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Summary: Traders who look for a good strategy to employ in binaryoptions trading, should look n...Read More
BINARY VS BINARY: COMPARISON OF THE LEADING BINARY OPTIONS BROKERS
Welcome to Binary vs Binary, the leading resource on the web for comparing brokers in the binary options industry. We aim to provide a service that informs readers of the pros and cons of various service providers, and we aim to do so in a neutral, unbiased way.
In preparing our comparisons, we specified a series of criteria upon which to assess the different service providers – these are the criteria that we believe should be most important to all investors, but you are encouraged to think about which criteria are most important to you as an individual. A brief summary of each of the criterion is presented below:
It is important to consider the length of time that each service provider has been operating for. The number of years of operation provides an indication of how well-established a service provider is, how much time it has had to secure the various regulatory approvals, how experienced its management team is, and how extensive (and accurate) the online reviews about the service provider are likely to be.
Platform and Technology
Of course, one cannot partake in any form of online binary trading without a platform and underlying technology that facilitates the execution and management of actual trades. For this reason we place a heavy importance on the platforms that various service providers offer. A weak platform can hurt the overall experience offered by an otherwise first class service provider; similarly, a strong platform can offset weaknesses in other areas of a service provider’s offerings.
The range of assets available to you as an investor should be a key consideration when selecting a service provider. Most service providers offer some combination of stocks, currency pairs, commodities and indices, but the volume and exact list of assets varies widely between service providers. We evaluate each of them according to the variety of assets on offer.
Although technology is important, options trading is at the end of the day an activity that requires substantial input from people. For this reason, we place a heavy emphasis on the quality of support that is delivered by a service provider. We look at things like the reachability of support staff, the dedication of those support staff in helping clients to resolve issues, and the range of languages spoken fluently by support staff.
It is increasingly common practice in the options industry for traders to be awarded bonuses on initial deposits. The frequency and size of these bonuses, however, tend to vary from provider to provider. We therefor include bonuses as a criterion on which we evaluate the service providers.
Training and Education
Success in the markets requires a combination of skills, luck and talent. In order to develop skills, investors need access to quality learning materials that can teach them various trading concepts and strategies. We evaluate the service providers on the quality of their educational offerings.
For each comparison, we conclude by tallying up the performance of service providers across all criteria in order to determine which of the two service providers being compared is superior. Readers should not take these final assessments to be definitive judgments – after all, service providers continually update their offerings for the sake of becoming more competitive – but our hope is that they will provide some useful guidance for making a final selection.