Binary Options Broker Definition – What is a Binary Options Broker?
A binary options broker is a platform through which traders invest in the binary options market. The broker’s platform is designed to offer an easy and accessible way to enter the binary options trading world. The broker provides these essential functions:
- Trading platform
- Market data
- Trading charts
- Customer support
- Security and verification
Most brokers provide you the things for successful trading. This includes different chart types, indicators, news, or analysis. To make money with Binary Options you need a secure and reliable broker and a professional trading strategy.
Since binary options trading is simple and popular, scammers are building unauthorized broker platforms to scam traders. That’s why you should always open an account with a licensed and trustworthy broker.
How to choose a Binary Options Brokers?
As there are several binary options brokers platforms, you might feel overwhelmed when searching for the right one. But you can make the process easy by considering a few things.
You can check the fee structure, minimum deposit criteria, assets offered, reliability, mobile application, demo account, and other features.
Here’s a quick list of the best binary options broker you can open your account with. These binary options brokers are regulated by some trusted authority and packed with the best features.
1. IQ Option
Launched in 2013, this platform offers different assets to trade like commodities, cryptocurrencies, and CFDs. It also provides 24/7 customer support and lets new users create a demo account for practicing and understanding trading strategies.
2. Pocket Option
Launched in 2017, Pocket Option lets users trade in commodities, currency pairs, crypto, stocks, and indices. You can also create a demo account.
Operating since 1999, this is one of the best binary options broker platforms that you can trade with. It is user-friendly and needs a minimum deposit of $5 to start real trading.
Trading using a licensed broker’s platform can help you make a huge profit. But you should only choose a broker that matches your trading strategy and style. Also, read our full comparison of the best Binary Options Brokers.