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Here, in the video below, Michael presents 7 essential factors in deciding which binary options broker to utilize. These 7 factors can be used as a way of deciding which platform can be used by an options trader. Here are the 7 decision points:

Pay Out

Some platforms will pay up to 85%, while other platforms will only pay 70%. When it comes to out-of-money payouts, most of the platforms will pay you nothing, while anyoption™, for example, will pay you 15%. So, you want to make sure you’re going with a platform that will offer you a higher payout.

How Responsive is the Binary Options Broker?

Some platforms are not responsive to emails – you can email them, and you will not get a response for days. You want to make sure they are available at all times if you call them, or email them. You want to confirm their responsiveness before you need to make withdrawals!

Security

You want to make sure that the platform has SSL (Secure Socket Layer) security, to protect and encrypt your credit card information.

How Many Assets Can You Trade?

Some platforms will let you trade over a hundred different assets, while some platforms will only let you trade 20 – 30 different assets. You don’t want to make a deposit, then later find out you can’t trade the asset you are interested in. Look for the assets you want to trade, on the platform, before making a deposit.

Reputation

You want to make sure you’re going with a company that has an established track record, one that is well established. Confirm this by going to:

1. online forums

Access

Specifically for US residents, most of the binary options platforms will restrict currency and commodity trading, so you will only be able to trade stock options. Make sure beforehand, that your binary options broker provides the assets you want to trade, and that access is not denied based on your residence.

Deposit

Betus Payout Options 2019

Sometimes, the binary options broker will offer you a bonus, when you make an initial deposit. Michael does not recommend taking a bonus from the broker. It will lock your money into the platform, and you won’t be able to withdraw it for weeks. Just keep in mind that nothing is free! All the platforms will offer a bonus. This is not a good business practice. Be smart, and don’t take it.