Binary options are not a new way to trade and make money and many people are well involved in them already. However, there has been a rash of scams and other bad press to cause many to dismiss binary trading and this is a big mistake. There are simply many fantastic brokers out there but many people simply don’t know how to go about choosing a reliable binary options broker. So let’s explain what is involved with being a good broker and how to decide.
For starters, 95% of all complaints about binary brokers are actually based on something incredibly simple and it should be known in advance by any trader. This is the bonus policy of the brokerage. When choosing a reliable broker in binary options, the trader must decide in advance if he or she wants a welcome bonus. Many brokers will offer up to 100% bonuses on the first deposit.
However, be very wary of the ones that are offering more than 100% bonuses as this is a warning sign that brokerage is not a reliable one and could be an outright scam. We recommend keeping clear of such situations but those offering 100% are fine. But the issue is how these or any funds in fact can later be withdrawn. All binary brokers, reliable and not, require the trader to execute a specific amount of volume prior to making any withdrawal. That’s right, if you take a bonus, you are locked in until you complete the volume. So it’s very important to make sure of the following points as they pertain to the bonus:
- Make sure that they aren’t entered automatically but rather only based on your request. Many brokers place these in your account automatically. So we recommend finding out what the