So here’s the state secret that you need to know if you ever decide to invest in binary options: not all binary options brokers are created equal. In fact, there are plenty of brokerage companies that were only put up recently as a response to the growing interest in options investing after the 2008 global economic crisis. Your ability to spot the pretenders from the real brokers will ultimately help keep you avoid the headaches typically associated with options investing.
One of the first things you need to look for in a brokerage firm is tenure. Online binary options only became a real fad in 2010 so companies founded in that timeframe are one of the pioneers in the industry. Conversely, you will find a lot of companies based in Cyprus and other countries with lax tax laws that were put up in 2011 and later to take advantage of this boom. If is often these companies that create headaches for options investors because of their less-than-friendly policies towards withdrawing money from your account.
The best way to approach this is to read reviews on multiple binary options companies and to take stock of what the reviewers are saying. Remember to not read just one review about a specific company. It is fairly common for these companies to finance writers to write favorable reviews so looking for others will help paint a much more accurate picture of the real situation. Consequently, if you can leverage the learning of others to help you make the right options investing decisions, then that helps you avoid the headaches that others went through when they were only starting to invest in binary options. When you find one you like, find out if their online binary affiliates are making money to see their popularity.
Once you have a shortlist of brokerages to choose from, take the time to talk to their customer service representatives. On most binary options websites, you will find links to customer service contact options most notably via chat, email or phone. Talk to a representative and ask the questions that are not answered in the FAQ page. For example, are there withdrawal limitations for that specific company? Some brokers do not allow you to withdraw your profit until you have made an x number of transactions or withdraw an x amount of dollars. If these numbers begin to look unreasonable to you, then back off and talk to other representatives. You want to earn and easily get the money that you earned so choosing the brokers with more convenient policies will help you invest in binary options more sensibly.
With most broker payouts at roughly the same levels, the differentiating factor for brokers will be the customer service support and ease and convenience that you get out of their service. Make sure to find out all the relevant information before committing yourself to a broker so you don’t end up regretting your decision for investing with one particular company.