Where to Trade Binary Options?

Where to Trade Binary Options?

In order to start trading binary options, you need to sign up with a reputable broker.

This is important, as although many brokers attempt to lure new traders with sign up bonuses, there are a number of binary options trading scams online. In like regard, there is no single worldwide regulatory body for binary options. This being the case, it is always best to thoroughly research individual brokers prior to setting up an kind of personal trading account. This and only ever choose trading platforms which have a verifiable third party trust rating.

How to Start Trading Binary Options in the US

While there might not be a worldwide regulator of binary options, there are separate regulatory bodies in the US, UK, and Australasia. This being the case, in order to avoid falling victim to one of the many binary options trading scams on the Internet, make sure to choose a broker in your territory who is regulated accordingly.

In the United States, binary options trading companies are regulated by the Commodity Futures Trading Commission (CFTC) and a second regulatory agency entitled the National Futures Association (NFA). In this case, if you are a US citizen, make sure to open an account with a US based broker such as FinPari, and not an overseas broker unless you don’t mind forgoing regulatory protection.

Avoiding Binary Options Trading Scams

If based in the UK or mainland Europe, it is still possible to sign up with US-based binary options trading companies. However, in the event of any kind of dispute, you won’t benefit from the same protections as you would if using an EU regulated broker. This being the case if you are based in the UK or Europe, you should ideally only look to trade with companies regulated by the Cyprus Securities and Exchange Commission (CySEC).

Other Things to Consider

When thinking about where to start trading, it can be tempting (after verifying the reputability of different binary options trading companies), to simply open accounts with brokers who offer the highest bonuses. However, high bonuses aren’t always indicative of high-quality service.

The above being the case, always look for trading platforms which will provide you with things like the ability to exit a trade early. This and a range of analysis tools which you can use to predict upcoming market movements as accurately as possible.