Finding an Honest Broker
Binary option trading provides a new and a very attractive platform for traders. Investing money in Forex and Stock Markets price movement was never this easy. Binary trading has become the craze of the decade and its popularity stretches all over the world.
In this adventurous venture, the first step is finding a trustworthy and honest binary trading broker, which by the way is not an easy task. Before you decide to create an account with any broker, you should do thorough online research to make sure that the broker does not have withdrawal issues. Make sure it does not have a bad online reputation.
After a lot of research, I was able to find one of the few honest binary options companies. Based in UK, MarketsWorld.com is a legitimate broker who always pay you your profits. You will not face any withdrawal issues at all.
Dishonest people run most binary companies
Employees hired by dishonest brokers vow to protect the insane company profit margin by using all kinds of deceptive moves while the CEOs laugh and enjoy the show from a lofty perch. These companies are giving a bad name to binary options business. Traders are losing trust in binary options and they are choosing other investment opportunities.
Some brokers are famous for not paying their customers if they make profits in trading. Use Google to find forum discussions. Spend some time in doing online research, it will benefit in the end.
Finding an Honest broker:
The most important task is to find an honest company. Forget about all other things; focus on only finding a trustworthy and honest organization. Following are some suggestions that can help you in this regard.
1. Start by doing online research; do not search for REVIEWS as most of them are just advertising the broker. Instead, search for Forum discussions. There are many websites where there is a whole section dedicated for trader’s complaints. You can learn from experience of other traders.
2. What is the reason for brokers to dislike traders who make profits?
It is because they have to pay the profit from their own pocket. Contact the broker that you are testing for honesty and ask them the following questions.
If a trader wins then who actually is paying the profit?
Where is this money coming from?
If trader wins, do you pay the money?
If they tell the truth, which is that the broker will pay it from its own pocket, then it is a thumbs-up for the broker.
If the answer is dubious, then that is not a good sign. Dishonest companies have a policy of lying about how binary trading works and they try to give the impression that they care about traders and that they actually want traders to WIN all the time, which is not true. Such liars will give confusing answers and will try to implicate that some third party is giving the profits on trades and that they only take a small commission.
Many binary trading companies have an egregious reputation in terms of not processing withdrawal requests. Delay in processing withdrawal requests is one thing, but if a broker refuses to give out profits to its customers then that is an unethical behavior and someone needs to take legal action against such dishonest brokers. Unfortunately, majority of binary trading companies are dishonest and they operate their business in a foul manner.
Check the Features:
Before you join a broker, make sure it offers all the features you are interested in using. For instance, not all brokers offer 30 or 60 seconds trading platform. There are two main binary trading platform providers in the market, SPOTOPTION and Tradologic. Both offer different interface and trading features. For instance, Range/Boundary trading is currently only available in Tradologic platform.
If you deposit 250 dollars, many brokers will offer a 100% bonus. If you accept the offer, you will have $500 in your trading account. But at what cost? An honest broker will inform you about the full terms & conditions associated with taking a bonus. Corrupt ones will insist you to take the bonus while pretending that it has no strings attached.
According to common bonus policy if you accept a 250 dollars bonus, you then have to achieve a total of 10,000 dollars trade volume before you can request a withdrawal. The worst binary companies lock traders account from requesting withdrawals until they have met the conditions; this means that you can’t even withdraw your own money. Regulated and honest brokers have much acceptable provisions for taking a bonus.
It is crucial that you find a trustworthy and honest company otherwise; you will be wasting money as well as your time if you join a shady organization.