Binary Options Platforms
Binary Options Types
In recent years, one of the strongest kinds of investment for those who want to be flexible and in control of the investment process is the binary options trade. Within the realm of binary options, there are many different ways that investors can gain profits, using a variety of techniques, asset types, and investment windows.
However, one of the things that can really make or break the investment process for a binary options trader is the kind of platform that they employ to broker their binary options. The process to research and evaluate a potential brokerage service can be lengthy, but is well worth any time and energy spent. Due to the number of binary options types out there, here are some of the factors that you should consider as you compare the various binary options brokerage firms on the market today:
Consider Average Returns
When you begin to look through the many brokerage providers for binary options, one of the first statistics that you are likely to come across is their rate of return. On average, traders should expect to see a minimum of 70% of return on the successful trades that they make. Because binary options allow traders to view the payouts before they make the investment, the final amount of profit that will come into your account from a successful deal should always be thought out beforehand. If you can make more profit from any given deal, why would you choose to do otherwise?
In some cases, the return rates from the brokerage service can also be aided by the addition of bonuses or loss refunds within certain parameters. These can be helpful tools when you are planning your investments.
Evaluate the Assets Offered
One of the core strengths of a binary option is the variety of binary options types that there are to choose from. Take advantage of this by checking on what assets are supported by any given brokerage service. If you are not able to take advantage of the full range of assets that you want to work with, go to another provider.
In some cases, the high-quality providers will also provide their users with a number of tools that can be used to monitor the assets that they invest in. This is especially helpful when the tools are comprehensive, providing not only trends and patterns, but also current news events that may impact the value of a given asset at any one time.
One of the key mistakes that investors make is to fail to check out the kinds of customer service tools that are available to them before signing up with a provider. This is a huge issue because you never know when you may have a question about the service and you don’t want to be stuck waiting on a response.
Another aspect of support that should be considered is the role of security. You can perform your own research into the reputation of a company online, viewing any data breaches that have occurred in the past and learning about the experience that others have had in working with the company.
Even within the binary options platforms, there are several types of categories that a service provider may fall into. These are known as white-label platforms of proprietary platforms. While the white-label platforms are often designed by companies that focus on software and packaged for use by multiple brokerage firms, proprietary platforms are unique to the brokers that use them.
White Label Binary Options Types
In some cases, a brokerage firm will opt to use a white label platform, giving them access to more powerful tools than they might be able to develop on their own and removing the burden of support from the brokerage firm, allowing them to concentrate their full attention on the things they do best. However, these tools also make it difficult for brokers to provide custom options.
While there are a number of white label platforms on the market, the most recognized ones are Tech Financials, SpotOption, and Tradologic.
SpotOption currently has the highest number of users and is based on a mobile model. It can be run on Apple and Android devices and gives traders the ability to work with over 200 different kinds of assets. It includes five common binary options types in its package.
Trod logic is also based on a mobile and web model. It works well with MetaTrader tools and gives traders access to advanced charts from which to trade. The one potential drawback to this tool is that expiry times can only be controlled by the broker using the software.
Tech Financials also works on computers and mobile devices and has four binary options types included in its package. Again, this software doesn’t give traders the option to determine their own expiry windows.
While propriety platforms are customized to specific brokers, Binary.com, Anyoption, and StockPair employ the most popular ones at the moment. These tools are unique and highly customizable, giving the brokers that use them a great deal of control.