In an effort to provide you with the most up-to-date binary options trading information, it seems time to provide an updated version of what to consider when selecting a broker. Recent changes to regulations and additions to trading features should be considered whether selecting a broker for the first time, or when searching for an additional or replacement broker.
In terms of binary options broker safety, recent regulation changes may have you wanting to take a closer look at Cyprus based brokers. The Cyprus Securities and Exchange Commission has made the decision to require brokers located within Cyprus to follow the rules laid out within the Investment Services And Activities and Regulated Market Laws. In simple terms, brokers here will need to be licensed. This should provide you with a higher level of confidence when selecting a Cyprus based broker.
The landscape of regulation in binary options trading is frequently changing, as are the additional trading features now being offered by brokers. The addition of 60 Second trades has now become “old news,” as buy me out (sell), double up and rollover features have been added. Some brokers are now even offering pair trading for use with assets other than currency pairs. Should you wish to take advantage of these new features, a broker change may be in order.
Another are in which an updated report is needed would be in the area of banking methods. Many brokers have added new banking methods to their deposit and withdrawal lineups. Though most binary option traders do choose to use credit cards or bank transfers for their banking needs, the desire for additional options was strong enough that some brokers have added new forms such as online payment processors, MoneyBookers, Neteller, Perfect Money, and PayPal.
We have not noted any major changes in the areas of asset classes or trade types. However, we have noted that many brokers are now beefing up their asset indexes by adding new underlying assets. Since these are one of the keys to diversity in binary options trading, be sure to visit the asset index page of each broker you may wish to partner with either now or in the future.
There has also been a small but notable trend in the number of brokers who are offering or allowing binary option signals within the trading platform. Some brokers may offer these outright, while others may partner with a signal provider in order to have signals imported directly into their platform for direct access and use by those who pay for this extra service. Should signals be important to you, this information could be important.
There is no denying that the broker selection process is far and away the most important first step in binary options trading. The digital options trading industry is always changing and therefore brokers must change with it. Consider these latest developments when screening brokers in order to determine which will be the best selection for you.