So, now that you basically know what Binary Options are and how Investing in Binary Options works, the next logical step is to find a Binary Options Broker.This can be a mission, especially being new to this industry, there are so many brokers to choose from and I have used several over the last three years. Now I tend to do most of my Binary trading through three different brokers for their different assets and time frames but in all honesty I use one broker for 85% of my trades.
If I had known three years ago what I know now about brokers I would be a couple of thousand dollars better off. Yes I have been scammed a couple of times by brokers in my early trading days and this is why I only use the three brokers I have not had any trouble with.
As with any investment you intend making, your Due Diligence is of the highest importance, in other words do your homework.By Homework I mean ;
Check to ensure the broker is regulated and that they actually hold a license and NOT License Pending.
Read broker reviews , just remember that not all reviews will be unbiased as some reviewers will have a hidden agenda and try and steer you toward another broker that they are affiliated to. ( See my list of trusted brokers ).
Usually when you sign up with a broker, you will be assigned an account manager and with most but not all, their job is to get as much money out of you as possible usually trying to get a bigger deposit out of you ( I purposely alter my phone number for this reason as they can become annoying )and other little unethical tricks they have to get more money from you.
Once your account is open with your broker you will need to send them some I.D documentation, this will need to be done before they will let you make a withdrawal from your account.
A lot of brokers will offer a sign up bonus, be sure you read and understand the terms and conditions of the bonus, I personally would not take the bonus as a beginner because the trading volumes most brokers use it will lock up the whole of your account making it hard to withdraw winnings when you want to.
Preferably find a broker that has a Demo Account for you to use to try out strategies and get used to using their platform.
Opening minimum deposits can range from U.S $10 – U.S $350 depending on the broker you choose.