There are a few steps that are required to getting started with binary option trading. Firstly, you need to choose a broker. Generally, a broker is a company which provides you with trading platforms. Through this you can start trading options on assets like commodities, indices, currencies, stocks and so on. But be careful while choosing the companies you want to work with as all of them are not made equal.
Nowadays, it’s very difficult to choose a good and certified binary option broker. There are several factors that a person needs to consider before choosing. The most important ones are given below:
Considering Payout and Return Rates
This is one of the biggest facts that traders should take to consideration before hiring a broker. By definition, an expected financial return from an investment is known as payout. And the return rate is the amount of profit from an investment over a period of time. The amount of payout average for most brokers is usually 70-90% of your invested amount. Return rates aren’t offered by all brokers. But the ones who do generally offer 10-15% refund on losing trades.