Binary options started gaining popularity in 2008 as a flexible and easy to use financial instrument. However, binary options trading in the UK took off only around 2010, which makes this type of trading instrument one of the newest in the toolkit of successful traders. Today, binary options can be named among the most popular ways to enter financial markets, which is easily explained by the simplicity and accessibility of this instrument.
What makes binary options so attractive?
Contrary to forex and stock market trading, in order to start, a novice trader does not need to have a degree in finance or to make a Herculean effort to understand the dynamics of the instrument. The main advantage of binary options is that the conditions of each transaction are determined in advance, including levels of profit or loss for all possible deal outcomes (of which there are only two, hence the name of the instrument). In other words, when trading binary options, the trader gets much more control over the situation, allowing her to follow the principles of money management in a much more effective way. This is a significant advantage over forex trading, where even one careless deal is enough to destroy the entire balance.
In order to start trading binary options and to achieve stable profitability, it is often enough for a novice trader to get acquainted with a couple of trading strategies and to learn to read and understand price charts. The next step would be choosing a suitable binary options broker, which, in turn, is not always as easy as it may seem.
Choosing a broker
It is always recommended to approach choosing a broker as seriously as you would approach the choice of a business partner. A good broker should be completely reliable, allowing you to focus on looking for trading ideas and trying out various trading strategies instead of constantly worrying for the security of your funds.
It is always a sensible idea to open an account with one of larger brokers that offer full support in English and have many years of experience on the binary options market. Following numerous requests from our trader community, here is a short list of reliable brokers with favourable offers.
Best binary options brokers in the UK
All of the brokers listed below are regulated, reliable, and have a solid experience in the binary options market.
The absolute leader on our list is the largest European binary options broker, 24option. This company has been active since the very creation of this financial instrument, and are arguably the most competent company on the market. 24option offer their clients a modern and speedy trading platform that has been developed internally by the company’s specialists. It also provides its clients with free trading signals – a feature which has been spoken highly of even by the most experienced binary traders.
The second place is shared by world leaders IQ Option and Banc de Binary. Both companies offer a wide range of financial assets, detailed training webinars, as well as attractive bonuses for new customers.
Next comes StockPair; this broker’s analysts are known to be extra helpful when it comes to assisting novice traders in making their first steps on financial markets. The company also offers several risk-free trades to new clients, which implies full reimbursement of the trader’s losses on a predetermined amount of real-money deals.
The last, but not the least of the five, is the binary options broker GOptions, which offers its traders high-quality instruments, user-friendly support, and an easy to use trading platform.
We wish you profitable trades!