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  1. #1
    Active Member gooney's Avatar

    Binary Option Broker recommendations please? !!!

    I am new to binary options. I have been trading fx for a year. I know that most binary option brokers are bucket shops. But I am keen to try it out with $300 with small risk. Out of all these brokers which of these can any of you recommend please? Yesoption, 24option, Optionfair, Empireoption, Topoption, GT option, FXDD, StockPair, Traderush or CT Options, Vantagefx?? I managed to boil it down to these and I would really appreciate your help on any of these that are worth a try? Thank you.
    Last edited by gooney; 12-04-2014 at 01:51 PM.

  2. #2
    Master Member SeasaltMcFish's Avatar
    With $300, you'll probably be too short stacked for most brokers to trade with proper money management (1-2% of your account size), since they have a minimum trade size of about $25.

    You can consider to open a little bigger, or look for a trusted broker with smaller minimum trade size.

  3. #3
    Legendry Member Okane's Avatar
    Quote Originally Posted by gooney View Post
    I am new to binary options. I have been trading fx for a year. I know that most binary option brokers are bucket shops. But I am keen to try it out with $300 with small risk. Out of all these brokers which of these can any of you recommend please? Yesoption, 24option, Optionfair, Empireoption, Topoption, GT option, FXDD, StockPair, Traderush or CT Options, Vantagefx?? I managed to boil it down to these and I would really appreciate your help on any of these that are worth a try? Thank you.
    I suggest you always start with the minimum deposit.
    This way you'll try the platform without trading of course.
    If the broker gives you a demo, even better... Try the demo
    first and if you want to trade start with a higher deposit
    than the minimum but always relate to the minimum investment
    amount per trade! if you have to do minimum 20 for example,
    then a 300 deposit is not enough. If it's 5$ it would work.
    So think about that!

  4. #4
    Legendry Member Michael Hodges's Avatar
    $25 would be about 10% of the minimum deposit, a little high but not too too bad. YOu can always lower it as you win, or use a smartly chosen bonus to help .....

  5. #5
    Master Member SeasaltMcFish's Avatar
    MWah, don't agree completely with you here, Michael...

    For an experienced trader it shouldn't be a problem to have only about 10 trade buy-ins in his account, but for a beginning trader, it's not enough.
    Newbies tend to make mistakes and have to pay the costs of learning. Therefore it's better to have at least 25 buy-ins in your account to get started.

    A trained trader doesn't need more than 10 buy-ins, because he can always deposit more if needed. The psychological aspect of losing the 10 BI will be lower for a pro. A beginner may panic and cut off his chances of recovery. He'll need more BI's to stay in his comfort zone.

    Else there's a big risk of blowing the account and leaving disappointed before profit comes.

    A bonus can help indeed, if there's no need to cash out within a few months, but make sure you know the conditions very well and don't need to withdraw soon.

  6. #6
    Active Member gooney's Avatar
    Thanks for the advice. Now what about all the brokers that I mentioned...Which one of these would you recommend or which broker would you recommend? Please let me know as I find the hardest part about binary options is finding a good broker. Thanks

  7. #7
    Master Member SeasaltMcFish's Avatar
    Until now, I had no problems with 24Option, but they do have a $24 minimum trade size. This I don't like so much. Would rather have a $10 minimum, to be able to do some good money management.

  8. #8
    Solid Member jango_down's Avatar
    Quote Originally Posted by gooney View Post
    Thanks for the advice. Now what about all the brokers that I mentioned...Which one of these would you recommend or which broker would you recommend? Please let me know as I find the hardest part about binary options is finding a good broker. Thanks
    depends where you live? what trade expiry times are you looking at?
    I make my short term trades with 24option (15min-3hours) and long term trades with stockpair (end of week to 2 months). I would consider these 2 brokers very reliable in all aspects of BO trading. (although i had to tell 24option to back off with the phone calls - my one rule is dont ring me i'll ring you if needed)

  9. #9
    Master Member SeasaltMcFish's Avatar
    Agree, that's why I use a prepaid phone for my brokers...

    It's soooo quiet here

  10. #10
    Administrator Martin Kay's Avatar
    Quote Originally Posted by SeasaltMcFish View Post
    Agree, that's why I use a prepaid phone for my brokers...

    It's soooo quiet here
    Another option - use skype phone. It cost about 5-10$ per month, and you get a local number (:

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