Comparing Binary Options

There are wide variety of options and features available and this can complicate the process of choosing a binary options broker. Here we will review two of the more popular choices among binary options traders. This information has been organized to make it easier for the trader to assess. Since brokers are all so different a trader can have very different experiences with them based on the types of features that are offered. It is important for the trader to make a careful analysis of the potential broker. Compare features such as minimum deposits, withdrawal processes, types and number of underlying assets, and the types of tools they offer traders to help them make successful trades.

OptionBit is one of the more recent binary options brokers on the scene. Their headquarters is located in Cyprus and they were founded in 2009; just a year after binary options became available for public trades. This broker offers traders three different options from which to choose. These three options include digital, touch and range options. The broker provides a very easy to use platform that makes it easier for novice traders to begin to learn trading basics on.

We know that features can vary greatly between binary option brokers and OptionBit has a unique feature in that the broker allows traders to end their trades before the expiry. This is a very good deal especially for those brand new traders. When they are in the money they can just opt out of the transaction and take their profits without having to wait until the full expiry. This is a feature that both the novice and advanced trader can enjoy. This feature in particular is great for the novice trader who is just starting out and needs their confidence boosted. And it is good for the experienced trader who prefers to trade with larger amounts of money.

OptionBit's trading instruments include just over 33 underlying assets that binary options traders can choose between. This is a smaller number of assets than many other brokers but the platform is set up to ensure that traders can make solid trades as well as often profits. They do offer stock from some reputable companies such as Apple and Nike as well as a very wide selection of currency pairs. OptionBit offers payouts in the 75 to 81 percent range and they have a very simple and efficient withdrawal process. The last feature that is unique to this binary options broker is their account manager which is very helpful as well as personable.

AnyOption was founded the same year as OptionBit, 2009 and is also headquartered in Cyprus. The binary options broker offers underlying assets in all four categories: stocks, commodities, currencies and indices. They have a wide range of 108 assets that traders can choose and they have payouts that average in the 67 to 71 percent range. This may seem a little lower than some of the other brokers, but AnyOption also offers a small percentage payout when a trade is unsuccessful.

They offer one touch, boundary and above/below contracts to the traders using this platform. One of the unique features to this binary options broker is their very easy to use trading platform. This makes it an exceptional choice for the novice trader. Most brokers require a minimum amount to start an account and AnyOption is no different. Their minimum requirement is $200. Plus they have a requirement that each trade be a minimum of $25. This broker went to the extra effort of making the online trading navigation as easy as possible. The easy to use site navigation makes this a great binary options broker for the novice trader. However, their interactive charts are very useful tools for the advanced trader as well.