Binary Options: Safe Brokers and Trading Platforms 2012
Binary Options: Safe Brokers and Trading Platforms 2012September 15, 2012
Our staff has conducted an extensive check and review our two leading, recommended, and trusted binary options brokers accepting real money deposits from traders. When we started this journey we only intended on asking them one question:
|Is Your Trading Platform Safe?|
Eventually we understood it wasn’t enough and continued to collect the most relevant information for trading binary options at an online broker. Part of our tactics involved posing as amateur or new traders wanting to deposit, and we started to ask a very specific set of questions regarding these major areas:
1.What kind of safety measures are you taking to secure my identity and financial information?
2. What are the available assets: Meaning, do they offer Stock, currency pairs
(Forex), commodities, and indices.
3. What is the average payout?
4. What is the bonus that’s being offered?
5. What are the key (most popular) trading features?
*All information presented is valid for September 2012.
Based on the information received we drafted a fresh and revised comparative analysis of the two brokers listed below.
Optionbit: Powered by the Tradologic Binary Options Platform
Optionbit Cashier: Protected by a 2048 bit Encryption RSA key.
What is an RSA Key? An RSA Key is an encryption key with a 10 alpha-numeric password protection tool that changes every time an administrator or key official needs to audit or update the cashier. 2048 Bits is the highest level of protection available today and is virtually impregnable to hacking or malicious attacks.
Minimum Deposit: $200 Minimum Trade: $10
First Impression: At first glance the site seems to be extremely user-friendly and easy to use, and the support staff was courteous and very professional.
Initial Review and Analysis of Assets and Bonus
The site offers stock options trading, Forex (Pairs), commodities, and indices. Traders residing in the USA can only trade stock, when I asked about this I was informed that it has to do with a regulatory loophole. While some brokers prefer interpreting the law in a more liberal fashion, at Optionbit they seem to be more concerned about these issues.
The average payout is a whopping 91%, which beats all the rest. This compensates for a relatively low bonus that stands at 50%. To understand how the bonus system works in binary options click here. Optionbit requires that a bonus be traded ten (10) times the deposit amount before it can be withdrawn.
There may also be additional trading requirements with trading volume and/or time limit restrictions. On top of that Optionbit can add a financial incentive in the form of a bonus up to thirty five percent (35%) for each deposit.
The most popular trading feature was digital options, followed by “touch” and “range” options trading.
Conclusions and Recommendations: Over all this broker offered an amazing product, which is very simple to grasp, intuitive, but also fun. Overall I felt very safe trading in this environment, especially since the staff advised me that only I can change my password and they had no access to it. Highly recommended for both amateur as well as experienced traders.
Traderush: Powered by the Spotoption Binary Options Platform
Traderush Cashier: Protected by an SSL Encryption and PCI Compliant!
What does SSL Mean? It stands for Secure Socket Layer. The provider is Thawte which is a leader in the internet security community.
What Does PCI Compliant Mean? Payment card industry OR PCI compliance means a business is line with a set of specific security standards designed to protect card credit information during and after the transaction is made. Receiving PCI Compliance means Traderush is serious about security and invested A LOT of money to make sure the data is protected. It also means they are thinking about regulation and view themselves as leaders in the binary options industry.
Minimum Deposit: $200 Minimum Trade: $10 ($5 on 60 Seconds Trading)
First Impression: I immediately felt at home with Traderush. Besides the high level of support and professionalism displayed by the staff, I felt very safe and secure after I received a phone call from a security officer who meticulously verified my identification and cross-referenced information from my trading account.
Initial Review and Analysis of Assets and Bonus
Much the same as all brokers, Traderush offers stock options trading, currency pairs, commodities trading, and indexes. US traders can trade any of the assets without any restrictions. The main reason for this is the difference in the software and the license (CYSEC).
The average payout is 81%, which is lower than Optionbit, however the bonus structure and trading volume requirements explain this. The bonus structure in Traderush is a bit different and the trading volume requirement stands at 30 times the bonus and 20 times on a refund bonus, also known as protection, insurance, or cash back bonus.
Conclusions and Recommendations: Traderush is probably the leading binary options broker for the Spotoption trading platform. I have enjoyed trading with this broker and consistently made considerable amounts of money. I highly recommend Traderush.
To summarize, the new Cysec-licensed binary options brokers provide an extremely safe and professional trading environment. CFTC exchanges such as Nadex or the CBOE employ exactly the same type of encryption technology with their trading software. I have traded 60 second options, digital options, range, matrix, one touch, and option pro.
I have over 500 open positions on both brands with accumulated deposits of over $27,000. I continue to consistently withdraw, make money, and I have an excellent relationship with the head traders of these two brokers. I highly recommend these two brokers for both novice as well as seasoned traders.