The Truth About Binary Options Brokers

When they hear the word Binary Options brokers, people either get excited or start to think about trusting a virtual broker to manage their money. Online trading platforms are one of the most revolutionary inventions since the beginning of trading on Wall Street. However, it is true that sometimes the benefits of this industry are somehow overestimated and misinterpreted.

Withdrawal Process

It is not fair to put all the eggs in the same basket concerning the brokerage firms. It might happen that sometimes traders undergo late withdrawals issues. However, we need to understand that procedures are what they are and that sometimes it can be very time-consuming. Besides, there are some factors that might further delay a withdrawal process which are:

Missing Compliance Documents – Not all traders submit all the compulsory documents. Thus, the process is slowed down not only for them but for the others also. Brokers usually treat several withdrawals processes at a time. Therefore, if some processes are more time-consuming than expected it will delay the other ones.

Public Holidays – In my experience, there have been times, especially during public holidays, where I’ve experienced a delay in this particular process. Therefore, if traders asked for a withdrawal the day before a public holiday, there a chance that their requests will be postponed at a later stage.

Broker Reputation

Options trading is a sector full of opportunities. Due to the profitable opportunities it holds, this industry is also very competitive. Brokers are constantly trying to be amongst the elite by improving their services and features. Various online reviews portrait the benefits of trading Options and using platforms that are user-friendly. This dense competition has tainted many brokers’ reputations, this is why traders are so afraid to subscribe to a platform nowadays.

Trusting Your Broker

A broker’s revenue is principally derived from the amount of traders it has. Without traders, brokers cannot survive and this is why they all strive for excellent and innovative services. If a broker misbehaves, sooner or later traders will notice and will close their accounts. Accordingly, this is why credible brokers cannot engage in such behaviours. The Internet may be a vast virtual world, but rumours circulate at the speed of light there. The web can be very influential on a trader’s psychology. Therefore, do your own research, gather up your findings and build a trust between you and your broker. Afterall, it is your investment and only you can decide how you will invest it when trading.

Binary Options Complaints

Binary Options complaints are becoming more viral than flu during winter. The dissatisfaction of traders can affect each and every broker whether they are regulated or not. The source of the problem is that traders do not do well with losing money. They are influenced by the bonus percentage offered by brokerage firms and they tend to forget that losses are also part of the industry. Among the most popular ones are withdrawal procedures and lack of customer support. In my research, there are very few reviews that are addressed directly to the service providers. As such, it is of utmost importance to contact your account manager and liaise with them about any of your queries.

The Bottom Line

From what has been discovered, it can be concluded that there is no correlation between traders and their brokers. In fact, after analysing the complaints, it is seen that most of them are generic and do not personally attack the broker’s reputation.