The differences between various binary options broker-dealers are subtle and important. Selecting the wrong dealer can result in missing out on many incentives or possibly having difficulty in making a profit. Here are three ways a broker can compete for a day trader’s business.
Bonus Cash Offers
This is one of the glitziest offers made by Brandon Lewis Gemini 2 binary options brokers. The companies offer considerable amounts of bonus cash for new deposits. Competition between brokers is high. For each dealer, in this rapidly expanding field, attracting new clients is a priority. That’s why many dealers offer generous cash incentives to attract and retain clients.
The incentives come with restrictions. For example, one firm may offer a 25 percent bonus for new deposits but traders are required to execute a trading volume 15 times the deposited amount plus the bonus. The devil’s in the details. It pays to read the fine print on these bonuses on http://www.pushmoneyapps.com/gemini-2-review-brandon-lewis-a-scam/.
Trading Parameters, Policies, and Yields
The second way binary options brokers compete is with trading policies. The nature of the binary trading industry is such that trades happen quickly and contracts flip every hour (or less).
In order to stay organized, binary options brokers set specific trading policies that define how and when contracts will be exchanged. For example, one important policy used by many Brandon Lewis Gemini 2 brokers is the trade lockout. This is a time set by the broker, after which no more trades will be taken on a contract.
The lockout can range from 5 minutes before expiration up to as high as 25 minutes. Obviously, the trader who has access to the expiring trade at the latest time will have a big advantage in the market.
The last way many competitors in the binary options industry compete for business is by specialization in a specific type of securities. Nearly all dealers in this industry offer the standard stock indexes and forex cross pairs to their traders. However, some firms diverge considerably when it comes to the types of stocks and foreign indexes they offer on http://www.pushmoneyapps.com/gemini-2-review-brandon-lewis-a-scam/.
Some firms have various types of foreign indexes to trade, including the Hang Seng of Hong Kong and the Asia Bombay India index. Other firms prefer to focus on the IBEX of Spain. If a person is looking for the right binary options broker for their proposed trading strategy, they should first take into account the type of securities they would be able to trade using the broker’s platform.