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Article contributed by: Sidney Terrell <[email protected]>.
It is a well known fact that when it comes to binary options, they are regarded as one of the avenues that can give you quick cash provided you know how to go about it, but where to trade binary options if you are residing in the European countries or in USA? If you are planning to trade binary options in the European countries, you can do so on the well known or the so called major European exchanges, EUREX being one of them. In United States of America, you can trade binary options on the CBOT or The Chicago Board of Trade. Here you will be able to trade these options on Target Fed Funds Rate. However, you will be required to be members of the exchange if you want to trade on these exchanges. As far as the contract value is concerned, you will be required to shell out USD$1000.
Binary options- Role of brokers
The brokers play an instrumental role in taking your trade successfully to completion. The more experienced a broker, better it is for the trader. As far as United States is concerned, Nadex is perhaps the only broker that is regulated or licensed. However, the products offered by this broker are not the same as what you get to see in the other trading platforms. So, if you are residing in USA and want to trade binary options, you can also opt for brokers like Opteck, 24 Option, and Any Option. It is best to open 2 different accounts with the minimum deposit required by the broker and then trade the binary options. An advantage in doing so is even if trading with one of the brokers fails to yield results, you know at least you have an account with another. So, the risk is covered to a certain extent.
Regulated brokers in Europe
There are many brokers that will not be ready to work with US traders. However, Banc de Binary is a broker that is registered with FSA in United Kingdom. It also has registration with Cyprus’ CySec. As mentioned above, Banc de Binary, however, stopped trading with US traders since December 2012. This step was taken as Banc de Binary was in the process of getting licensed approved from CFTC or US Commodity Futures Trading Commission so that it could operate as a regulated broker for binary option trading in USA. In February 2013, Banc de Binary was registered with FSA in United Kingdom. So, they are different as compared to the ones that are just casino operators operating in Malta and Cyprus.
In terms of dollar trading volume, Banc de Binary ranks 3rd and is essentially a regulated binary option broker. You can also turn to the other exchange and find out where to trade binary options. But to get the best results, it is a wise move to seek professional assistance so that the chances of earning greater profits are increased. Also, having a sound understanding of the underlying concept of binary option trading is equally important.