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If, in spite of every piece of sage advice and abundant evidence that the path of least resistance and the road to ruin are all too often one and the same well worn trail, you’ve set your sights on making money from binary options then you’re either very brave or very foolish. But either way you’ll be needing a trading platform.

A binary options trading platform provides the interface between a trader (that would be you) and a broker (or bookmaker if you prefer). It’s the means by which you place your trades (bets) and should also enable you to monitor your own state of affairs, study key market data and manage your money.

So what are the key things to look for when choosing a platform and broker (the reality is that the two come together as a single package)?

Does the Broker Checkout?

Sounds obvious, but this is a field that’s not short on scam artistes of one kind or another.

That said, not everyone is crooked, so you need to sort the wheat from the chaff.

It’s always be best to go with a basic trading platform from an honest broker than one with a full complement of bells and whistles but operated by scoundrels.

Good starting points are reputation and evidence of regulatory compliance. It’s not exactly demanding to find this stuff out, just go looking. Fake reviews and bogus credentials always stand out so consign anything you have doubts about to the reject list and move on.

You also need to check for ridiculous minimum deposit requirements and enticing promotional offers (a common one being a first deposit bonus). Also determine the broker’s withdrawal policy and steer clear of those who stipulate an unreasonable waiting period for withdrawals. Coupled with this is how quickly they will payout on winning trades. It is your money after all; you ought to be able to access it as you wish.

Lastly, find out what level of support they offer and how responsive they seem. You should be able to contact support via phone, email and possibly also online chat. So try them out – pester them with a bunch of stuff and rate the response (or lack thereof). If someone is already worse than useless when they haven’t even got your money yet, you can figure out what you’re probably in for after they have.

Next up, evaluating the platform itself…

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