Binary options safety is a hot topic. While binary options are generally safe, new traders should build up trust before they invest big. In this article, Binary options safety, you will learn:
- Whether or not binary options are safe,
- How to identify safe binary options brokers,
- A simple three-step process to test binary options safety and get you into a comfortable environment.
With this information, you will be able to navigate the binary options world safely and risk-free.
Binary options safety: What you need to know
The first thing you need to know about binary options safety is that the binary options world is not a law-free Wild West environment. There are plenty of self-imposed rules and government regulations that guarantee your safety.
The most notable rules you should know are:
- Regulation by the European Union. Most brokers subject themselves to regulation by the European Union, most commonly through the Cyprian Securities and Exchange Commission (CySEC). This regulation guarantees the safety of your money by forcing binary options brokers to comply with the same rules as any other financial institution.
- Anti-money-laundering rules. To prevent money launderers, who love online financial services, from using binary options, all brokers ask every new trader to validate their identity. This process is so thorough that it also guarantees that only you can withdraw money from your account, thereby guaranteeing the safety of your money. Even if someone finds out your password, they still can’t steal your money.
- Rules imposed by partners. Many binary options brokers partner with such respected partners as Juventus Turin and FC Liverpool, two of the most famous soccer teams in the world, and other high-profile athletes, sports teams, and celebrities. Before these respected teams and people recommend a broker to their fans, they make sure that this broker fulfills all safety requirements. If you prefer free-market regulation to government-imposed rules, look for brokers with high-profile partners.
As a result of these rules, all trustworthy binary options brokers are 100 percent safe:
- They use the SSL protocol – the safest encryption protocol in the world – to encrypt all the communication between you and their websites.
- They keep enough money in a separate account to buy out all of their customers. That means, even in a worst-case scenario where a broker goes bankrupt, you will get all your money back.
- They use the safest payment providers available, from Moneybookers (Skrill) to regulated banks and trusted credit cards such as Visa.
Combined, these security measurements protect your account from hackers, make sure that you will always get your money back, and that make sure that nobody steals your money even if they have found out your password.
A three-step process to get comfortable with binary options
In the first part of this article, you have learned everything you need to know about security. Of course, we understand that there is a second aspect to safety – you also want to feel safe. To satisfy this second requirement, there is a simple, completely risk-free process way to get comfortable with binary options.
This process is:
Step 1: Find a trustworthy, independent source
This is the easiest part. With this site, you have already found a source that can provide you with everything you need to know about a binary options demo account.
Step 2: Learn what matters
You have also already completed this step. In the first part of this article, you have learned everything you need to know about binary options safety.
Step 3: Test your ideal binary options broker with a demo
Now, it’s time to put your knowledge to action. With a binary options demo, you can do that risk-free. A binary options demo is a free way to test binary options with play money instead of real money, which is the perfect way to get comfortable with binary options and test their safety for yourself.
In our top list, we have listed all the best, most trustworthy binary options demos. If you want to test binary options safety for yourself, pick any of our top listed brokers. They are all free, you have nothing to lose.