Friday, June 6, 2014

Opening Binary Options Account

I’ve Chosen a Forex Broker, What’s Next?

We hope the previous two articles were helpful enough and you’ve managed to choose a binary options broker that offers a good rate of returns, a wide list of technical tools and a flexible trading platform that is accessible from any device. Now that you are finished with this task, it is time to register your account. Registering an account is usually a pretty simple process, but it make take you some time to complete the process depending on the requirements and security measures of the broker.

Account Requirements

The details you’ll have to type in during the registration are usually pretty simple and quite common, because they are usually required by most websites. They include your first and last name, country of residence, preferred currency, password, email and preferred payment method. In some cases you’ll also be asked to leave your phone number which will be used to either confirm your identity, or get support over the phone when needed. Support over the phone has become a rather popular thing among binary options brokers and nowadays many operators take advantage of it in order to provide the traders that use their services with a quick, convenient and easy way to contact the support staff. Some brokers will ask you to input payment information when you sign up, but this is not so common due to the fact that many traders prefer to use a demo account first.

Account Type

Most brokers allow you to register two types of accounts – one with real money and one with fake money. The one using fake money is the so-called demo account. We strongly suggest registering such an account, because it is the most convenient and safe way to learn binary options trading, to get familiar with the trading platform and test your first trading strategies. If you opt for a demo account, then you won’t be asked to input any payment information and you’ll be most likely redirected to a page where you’ll be able to access the trading platform either by download or via your browser.

Verifying Your Account

Most brokers have very strict security measures when it comes to account registration, because they need to prevent several things:

- Money fraud
- Prohibit people under 18 years of age from trading
- Identity theft

This is why some brokers will require you to verify your account via one of the following methods:

Call back

Sending a picture or a scanned image of a personal document (driver’s license, passport, etc.)

Many traders hate the long verification process, but it is currently the best way to improve the safety of both the traders and the broker. Naturally, there are some brokers who offer a much easier sign-up process where you’ll only need to verify your account via email.

Conclusion

Depending on the broker you’ve chosen, the registration process may range from several minutes to a couple of hours or even a couple of days. Keep in mind that if a broker doesn’t require specific verification method, this doesn’t necessarily mean that the operator isn’t trustworthy enough. In fact, most binary options brokers are very reliable, so it isn’t likely that you’ll register an account with an inimical binary options broker.

No comments:

Post a Comment