How we determine the rank of each broker

How we determine the rank of each broker

Ranking plays a huge role in analyzing the brokers. It is what differentiates the good brokers from the great ones. We have a reliable system of ranking that blends your opinions and our analysis. It is honest and we work hard to keep it that way.

We go through scores of brokers so that you don’t have to. Our metric of scoring brokers is fairly relative but signifies its strength or weakness in that particular parameter. We take pride in doing quality work that helps newcomers and experienced traders alike.

Our rigorous process yields a particularly low error rate each year. We provide users with an analysis that they can trust blindly. Let us give you a lowdown on what it takes for a broker to break it in our ranking system.

Before we start working on our rankings, we set out to answer a few questions that will eventually help us answer the needs of the consumer:

  • Is the broker reliable? Or, can I trust the exchange I am using?

  • Will the broker support me when things get rough?

  • Are the other traders satisfied with the services provided by the broker? If not, what can I learn from their experience?

  • Is the broker regulated and legitimate?

Next, we focus on what services are provided by the broker. This can be broken down into five essential services that a broker must possess, and then we analyze how well the broker actually provides the said services. These are:

Withdrawal

Withdrawal is one of the major points of interest in a broker for a trader. A lot of this section is based off of our own experience with the exchange as well as our readers’ experience. We get down to the business next.

Every trader wants the best returns for his/her buck. While this is not always possible, some brokers are leaps and bounds ahead of the others. We give them a preference. It works on more levels than one as the experience of the withdrawal is also important. A seamless experience will always be weighted more than a clunky one with a marginally better rate.

Investment

Investment is another area that we consider in order to rank a broker. In fact, it is the very first component of the trading journey of a trader. Brokers should provide the easiest and quickest investment ways to their traders, along with giving special heed to the safety of their traders. We check that every broker fulfills this point.

Education

Everyday a lot of traders join the industry of binary options. Therefore, they crave for more knowledge. We want brokers to be as much educated as they can in this

arena. This is because trading binary options are not just online gambling; its way more than that since it requires good focus and learning in order to be successful. Thus, we ask traders about their source of the learning experience.

Support

Support is a significant part of trading since it assists traders to determine relevant answers to several trading issues, along with ensuring that they receive an effective trading experience. Support can be attained via various channels and ways. Therefore, we ask our traders about the source of their support system that they get from their individual brokers and how their brokers solved their queries.

Bonus

Everyone likes a bonus and so does the traders. Bonuses enable traders to trade more and thus get higher returns. However, not everyone gets a bonus; only the ones who perform certain actions get them. We ask traders to quote the bonuses they receive from their respective brokers and about the methods related to it.

Through these 5 yardsticks, we assess the ranking of every broker in the market. The results help us know whether the broker is reliable or not. We put the ranking of the top brokers on our top brokers list according to their total score.

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