meant for everyone and only the experienced ones are able to make money while the novices are left to fend for themselves. A better alternative to FX trade is Binary Options trading which offers a plethora of opportunities to both new as well as skilled traders. If you are someone who hails from Canada and looking for the best Canadian Binary Options Brokers, then you are at the right place. Here we will provide a comprehensive review of the reputed brokers that accepts Canadian residents and you can select the one suited to your needs.
Best Rated Canadian Binary Options Brokers
Given below are two of the best-rated brokers in the industry that accepts residents from Canada for binary options trading. These are very reputed merchants and are known for high-quality service.
- Banc De Binary: It is a highly trustworthy broker with offices in more than 80 different countries across the globe. It has its headquarters in New York and is regarded as the industry leader in binary options trade. It was founded in the late 2000 and it is known for its professional and multi-product trading platform. It offers more than 90 different assets with world-class customer service. It offers 4 different types of account to its customers and one can open a trading account with just $250. The broker offers “100% First Deposit Bonus” to the new traders with hassle-free deposits and withdrawals. One can get in contact with the customer care executives through live chats, email, and telephone.
- Opteck: It is another very trustworthy and credible binary options broker for Canada that offers great features and services to its customers. It was founded in 2011 and one can open a trading account with this broker by just investing $200. It accepts four different types of account currency namely JPY, EUR, GBP, and USD. Welcome bonus up to 50% is available to the customers who register for the first time with this merchant. Opteck offers its own propriety platform and offers demo accounts for an expiry period of 30 days for everyone. It has a nice collection of assets and payouts range from 60-85 percent. The broker offers 15 percent refund rate on OTM trades and customer support is available in 9 different languages.
Important Customer Service features to Look for in Canadian Binary Options Brokers
- Some brokers will receive some amount of money in the form of fees if you lose a given trade. While, there are some brokers who will charge fees for executing a given transaction. If your broker accepts both the fees, then make sure that it is reasonable and it should not be more than 15%.
- Customer service is important and before you select your choice of broker, make sure that it offers telephone, email or live chat in order to communicate with them. Before you sign up any broker, give a test run to the customer service and hence you will be able to get aware of its overall customer support program.
- If you are able to find a broker that is able to offer a refund when you lose a given trade, it will be extremely beneficial for you. Some merchants would do that and you will need to ask them in the first place. You need to make sure that the refund money should be at least 15% in order to make the trading loss look viable and will be able to give a good incentive to you in return.
Selecting a broker for binary options trading is a pure art and it is not something to be taken lightly. You need to do some background checking and find out whether the broker has some bad history or not. Read the feedback of the customers concerned and hence you will have a proper understand about the overall credibility of the broker. The Canadian Binary Options Brokers that are mentioned above are best in business and have a great name in the industry. You are free to open a trading account with any of these aforementioned brokers and start your trading account for a sound career in binary options.