Binary options trading platforms differ in what they offer their traders. This is important to remember when choosing the best binary options platform to suit your needs. The principal difference between these platforms is their layout and the way that the user interacts with the available tools. Interface is a very personal preference and some traders prefer simplicity whilst others may prefer instant access to a wide range of markets.
Another very important difference is the timeframe that the platform allows you to trade. Some binary options brokers offer very short-term trading, as low as sixty second expiry, on their options and the platform will reflect this with the markets that they offer.
How to find the best platform
Searching for the best binary options platform therefore relies on the trader knowing how they prefer to trade. Some traders, for example, will prefer the fast and exciting world of one-minute trading, whilst others will want to purchase binary options with a longer-term perspective. Some platforms may also offer you the ability to purchase options over the weekend whilst others will provide unique options such as touch trading which only need to reach a certain price level to close out in profit.
The binary options industry in constantly creating innovative and profitable options for traders and your choice of these will very much depend on how you want to trade.
Benefits of binary options over spread betting platforms
Binary options platforms are similar to spread betting platforms in combining many markets, across many different asset types in one place. However, they can be seen as better than spread betting platforms with the best binary options platform providing the ability to purchase options 24 hours per day, seven days per week. This unique feature, when most financial markets are closed, often also has higher profit margins than trading during the week with some platforms offering over 500% profit on the initial investment.
If trading at a certain time of day if the most important factor you consider when trading, then be sure to check which platforms offer the most features during the times that you are available to trade. For most people, this will be the deciding factor in their selection of platform.