Binary options are a way to trade without needing to have a vast amount of capital available to start buying shares with. Instead of purchasing shares you are able to speculate on the direction a share price will move in. This involves much less cost; merely the amount you wish to spend purchasing your option. If your prediction is correct you can gain a rate of return as high as ninety percent! If you are wrong you lose your investment. The beauty of this type of trading is not just the simplicity; it is the fact that you will always know what you could gain, or lose before you commit to a trade.
There are several binary options brokers offering their services to Canadians; however it may be difficult to know which broker is safe to trade with and which is not. This is because there is no official regulation of binary options in Canada. This means it is legal to use a Canadian binary options broker or one registered elsewhere. In reality, there are very few, if any, Canadian based binary options brokers; the complications of three different sets of rules and regulations has put off most brokers. Instead you will need to trade with one registered in another country. Finpari is one broker who does accept Canadian traders and offers a good range of services:
This broker established itself in 2014 and has quickly become one of the best known brokers as well as being well respected. It is based in the UK and was one of the first brokers to offer a one hour withdrawal service.
The broker uses the popular Spot option software; this ensures the platform is easily recognizable and user friendly to most traders. They offer returns as high as ninety percent yet you can trade for just $1 per trade! The minimum deposit required to start trading is an industry average $250.
One feature that often attracts new traders is the bonus structure. Traders with the basic level account will receive a twenty percent welcome incentive, the middle account holders receive fifty percent and the top account holders can see their funds matched. Even more impressive is the weekly prize draw which is free for all traders to enter. The prize, which is allocated to the top four traders, is a huge $20,000 credit to their account. The rest of the top ten traders receive smaller prizes.
There is also an impressive array of educational material; stretching from traditional strategies to fundamental and technical analysis assistance. Finpari aim to help all traders become better and more successful traders.
Finpari also has an excellent customer service team. They can be contacted via the phone, email of live chat. They are even able to offer support in several different languages and have local phone numbers for traders in a variety of countries. They are truly a global company! The service is fast and friendly; all support staff have a good level of knowledge regarding binary trading and the options available to a trader.
In common with most brokers Finpari offers a dazzling array of payment methods; from the traditional credit or debit card to electronic options such as Paypal or Webmoney. Although all withdrawal requests are processed within an hour it can still take several days for the funds to reach your account. This is due to the time taken by your payment provider to process the payment and not by Finpari.
With a large selection of assets and a good range of trading types it is difficult to imagine a better binary options broker. No matter where you are based you can safely use this service.