Before you ever see your first return with binary options, you’ll need a broker to assist with every trade.
It’s easy to see this role as a relatively simple one, but the truth is that your binary options broker is an essential element of a successful approach to trading. This is why you need to only deal with the best.
If you’ve become convinced that your broker isn’t, then it’s time to move on.
Take Action Immediately
The second you decide your binary options broker isn’t worth your money, it’s time to take action. If at all possible, stop trading with them.
There are a couple reasons to do this. For one thing, you don’t want to miss some rule change that locks you in or otherwise makes it harder to remove all your money from them. Also, many brokers will have similar rules for signing up with them in the first place. If you have to give some form of fair notice, the earlier you do so, the better.
Then make sure that you begin looking for a new broker immediately. If you can’t change up for, say, 30 days, take all 30 days to do it. There’s no rush at that point and you want to be sure you pick the absolute best for sure this time.
Consider What Went Wrong
One of the easiest ways to be happier the second time around is to take a hard look at what you didn’t like about your last binary options broker. List those things out and then look for potential candidates that will address these concerns. If you’re having a hard time figuring out if they will or not, send them an email.
Most brokers, no matter how successful they already are, will jump at the opportunity to take on a new client. Now you’re giving them the opportunity to do so.
Consider Upping Your Budget
Unless you’re leaving your last binary options broker because they charged too much, it’s not a bad idea to think about spending more the second time around. Maybe your broker wasn’t very impressive because they weren’t making a ton of money doing it. That’s no excuse to underperform, of course. However, it’s common sense that you get what you pay for too.
Even if you thought you paid too much the last time, you may find that paying more with a better broker is worth it. They may offer more guidance, a better platform, great customer support, etc. Although you have to spend more upfront, it might be a worthwhile investment in the end.
Never stick around with a binary options broker who isn’t meeting your expectations. These professionals play too big a role where your profits are concerned to settle for anything but the best. If you’ve decided it’s time to move on, the above will help you make the second try count.