“I couldn’t withdraw my funds”, “My account was frozen”, “My welcome bonus was not deposited”, “The binary options broker is a scam and ran away”, “The binary options broker is not contactable and ignored my emails” – These are very very frequent feedback from clients who have experience trading with pure play Binary Option Brokers.

In this article we want to highlight why everyone should trade through an established Forex Broker instead. Yes, there are a few forex brokers out there who offer binary option trading, and here’s why you should transfer your funds to them:

1. More Established with Better Reputation and Regulation

Forex trading has been around longer than binary option trading, and needless to say Forex Brokerage as a business is widely regulated and watched over by customers and review sites alike. One wrong move and forex brokers have a lot to lose, not to mention hefty fines by regulators if clients are abused. Forex Brokers have a long standing reputation to upkeep after all their years of hard work. If they mistreat you, you can always purse legal action and you know the lawyer’s letter will reach their doorstep.

2. Binary Option Commissions Are Not Their Bread and Butter

Since binary option trading only recently made their foray into the forex markets, the bulk of forex brokers’ revenues are still from forex trading. Just like a casino, brokers take the opposite position on binary options, so if you are winning consistently, a binary option broker will bleed consistently – because of you! Casinos kick people out, who knows what binary option brokers will do. This is why a forex broker with diversified income can better stomach losing money from taking your opposite position. Many forex brokers have an institutional arm as well so retail brokerage is just a portion of their revenues, they are less likely to close shop because you are winning, so your funds are safer.

3. Advanced Charting facilities on MetaTrader 4

There are a few forex brokers who allow binary option trading on Metatrader4, and we all know MT4 comes with comprehensive charting capabilities with millions of articles and videos all over the web teaching you how to use them! This means technical analysis can be applied on binary option trading, no need for guess work any more. Bring on the strategies and chart patterns!

4. Expert Advisors and Robots Can Trade on Your Behalf

Trading can be a career yes but it is pretty darn tiring watching markets 24/5. Even if you allocate just an hour a day to trade, why not catch all the opportunities in the other 23 hours? This can only be done by a robot on MetaTrader 4, also known as an Expert Advisor (EA) which is basically a software coded to execute trades on its own based on a trade logic defined by you. So while you are sleeping or at work, you can set the EA to trade binary options automatically for you. How sweet is that!

5. Convenience From All in One Trading Account

You can trade both Forex and Binary Options from the same one account, with the same funds. You do not have to open and manage 2 separate accounts. Naturally, you will be able to monitor forex and binary positions concurrently. Software or trading tools can also be shared between the 2 trading products as well.

You might ask, why then does anyone fund with Pure Play Binary Option Brokers? The key reasons are:

• They do not know about forex brokers and the wonderful reasons above, because they only heard of binary option brokers.
• Some of these binary option brokers have very pretty desktop and mobile trading platforms which are more appealing to the individual eyes. But having said that, the MT4 platform is very pretty to us too!
• Some of these binary option brokers allow you to trade from just $1, compared to a forex broker’s $5. Also, they can allow trades of up to $100,000 in size, as opposed to a maximum trade size of $1,000 on forex brokers. In other words, if you are a super high roller, forex brokers do not allow you to trade huge amounts per trade.
• Some of these binary option brokers have very aggressive welcome bonuses or rewards which attract traders.
• Binary Option brokers normally have you trade directly on their website. Some people do not want to install software on their computers, which is required for Metatrader 4 and the binary options plugin.
• Some traders do not want charts, they just want a simple way to enter buy and sell trades so a regular binary option trading website is sufficient for them.

So there you go, the pros and cons of binary option brokers vs forex brokers. Please share your experience with the various brokers below!

Click here to try a free demo Metatrader 4 for Binary Options!