Which is the best broker?
The best according to most traders is IQ Option, but being reserved for the “Pros” (in Europe) it is not accessible to most. A valid alternative is definitely Pocket Option (Euro Link) (International Link), in practice the most requested and used.
Then follow others for different needs, such as Stars Binary for payouts, Binarium for maturities, GC Option for MT4 binaries (it is not the only one), TRIBTC for trading between traders etc.
The list is long and you need to find out which one is the most suitable broker for your needs, reading the reviews and participating in the telegram chats. In any case, Forzaforex.it recommends only the serious ones who pay, and with whom it has a privileged relationship of assistance and communication.
Broker Agreements
Few care to read the contract between broker and client. Often it is not easy to find on the site and even being able to find the right page, it is often in English and written in a rather technical way.
It is also not present in the trading platform, but you have to look for it on the broker page. Instead it is essential to read it in order not to suddenly find yourself with the refusal of withdrawal or even with the account closed.
However the contracts are often similar, with some broker customization, so first check if the following actions are allowed (just ask the broker).
Some examples give the idea (Iq Option, Stars Binary, Pocket Option).
We extrapolate some paragraphs of particular interest to the trader, the complete contracts can be found in the links.
Iq Option Agreement
4g. The Customer agrees that the Company may, at any time, for any reason, without justification and at its discretion, refuse to execute any order … in the event that the Customer … is resident in any country in the European Economic Area.
7e. The Customer acknowledges that frequent accesses and logins to the Account made via different IP addresses from different countries and / or through the use of a VPN … constitute a signal that leads the Company to reasonably believe that sections 3 paragraph 6 and 7 sub – paragraph b of this Agreement have been violated (they are below).
Section 3 paragraph 6
The Customer is responsible for all orders made through the use of their security information and any order received in this way by the Company will be considered as executed by the Customer.
As long as orders are submitted through a Client’s Account, the Company will reasonably believe that such orders are submitted by the Client and the Company will have no obligation to investigate the matter further. The Company will not be liable to and / or will not maintain any legal relationship with any third party other than the Customer.
Section 3 Paragraph 7 sub-paragraph b
In the event that the Customer acts on behalf of a third party and / or on behalf of a third party, the Company will not accept this individual as a Customer and will not be responsible for it, regardless of whether that person has been identified or not.
Other examples are found in the Stars Binary contract:
Stars Binary agreement
2.3 The company reserves the right to terminate this Agreement or restore the results of trading operations in the event of an attempt to re-register the Client’s Profile in the Client’s Cabinet (defined above) or in the case of using multiple trading accounts from part of the same Customer.
2:10. The company reserves the right to withdraw from this agreement or restore the results of trading activities in the event of detection of unfair behavior towards the Company.
2:11. The company reserves the right to prohibit the customer from copying transactions from any source and the use of commercial robots in the event of speculation on the copy of a small amount of funds.
2:12. The company reserves the right to terminate this agreement or restore the results of trading activities in the event of the detection of trading operations performed on the Martingale system, subject to subsequent transactions with a new expiry time. This rule does not apply to the use of the “Overlap” button, since in this case the subsequent transaction is carried out within the framework of a price movement forecast.
Pocket Option Agreement
2.3. A customer … is prohibited from having more than one trading account in the Company. The Company reserves the right to terminate this Agreement or restore the results of the Trading Operations in the event of re-registration of the customer’s profile or in the event of the use of multiple trading accounts by the same customer.
2.9. The Company prohibits the Client from resorting to any type of fraudulent activity … aimed at obtaining profit by using actions or operations not imparted by the Company, vulnerability on the Company website, speculation of bonuses and negotiations with a group of people, including but not limited to hedging transactions from different accounts. In this case, the Company reserves the right to terminate this Agreement or to restore the results of trading Transactions.
4.7. The Company reserves the right to refuse the Client to conduct a commercial operation if, at the time the client makes a request to open a contract, the company does not have enough liquidity in the trading instrument chosen by the Client within the expiry of the contract. In this case, after clicking on the corresponding button in the Trading Terminal, the Client receives a notification.
4.11.6. The Company reserves the right to cancel or modify the client’s trading results in the following cases:
– The trading operation is open / closed at a non-market price;
– In case of software failures or other malfunctions on the trading server;
– The synthetic trading operations (blocks) on the option contracts may be invalidated in the event of revealing evident signs of abuse.
A No Eurozone Broker (No ESMA)
(This part is intended for traders from countries that prohibit broker access)
VPN (Virtual Private Network) indicates a “Private Virtual Network” which allows you to connect to an IP address (for example that of IQ Option) from another country.
This means that you can unlock all geographically inaccessible content from the country where you are connected, such as Italy.
If you live in Italy (or in one of the countries whose access to the broker is reserved only for professional users) and you want to use for example a platform like IQ Option for binary options, if you know the risks you can decide to use the VPN applications to trade with this highly sought after broker.
What you can do with the VPN
With a VPN app you have limited access to the IQ Option platform, but you can still:
- Create an account.
- Change your password.
- Request a withdrawal.
- Request or cancel a withdrawal.
The risks associated with the use of the prohibited broker are summarized in the possibility of closing the account with the related risk of zeroing the balance (details in the broker contract, see on)
Those who use the VPN generally never leave large amounts on the account and withdraw often.
You can also ask the opinion of other traders on our IQ Option chat
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