Introduction To Android OS in Binary Options Mobile Trading
Android is the most popular operating system in the market, with over 63% of mobile users running their devices on the open-source mobile operating system. Android has become the most authoritative OS in recent times, helped in huge part by the intent of device manufacturers to install the latest version of Android on their smartphones and tablets. Android is now owned and maintained by Google, which helps in improving its credibility as a dependable platform for mobile devices.
Several renowned mobile and tablet companies are known to continually upgrade and reinvent their devices, in an attempt to capture a significant share of the consumer market. Nowadays, consumers can buy a high-end mobile device at a fraction of the cost of what would be required to invest in a full-fledged trading terminal. The ease of accessibility of devices and the open-source nature of Android platform has certainly contributed to the popularity of Android as a popular mobile operating system.
Owing to the surging popularity of Android-enabled mobile devices, binary options brokers have realised the untapped potential of catering to one of the largest user-bases in the world. Therefore, companies, as well as programmers and platform developers, have concentrated on designing user-friendly Android binary options platforms for mobile users, without forcing traders into making any compromises.
Significance Of Android In Smartphone & Tablet Trading
Android only has a single largest competitor in the mobile market, which comes in the form of iOS. Unlike iOS products such as iPhones and iPads, Android devices are not as expensive, which makes it highly attractive for consumers. Android tablets and smartphones are also known to have advanced configurations and enhanced specifications than some of its other direct competitors in the market, which makes it easier and convenient for users to trade binary options on the go. The open-source nature of Android, along with the ease of programming, also helps Android users to find compatible apps for binary options trading with relative ease.
Regardless of the popularity and compatibility of Android trading platforms, Android may be slightly less-secure than its immediate competitor. iOS enabled devices are known for its high safety standards, which are attributed to the way iOS devices are engineered and programmed. On the other hand, Android operating systems do have some security concerns, which are augmented by the open-source design platform. Nevertheless, binary options brokers do employ some unique security protocols and enhanced client protection strategies to ensure that traders can enjoy the most secure binary options trading environment.
The Advantages Of Trading Binary Options On Android Devices
There are numerous positives for traders who wish to invest in the binary options market through their Android device. We will slowly consider all the benefits of Android binary apps to discover whether trading with an Android device is indeed suited to your requirements.
Android Devices Are Relatively Inexpensive: Android devices are usually inexpensive when compared to other premium devices, which opens up the binary options market to a wide range of mobile users. Even if a trader does not have an Android-enabled device, he/she can easily purchase a high-end smartphone or tablet at a fraction of the cost and start trading with a low initial capital. The low-cost nature of Android mobile devices is one of the primary reasons behind the rising number of Android users in the market.
Plenty of Platform Options: Since the market is saturated with Android devices, platform developers and binary options brokers never discard the prospects of catering to Android users. There are very few brokers that do not provide mobile trading support with Android platforms, as a majority of binary options brokers do have a dedicated binary options mobile platform for Android operating system.
More Options For Finding A Regulated Broker: Since a majority of brokers support trading on Android platforms, it is relatively easy for traders to find a regulated and credible binary options broker. Trading with a regulated broker is advantageous from a trader’s perspective, not only for ensuring the security of funds but also for enjoying a trading account that has a reduced conflict of interest.
Ease Of Access & Flexibility: Trading on mobile platforms offer an incredible amount of flexibility for trading, and Android binary options traders can enjoy 24X7 access to the markets without any significant downtime.
Open Source Nature Ensures Compatibility With Third-Party Apps: Binary options traders may sometimes require the services of third-parties such as signals service providers, automated trading, and social trading tools. Android operating systems help traders to move between different apps in a seamless manner, and also help in using different apps in conjunction with each other. Android is one of the very few mobile operating systems that offer such a capability.
Special Rewards & Bonuses For Android Platforms: It is common for brokers to offer extended bonuses, rewards, and other promotional offers, exclusively for its mobile users. Binary traders using the Android platform may also qualify for higher bonuses, depending on the broker and the size of the deposit. Although binary options brokers may lure traders into opening an account with massive bonus offers, always read the terms and conditions of such offers before accepting them.
The General Problems Faced By Android Binary Options Platforms
Android apps are typically the best platforms for binary options trading, but there are a few issues that may prevent traders from relishing in a comfortable trading environment. Here are some of the typical problems that you should be aware of:
Not Secure Enough: Despite numerous attempts by brokers and platform developers to make binary options apps more secure against phishing and malware attacks, there is a considerable risk to traders when it comes to using Android apps for binary trading. Other supported apps on the phone may also use data from the binary trading apps, which can lead to identity thefts and loss of investments. To stay safe against such issues, traders must be cautious against installing apps from sources that they do not trust. It would also be a wise idea to have a separate device for binary options trading, as it will help in enhancing the security aspect.
Platform Errors: Apps on Android have a general tendency to slow up, freeze, and sometimes crash. These issues may not cause any major repercussions for regular apps, but in the world of binary options trading, they can have devastating effects. Binary options trading is a fast-paced environment, where trades are entered and exited within seconds. Therefore, any type of platform errors or stuck interfaces can lead to potentially huge losses. Always update the binary trading application and your device’s operating system to prevent any such instances.
Incompatible With Low-Spec Devices: Although Android is capable of running on all types of smartphones and tablets with the smallest processing power, mobile binary options trading platforms usually specify a minimum specification for a reliable trading experience. Running Android binary options apps on low-spec devices can also result in a sub-par platform performance, which can lead to platform errors such as slow speeds, frozen screens, and other glitches.
Battery Usage & Heat: Binary trading apps consume a lot of resources, especially if a trader runs a lot of different applications in the background. Binary mobile platforms have advanced charting and trading options, which keep the screen active for a fair amount of time. Therefore, binary apps may consume a significant chunk of battery reserves, which can additionally lead to other issues such as phones heating up and increased wear and tear. Make sure to turn off all background applications while running a binary options platform, which not only helps in reducing the heat and battery usage but also helps in utilising the entire performance on tap for error-free trading.
Do All Brokers Offer A Dedicated Android Binary Trading App?
Under regular circumstances, most binary options brokers offer a dedicated Android platform for their binary accounts service. However, there may be exceptions to this case, particularly in an occasion where brokers restrict the platform options to just the web trading interface. Web Traders are used extensively in the binary options market, as almost all companies in the industry have a dedicated web trading platform for their clients.
These web trading interfaces are either developed by third-party developers, or by the broker as a proprietary platform and are usually built on a responsive platform to ensure that they can be accessed through both desktop and mobile devices. Web Traders are usually designed to be compatible with all known web browsers and are available for all mobile devices, including smartphones and tablets.
“These web trading platforms ensure full market access to binary options traders and are an excellent alternative to Android trading platforms.”
Therefore, brokers often try to minimise their expenditure by sticking to a single trading interface and by preventing the allocation of any resources to the development of dedicated mobile trading platforms. It is indeed imperative for traders to choose a broker that concentrates on all aspects of trading, rather than investing with a broker that tries to cut corners in an attempt to increase profits. Eventually, as a trader, you should never feel forced into opening an account at a broker that does not satisfy your requirements.
How To Sign Up For A Binary Options Account From An Android Device
Step 1: Choose A Broker – The first step towards opening an account for Android Binary Options trading is to choose a broker that offers a dedicated mobile trading app for Android devices. While choosing a broker, you must be careful about the company’s promotional or marketing campaigns, which may falsely claim to offer you mobile access. In such cases, traders’ options are limited to web traders, which are not the same as a standalone Android app. If in doubt, get in touch with the customer service department, and ask them to send you the relevant Google Play Store links to their mobile trading apps. Alternatively, your best bet is to choose your preferred broker from our list of highly recommended binary options brokers, who can not only provide the best Android binary platforms but also provide excellent products and trading accounts through a regulated environment.
Step 2: Visit Google Play Store To Download The Binary App – The best feature of Binary apps for Android is that they are compatible with almost all smartphones and tablets that satisfy the minimum configuration requirements for binary trading. A simple search on the Play Store can yield countless results for binary options trading apps, or you can also follow the broker’s platform installation instructions to get a direct download link to a particular trading platform. Once you download the app, you can either sign up for a new account or use our existing login information to access your current trading account and start trading.
Step 3: Demo Trading – Unless you are familiar with the mobile trading interface, always make it a priority to demo trade the platform before investing real money in the markets. A lack of awareness of the different features of a platform can often lead to errors in trading, which can result in massive losses. Always take your time to trade with virtual money, and only move to a live trading account after getting familiar with the Android app. Most brokers offer a demo account, at least after making a deposit, but in case you are unable to trade on a demo account, try to minimise your investments to a smaller level until you are comfortable with the platform. All of our recommended binary options brokers offer a free demo account to all users, which make it easy for you to choose a reliable platform without any significant troubles.
Step 4: Invest Your Initial Trading Capital – Almost all binary options mobile apps for Android devices allow its users to make a deposit or withdrawal through the mobile platform itself. Due to the increased security protocols employed by brokers, financial transactions performed through an Android binary app is safer than ever. Android applications do allow traders to make payments using credit/debit cards and e-wallets such as Skrill, WebMoney, and Neteller. Of course, Android users may be a bit concerned about the security issues, but you can exercise caution by only installing apps that you trust. Alternatively, it is also preferable for traders to use standalone mobile trading devices for binary options, which can help in enhancing the safety of financial transactions.
Step 4: Trade – Trading is the final step of opening an account through Android platforms. Android apps have pleasing user interfaces and clean layouts, which makes trading easier than in desktop platforms. However, you may face slight issues when it comes to analysing the markets, as the smaller screens may not be as conducive to advanced charting options as one would expect.
Discover the Best Binary Brokers for 2021
Below, you can register with our best brokers for binary options. Each broker on this list offers great features, including rewarding bonuses, intuitive trading platforms, accessible account types, and more. Select one now to trade binary options with confidence.
- IQ Option
IQ Option is a well-respected broker with top-tier regulation from CySEC. They offer a diverse range of binary options, with potential returns of up to 95%. You can start trading these options for as little as $1 or open a free demo account with $10,000 of virtual funds. Besides binary options, IQ Option also offers FX options, digital options, forex currency pairs and over 250 other CFDs ranging from commodities to cryptocurrencies.
Register with IQ Options to trade binary options safely now.
A popular international binary broker, RaceOption stands out from the crowd by having one of the best trading platforms around. With state-of-the-art technology, you can expect non-stop trading, super quick withdrawals, and instant execution. RaceOption has a reasonable minimum deposit requirement of $250 and a $1 minimum trade size, which makes it perfect for beginners. You can also take advantage of multiple bonuses, contests and promotions.
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Binarycent gives you access to options, forex and CFDs via an easy-to-use trading platform. You can select from three account types with a minimum deposit of just $250. Each account comes with a rewarding deposit bonus, quick withdrawals, 24/7 support, and a demo account too. Binary trades start from just $0.10 and the broker boasts a potential returns rate of up to 95%.
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ExpertOption is a global binary broker, serving customers from 48 different countries. With a trading platform that works on all devices, you can easily access over 100 assets whenever and wherever you want. ExpertOption offers six different account types, including a Micro account that only requires $10 to get started. You can also take advantage of the broker’s social trading platform, which enables you to study the trades of VIP clients.
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Important Aspects To Consider Before Choosing A Broker
Regulation – Traders should only choose a regulated broker for binary options trading. Of course, some non-regulated brokers are known to offer genuine services, but it is always better for traders to invest in a regulated and authorised financial company.
Quality Of Products – Binary options brokers, should offer a wide range of binary options products and financial instruments for ensuring a broad coverage of the markets. In the best case scenario, brokers must provide at least 100 different assets from Forex, Stocks, Commodities, and Indices markets.
Payouts – Binary options payouts can vary from 60% to 500%, with some binary options providing a higher payout of 1500% for select options. The high ROI is the most lucrative aspect of binary options trading, which is why traders must choose a broker that offers respectable payouts on investments.
Fees Of Trading – Binary options are normally free of any fees or hidden costs, but some brokers may charge additional fees for trading. Regardless, binary options brokers should be transparent about their fee structure and should outline all the details about commissions and other costs that are incurred for maintaining an account at their brokerage.
Payment Modes – Binary options traders have the possibility of making payments through credit/debit cards, bank wire transfers, and e-wallets such as Skrill, Neteller, and WebMoney. Brokers may also provide additional payment options such as Bitcoins, which does increase the choice of payments for all binary options investors.
Withdrawals – A broker must realistically aim to obtain a 100% success rate in withdrawals, which can only be achieved by processing all clients’ withdrawals on time. You must consider investing in a broker’s products, only if they have a history of processing all withdrawals without any issues.
Customer Service – Customer service is an important aspect of binary options trading. Traders should be able to get in touch with the broker’s representatives at any time of the day and be able to receive professional assistance for all matters, without fail.
A Conclusion To Investing In Binary Options Via Android Mobile Trading Interfaces
Android has the largest number of binary options mobile traders in the market, owing to the popularity of Android in the smartphone and tablet market. Brokers are also committed to providing a safe and secure mobile trading experience, which has helped traders to enjoy a consistent trading platform with Android binary trading apps. However, before choosing Android platforms, always consider your trading requirements, and whether switching to a mobile platform will result in any severe changes to your trading performance or bottom line.