Those interested in using binary options to add to their investment portfolios may be curious about the accuracy and veracity of the real time market quotes that option brokers use as the basis for the binary option trading they provide.
After all, when a trader purchases a binary option, he is basically investing on what the realtime market quote of specific financial asset will be at a specific point in time in the future. So, the the source of the realtime market data is crucial to the safety and security of the trader’s investment.
Despite the fact that there are various sources for realtime market data for stocks, indices, commodities and forex markets that option brokers can choose from, the overwhelming majority of them choose Reuters to provide these extremely time-sensitive market quotes.
In fact, almost all the major binary option trading platform software providers including ParagonEX, SpotOption, and Tradologic and all of the websites they power use Reuters as the basis for their binary options quotes. (Click here to read more about binary option trading platform software providers).
Reuters, which is now called Thomson Reuters following its acquisition by The Thomson Corporation in 2008, is generally considered to be the global standard for realtime financial market information.
Originally established in London in 1851 by Paul Julius Reuter, Thomson Reuters has grown into a massive international conglomerate providing up-to-the-minute news and information in a wide range of fields from health care to science to finance.
The company is publicly traded on the Toronto Stock Exchange as well as in New York on the New York Stock Exchange where it also has its global headquarters.
So, if you’re considering binary options trading, you can rest assured that if you’re using one of the major binary option brokers you will be getting realtime and accurate market quotes from Reuters. No matter where you choose to do your binary option trading, it’s probably a good idea to double check with your option broker just to be absolutely certain of where they’re getting their market quotes.
Keep in mind that some other sources for realtime financial market quotes such as Bloomberg and InteractiveData also provide respected and standard-setting financial market information as well. So, if your option broker is not using Reuters, they may get their data from another equally respected financial news corporation.
Lastly, if you ever have any doubt about the result of a closed binary option position make sure to contact the broker’s customer service directly. You can always compare the closing rate listed for the underlying asset on your binary option and compare it with other financial news sources to make 110% sure that everything matches up.
Almost all brokers abide by the “the customer is always right” mantra if there is some disagreement between you, so rest assured you’ll usually be refunded the cost of your trade if you have a legitimate concern.