Do you want to find the top binary options brokers? We examined and compared many licensed binary options brokers and sites.
This comparison includes a comprehensive list of the top and most recommended brokers and sites to assist you in finding the best binary options platform that will fit both novice and experienced traders.
In this post, you can read our evaluations of each broker, this data about brokers will assist you in comparing them and making the best option.
This review includes recommendations on picking the best trading platform based on your unique requirements as a binary options broker.
Top 5 Binary Options Brokers:
1. BinaryCenet:
This trading platform focuses on FX CFDs. You trade binary options using forex as the underlying asset, which is a bit different from other trading platforms. BinaryCent is popular due to its cheap minimum investment amount; you need roughly $0.10 to invest in it.
BinaryCent has three account categories, ranging from Bronze to Silver to Gold, based on your initial capital. Deposits start at $250 and go up to $3000, with live video assistance available 24 hours a day, seven days a week, and bonus features of up to 20%.
Extra training tools, a 50% bonus, and three risk-free trades are available with the Silver account.
Finally, the Gold account receives an individual success manager with a 100% bonus. As you can see, the potential gains with BinaryCent are pretty considerable.
They also provide a demo account for new traders and high profits of up to 95%; this will assist novice traders in developing binary options trading tactics and eventually improving their abilities and profitability. Most mobile phones, with Windows and Mac browsers, can access the platform.
Its main disadvantage is that they do not provide trading signals; you will have to depend on the research of your forex assets to execute a transaction. In comparison to other trading sites, this puts you somewhat in the dark.
Nonetheless, we feel BinaryCent provides features, bonuses, and extras that you will not find anywhere else. That is why we consider it to be the best binary options platform accessible.
Pros:
• Easily accessible.
• High incentives are permitted.
• Overall low fees.
• A wealth of instructional resources
• 24-hour customer service.
Cons:
• No trading signals are provided.
2. RaceOption:
It is a well-known binary options company. To put it simply, it’s an excellent binary options broker. It was only in 2014 when RaceOption, based in the Marshall Islands, was established. It is one of the few binary options brokers that accept customers from the United States and throughout the globe.
This broker lets you make up to 95% profit in 60 seconds on over 150 global assets such as equities, foreign currencies, commodities, and indexes. You may also trade forex and other assets on the site using CFDs.
Only a few binary options brokers provide Copy Trading, a popular way for new traders to learn the ropes of binary options trading by following in the footsteps of more experienced, registered users.
Unlike other brokers, contacting customer support is as simple as clicking a button in the bottom right corner of your screen.
RaceOption’s transaction costs per cart may reach 5%, but you can pay with bitcoin, Ethereum, and other cryptocurrencies without fees, by using the Perfect Money electronic wallet.
Pros:
• Available in many highly regulated nations
• No limits depending on consumers’ native country
• Provides a wide range of financing possibilities in many marketplaces.
• Bonuses for deposits of up to 100% are available.
Cons:
• A $250 deposit is required.
• The maximum payout is just 90%.
3. Nadex:
Nadex is a binary options exchange headquartered in Chicago, Illinois. The CFTC has approved Nadex as the sole regulated broker in the United States.
Nadex provides trading platforms that enable you to experiment with short-term price swings in a wide range of marketplaces.
Binary options, touch brackets, and call spread contracts are all available. To guarantee the safety and security of your assets, the CFTC requires that any cash you deposit maintain in separate bank accounts.
Using its proprietary software, the Nadex Trader Platform allows you to make orders directly to the exchange. Over 5,000 contracts are filtered daily by asset class, expiration time, and price. Nadex imposes a $1 trading fee per contract for binary options on both the entrance and exit sides of the deal.
Furthermore, for deals that end “in the money,” Nadex adds a $1 settlement fee per contract. If your binary options deal ends “out of the money,” there is no settlement charge.
If you wish to try out the Nadex platform, you may establish a demo trading account with $25,000 in simulated money. The minimum deposit for genuine accounts is $250.
Pros:
• Many markets
• The only regulated binary options platform in the United States
• User-friendly software.
• A demo account with $10,000 in virtual money.
• Fees are often inexpensive.
• There is no minimum initial deposit amount.
Cons:
• Limited supply of research papers and tools
4. IQ Option:
This binary options broker situated in Cyprus is one of the most successful online options brokers available. They conduct over 1 million deals and have customers from 213 countries, including 43 million active monthly users daily.
They trade binary options along with over 300 other assets such as CFDs, commodities, and EFTs. As a result, they’re an excellent platform if you want to start with binary options but eventually expand out into other options.
They provide a web-based platform, or you may utilize one of the trading programs for desktop computers or mobile phones.
Furthermore, IQ Option provides demo accounts with $10,000 in “virtual currency” to allow you to explore. Overall, it’s user-friendly, since the interface is simple to grasp. They contain a variety of layout options as well as financial information panels.
Determining the best technical analysis or warning systems to utilize is straightforward, but there is a layer of depth concealed underneath that you can use to customize your platform experience.
Furthermore, they provide risk-management features like stop-loss options, trailing stops, and debit protection to both beginner and experienced traders.
Their market possibilities are wide, with several digital solutions for trading accessible. They’re also reasonably accessible, with a one-dollar minimum investment and maximum returns of about 95 percent profit on your position.
Pros:
• Very accessible
• Simple platform interface
• Low deposits and fees
• High maximum payments
• Diverse account options
• Demo
Cons:
• Market availability is limited.
5. ExpertOption:
ExpertOption is a reputable broker that has been in business since 2014, providing binary options on a wide range of assets such as stocks, bitcoin, forex, and commodities.
ExpertOption is based in Saint Vincent and the Grenadines and is governed by the VFSC (Vanuatu Financial Services Commission) and the FMRRC (Financial Market Regulation and Regulatory Commission) (Financial Market Relations Regulation Center). This broker has over 32,000,000 registered users on its site and services customers from over 150 countries.
ExpertOption has some of the best payouts on the market, with earnings of up to 95%. Their platform is simple to use for novices, but it also has features that professional traders will enjoy, such as four distinct chart formats, eight indicators, and trend lines.
ExpertOption also provides Social Trading, which enables you to trade binary options with your friends or monitor other VIP users to monitor their current transactions in real-time.
ExpertOption accepts more than 20 payment options, including E-Wallets, credit cards, bitcoin, and bank transfers. This binary broker also provides a free demo account that does not need registration. ExpertOption is a viable alternative if you want high rewards and a reliable trading platform.
Pros:
• The deposit limit is low.
• Maximum returns are high.
• A user-friendly platform is available on the site.
Cons:
• No US consumers are permitted.
• A little higher minimum deposit.
Things To Consider For Choosing The Best Binary Options Brokers:
Regulated Brokers:
The first thing you should check is if the binary options broker is licensed. It is essential to choose a registered broker since this indicates that there is some government control looking out for the investor, even if the regulating body is not located in your area.
Many licensed binary options firms are now regulated by the Cyprus Securities and Exchange Commission or CySEC. This commission is part of MiFID, the statute that harmonizes EU regulation, enabling CySEC-regulated brokers direct access to any MiFID-compliant market.
For safeguarding the European public against financial frauds, CySEC is quite active. If the broker does not follow the norms and regulations of its license, or if it fraudulently claims to be a CySEC-regulated broker, the regulator will use all available means to deal with the unauthorized firm.
Ease Of Use:
Some binary options providers offer more user-friendly interfaces than others. Others’ execution times may be quicker. The better brokers generally provide mobile trading as well, and you can even check out their trading platforms without initially signing up with them.
Asset Classes & Payout:
Not every broker provides the same range of tradable assets. Don’t assume that since Broker A sells binary options on Facebook shares, Broker B will follow suit. Even if Broker B does provide Facebook shares for trading, the compensation may vary.
Trial Account Availability
Use a binary options broker that offers a demo trading account, which allows you to test your tactics with simulated money. Also, ensure that the demo account is utilizing real-time market data rather than pre-recorded data streams.
Beginners should practice trading with a demo account until they can regularly make winning trades before investing real money.
Ease Of Withdrawals:
Some brokerages are notoriously late for returning customer funds. Even if you are satisfied with the broker’s other features, you should perform a modest test withdrawal before making a larger deposit. Any broker should send funds to your account between 3 to 5 business days.
Conclusion:
Choosing a binary options broker is not as easy as it seems. It includes various critical variables, and each broker provides something unique. The best binary brokers go above and beyond the fundamentals, so do your homework before making your first investment.