The Best Binary Options Broker 2020!
Perfect Choice For Beginners!
Free Demo Account!
Free Trading Education!
Get Your Sing-Up Bonus Now!
Only For Experienced Traders!
Top 10 Most Popular Binary Options Brokers
User Satisfaction 99%
IQ Option has used the latest technologies to create a trading platform that gives its clients an easy, smooth, and fun trading experience. Read Reviews
User Satisfaction 100%
MarketsWorld is owned and operated in the Isle of Man, Great Britain by MarketsTheWorld Limited. Read Reviews
User Satisfaction 100%
We are the market leader in Europe in the online trade in Binary Options. We make trading in Binary Options reliable, convenient and simple. Read Reviews
User Satisfaction 97%
Ayrex offers the most popular types of binary options and the minimum investment required is just $5. Read Reviews
User Satisfaction 71%
OptionFair is a reliabble binary options broker that provides traders with the ability to trade by investing in a variety of assets. Read Reviews
User Satisfaction 100%
BinaryTilt provides trading solutions for active Binary Option traders, as well as traders that are new to the Binary Options market. Read Reviews
The Best Binary Options Broker 2020!
Perfect Choice For Beginners!
Free Demo Account!
Free Trading Education!
Get Your Sing-Up Bonus Now!
Only For Experienced Traders!
User Satisfaction 100%
Founded in 2020, GTOptions offers high returns of 70% to 90% for a successful trade. Read Reviews
User Satisfaction 100%
OneTwoTrade is a leading provider of binary options trading services to individual traders around the globe. Read Reviews
User Satisfaction 100%
Stockpair is a world leading online platform for binary options and pair options trading. Read Reviews
User Satisfaction 100%
99Binary provides a simple, safe, and informative trading solution for traders to profit from the fast-growing binary options trading market. Read Reviews
How To Choose The Best Binary Option Broker
Binary options trading is a relatively new investment method where you can profit by predicting the price movements of a range of dynamic stocks, commodities, indices, and currency pairs. The main reason why binary options trading has become popular so quickly is because you only have to select Yes or No when placing a trade. This dual choice gives binary options trading its name, and is also the reason why most binary trades are called ‘ Call or Put ’ trades.
Traders do not have to buy the actual asset. You simply have to decide whether the asset price will rise or fall within a specific time period. Binary trading services help individual traders and financial institutions participate in the field of binary options. These brokers provide a range of convenient features, advice and tips, special offers, and reliable customer support to help traders invest successfully. Our financial experts analyzed all the leading binary options brokers in the industry to find out which ones are the best. Below we provide the details of our test and we list the most promising and reliable binary trading services we found on the market.
Methodology of our reviews
To review the services of binary options brokers we carefully studied information available on review websites, business sites, and other reliable online sources. We analyzed all the leading binary options brokers and the services they offer. We also examined the information and details available on the official websites of these brokers. Plus, our experts contacted the brokers to get information on particular aspects of their services.
We used the following criteria to evaluate each binary options broker:
- Trading platform
- Account options
- Available assets
- Customer service quality
- Offered bonuses and rewards
- Unique features
- Trade types
- Payout ratios
Best European Binary Options
People living in a European Member state are allowed to trade freely with any binary options broker based in another Member State. A number of regulatory authorities and bodies license and regulate binary options products and brokers in Europe. Trading with a broker that has a license from a European country means your investment is safeguarded by a number of security requirements and protocols. The Financial Conduct Authority (FCA) is the UK regulatory body for all financial products and services. The Banque de France (BDF) regulates all finance companies and their products in France. The Commissione Nazionale per le Società e la Borsa (CONSOB) does the same job in Italy. The Comisión Nacional Del Mercado de Valores (CNMV) is the regulatory body in Spain. The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) ensures Germany has strict regulations for financial products and services.
Banc de Binary: Banc de Binary is a good choice for newbie traders in the EU as this broker offers extensive trading programs to guide you on how use its trading platforms. US and Israeli residents are barred from using Banc de Binary’s services. The advantages of Banc de Binary are it offers an intuitive and easy-to-use trading platform and there are no fees for deposits and withdrawals. Banc de Binary is a reliable broker as it is licensed by CySEC (Cyprus Securities and Exchange Commission). This broker is also regulated by the countries’ respective financial regulators for its operations in Germany, Italy, Spain, France and the UK. Banc de Binary was established in 2009 and has more than 250,000 customers.
IQ Option: IQ Option is a reliable broker as it is regulated by the Cyprus Securities and Exchange Commission (CySEC). This broker offers returns as high as 92%. Plus, its trading platform is versatile as its supports mobile trading with Android and iOS apps.
24option: 24option is a popular broker that uses an innovative trading platform created by Tech Financials. It offers returns as high as 89% for winning trades. 24option is also a reliable broker as it is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
Best US Binary Options
There is no clear legal landscape for binary options trading in the US. There are two bodies that regulate online financial trading in the US. They are National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC). Both bodies have not shown interest in licensing and regulating binary options brokers in the US. So, US customers have to depend on offshore-based brokers for binary options trading. To avoid becoming victims of fraud, US customers are advised to investigate the broker thoroughly before investing their hard-earned money in trading with them. Make sure the broker offers advantages such as easy deposit and withdrawal methods for US customers, trading in US dollars, and multi-platform access that includes both desktop and mobile trading options.
Porter Finance: Porter Finance is a reliable broker run by experienced professionals. Its trading platform is easy to use and versatile. Plus, Porter Finance employs personal account managers to ensure customers get full attention and support. This broker’s website offers useful information to help you trade profitably. Porter Finance offers a wide range of trading tools. The maximum payout is 85% and the maximum bonus is 100%. Porter Finance is a recommended broker for US traders.
Tradorax: Tradorax is a good choice for US clients. It uses the proven TechFinancials trading platform which is popular among many other brokers too. You can expect returns as high as 85%. Plus, this broker offers welcome bonus ranging from 50% to 200%.
Finpari: Finpari uses the latest version of the proven and reliable SpotOption trading platform. This broker offers average payouts as high as 83%. Plus, it gives 100% bonus as well as first three risk-free trades.
Best UK Binary Options
The Financial Conduct Authority (FCA) supervises and regulates all financial service companies including binary options brokers based in the UK. As the UK is part of the European Union, you are free to use the services of any binary options broker that has a license in any other European country. You can also trade with any broker licensed outside the UK and Europe. However, we recommend you try the services of the three brokers listed below as they have the reputation of providing a secure and safe trading environment.
IQ Option: IQ Option requires a very low minimum deposit of just $10. The minimum investment amount is just $1. IQ Option offers advantages such as a user-friendly interface, excellent returns, wide variety of options, and handsome deposit bonus. Plus, it is a reliable broker as it is regulated by the Cyprus Securities and Exchange Commission (CySEC). IQ Option offers interactive learning tools and a stand-alone demo account for the benefit of customers.
Banc de Binary: Banc De Binary offers a simple trading platform with a range of attractive trading instruments to help traders make profitable trades. Newbie traders can get personal training from their account manager, and trade with a minimum amount of just $1. Experienced traders can make use of trades that expire in nine months.
24option: 24option is a good choice for both high and low volume traders. This broker stands out as it provides useful trading and strategy guides and videos for all levels of traders. Plus, 24option offers handsome bonuses and fast withdrawals as well as excellent support.
How to choose a reliable binary option trading service
Scams occur in all businesses. The skyrocketing global popularity of binary options trading means it has become the target of brokers and hackers who operate fly-by-night services to make a fast buck on the sly. So, it is a good idea to do your research and enter the binary options market slowly and cautiously. Binary options trading began only a few years ago and it is difficult to control and monitor their operations. About 95% of binary options brokers are not regulated by any financial institution.
This means the majority of brokers do not have the backing of a government financial institution to provide traders the assurance their money is safe. Therefore, consider the following points and features to select a reliable and efficient binary options broker:
Is It a Regulated Broker?
Double-check the credentials of the binary brokers you are interested in. This is a time-consuming task but you have to be sure you can trust the broker. Select a broker who is monitored by the regulations of an institution. This ensures the broker is above board and trustworthy. Usually brokers are regulated by institutions in the country they operate in. In the US, brokers are regulated by Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). In the UK, the Financial Conduct Authority (FCA) regulates binary options trading. Other EU countries have their own respective regulatory bodies (CySec, BaFin, etc.), that have the power to try your binary options broker if you suffer a scam.
Try out the demo to learn about the features and practice trading
A demo account, or simulator, can help you to practice trading binary options in a real time environment without risking much money. A few brokers offer a free demo account, while others ask for a small deposit to start using the account. Simply register for an account using your phone number. When customer support contacts you, ask for the demo account and start learning about the features of the particular broker. The following brokers offer a demo account that you can utilize to practice trading at a low cost or for free: CTOption , MarketsWorld , OptionsClick , and OptionBit .
What Trading Platform is Offered?
The broker should offer a trading platform that has a simple user interface. Time is important in trading and each second is vital especially if you have selected the 60-seconds option or your option is near the expiry time. Make sure the software is easy to navigate and straightforward to use. Experienced traders and those who wish to keep track of constant market updates should select a broker that provides a mobile trading app.
What are the Investment Options?
The trader should offer a range of investment options. Apart from the usual Put/Call (Up/Down) option, the broker should also offer Boundary, Option Builder, Touch/No Touch and 60-Seconds options. Except for currency pairs, the broker should enable you to trade stocks, commodities, and indices. Select a broker that offers a platform with graphs that have good history time frames that go back beyond yesterday. This will boost your decision-making and increase the chances of successful trading.
What are the Payment and Withdrawal Options?
The broker should offer convenient payment and withdrawal options. Read the “ Terms and Conditions ” of the broker to know all the details. Select a broker that accepts the largest range of payment and withdrawal methods. The most widely used payment methods are bank transfer, credit/debit card, Moneybookers (Skrill), and Western Union.
When You Lose, Do You Lose Everything?
In binary options trading, you are fully aware of the amount you can win or lose before investing. However, newbies can make wrong investment choices. If you are an inexperienced trader, select a broker that provides a “payout” for losing trades. This means, if you suffer a losing trade, you can get back about 10-15% of the invested money.
You can also select a broker that offers risk-free trades. This is a novel concept where the broker gives 5 to 10 risk-free trades if you deposit the minimum required amount to trade ($200-$250).
Is the Customer Support Prompt and Efficient?
Make sure the broker offers good quality customer support with clear communication. Check out the customer support languages and foreign trading currencies offered. Does the broker offer 24-hour customer service and multiple channels to contact agents? Do they provide loyalty bonuses? Read at least some user reviews of leading binary options brokers on our site. Are traders satisfied with a broker’s services? Do agents respond promptly and thoroughly to questions? Good quality customer support is one of the most important criteria to select a reliable binary options broker.
Leading Binary Trading Services
OptioNet: OptioNet uses the Tech Financials trading platform. Its London operations are governed under the regulations of the UK’s Financial Services Authority (FSA). Payout ratios range between 85% to 89% depending on the trading account. OptioNet offers a welcome bonus of up to $5000.
GlobalOption: GlobalOption accepts US clients. It uses an in-house trading platform that is similar to that of EZTrader. GlobalOption offers a payout of 68% to 95% (depending on the asset traded and the type of trades). Traders can get back 15% of their investment amount on losing trades.
EmpireOption: EmpireOption accepts US clients. It uses the SpotOption trading platform and offers a mobile platform for iPhones and Android devices. The average return is 65% to 75% for traditional High/Low binary options. OptionBuilder offers higher payouts at 85%, while the risky One Touch options give the highest payouts at 500%.
TraderXP: TraderXP accepts US clients. It uses the SpotOption trading platform. Payout ratio is between 68% to 75%. This broker uses a wide range of reliable payment and withdrawal methods.
OptionTrade: OptionTrade uses the ProTrader platform, which is modeled after another trading broker called HotForex. Payout ratio is 85%. OptionTrade is fully regulated by the Cyprus Securities and Exchange Commission (CySEC). This broker transacts only with reputed banks and financial institutions.
GTOptions: GTOptions accepts US clients. It uses the reliable SpotOption trading platform. Returns range from 70% to 90% depending on the asset type. One Touch options can yield payouts up to 540%. Bonus of 50% to 100% is offered depending on trading account.
Opteck: Opteck offers an easy-to-use web-based trading platform. Payout ratio is 85% to 100%. Opteck is regulated by the Cyprus Securities and Exchange Commission (CySEC). It offers customer support via phone, live chat, and email.
OnlyOption: OnlyOption uses a sophisticated trading platform provided by Markets.com. Payout ratio is up to 85%. One touch options can yield up to 500% of the investment. OnlyOption’s parent company Safecap Investment Ltd is regulated by the Securities and Exchange Commission (CySEC). This trader offers a welcome bonus of up to 100%.
BNRY: BNRY uses the new generation TradeSmarter trading platform that has sophisticated features. This broker offers a maximum return of 81% for High/Low options. You can get a rebate of up to 10% for losing trades. BNRY is a regulated broker under the Cyprus Securities and Exchange Commission (CySEC).
YesOption: YesOption uses the standard Tech Financials trading platform. Average returns for high/low options are 85%. YesOption offers welcome bonuses between 20% to 100% depending on the amount deposited. It provides one on one coaching and a range of training materials.
GrandOption: GrandOption uses the Tech Financials trading platform. Payout ratio is between 75% to 300%. GrandOption is regulated by the Cyprus Securities Exchange Commission (CySEC). The broker provides a range of bonuses and promotional offers.
Tradesmarter: Tradesmarter uses a simple and reliable trading platform that has been emulated by many other brokers. Payout ratio is up to 85% for successful trades and you can get a rebate of 10% for losing trades. Tradesmarter.com is based in Sydney, Australia and its operations are governed by the Australian Securities and Investment Commission (ASIC).
Alpari: Alpari uses the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. There are also MT4 and MT5 trading apps for Android and iOS devices. Payout percentage is between 81%-85%. Alpari offers attractive bonuses, competitive tight spreads, and reliable trading support.
Banc de Binary: Banc de Binary uses the popular SpotOption trading platform. This platform supports mobile trading with Blackberry, iPhone, and Android devices. Payouts are between 72% to 81%. Banc de Binary refunds up to 15% for losing trades. This broker is part of the Banc de Binary Group that is listed on the New York Stock Exchange.
Bloombex: Bloombex accepts US clients. Bloombex uses the intuitive, state-of-the-art SpotOption trading platform. Average returns range between 75% and 85%. Bloombex offers at least 30% bonus for any deposit. You can get a 100% bonus for every investment of $100 to $500.
365Trading: 365Trading uses a trading platform called Pip Invest, which is different from popular platforms used by other brokers. Payout ratio is between 60% to 85%. 365Trading has taken the initiative to register itself under the Cyprus Securities Exchange Commission (CySEC). This broker offers 100% bonus on the first deposit.
BinaryBook: BinaryBook accepts US clients. It uses the latest SpotOption Gen 2 trading platform. Average returns are around 80%. You can earn up to 500% with FX/CFD contracts. BinaryBook offers welcome bonus ranging from 25%-100% depending on the trading account.
Magnum Options: Magnum Options accepts US clients. It uses the popular SpotOption trading platform. Average payout ratio is 85%. Magnum Options offers numerous bonuses as well as rebates for losing trades. All transactions are secured with SSL Technology.
OptionRally: OptionRally uses web-based trading platforms powered by SpotOption. Average return is 78% for winning trades and a refund of 10% is given for losing trades. OptionRally is registered in the British Virgin Islands (BVI) and operates under the regulations of the BVI Financial Services Commission (BVIFSC). This broker offers provides up to 100% bonus as well as exclusive offers.
OptioNow: OptioNow accepts US clients. It uses a 2nd generation SpotOption-powered trading platform. OptioNow offers average returns up to 85%. The riskier One Touch trades pay as high as 450%. OptioNow offers bonuses up to 25% and requires a 30x turnover for you to be able to withdraw the bonus cash.
Optionyard: Optionyard uses a web-based trading platform that is easy to use. The average payout ratio is 85%. Optionyard offers high bonuses, five asset classes for trading, and a wide range of trading tools.
BigOption: BigOption accepts US clients. It uses the latest version of the SpotOption-powered trading platform. BigOption offers payout ratios of up to 85% for normal trading. It is a reliable broker as it uses transparent procedures, a SSL certified platform, and segregated accounts.
SetOption: SetOption accepts US clients. It uses the SpotOption trading platform. Payout ratios range from 80% to 750%. You can get a refund of up to 10% for losing trades. SetOption is based in Switzerland and its services are governed by the Financial Market Authority of Switzerland (FINMA).
EZTrader: EZTrader uses its own in-house trading platform that is easy to use. Average payout ratio is between 80% to 95%. EZTrader is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). It offers bonuses ranging from 30% to 100%.
CTOption: CTOption accepts US clients. It uses a platform supplied by Panda Trading Systems Ltd (Panda TS). Average returns range between 80% to 90% and you can get a rebate of 5% for losing trades. CTOption offers a welcome bonus up to 100%.
IQOption: IQOption has created a trading platform that gives an easy and fun trading experience. The platform supports mobile trading with iOS and Android apps. Returns can go as high as 92%. IQOption is regulated by the Cyprus Securities and Exchange Commission (CySEC).
Stockpair: Stockpair employs a proprietary trading platform that is simple to use. It supports mobile trading with iOS and Android apps. You can get payouts of around 80% for Up/Down binaries, while Pair options can fetch returns as high as 350%. Stockpair is a EU-regulated broker.
24option: 24option uses an innovative trading platform supplied by Tech Financials. You can get a maximum return of 89% for winning trades, and a rebate of up to 15% for losing trades. 24option is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
AnyOption: Anyoption employs a web-based in-house trading platform that can be accessed from anywhere. Average returns are up to 80% for winning trades and you get 15% refund for losing trades. Anyoption currently offers a bonus on first deposit.
24bulls: 24bulls uses a trading platform powered by TradeSmarter. It offers returns up to 85%. This broker is regulated by the Cyprus Securities and Exchange Commission (CySEC). 24bulls offers up to $2500 free bonus for new traders.
99Binary: 99Binary accepts US clients. It uses the HTML5 trading platform. 99Binary offers returns of up to 86% on Standard & 60-Seconds, and up to 350% on One Touch. This broker complies with online security and anti-money laundering regulations.
BMBoption: BMBoption (Benedict Morris) uses the SpotOption trading platform. Average payouts are up to 88%. BMBoption has applied for a license from the Cyprus Securities and Exchange Commission (CySEC). It offers a customized cash bonus with its premium plans.
Finpari: Finpari uses the latest version of the SpotOption trading platform. Average payout ratio is 83%. Finpari offers up to 100% bonus plus first three risk-free trades. It provides customer support through phone, live chat, and email.
KeyOption: KeyOption uses the sophisticated yet easy-to-use Keystone trading platform. It offers returns up to 85%. KeyOption has applied for Cyprus Securities and Exchange Commission (CySEC) regulation. It offers a welcome bonus up to $5,000.
Nordex: Nordex accepts US clients. It uses SpotOption’s newest trading platform. Average payout ratio is 85%. Nordex offers up to 100% deposit bonus. It provides customer support through phone and tickets.
Sycamore Options: Sycamore Options accepts US clients. It uses a trading platform powered by SpotOption. You can earn up to 75% profit on winning trades, and more than 600% return on One Touch trade. Sycamore Options offers a bonus on request. The amount depends on your account size and individual package.
Tradorax: Tradorax accepts US clients. It uses the TechFinancials trading platform. Average returns are about 85%. Tradorax offers welcome bonus from 50% to 200%. It provides customer support through phone, live chat, and email.
WeOption: WeOption accepts US clients. It uses the TradeSmarter trading platform. Maximum return is 91%. WeOption is a relatively new company that has applied for regulatory licenses from the FCA in England and CySEC in Cyprus.
Winoptions: Winoptions uses the SpotOption trading platform which is advanced, yet easy to use. It offers up to 88% return rate, and up to 550% on the One Touch option. Winoptions operates as a brand of Spot Capital Markets Ltd, which is authorized and regulated by the Cyprus Exchange Commission.
IvoryOption: I voryOption accepts US clients. It uses the popular SpotOption trading platform. Average payout ratio is 85%. IvoryOption offers up to 100% deposit bonus. It provides customer support through phone, live chat, and email.
HOW TO CHOOSE THE BEST BROKER
The first step towards a positive trading experience is a selection of a reliable broker. The best broker is the one who has the most competitive features, offers high return rates and supports implementation of different types of trading styles. Among most important factors are also size and liquidity.
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Before You Even Start
Selecting the right broker can be a difficult task for beginners since new traders are mostly not aware of all the important differences between brokers and trading platforms. Each platform offers a bit different set of trading tools, return rates, expiry times, bonus deals etc .
Some brokers offer extensive support for beginners by providing written and video tutorials that introduce all the aspects of binary options trading. In addition, some brokers will also offer live trading webinars.
If you never traded before it is advised to open a free demo account with at least one of the proven and reputable brokers, to get familiar with the basics of binary options trading.
The Difference Between Brokers and Platforms
Different brokers use different trading platforms. There is a difference between a broker and a trading platform.
- A broker is a trading service provider, usually owned and run by a specific business company.
- The trading platform is a software or an interface, which displays the market charts and enables the trader to place trades.
The types of trading which are offered by specific brokers depend on the choice of the broker as well as on the technology of the trading platforms they use.
Most common trading platforms for binary options trading are SpotOption, TechFinancials, TradoLogic, Panda TS and TradeSmarter. Many brokers offer their own independent trading platforms which are in many cases in-line or even better when compared to the platforms offered by external third party providers.
Trading platforms differ by trading types, expiry times, responsiveness, trading tools and other built-in features such as technical analysis charts, market sentiment display, signals or other similar features.
Important Factors for Selecting a Reliable Broker
Types of Binary Options Trading
Broadest selection of different trading features are offered by brokers who use the SoptOption and TechFinancials platform. Depending on the broker selection of features they want to use, the platforms themselves enable the following types of trading: Short Term (30sec, 60sec, 120sec, 180sec, 5min), Regular Call & Put Options (with 5, 10, 15, 20, 25, 30, . etc expiry times, up to end of day expiry time), Long Term (with expiry times at end of day or at specific date, end of week, end of month, etc), Touch Options, Boundary or Range Options, Above/Below Options, Option Builder, Ladder, Pairs or Pair Stocks, and lately some brokers are also introducing classic FX trading possibilities. When looking into trading options it is also very important to take a look at the expiry times offered for specific trading options.
When selecting a broker it is always good to pay attention to have flexible expiry times available. In addition to 60 seconds trades, offered by most brokers, it is very good to have the possibility to select 2 minutes and 5 minutes expiry times as well. For the longer expiry times it is always good if the broker offers the option to select as many different expiry options as possible. The expiry times and general list of trading options available will usually differ, based on the trading platform each broker offers. For example, the brokers who utilize the TechFinancials trading platform offer the best flexibility in the expiry times for regular call and put options and a wide selection of trading possibilities. Example of two such brokers are 24option and Boss Capital. These brokers will give you the possibility to implement many different trading strategies and systems, because all their trading options are very flexible.
Different binary options brokers offer different return rates on investments. The difference for similar options can be even up to 10%, which acts as an decisive factor in making profit or loss with your trading. As a general rule it is always good to choose a broker who offers high return rates, however this is not a single or most important factor. If you don’t have the flexibility with previously described expiry times, you might find it difficult to implement your own profitable trading systems and even the high return can rates will not compensate for the lack of expiry times selection. Keep in mind that the return rates on short term trades are always a bit lower as return rates on regular options (with expiry longer than 5 minutes). A good return rate for short term trades (60 sec to 5 minutes) are anywhere above 72% and a good return rates on regular options are anywhere around 80%. Brokers who offer ‘touch’ or ‘high yield touch’ options or ‘ladder trading’ for example, will give you the possibility for much higher return rates on these trades, ranging from 250%, even up to 500% or higher. But you have to be aware that such trades can be placed only in specific market conditions and quite some experience is needed to recognize the best situations where to place such trades.
All brokers tend to offer different bonus deals. For example, if you deposit a $250 the broker will match your deposit amount and give you up to 100% bonus, so you will have $500 on your trading account available to start trading. When dealing with bonus offers you have to be aware that all bonuses come with specific conditions. Usually the condition is that you have to trade a certain volume worth of trades before you can withdraw your profits. For example, if you take a 100% bonus deal, the turnover can be even up to 40 times the amount of bonus. So in case you invested $250 it would mean that you have to make $10.000 worth of trades (win or loss) before you can withdraw your profits. Bonuses are always welcome, but you if you decide for a bonus make sure you are aware of the conditions which are tied to specific offer. Different brokers will offer different bonus conditions. However, to be able to freely withdraw your profits at any time, signing-up for a bonus deal is not advised for a first time trader.
There are two types of brokers – regulated and unregulated. Main difference is that regulated brokers will not accept traders from United States and unregulated brokers usually accept USA traders as well. Among the regulated brokers a large number of them is registered in Cyprus because of favorable taxing policy. All regulated brokers who are based in Cyprus are regulated by the national securities commission CySec. CySec offers additional security for the traders, since their regulatory requirements are quite strict and oriented towards protecting the traders investment against any fraudulent activity. Additionally, brokers can be regulated in other countries by other country specific commissions who handle Forex, CFD, commodities and binary options trading platforms. Opening an account with regulated broker will give the trader additional security. However, the regulation limits the brokers from accepting the traders from USA. Many brokers choose not to get regulates, simply because they wanted to continue offering their services to USA traders. In these cases it does not mean that, if the broker is not regulated, it is not a good choice. Some unregulated brokers still hold a good reputation among their traders and there are no complications with trading or payouts on their platforms. However, the traders from USA are limited to selection of unregulated brokers only, if they want to engage in binary options trading.
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List of the 11 Best Binary Options Brokers – Review 2020
The choice of a good Broker is undeniably one of the hardest steps to successfully trade as a beginner. My Binary Options Broker list and comparison can be very helpful here because the selection of brokers on the internet is quite large and therefore the chance to find a good broker. Find your suitable broker in a few moments in this honest review.
|Broker:||Review:||Regulation:||Min. Deposit:||Yield:||Advantages:||Open Account:|
|1. IQ Option||(5 / 5)
|CySEC (EU)||10$||up to 100%+|
Huge range of assets
High Yield 92%
High Yield 87%
High Yield 95%
Trade with cents
Huge range of assets
Binary Options is a financial instrument to trade worldwide assets with the possibility of a high return on investment. It is like betting on rising or falling markets. There are only 2 options, that is why it is called “binary”. You can win a high return of 75 – 95% in a selected time horizon or you lose the amount of your investment. It is so popular because it is a way to trade the markets very fast (5 minutes or less) and easy. I have to mention here you can trade it longterm too.
For more information about the financial product and how it works read the article: “How are Binary Options are working?”
The criteria of the Binary Option Broker Review 2020
If you looking for a good broker, you should following the next steps when you check the company. Sometimes traders get scammed by a bad and criminal broker. With this review and comparison, we try to prevent it. Furthermore, Binary Options are very risky. You only should invest money, which you can afford to lose. You can check the following criteria for finding the best company.
Criteria for a good and reliable Binary Options Broker:
- The official physical address of the broker
- Regulation or license
- Free Demo Account
- Experience in the markets
- Good support and service
- High asset profit and fast execution
- User-friendly trading platform
- A platform for mobile trading
Reliability of a broker and safety for traders
It is important to look at how long the broker has been on the market. I easy checked it on the homepage from the financial companies. A good broker provides you with all the information which you want to know. Some companies got an international regulation or license. Also, this is good for reliability. In addition to that, I checked the address of the brokers in this review. As a trader, you want to see clearly an official address of the company. At latest a trader should trust a broker. If you are not sure, just invest a less amount of money first and check the platform by yourself.
Official regulation and license are very important
High payout and asset return of investment for Binary Options
One of the most important point to consider is the asset profit. The average of the payout in this review is 75-95% for each Binary Options trade. There are differences between the brokers. Every trader wants to make a high profit in trading. If one broker got less asset profit like – 5%, this can be a huge restriction to you possible profits.
Moreover, every time the payout depends on the traded asset. Normally the broker provides the highest payout on the most traded asset. In addition, the payout can dependent on the expiration time too.
Which broker provides the highest profit?
Free and unlimited Demo Accounts are necessary for every trader
The broker should provide you with a free demo account. This is an account with virtual money. It is made to practice the financial product and to test the trading platform. You can trade Binary Options without any risk with this virtual money. It is completely free to use. Also, traders can develop new strategies or improve their trading skills. Advanced traders or beginners try to trade new assets for the best success with this account.
Open your free demo account now.
On the other hand, sometimes the broker gives its traders trading tips for analysis or strategies. The demo account is perfect for practicing that new knowledge. Trading is very complex and often it is not easy to find the right way. This is the main reason for using a demo account. Most traders gain experience first before they invest real money. With own experience, it is possible to get a high profit with trading in the right direction.
How to open your real account
The opening of a real account should be as easy as the opening of a demo account. In most cases, it is very easy and fast. The broker requires some additional documents and data of the trader to proof their personality. Upload a picture/copy of your passport. Sometimes they require a utility bill. The broker will check the documents and verify your account in less than 24 hours. Important information: The broker only withdraws full verified accounts. (Not every broker requires this documents)
What do you need:
- Data: Full name, address, birthday, phone number
- Picture/copy of your passport
- Sometimes picture/copy of a utility bill
Review of the Binary Options Brokers support and Service for traders
As a trader, you need good support and service. Most brokers are showing experience and knowledge in Binary Options. The Binary Options Brokers in this review give you the best and fastest support. According to that, they give traders sometimes a good education with webinars, videos or strategies. For beginners, it is important to learn theoretically about Binary Options. It is a risky financial product.
You can learn the basics and advanced trading knowledge in webinars with experts. The most brokers first show you the basics like functions of candlesticks and the use of technical indicators. Usually, a trading platform offers more than 30 different indicators. Sometimes it is hard to find a good working strategy with them. In addition, they give you some advanced knowledge and information to rule the markets. Most brokers offer you a better education if your deposit is higher (see account types).
Another option of service is account types. For big traders with high deposits and high trading volume, some brokers offer different account types. As a trader, you can get great advantages. They offer you higher yields, better support, bonus or a cashback program. This is a way to get more profit in trading. For example, the broker offers you a higher asset profit of 5%. That can be very helpful.
The companies in this review offer you:
- Chat support
- Telephone support
- Email support
- Education centers
- Webinars, videos, strategies
- Account types
- Account managers
Diversity of assets and test of the Binary Options trading platform
I tested the trading platforms of the Binary Options Broker Review. In conclusion, they are very good and innovative. They give you a very good reaction rate which is important for short-term trading. You can use them for your computer or as an app for your mobile phone. In addition to that, they are very flexible and customizable. Use different indicators for the best strategies. As you see in the picture below I am using Bollinger Bands and the RSI. They are very popular.
First of all the trading dashboard is the most important point of the trading platform. You should be able to switch very fast between different expiry times and create new trades. Some strategies are designed to have multiple trades open at the same time. The brokers in my review provide you the fastest execution time. Secondly social trading very popular. In some trading platforms, you can copy the best traders of the broker and make an automatic profit. They show you transparently what they are trading and you can start copying them.
Another important point is the flexibility of the platform. An app should be available for mobile trading. On most platforms, you can customize the chart very easy. Thanks to the digitization, platforms are getting better and the brokers always try to improve them. Use free indicators and technical tools for your analysis. Moreover, you can use the newsfeed to trade exactly high volatility. Market news occurs every day – Why not use them to make money?
Facts of the Broker Review:
- Fast execution for your trades
- Use indicators and more
- Apps for mobile phone
- More than 50 different assets
On the most trading platforms, you can trade Binary Options with forex, stocks, cryptos, and commodities. There is a big diversity of assets for you. The yields depend on the category of the asset. More often than not the most traded asset gives you the highest yield. You can easily see that on the platform.
Weekend Trading (OTC) and Cryptocurrencies (Bitcoin and more)
Each broker in this list provides the service to trade on the weekend. The platforms are open 24/7. Weekend trading is allowed and advocated. On the weekend you can trade Cryptocurrencies like Bitcoin, Ethereum, Ripple and Forex OTC charts. Cryptocurrencies are traded decentralized and the stock market is open 24/7 for them.
Especially attention should be paid to the OTC Forex charts. Normally the stock exchanges are closed on the weekend but the international internal bank market is working. The volatility is much less than in the normal working days Monday – Friday.
The first steps for your Binary Options success:
- Learn the Binary Options basics. Information for trading Binary is available at the broker platform or the internet. For questions, there are certain forums available.
- Develop a successful strategy. Most brokers will help you to find a way to trade successfully.
- Use the Demo account. It is an account with virtual money. So you trade without risk the markets.
You should ask yourself these questions:
- What do I want to achieve with the trading of Binary Options?
- How much I want to invest?
- Where, on which market I want to trade?
- How do I react to losses?
- What are the chances of winning?
Deposit and withdrawal by a Binary Options Broker
Nowadays the deposit is easy like the withdrawal. Most brokers only need a small amount of money to open your real account and give you access to the market. Capitalize your account in few seconds with a credit card, bank wire, cryptocurrencies or other e-wallets. Today it is very simple. The withdrawal systems are working very good too. Sometimes it is fully automatic. Most companies payout in less than 24 hours. In addition in a lot of cases, there are not any fees for you. Another important fact is brokers only withdrawal verified accounts. So get your account full verified with the right documents as mentioned before.
Bonus Programs and conditions for traders
Bonuses are very popular in the section of Binary Options Brokers. Most companies offer a deposit or a no-deposit bonus. There are a huge diversity of promotions for traders. Mostly the bonus depends on the deposit amount or you can choose it manually. For example, some brokers offer a bonus of more than 200%.
It is a good way to top up your trading account balance and earn more money. You can trade with more risk and grow faster your account, but you should not forget the bonus conditions. Every time there are requirements for the bonus. For example, you do a deposit of 5000$ to your broker and trade with sensible money management of 1% of the account balance per trade. That means you invest 50$. Now you activate a bonus of 100% and additionally you get extra 5000$ and your account balance is 10.000$ now. At the moment you can trade with sensible money management with an amount of 100$ per trade. That sounds good and you grow your account faster as without bonus.
The deposit bonus is a good way to increase your account balance and to trader with more risk.
As mentioned before there are conditions of the bonus. Simply there is the requirement of turnover of the bonus amount. Sometimes you have to do a turnover of x20 and sometimes you have to do a turnover x50. It is important to read the bonus requirements. If you got any questions, you can ask the support. In most cases, you will see the requirements transparent on the platform.
- Deposit bonus: Get additional money to your account balance.
- No deposit bonus: You will get a small amount of money for free, but you have to do a huge turnover before you can payout the profit.
Welcome Bonus for beginners
The no deposit bonus is named welcome bonus. There are different ways to get a welcome bonus. One way is to win a free demo contest (read more below) without any risk. You compete to other traders on the platform. The rules are easy to understand: Just try to get the highest account balance versus your competitors. If you win, the broker pays a high prize. It is like a welcome bonus because you do not invest real money.
On the other hand, as mentioned before the no deposit bonus is like a welcome bonus. There are a few brokers who offer this bonus. Just create your real account and activate the welcome bonus. The company gifts you any amount of money to your account balance but you can not withdraw the money. You have to do a high turnover of the welcome bonus like 30x or 40x. Recommend broker for a welcome bonus is Pocket Option.
Binary Options Tournaments
In addition, most brokers offer tournaments or demo contests for beginners and advanced traders. You must pay a fee to participate in a contest with a huge prize fund. The rules are very simple: You get a separated demo account where you have to get the biggest balance as possible. You will compete against other traders of the broker. Sometimes there is a prize fund of 100.000$ or more. Furthermore, it is not easy to win the contest because there are a lot of competitors.
The demo contest is a tournament without participation fee. That meant that the prize fund is much smaller than the paid tournaments. But it is a good way to earn money with a small amount of money (participation fee). If you are a successful trader, you can easily win these contests.
Countries for traders
Binary Options are not allowed in every country of the world. In addition, some countries forbid trades to use foreign brokers. Most brokers accept international traders, but there are restrictions for forbidden countries. You can not generalize it because the broker decides which customer he accepts.
Nowadays Binary Options become more and more popular for traders. It is a simple and efficient financial product. It is possible to generate a high payout in a short time horizon. Asian and Africa are growing very fast and people like the function of trading. The brokers in this review try to improve their service in this region of the world because the demand is very high. They improve their customer support with different languages and other services.
The fastest growing countries:
Are Binary Options legal?
Sometimes there are some restrictions to this financial product that depends on a particular country. Personally, I only know one area where Binary Options are forbidden. It is the European Union but some offshore and international brokers accept EU traders. It is like gambling on rising or falling markets and easy to understand. The EU tries to protect its citizens because there are a lot of scam brokers. To prevent a scam, use the best brokers of this review.
Find the best Binary Options Broker 2020 – Conclusion of my review
On this site, I showed you the idea of finding a reliable Binary Options Broker. In the list, you see the best companies in 2020. For successful trading a good broker is necessary. The company should allow you your own strategy of trading and give you good support and service. On most platforms, you can learn via education videos how Binary Options are working.
Also important is the execution of your trades. It should be very fast and with no delay. Usually, every broker does that. Nowadays as a trader, you can start with a small amount of money to trade Binary Options (10$ or less). It is possible to turn it in a high amount with the right strategy. In conclusion on this site, you can find the best and proofed Binay Options Brokers 2020.
Read more about them in my reviews:
I recommend this article if you can not choose between the most known brokers: “IQ Option vs. Olymp Trade vs. Binomo”
How To Choose Your Binary Option Broker
Do you want to become a binary options trader? If yes, then the binary options broker that will choose will determine whether you will get the success that you are looking for or not. The popularly of binary options trading has increased tremendously over the past decade.
This is because binary options trading is highly profitable and straightforward. The worst thing that you can do as a trader is choosing a broker based on guesswork and emotions. We cannot dispute the fact that there are many legit brokers out there. We also cannot ignore the fact that there are many shady brokers.
You have probably heard stories of traders who have lost huge amount of money from unscrupulous brokers. To avoid falling into the trap of this crooked brokers, you need to do your research well.
Below are 10 tips on How to Choose Your Binary Option Broker.
1. Check if the broker regulated
Most traders only check if the broker is licensed. Although being licensed is a good move, the fact this remains that it does not prevent brokers from being crooked. There are many scam brokers who are licensed. In addition to checking if the broker is licensed, you need to go a step further and check if the brokerage firm is regulated by a relevant regulatory body.
If a binary options broker is regulated, then it means that they have proven to follow a certain code of ethics. As a result, such brokers are more reliable and trustworthy.
2. Ensure that you read the terms and conditions of the broker
Most traders don’t pay attention to the terms and conditions because of obvious reasons. They are long and boring to read. However, ignoring to read terms and conditions is a huge mistake. Most crooked binary options brokers know that very few traders read terms and conditions.
As a result, they usually take advantage of that to include certain things that are not friendly to traders. You should, therefore, read the terms and conditions section before you make your final decision.
3. Consider the broker’s experience
For how many years has the brokerage firm been in this business? The general rule of thumb is that more experienced brokers are more reliable and trustworthy. If a binary options broker has managed to render their services for a long period of time and has a huge customer base, then it means that most traders are happy and satisfied with their services.
Choosing a broker who is new in the industry is a big gamble. Chances are that you may end up choosing a broker who will disappear with your hard earned money. Experts recommend that traders should choose a broker who has more than 5 years’ experience in this industry.
4. Consider if the broker offers trading tools
Genuine and reputable brokers care about the welfare of their clients. Their main aim is not just to make profits at the expense of the trader. Instead, they provide important trading tools to also help traders make wise decisions when trading. Following your instincts can sometimes lead to you making costly mistakes.
The only sure way to increase your chances of making profits from binary options trading is by using trading tools such as indices, live stocks currency data among many others. This tools will help you analyze the market and make an informed decision when trading. Prioritize brokers who provide trading tools to traders.
5. Consider if the trader offers demo accounts
Demo accounts are very important, especially for novice traders. A demo account gives you a chance to practice and gain the much-needed experience without putting your money on the line. If you are new to binary options trading, then we recommend that you choose a broker who offers a demo account to practice before you get into the actual trading.
6. Check deposit and withdrawal options
Most binary options brokers have set deposit or withdrawal limits. This means that you cannot deposit or withdraw an amount that is below the set limit. Before you make your final decision, check to see if the broker has set deposit and withdrawal limit.
If yes, then check to see if they are manageable. If not, then you should search a brokerage firm that has a limit that you can comfortably manage. The deposit and withdrawal procedure should also be simple and straightforward.
7. Multiple asset investing
Assets offered by binary options brokers varies. There are some who only offer 2 assets while others offer up to 5 assets. We recommend that you choose a broker who offers more assets such as currency pairs, stocks, and commodities to traders. This will increase your profit margin.
8. Consider if the broker offers support
It is prudent to choose a binary options broker who will always be there for you when you need them. You should, therefore, choose a broker that offers customer support to its clients. Customer support not only shows that the brokerage firm cares about its clients but it also demonstrates their professionalism.
Choose a broker that provides multiple contact options including email, Skype, live chat, phone among many others. This will allow you to contact the support team using a means that you are comfortable with. The level of support also differs between brokers. Make sure that you are comfortable with the level of support that the broker offers.
9. Check the broker’s user interface
Before you make your final decision, take your time and analyze the trading platform that the broker has provided. Check if the trading platform is user-friendly and easy to use. Only choose a broker whose trading platform is efficient but easy to use. This will help you save time and effort that you would otherwise have used to learn how the platform works.
10. Check return and pay-outs
All binary options traders want to make more money from their investment. Choosing a broker who offers higher payouts and returns means that you will make even more money. In most cases, returns usually range from 60%-80%. Although there are many other important factors that make a good broker, finding a good broker who also offers higher return is indeed an added advantage.
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