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Finding a reliable broker to trade binary options can be challenging. Therefore, you must always be cautious when looking for an online broker. Otherwise, you could accidentally put yourself in a dangerous situation on a sketchy website.
To make things easier on yourself, we’ve identified the top ten binary options brokers you can choose from. Please continue reading to learn about these brokers and why they are great candidates for you to participate in binary trading.
What is Binary Trading?
Do you consider yourself an all-or-nothing kind of person? If so, binary options trading might be a great choice for you. When you participate in binary trading, you can receive funds if the option expires while in the money zone. However, if the binary expires outside the money zone, the investors take a loss instead.
Your binary trading results depend on the expiration date and where the price sets during that time. Therefore, you cannot withdraw funds whenever you want and no longer participate in this trade when the expiration date appears.
Although binary options trade is legal in the United States, it’s not extremely common among US investors. Most of these binary trading options happen in countries outside of the United States.
Best Binary Options Brokers
Now that you understand the basics of binary trade options, it’s time to discuss the best binary options brokers. These trade options can open a new window of exploration into your investments and create new ways to make money.
1. Pocket Option
Pocket Option is popular among people who engage in binary options trading because it’s one of the most trustworthy websites available. In addition, there are plenty of regulation protocols involved in this website, so people using the interface don’t need to worry about scams.
- Excellent reputation
- Appeals to beginners and experienced traders
- A plethora of trading options
- Regulated broker
- Easy to use
When the IFMRRC regulates a fiscal trade website, people using the website can trust that their information is secure. Due to the security protocols, we rank Pocket Options as one of the best binary option trade platforms available.
The interface of this binary options broker is also extremely user-friendly. You can contact anybody on the website through the customer support team when you encounter problems.
If you’re looking for a United States-based binary options broker, look no further than Nadex. This is the first binary options broker to appear in the United States in its maintained popularity since its inception. Sometimes, people feel more confident entrusting their money and investments with United States-owned and operated companies.
- First United States-based binary options broker
- Calculates fees based on contracts
- Easy-to-understand fees
- Great user interface
If you’re looking for any of the above features in your search for a binary options broker, Nadex is the right choice.
3. Expert Option
Learning about and participating in binary trade options as a beginner can be overwhelming. Some people would benefit from choosing an option that caters to beginning traders to make things easier. If you’re new to binary trading, Expert Option could be your best bet for a binary options broker.
- Affordable minimum deposit
- Mobile and PC trade options
- Beginner friendly
The main downside you should be aware of before choosing Expert Option is that verifying your account and receiving your funds can take a while. There are also country restrictions, so many people worldwide cannot use this binary options broker.
4. IQ Option
Another safe option that people use as an alternative to Pocket Option is IQ Option. Multiple factors set IQ Option ahead of competing binary options brokers.
- Excellent user interface
- the best trading tools in the industry
- excellent customer service
- Trustworthy reputation
the reputation of your binary options broker is a huge factor in picking which broker You should go through. People must choose brokers that they trust with their money before making trades.
5. Olymp Trade
Another affordable binary options broker you can select is Olymp Trade. When you’re new to binary options trading, the entry fee can mean a lot for whether or not a website works for you. You don’t want to break the bank on your investments.
- Multiple customer support options that are 24/7
- Low minimum deposit
- Fees based on contracts
Unfortunately, this option is unavailable for you if you live in the United States. This online broker has plenty of country restrictions, so you’ll need to see if they’re available in your area. However, this binary options broker is popular in compatible regions.
If you’re interested in a broker that’s been around it since the creation of binary trade options, look no further than binary.com. This is our longest-running binary trade option that you can select, so you know that they have a long history in the race.
- Regulated broker
- Years of experience
The main thing people complain about regarding this broker is that they don’t have the most user-friendly interface. Nowadays, people prioritize the ability to trade binary options online or from a PC. However, both platforms are difficult to use through this broker.
People have also expressed dissatisfaction with the amount of time it takes to receive their funds after a binary options trade. If you’re looking for a modern website with responsive customer support, you might not like binary.com.
With the popularity of online brokerages, it’s no surprise that people value quick access to their money over other assets of binary trade options. Fortunately, if you’re looking for a quick way to withdraw your income, you can choose this broker to manage your binary trades.
- Quick withdrawals
- Easy-to-use interface
- Easy registration
However, this online brokerage has its downfalls. For example, if you’re looking for a licensed and regulated binary options broker, you’ll need to look elsewhere. Another massive downside people dislike about this binary options broker is that the minimum deposit is extremely high compared to Every other option on our list.
People with experience participating in binary options trades might enjoy this broker, but people new to this trade option will struggle. There’s not much information available on this website for people new to participating in this type of trading. Additionally, the high minimum deposit makes beginners look elsewhere.
Binomo It’s a great binary options broker for people looking to up their binary trading game. If you have experience with this type of trading and you’re looking for a larger amount of assets, then choosing this brokerage could be an excellent financial decision.
- A vast array of binary trade assets
- Easy-to-view analytics
However, despite these merits, there are plenty of things people dislike about this binary options broker. For instance, one of the main complaints at this brokerage is that it’s difficult to verify and receive their funds. This can be frustrating if you’re looking to receive income promptly.
We also do not recommend this binary options trade platform for people new to binary trading. This platform doesn’t have an easy-to-use interface which can cause great frustration among people who aren’t used to looking at this data. This can also create a frustrating experience for those who don’t work with technology often.
This is a versatile platform that people with experience in binary trading or new to this option can enjoy. When platforms and brokerages are easy to understand for beginners and experts in the industry, it’s usually a good sign. You can expect the following benefits when you choose RaceOption as your next binary options broker.
- Multiple assets to choose from
- Quick withdrawal process
- Great user interface
- Multiple account options
You can choose the account option that works best in your trading situation. For example, if you want to save money and play around with binary options, you can choose the basic plan and upgrade anytime.
However, some beginners of binary options trading will lose interest when they see a high minimum withdrawal. So, if you don’t make at least $50 through this brokerage, your money will be stuck in the account.
IQCent is the final option we’ll discuss on our binary options brokers list. However, just because it’s the final option to discuss doesn’t mean it’s bad. There are plenty of benefits when it comes to this brokerage that might appeal to your financial situation.
- Large selection of trade options
- 24-hour customer support
- Multiple language translation tools
- The economic calendar for easy tracking
This binary options broker is a great choice for new and experienced traders. This brokerage makes trading easy to understand for beginners and easy to work with for experienced binary traders. In addition, many look for a great user interface when trading binary options through a brokerage.
Any of our top ten options on this list will assist you with your binary options brokerage needs. However, our number one recommendation is Pocket Option, thanks to its trustworthy reputation, regulation methods, and user-friendly interface. With this selection, you can easily trade binary options through your smartphone or on a PC for a low minimum deposit.