The Complete List of Recommended Binary Options Brokers

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Sign-up Bonus!

  • Binomo
    Binomo

    Trustful Broker!

Contents

Best Binary Options Brokers 2020

Over the last several years, the number of binary options brokers has changed a lot. Binary Options so a boom in 2020 – 2020 and almost vanished in 2020. Many binary brokers have lost market shares as several large jurisdictions such as EU and Canada have banned retail traders from the binary trading instrument. There are still some brokers out there that are behind the times on our blacklisted brokers list, and these should definitely be avoided. It’s a far better use of your time to pick one of the top binary options brokers in the market.

Binary Options Brokers List

It’s important that you are aware of where binary options, brokers, and the state of trading in general are right now, and that you have a good idea where things will be going in the near future.

One of the biggest features that has changed over the years, are the number of binary options robots and mobile trading applications that are available. Let’s take a quick look at these things so that you can help position yourself to get the best results possible over the coming months.

HOW TO: Find the Top Binary Options Brokers?

You want to choose a top binary options broker. This is the best way to help yourself succeed. Even a great trader can lose money if they don’t have a great site and top platform on their side.

That extra couple of percentage points when it comes to rates of return, the increased freedom in asset choice, and the specialised exotic options all contribute toward giving you a better chance of making money.

If you trade $100,000 per year, and can increase your profit rate by 2 percent, you’ve suddenly made an extra $2,000 per year*–just by picking a better site.

6 Things to Look for When Choosing the Best Binary Option Brokers

If you’re looking for a new binary options broker, you probably have questions about which one is the best. This is a valid question. Having the best broker on your side drastically reduces the amount of risk that you will have, and it ensures that your money is doing what you intend it to do.

A good broker won’t necessarily make you a profitable trader, but it will go a long way toward ensuring that you aren’t losing money needlessly. All traders have different needs, so it’s important that when you are looking for a new broker, you don’t just choose the one that everyone else says is great. You really need to look at your individual situation.

Each person will have different needs when it comes to a broker. Before you begin your search, decide what you want to trade, the timeframes over which you’ll trade it, and your basic amounts. Before deciding the amounts you should take a look at our articles series covering the binary options basics.

Next, find a place that caters to traders in your area, meets all of your requirements, and has high rates of return. This will give you a basic framework for starting your search. Avoid sites that are gimmicky or have unfavourable conditions for their traders. These might not be outright scams, but they are certainly not there to help you make money. There’s a difference between running their business and swindling you out of your cash. Make sure you read about our blacklisted brokers.

With that said, here is our list of the top things that you should look for when choosing the best binary options broker for you.

1: Legality

Is the broker that you are looking at legally allowed to operate where you live? Because of the internet, you can access websites from all around the world, but that doesn’t mean that you can just choose to work with any broker you want.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Sign-up Bonus!

  • Binomo
    Binomo

    Trustful Broker!

Before you decide which broker is best, make sure that they are allowed to accept traders from your country, and that your country or region of residence allows you to trade at their site.

For example, traders in the United States cannot legally use a broker regulated by the Cyprus Securities and Exchange Commission (CySEC), but need to stick with NADEX since they are regulated within the U.S.

24option is one the few brokers that has constantly stayed ahead of regulations to avoid fines and to keep their integrity intact. You can read more about them in our 24option review. 24option was originally operating in US, Canada and EU but was quick to stop this when advised to do so. Other binary brokers that launched at a later date took a different approach. In our OlympTrade review you will notice they never accepted customers in USA or EU simply because they didn’t believe it was worth the risk nor beneficial to obtain the licenses required in these jurisdictions.

2: Reputation

Some brokers have better reputations than others. You don’t want to deposit money with a broker that has a reputation for poor quality financial transactions, for example.

Even if you never experience a problem on this front, working with a broker that drags its feet when it comes to processing withdrawal requests is a dangerous thing to do. Also, not all brokers uphold the high standards that you deserve from your binary broker.

You want a broker that is fully regulated by a high-quality regulatory body. For example, the Australia Securities and Investment Commission (ASIC) in Australia, CySEC in Europe, the Financial Sector Conduct Authority (FSCA) in South Africa or the Commodity Futures Trading Commission (CFTC) in the United States are all considered to be the best regulatory bodies in their respective regions.

An unregulated broker might have pure intentions, but there is a much higher risk to your cash when you work with one.

3: Ease of Use

The broker that you decide to use should be easy to navigate. They should have a platform that you can use with ease and not make careless mistakes.

If you can, you should definitely try out the free demo account that your binary options broker offers. If you’ve never used a site before, there’s a chance that user error might come into play, and you could make a mistake. Testing out the site in a risk free setting with a no risk demo account using fake money alleviates the chances of this happening.

Also, all transactions with the site should fit your needs. We hinted at the need for smooth financial transactions earlier, but this is a must. Your broker should make it easy to put money in and get money out of your trading account.

The broker does need to follow the law when it comes to financial transactions, and you should not expect them to bend the rules for you, so knowing the regulations and what you need to do on your end to make transactions smoother will be an easy way to make this experience even more pleasant.

4: Returns

Some brokers return more than others. Even the difference of a few percentage points here or there can make a big difference over the course of time.

Let’s say Broker A offers 78 percent on the asset you like to trade most, while Broker B offers 80 percent. With all other things being equal, choosing the larger number can mean thousands of extra dollars in profits.

If you risk $50 per trade and make 1,000 trades in a year (less than 3 per day), you are potentially gaining $1,000 extra in profits over the course of time by going with the better return. Most traders make many more trades than this per year.

5: Educational Material

When your broker offers you free resources to help you become a better trader, you know that they are more likely to be on your side. These come in a lot of different forms: free eBooks, webinars, strategy videos, economic calendars, blogs, and news feeds are some of the more popular resources.

All of these things are available for free around the web, but having a broker supply them for you can make your life a lot easier so that you don’t need to search around and find the tools you need to improve.

Lucky for you, Binary Options University was created for this exact purpose. The website has one of the best binary options education sections you will find, full of all the guides to touch no touch binary options like you will need to become a successful trader.

6: Bonuses

Some brokers offer you a bonus when you make your first deposit. Although this can be helpful, it’s really the last thing that you should consider when choosing your broker. But why? Isn’t free money a good thing?

Yes, free money is nice, but that’s not quite what a bonus is. In fact, brokers want you to think of a bonus as free money to you because it is good business for them if you do so. Why wouldn’t you want an extra $500? However, because most bonuses are so hard to unlock, most traders never actually get to see their bonus cash.

Brokers require you to trade at least 30 times the bonus amount if you want to see your bonus returned to you. So, if you received a $500 bonus, you would need to trade $15,000 worth of trades before you could unlock your bonus. Some brokers even put a time requirement on this, after which the bonus cash disappears. A new trader without experience is very unlikely to receive this bonus because they will lose their money long before they ever reach that threshold.

A bonus can be nice, but make sure that it is not a priority when choosing your broker. Otherwise, you are just falling for a marketing gimmick. Be sure to check each of the steps listed above before you think about getting a bonus. We generally don’t suggest trading with bonuses and instead you should take advantage of our free online binary option trading course.

HOW TO: Be a Better Binary Options Trader?

Start with the tools you have readily available. Some places have signals services, some have demo trading, and the vast majority of them have educational resources. Some even have trading advisors and managers to help you get your trading to the next level.

If you’re offered bonuses and the terms are favourable, take advantage of them when you can. Getting a little extra help, either by increasing your knowledge, getting extra money, or just having a better rate of return will all help you keep increasing the size of your account.

There’s no quick and lasting way to get rich doing this, but small steps consistently taken in the right direction will eventually get you the results you want.

It is always important to note here though, that all trading comes with some degree of risk and in reality, no guarantees of profit can be made. You can also become a more likely winning trader if you apply binary trading strategies instead of randomly pushing buttons. You will need to learn some basics expressions such as the meaning of itm and otm.

Below, we’ve listed 3 of the most highly respected brokers and outlined their advantages, disadvantages and who they will benefit the most.

Best Binary Options Brokers with Low Minimum Deposit

IQ Option is considered one of the best binary options, forex and crypto brokers out there right now. They are a regulated, award-winning company with a variety of exciting features to offer clients.

If you want to create an account with IQ Option, you can do so with as little as $10 or even open a free IQ Option demo account. Their minimum trade amount is just $1, but if you want, you can fund your account with more and trade in larger increments.

They offer over 500 different assets in options, stocks, forex, crypto, indices, commodities and ETFs and a variety of different ways to trade them.

Be sure to get a strong feel of the IQ Option platform to help avoid potential trading mistakes. This makes sense whether you use the binary options demo or not. If you have any questions, you can always contact their customer service department that’s available 24/7. As you grow as a trader you will realize how well the platform performs and understand why IQ Option is considered the best binary options broker. Also, by learning all the right ways to deposit and withdrawal money will help when it comes down to it. Getting all the important documents to them early will help make it a lot easier when it comes to taking money out.

IQ Option does not accept traders from the United States, Canada, Australia or Japan.

They are regulated by one of Europe’s largest regulatory financial bodies, the Cyprus Securities and Exchange Commission (CySEC). If you are located in or outside the EU, you should have no problems creating an account with this broker if that’s what you determine is best for your style of trade.

For more details read our full IQoption review.

NADEX: The Perfect Choice for US Traders

NADEX is one of the only CFTC regulated exchanges offering binary options. This broker is based out of Chicago, Illinois, and they are one of the standard bearers in the world of binary options trading. Founded in 2004, and then rebranded in 2009 under their current name, NADEX is the go-to choice for binary traders based in the U.S.

In order to fund your NADEX account, you will need to make a minimum deposit of at least $250. You can use a debit card, bank transfer, paper check, or wire transfer to make your deposit. Depending on the trade you want to make and the profit levels that you are looking for, you can make trades for as little as $1 in some instances. Withdrawals are processed in the same way, except they do not currently allow debit card withdrawals.

NADEX offers free and unlimited use of their demo account. Most brokers limit the time that you are allowed to demo trade to about 3 days, but NADEX has a much stronger focus on the success of their traders. They want traders to succeed because when their traders succeed, they are also successful.

Are you interested in mobile trading? Read our NADEX Review. They offer for both iPhones and Android devices. This is beneficial to some traders, but not to all.

If you want to be a successful binary options trader, you need to be able to have a strong ability to discern good decisions from bad ones, and oftentimes, the ability to make more trades isn’t necessarily a good thing. NADEX offers their clients tools geared toward helping them make money, but you will need to make your own decisions about what is best for you and address the risk that is associated with trading on your own.

Binary.com: The Top Binary Options Broker

Binary.com is the best binary options broker in the market with a minimum deposit of only $5. This is the lowest minimum deposit we could find on one of our most recommended trading companies.

Besides binary options trading, Binary.com also offers over 100 different tradable assets in forex, crypto, CFDs, Metals and look-backs. The company also offers a free demo account where you can practice trading before investing any real money.

Binary.com is a regulated and award-winning company that we would fully recommend to all traders. Keep in mind that binary options are prohibited in the EU, so you will not be able to trade binary options with Binary.com if you are in the European Economic Area.

Binary.com does not accept U.S traders.

The binary options broker offers a variety of platforms you can trade in for both PC/laptop and mobile devices, including the infamous MetaTrader 5 (MT5). You can trade regular binary options allowing you to short the market in case you are looking for higher risk trading or day trade in a bear market.

For more details read our full Binary.com review.

HOW TO: Find the top 5 binary options brokers?

Answer: Take a look at our binary options broker list! The top 5 brokers have partnered with us and we recommend trading with to avoid trading with brokers known for cheating their clients and delaying payouts. You can read more here about binary options payout.

Each person will have different needs when it comes to a broker. Before you begin your search, decide what you want to trade, the timeframes over which you’ll trade it, and your basic amounts. Next, find a place that caters to traders in your area, meets all of your requirements, and has high rates of return. This will give you a basic framework for starting your search. Avoid sites that are gimmicky or have unfavourable conditions for their traders. These might not be outright scams, but they are certainly not there to help you make money. There’s a difference between running their business and swindling you out of your cash. Make sure you read about the blacklisted brokers.

Best Binary Options Brokers for Beginners

IQOption is one of the newer binary options brokers out there right now, but they have a lot of different features to offer clients. If you’re trying to find a new broker, or just curious about what IQoption has to offer, this brief overview is for you.

If you want to create an account with IQ Option, you can do so with as little as $10 or even open an IQ demo account. Their minimum trade amount is just $1, but if you want, you can fund your account with more and trade in larger increments. They offer more than 75 different assets, and a variety of different ways to trade them. They have the traditional call and put options, ranging down to 60 seconds before expiry. Because this broker is located in Europe, they have a heavy focus on European stocks and indices, but they also have a handful of the major assets that are based out of other regions in the world.

Be sure to get a strong feel of the platform to help avoid potential trade mistakes. This only makes sense whether you use the demo or not. If you have any questions, you can always contact their customer service department. As you grow as a trader you will realize how well the platform performs.

Also, by learning all the right ways to deposit and withdrawal money will help when it comes down to it. Getting all the important documents to them early will help make it a lot easier when it comes to taking money out.

IQoption does not accept traders from the United States, Canada, or Japan. They are regulated by one of Europe’s largest regulatory financial bodies. If you are located in the EU, you should have no problems creating an account with this broker if that’s what you determine is best for your style of trade. However, outside of Europe, IQoption is not considered a regulated broker.

Nadex is the perfect choice for US traders

Nadex is one of the only CFTC regulated exchanges offering binary options. This broker is based out of Chicago, Illinois, and they are one of the standard bearers in the world of binary options trading. Founded in 2004, and then rebranded in 2009 under their current name, Nadex is the go-to choice for binary traders based in the U.S.

In order to fund your Nadex account, you will need to make a minimum deposit of at least $250. You can use a debit card, bank transfer, paper check, or wire transfer to make your deposit. Depending on the trade you want to make and the profit levels that you are looking for, you can make trades for as little as $1 in some instances. Withdrawals are processed in the same way, except they do not currently allow debit card withdrawals.

Nadex offers free and unlimited use of their demo account. Most brokers limit the time that you are allowed to demo trade to about 3 days, but Nadex has a much stronger focus on the success of their traders. They want traders to succeed because when their traders succeed, they are also successful.

Are you interested in mobile trading? Read our Nadex Review. They offer for both iPhones and Android devices. This is beneficial to some traders, but not to all. If you want to be a successful binary options trader, you need to be able to have a strong ability to discern good decisions from bad ones, and oftentimes, the ability to make more trades isn’t necessarily a good thing. Nadex offers their clients tools geared toward helping them to make money, but you will need to make your own decisions about what is best for you and address the risk that is associated with trading on your own.

Although we have our top sites listed above we still have so many other brokers to choose from. Listed below are some other regulated brokers you can use. Some providers work with only certain customers. We will try to give you the leading countries for each broker based on the reviews we gathered.

A lot of people get really confused when it comes to binary trading. We are trying our best to help your transition a lot easier. Always remember the risks you put your money in when participating in this type of investing.

Broker Info Bonus Open Account
USA Allowed No
Regulation: CySEC
Demo Account: Yes
Min Deposit: $ 10
Minimum Trade Amount: $ 1
FREE DEMO ACCOUNT Trade Now! Read Review
*in case of correct prediction
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

IQOption is one of the newer binary options brokers and it may be interesting especially to the more experienced traders, who want to try their newly built trading pattern. That’s because IQOption offers, apart from a completely free binary options demo trading mode, also different types of graphs, i.e. candlestick charts and lots of useful indicators ready to be customized.

Other decent and fair brokers

Broker Bonus Min Deposit Minimum Trade Amount Payout Demo US Traders Allowed Review Open Account
FREE DEMO ACCOUNT $ 10 $ 1 Up to 100 % !* Review Trade Now!
FREE DEMO ACCOUNT $ 10 $ 1 82 % for Standard, 90 % for VIP accounts* Review Trade Now!
FREE DEMO AND LOW MIN DEPOSIT $ 10 $ 1 Up to 90 %!* Review Trade Now!
Social trading features $ 50 $ 1 Up to 95 %* Review Trade Now!
Only for Australia $ 50 $ 10 Up to 100%* Review Trade Now!
*in case of correct prediction
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

You’ll find a list of all the best binary options brokers below. After clicking brokers‘ logo, you’ll see all the detailed information and reviews. In case you find any mistakes, please do let us know, we’ll greatly appreciate it. We are constantly trying to test and add more brokers that we all can trust.

A broker is, in the binary options world, a company that people trade with. First, a registration is needed. Afterwards, a client deposits money to their trading account and can start trading with real money. When client makes a profit, it can be withdrawn. Registration, money deposit or trying the demo mode (trading with test money) are all very easy. There are some brokers that have very easy-to-use platforms, so we also recommend them for the newcommers.

Newest articles about brokers

IQ Option demo and real trading accounts: Know the differences

If you’re a new trader, you should start with a IQ Option demonstration account. Also known as the ‘demo account’, this type of account allows beginners to try and test.

How to Trade Options in Vietnam with Binomo?

Binomo is a global company that operates mostly in Africa and South America. Also, the company is expanding its services in Asia with a strong focus on Vietnam. To help.

How to Trade Options in India with Binomo?

Since its start in 2020, Binomo has expanded in several markets including India. Binomo is an international trading platform that operates in more than a dozen countries around the world.

Broker Binomo – Get a Free Demo Account

When it comes to binary options trading, education and your level of experience are crucial to success. This is the main reason why it’s best to invest in education and.

All reviewed and recommended brokers were verified by depositing, trading with them and withdrawing earned funds through Skrill and/or wire transfer. We keep trading with some brokers, while we no longer cooperate with others. However, we have made deposits and traded with all listed brokers (usually at least twice a year) to evaluate their performance as good providers of binary option trade services.

The best brokers with whom we still trade are:

IQ Option Short Review

IQ Option is probably the best broker on the market right now. There are over 32 million traders, who have decided to trade with them. This makes them probably the biggest binary options broker ever.

If you’re new to the world of binary options, I recommend you to open an account with them. The minimum deposit is only 10 USD and you can make single trades with as little as 1 USD.

Also, they offer a free demo account, which means you can try trading and not risk a single dollar. You just use “test money” that you can’t withdraw. Other than that, trading on demo account does not differ from trading with real money.

Broker Info Bonus Demo US Traders Allowed Open Account
Payout: Up to 100 % !*
Min Deposit: $ 10
FREE DEMO ACCOUNT Trade Now!

Read Review

*in case of correct prediction
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Binomo Short Review

Binomo is one of the newer companies in the space. It does’t accept traders from most “western” countries such as USA, European Union or Australia. It does, however, provide a pretty decent platform for smaller countries, mainly in latin america and Africa.

Their platform has been audited by VMT and can be called a safe platform to trade with. Binomo, just like all of the “new era” brokers has their minimum deposit set to 10 USD and offer a free demo account. Read the review of Binomo we have prepared and check them out

Broker Info Bonus Demo US Traders Allowed Open Account
Payout: Up to 90 %!*
Min Deposit: $ 10
FREE DEMO AND LOW MIN DEPOSIT Trade Now!

OlympTrade Short Review

Even though we mentioned that IQ Option is the best, OlympTrade is very close. It’s a fairly new broker, also with Russian management, just like IQ Option. Olymp-Trade also offers a low deposit of only 10 USD and a free demo account. Their platform, however, looks way different. Open the review we have prepared for you and see for yourself!

Broker Info Bonus Demo US Traders Allowed Open Account
Payout: 82 % for Standard, 90 % for VIP accounts*
Min Deposit: $ 10
FREE DEMO ACCOUNT Trade Now!

Other brokers

Other brokers than the ones mentioned above are proven by us and do obey all regulations, however we do not trade with them. This is mainly due to slightly lower performance of platforms, smaller feature set or simply a suboptimal trading experience.

Beware of bonus

Bonuses are free money which some binary option brokers try to impose on us. Prerequisite is that all withdrawn funds have to be wagered first. Wagering means having to trade multiple times the bonus value. So, if the bonus you receive is $ 500 and you are required to wager the bonus 40 times, you have to make trades for total value of $20 000 in order to be able to withdraw your bonus funds. This means having to make let’s say 100 trades $ 200 each.

Identity verification

All brokers require some type of identity verification prior to the funds withdrawal. For example, HighLow requires a proof of identity even before initial funds are deposited. Other brokers require the proof before first withdrawal of funds. This proof consists of:

  • Identity verification (a scan of national ID, a passport or a driver’s license)
  • Proof of residence (a scan of energy bill, a bank statement or a credit card statement)
  • Credit card verification (a scan of you card, if a deposit is made with a credit card – you can hide the middle 8 numbers, of course)

You might ask yourselves what is the point of above procedure. Basically, if broker wants to be regulated, they need to have verified clients. Regulatory bodies such as CySEC require verifications to prevent money laundering or credit card thefts.[kkstarratings]

Binary Options Brokers List and Platform Comparison 2020

Trusted and regulated UK binary options brokers provide traders with the opportunity to speculate on a range of underlying assets, via both web based trading platforms or mobile apps. Brokers operate in a range of different ways, some develop bespoke platforms, others will use white label sites. Likewise, some are referred to as ‘over the counter’ (OTC) brokers, while others operate an exchange.

Our vetted comparison table below allows you to quickly scan the key points for any recommended, reputable broker. Our detailed expert reviews cover in-depth analysis of the platform, deposit and withdrawal options, bonuses, demo accounts and even complaints for a specific firm – and give each a ranking / rating.

Finally, below the broker comparison table list, we explain how to compare online brokers – and why some elements might be more important to you than to someone else. You should therefore, have all the information you need right here, to make the best choice for you when it comes to finding a safe binary broker.

UK Brokers – Comparison and Reviews

Min Deposit Min/Max Trade Payout Bonus Demo Regulated App
£5 £5 – £100,000 91% Review » Visit
£10 £1 – £10,000 91%* Review » Visit
£5 £5 – £10000 93% 75% Pro Account + 10% CB Review » Visit
£250 From 0.1 lots – £100,000 Review » Visit
£10 From 0.1 Lots – Varies by asset N/A Review » Visit
£250 £1 – £10000 90% 100% Deposit Match Review » Visit
£50 £5 – £1000 85% 30% Review » Visit

How to Find the Best Binary Broker

Identifying the best regulated binary options broker depends entirely on the needs of the specific investor. A ‘Top 5’ or even ‘Top 10’, might not contain a single brand that suits your style. A trader needs to consider a range of things when selecting a genuine premier broker to join. This will include the asset classes, or market, they want to invest in and the size of their average investment, to name but two.

Here at binaryoptions.co.uk we list all the useful facts that will help an individual to select which trading broker they would like to open an account and sign up with. We have also analysed our most frequently asked questions, and know that the following features are important when traders are deciding on a broker;

  1. What is the Minimum Deposit?
  2. What is the Minimum trade / Minimum Investment?
  3. Does the broker offer a Demo Account?
  4. Is the broker offering a signals service?
  5. Does the broker provide trading via a mobile app?
  6. Is there a Bonus available for new trader accounts? (Terms and conditions are equally important)
  7. Which is the best binary trading platform?
  8. Who offers the best asset lists and markets?
  9. Which broker has the largest range of expiry times?
  10. Who are the regulated binary options brokers?
  11. What types of options are available? (Touch, Ladder, Range, Pairs etc)
  12. Software Integration (brands that use MT4 – MetaTrader 4 for example)
  13. Is a halal or Islamic account available?
  14. Does the broker offer easy withdrawals, early closure or flexible deposit and payment methods?

There is also information on promos such as competitions or contest with cash prizes, or tech.

Regulated Brokers

Our broker reviews will be specific about which regulator is responsible for each broker. In the UK, the Financial Conduct Authority (FCA) regulate a number of brands already – not because they trade binary options – but because they also allow clients to trade Contracts for Difference or forex. Some binary options brokers have chosen to to register with the FCA – but this is not the same as being regulated by them. It is a key point if UK traders in particular want the piece of mind that FCA regulation gives.

Regulation gives traders a better idea if a broker is genuine, and legitimate. In the US, the CFTC regulates the financial sector. Only Nadex and CBOE are officially licensed to offer binary trading. Regulated brands in Europe will not offer services to US traders. CySec is the main European regulator. They have recently clamped down on some of the brands under their jurisdiction – cleaning up a large part of the industry in the process. CySec regulated brokers are permitted to accept UK traders. The MiFID II directives mean a Cypriot licence can be ‘passported’ for UK clients.

In Australia, ASIC (Australian Securities and Investing Commission) regulate financial institutions – including brokers. Their oversight is on par with the FCA. Malta and the Isle of Man also license some binary operators based on a gaming permit. These also offer a strong level of protection.

Binary Trading Demo Accounts

Sign up bonuses and demo accounts are two factors that are designed to entice new account holders. Both are extremely effective at attracting beginners and new customers and it is easy to see why.

Bonuses are generally paid as a deposit match, or sometimes once a set number of trades have been settled, for a set amount. There are generally restrictions, or terms and conditions that need to be met before the funds are available to be withdrawn. It is worth spending some time understanding those terms before signing up. If the terms are not likely to be met (for example a volume of trades within the first few weeks) then the bonus loses any appeal and that broker may no longer be the best choice. There are also some terms which restrict even the the withdrawal of the initial deposit – not just bonus funds. These are thankfully rare – but highlight the need for checking.

Binary options demo accounts are a great way to get introduced to binary options trading without needing to risk any funds. Investors looking longer term can ensure that the broker is the right one for them once they are trading for real money. Practise or virtual accounts offer a wealth of benefits. They also provide a great way for traders to compare brokers directly or back test trading strategies.

Minimum Deposits

For those investors looking to get involved with binary options for the first time, cheap minimum deposit requirements may be of interest. Traders looking to only risk small amounts, will find a broker with a smaller minimum deposit more appropriate. Low deposit requirements start at £5 or £10. Higher minimum deposits reach £100 or £250. Higher deposits often mean certain benefits, such as improved rates, larger bonuses or access to a higher level account such as VIP or Platinum etc.

All brokers will have a minimum trade requirement too (or minimum investment). These can vary significantly. There will be some investors for whom neither of these are a consideration and if so, these factors do not need to form part of their selection criteria. Minimum trade figures range from £1 to £25 – which is a very sizeable difference if a trader plans to trade frequently. Some newer firms offer cryptocurrency funding options – and a min trade of just $0.1 (or equivalent).

Both minimum trade, and minimum deposit figures are shown in the comparison list. We also list whether a firm accept either Paypal or Skrill for deposits or withdrawals.

How Do Binary Brokers Make Money?

How are brokers paid? It is a popular question. Brokers make money in one of two main ways explained below – both of which are based on easy-to-understand profit models.

Here’s a closer look at how binary options platforms differ from stock brokers, and where the money goes.

Customers approaching over-the-counter (OTC) binary options brokers for the first time are likely to have a question on their mind: “Where’s the commission?”.

The simple answer is that there isn’t one. Although OTC companies are commonly referred to as ‘brokers’, this isn’t strictly accurate. They are not arranging a deal or acting as a middleman; they are basically the counterparty to each of their customers’ positions. So they don’t charge a separate fee or commission for the trade. Instead, each customer is essentially betting against the house.

Here is an example – Let’s say that the broker offers contracts on a particular asset. Of course, there will always be the choice between a Put contract and a Call option. On the binary model, the basic theoretical assumption is always that an equal number of traders will take a contract on each position. It follows that the number of traders in the money will be equal to the losers (in theory).

Potential Profit

With this in mind, here’s an illustration of how an over-the-counter broker operates:

For a contract on a particular asset, a return of 80% is offered.

From its customers, the broker receives:

  • £100 for contracts on Put options
  • £100 for contracts on Call options
  • The broker cashes in on the contracts entered into by the losing traders (on expiry), totalling £100. To the winners, it must return their stake and the profits won – i.e. £100, in addition to £80 profits on the trades.
  • From all transactions, the broker is left with a profit of £20.

Shopping around: how brokers offer flexibility…

Returns offered vary from platform to platform. The level also tends to vary from asset to asset. A well-established, and stable platform with lots of users is good news from a trader’s point of view. It means that the broker is big enough to withstand a run of heavy losses without running into liquidity issues. It is also more likely to be operating at, or pretty close to the 50:50 binary model – where there is broad parity in terms of the number of customers taking a position on each side of a contract.

This gives a broker greater leeway to offer attractive arrangements to customers. A successful platform has more scope to offer higher returns – and thereby grow its customer base. Some also refund a percentage of losing trades (rebates). These often give customers the ability to opt between reduced payouts on winning trades in return for a higher refund on a losing position. All of this helps to give traders a welcome degree of control in managing risk.

Exchange Brokers

In the UK, a broker trading binaries over an exchange generally offers additional forms of trading too. For example spread betting or CFD (Contracts for difference) trading. These forms of trading are treated differently to OTC binary platforms from a regulatory point of view. For example ETX Capital and IG Index are fully regulated by the Financial Conduct Authority.

On pricing, comparing an exchange platforms with a pure OTC platform is tough (because you are not comparing like for like). One way is to look at the margin (difference between buy and sell prices). CMC for instance has a margin of around 4% on binary markets – helping to make it highly competitive, price-wise.

Via one of two ways:

  1. As a counterparty, ensuring an ‘over round’ via payout percentages.
  2. Via a spread or commission on an exchange traded model

Whichever type of platform you choose, transparency is key – and a reputable platform will always provide clear information on payout rates so you can make informed decisions. For at-a-glance info on payout rates and more detailed information on the pros and cons of all the top platforms, see our comparison list and reviews.

Binary Payouts

One key element to finding the best binary trading account, is the payout percentage offered. This is not always a straightforward comparison. Payouts will vary depending on the underlying asset being traded, and the length (expiry time) of the option. In addition, the payouts could move as the market dictates. So where one broker was originally the best price, things may subsequently change.

The best an investor can hope for is to check the payouts for the types of trades they are most likely to make, and get a feel for which firm offers the best terms most often. Again, demo accounts can help in this regard. In general, exchange traded options offer superior value.

Trade Types

Traders need a binary options broker that delivers what they need. So if you want to trade 60 second options, or end of day options – you need a broker that provides them. Not every broker offers the same type of trade. Ladder and Touch options are not always available with all firms. As mentioned, expiry choices also vary. 30 or 60 second turbo options might be popular, but they are not listed everywhere. Likewise pairs or end of week options might be restricted to just a few brands.

Early closure of trades might be another show stopper. Or the ability to use software with free signals. Traders worldwide have hugely different requirements. Where a broker operates in a certain part of the world, they may only offer the popular trades in that region. A broker in London may offer different products and assets to one in Cyprus, India or Malaysia.

Managed Accounts

Some brokers will offer managed accounts. Traders need to tread carefully in this area. There is a conflict of interest for an over the counter broker to operate a trader’s account. It is unlikely that a managed account will be operated in the best interest of the trader. If the trader makes money, the broker losses money. An employee or agent of the broker is therefore more likely to help the broker, than the trader – it is their job!

For this reason we would not recommend using a managed account – but some brokers do offer them, and where this is the case, it will be mentioned in the review.

MetaTrader 4

Software integration might be key for some traders. Where a trader prefers to use their own price analysis software or service, a broker that can integrate with that is vital. The industry standard is MetaTrader 4 (Mt4) – a platform that allows advanced technical analysis, as well as the execution of trades. The majority of brokers use MT4, and allow traders to trade with it.

Many brokers integrate with this service (and others) via a license or plugin. Leading brokers will also add their own features to the platform – in theory, enhancing it. So if a trader is looking for a firm that can execute trades via this platform, it is a huge benefit. Some brokers are also compatible with MT5 (MetaTrader 5) – but this latest version is yet to gain traction. Though those firms that have adopted it, are to some extent, future proof. It is one further thing to consider when checking the comparison list to find the best provider.

Find The Best Deal For You

As the above demonstrates, finding the best trading platform and binary broker is not always easy – but it is worth remembering that an investor is free to move between brokers whenever they choose, so even if an account turns out to be less useful than was first expected, it is no problem to up sticks and find a new trading firm. Likewise, a trader could have multiple accounts, and open trades at the broker with the best terms for that particular trade. A trader should not be tied down.

Within our website, we provide a wealth of information that can help in choosing the best options broker, here are a selection of articles that will help;

Best brokers for beginners?

The best brokers for beginners will be those that offer a demo account. These accounts allow absolute beginners and those new to binary options, to try out the trading platforms risk free.

The majority of brokers will offer this facility, as it gives them a chance to demonstrate their platform.

In most cases, a demo account will not require any deposit, and a trader can open multiple accounts at various brokers. Each can be tried out, and the trader can then decide which they prefer.

Another point for beginners is that they should probably focus less on bonuses. This is because it is easy to fall into over-trading, or simply not make best use of the bonus funds. More experienced traders are better placed to ensure any bonus suits their trading style, and will not impact how they trade.

Better comparison factors for beginners might be:

  • Minimum trade amounts
  • Ease of use of the platform
  • Educational materials available.

Which is the best trading platform?

Answering a question like “Which is the best trading platform?” is hard, simply because trading platforms often come down to the preference of a specific trader. One user might prefer a simple layout, another might want a lot of information available all the time.

That said, platforms do differ in quality, both in terms of ease of use, and features. In very general terms, brands which also offer Contracts for Difference (in addition to binary options) provide more feature-rich trading platforms. Likewise, brands that have created their own platforms, will offer superior services than a ‘white label’ that uses a platform provider such us SpotOption.

So the likes of CMC and ETX Capital, all deliver a very professional trading platform. MetaTrader integration is also more likely at these brokers. This difference in quality is simply a reflection of the maturity of binary options as a product, and binary brands are catching up very quickly – while still offering something different. IQ Option, for example, deliver a hugely entertaining experience, illustrating the change in style that some brokers will deliver.

How to avoid scam brokers?

Our scams page provides a list of ways to identify if a broker is genuine and safe. We also provide a broker blacklist of services to absolutely stay away from. With new platforms able to setup quickly, it is not a complete list of brokers, but the tips on spotting a scam should help most traders.

With so many honest and genuine brokers, there is little point in risking using a cheap broker that has attracted a lot of complaints.

Brokers with low minimum deposit?

The number of binary options brokers offering a low minimum deposit is growing quickly, reflecting an increasing demand for a lower entry level from traders.

Previously, minimum deposits had been quite high, but now Binary.com, Ayrex and IQ Option all offer low minimum deposits of £10 or less. This represents a real confidence from those brokers, that traders will like their trading platform and go on to make more deposits once they are familiar with the brand.

CMC Markets also offer a low minimum deposit, only requiring the deposit to match the trade size the traders wishes to place.

Who offers demo accounts?

In our demo accounts page, we explain the benefits of using a demonstration account, and also show who provides them.

The majority of respected brands will offer a demo account, or practice account. In theory, it is a great way for them to ‘show off’ their platform. So those brokers that offer this type of account, obviously have faith in their platform and the technology that supports it.

Our comparison table shows clearly whether the broker provides a demo account or not. The in-depth review will inform readers about the specific detail of the account (if a deposit is required, or if the account is time restricted for example).

Bitcoin and Cryptocurrency

Cryptocurrency is a booming area for brokers of all types. Bitcoin and Ethereum are currently the most popular, but there are over 15 different currencies already. Whether you consider them a novelty, or the future of finance, brokers now make trading them easy.

With Bitcoin in particular, anyone looking to invest or trade may have thought the process was difficult. Recently however, brokers are giving traders access to these market in a very simple way. The currencies can be traded directly, in a similar way to oil or gold. They can also be traded in a currency pair, with several brokers offering the BTCUSD pair. This can be traded just like any other forex pair.

Some brokers will accept bitcoin or other cryptocurrency as a deposit method. So traders can deposit, trade with, and be paid in Bitcoin, DASH, Litecoin or any other crypto. So whatever your view is on this new craze, it is now very easy to take a position and profit. Read our guide to trading bitcoin.

Top Binary Option Brokers of 2020

The total number of active binary options brokerages currently stands at 501.Brokers open up shop almost on a daily basis. And only a few remain in a high competition for best offers and higher returns. Competition among Binary brokers is fierce, which means costs are coming down and services are being ramped up.

To decide on a Binary broker, you should look at the following factors:

  • Account minimum – maximum
  • Costs and Fees
  • Assets & Instruments
  • Customer Support
  • Accepted Countries

Best binary brokers 2020

Platform Min. Investment Min. Deposit Max. Returns Min Withdrawal
OlympTrade $1 $10 92% $10
PocketOption $1 $10 96% $10
ExpertOption $1 $50 90% $50
Binomo $1 $10 87% $10
HighLow $50 $50 180% $50

Finding a decent binary options broker isn’t an easy task. It’s a matter of doing your due diligence check before you decide to invest.With the proper preparation and dedication, anything can be done.Your first broker won’t necessarily be your broker for life. Your life will change, and your needs as an investor may change along with it.

Let’s go over top Binary brokers of 2020

Olymp Trade

Olymp Trade appeared on the options market in 2020.As a leading trading platform, Olymp Trade provides the market with a one-stop hub for trading, complete with easy-to-understand trading tools and resources that are easy to follow and understand.

If you’ve searched the web for a trading platform you’ve likely come across a few that trigger skepticism. However, according to Olymp Trade they are currently a member of the International Financial Commission, which they joined in 2020. Being a part of the Financial Commission gives traders a level of reliability as traders deposits may be refunded up to $20,000 in the event of fraud by the company.

Olymp Trade Account minimum & maximum :

  • Minimum Deposit: $10
  • Minimum Investment: $1
  • Maximum Return: 92%
  • Minimum Withdrawal: $10

Olymp Trade offers :

Over 70 asset types including currency pairs, commodities, stocks, indices and crypto. Some brokers offer lots of different trade types, these include Call/Put or High/Low options then there are Ladders and Pairs, Range, One Touch and Long Term. This isn’t the case with Olymp Trade as there is just two types of trades, the classic, tried and tested High/Low and 60 Second Options.

Olymp Trade support :

Operated in 8 languages Russian, Arabic, English, Bahasa, Indonesian, Portuguese, Spanish and Turkish.Olymp Trade are no different, they have a strong support system in place and support is available by phone, via email or by live chat.

Olymp Trade does not operate in :

Gibraltar, the Isle of man, Guernsey, Jersey, Australia, Canada, the United States, Japan, Austria, Belgium, Bulgaria, Croatia, Cyprus, Lichtenstein, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Iceland, Italy, Israel, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, New Zealand, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Switzerland, Sweden, and United Kingdom

Most popular Question ‘Is it a Scam’?

Essentially, they tick all of the boxes of a trustworthy digital options broker including offering trader protection, backed by the IFC of up to $20,000.

Conclusion

Olymp Trade positions itself as an innovative company on the Binary options market. It has reached higher levels in the quality of provided services and its clients training. Both experienced and beginning traders have an opportunity to practice their skills.

Pocket Option

Pocket Option is a brand-new binary options broker promising instant access to more than 100 assets.Their approach is to reach out to beginners, and traders that want to spend time in a virtual platform before spending real money trading. Pocket Option looks like a brokerage with very high payouts, low deposit and withdrawal requirements

PocketOption Account minimum & maximum :

  • Minimum Deposit: $10
  • Minimum Investment: $1
  • Maximum Return: 96%
  • Minimum Withdrawal: $10

Deposits and withdrawals can be made using 100 methods, including of course credit cards, wire transfer and tons of e-wallets. The minimum sums vary depending on what part of the website you’re reading but they are pretty low either. Pocket Option offers bonus which is 100% for a minimum 50 USD deposit (something like that will definitely attract the attention of beginners)

Pocket Option offers :

22 currency pairs, 6 commodities, 17 stocks and 40 cryptocurrencies, among which the popular Bitcoin but also Litecoin, Ethereum, Dash and many more.

PocketOption support :

Operates only in English and Russian. You can contact specialists by sending e-mail, using Live Chat or toll-free telephone number.

Pocket Option does not operate in :

As Pocket Option claims, they operate from many countries.

Most popular Question ‘Is it a Scam’?

The brokerage is quite new, so far nothing points towards them being a scam.

Conclusion

If you are looking for a quick way to make some demo trades, then Pocket Option may be the solution for you. It’s difficult to enter the binary options market, considering there have been so many brokers inhabiting this marketplace for quite some time. That being said, Pocket Option feels that there is room for them, as a more simple and convenient way to trade.

The platform began providing services in 2020. ExpertOption makes the clients the priority, also making customer service its primary value.

ExpertOption

What really stands out for expert option is that they have developed their own trading engine and platform. This is contrary to the usual practice where brokers would outsource their platforms to an external technology provider.

Expert Option Account minimum & maximum :

  • Minimum Deposit: $$50
  • Minimum Investment: $1
  • Maximum Return: 87%
  • Minimum Withdrawal: $10

In Expert Option you can choose among 20 different payment options to fund and withdraw from your trading account.New accounts attract bonuses that range between 50% and 125% of the amount deposited. You can choose to decline the bonus. This is only possible if you haven’t started trading. One downside to accepting the bonus is that it locks your deposited funds.

Expert Option offers :

This online Binary options broker offers around 100 different types of assets.These include currency pairs, commodities, stocks and cryptocurrencies. Their cryptocurrencies list is quite impressive. While most brokers prefer to offer just Bitcoin and Ethereum, Expert Option offers well over 10 different cryptocurrencies along with exotic pairs such as BTC/INR (Bitcoin/Indian Rupee).

Expert Option support :

ExpertOption provides 3 different contact numbers for clients from different regions in the world. In addition, you can also contact customer support via email or live chat.Expert Option claims that they have 24/7 customer support. You can reach these support agents directly from the trading platform.

Expert Option does not operate in :

The platform was built to enable traders from different parts of the world to gain easy access to options. This however doesn’t mean that traders from all countries are allowed to trade on the platform. Due to regulatory requirements in some countries, Expert Option doesn’t offer their services to citizens of countries such as the USA, Canada, Israel, Japan and Australia among other countries.

Most popular Question ‘Is it a Scam’?

One of the things that point to Expert Option’s legitimacy is their transparency. For one, they’ve explicitly provided their contact information. Some brokers usually only provide an email address which makes it harder to get in touch with their customer support staff.

The broker is also regulated by the FMRRC and VFSC. From their list of non-supported countries, it’s evident that Expert Option largely targets traders from Russia and other Asian countries.

Conclusion

Compared to all the other Option brands, it seems that Expert Option has a relatively clean online reputation. If you are interested in a strong platform with numerous cryptocurrency assets and you are in a country that Expert Option operates in, then it may indeed be a solution.

Binomo

Established in 2020, they seem to offer everything that you would expect from a top level firm. Their mission – “An innovative trading platform with small investment.”From a quick glance, they appear to have an emphasis on the technology side of trading. The company is a trading platform that allows users to benefit from up and down moves in the underlying asset. Binomo’s website states they are, “…a trading platform on which you can ear on rises or falls in currency exchange rates and prices for shares or commodities”.

Binomo Account minimum & maximum :

  • Minimum Deposit: $10
  • Minimum Investment: $1
  • Maximum Return: 99%
  • Minimum Withdrawal: $10

According to the FAQ page, you can fund your account using a plethora of options, which include Visa, MasterCard, Neteller, and even cryptocurrencies such as Bitcoin and Litecoin. When first time registered by Binomo, you have the right for getting bonuses. Their amount may reach 100% of the filling sum.Such offers let you double your capital at once after you signed up in the system, with no risks for your deposit.

Binomo offers :

Types of Assets : Currency pairs, precious metals, cryptocurrency (Bitcoin BTC, Litecoin LTC, Crypto IDX), indices, raw materials, stocks

Expert Option only offers High/Low Options and Turbo Trades. Expiry times for High/Low options are 15, 30 and 60 minutes. The more complicated pair options aren’t offered, another sign of a target audience of new or inexperienced traders.

Binomo support :

Customer support seems good and the mobile trading experience is suitable for trading on the go. The site is intuitive and easy to navigate.

Binomo does not operate in : Canada, Cyprus, UK, Ireland, United States

Most popular Question ‘Is it a Scam’?

According to their regulations page, they are a member of the Financial Commission, which is “…a neutral and independent dispute resolution organization that specializes in financial markets”. Since May of 2020, the company has been an “A” category member of the Financial Commission. Essentially this means that Binomo is attempting to be transparent in their operations and provide confidence in their platform.

Conclusion

Overall, this trading platform has all the necessary products to begin trading and putting your money to work.If you’re just starting to get acquainted with the options market, you won’t find a better broker than Binomo. On the company’s website, there is a large collection of material for beginners and professional training for a variety of traders.

HighLow

Since its inception in 2020, HighLow has been serving clients from all over the world. And over the years, the broker has earned a reputation for being a transparent and trustworthy broker.

HighLow Account minimum & maximum :

Minimum Deposit: For Australian based traders, the minimum deposit requirement is merely AUD$10. As for international traders, the minimum deposit requirement is $/£/€50.

  • Minimum Investment: $50
  • Maximum Return: 180%
  • Minimum Withdrawal: $50

Free cashback of $50 is a benefit both novices and experienced traders will appreciate. One could say that this is a risk-free trade, rather than a typical cashback. It is true that CySEC has imposed a ban on trading bonuses. However, High-Low is not regulated by CySEC. This absence of regulation is logical because the geographic regions in which the broker is doing business and focuses on include mostly Australia and Japan (not Europe).

HighLow offers many different ways to deposit funds into and out of your account. These include Visa, Mastercard, Wire Transfer, Amex, and Neteller. Deposits are usually done immediately, but withdrawals could take 1 day.

HighLow offers :

Their asset list is not as extensive as what most binary brokers are offering in the industry. Currently, HighLow has only 43 different types of assets. Nevertheless, the available assets are able to cover different asset classes such as currencies, commodities, and market indices. Option Types:

High/Low – The standard binary trade – will the asset value finish higher or lower than the current price.

High/Low Spread –Payouts on the ‘spread’ options are 100%.

Turbo – Again, these follow the same process as a standard High / Low option. So expiries of 30 seconds and 1,3 or 5 minutes.

Turbo Spread – Short term expiry high / low options – but with a spread on the current market value and payouts of 100%

HighLow support :

You can only contact their support team through email and the telephone. As for telephone support, the service is only available on weekdays from 09:00 to 04:00 (AEDT/AEST time)

HighLow does not operate in : Cameroon, Hong Kong, Iran, Israel, Nigeria, Romania, Russian Federation, Singapore, Saudi Arabia, Canada, India, Albania, Algeria, Bangladesh, Belarus, Brazil, Belgium, Ghana, Iceland, Pakistan, United States, Germany, Italy, Netherlands, France, Spain, Russian Federation, United Kingdom.

Be aware that there are hundreds of different Binary Brokers available to you, and as such finding one that is going to offer you everything you are looking for and one that is going to offer you a fully rounded trading experience may take some time.

Most popular Question ‘Is it a Scam’?

While trading with this friendly broker, traders do not need to worry. This broker is regulated with AFSL ( Australian Financial Services Licence) by ASIC (Australian Securities and Investments Commission) under license no. 364264.Of course, there are some countries that are not accepted by the broker itself. U.S residents, for example, are not accepted.

HighLow broker offers a friendly trading platform and a secure trading environment.

Conclusion

With a cutting edge platform, instant withdrawals, a powerful mobile trading app and full regulation – High Low offers a great choice of broker for both novice or beginner traders, as well as for more advanced trading veterans.With their corporate headquarters located in Sydney, Australia, HighLow is one of the few remaining binary options brokers that are still going strong.

Now you know the top six. All of them have Free Demo accounts. Do not use a binary options broker that does not provide a demo trading account which lets you try out your strategies using virtual money. Also, make sure the demo account is using real live market data and not pre-recorded data streams.

Here are some of the factors that should be compared while choosing binary options broker:

  • Compare Deposit Bonus: though not every broker, most of them offer deposit bonus or welcome bonus.
  • Payout of Maximum Percentage
  • Minimum Deposit
  • Deposit and Withdrawal Options
  • Customer Service

To be successful in binary option trading, finding right broker is the most crucial part.

Unless you have clear guidance for choosing right trading broker, it is will difficult to compare and make any decision.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Sign-up Bonus!

  • Binomo
    Binomo

    Trustful Broker!

Like this post? Please share to your friends:
Binary Options Wiki
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: