10 Best Binary Options Brokers for 2024
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Traders need to make the right choice of a binary broker without relying merely on their experience in the Forex market, as this will raise the efficiency and convenience of trading. You do not need to collect information on various brokers and their trading conditions anymore. We have done this for you below. Our listing order is based on real feedback from traders, as well as numerous additional factors.
The affirmative incorporation of new technologies into a broker’s operations, the local and global stability of the company, and the trade growth of the brokerage company also influence the popularity of the broker and its position on the ratings list. The information on the ratings list is regularly updated. Traders can instantly access the current position of brokers in the Forex market.
Best Binary Options Brokers for 2024 (United States)
deposit:
62% of retail investor accounts lose money when trading CFDs with this provider.
deposit:
Your location is United States
We’ve selected Top Binary Options Brokers providing services in your country. If you would like to learn about the best binary brokers in a different region, please use the “Find my broker” service.
Best Binary Trading Platforms for 2024 (United States)
Experts at the Traders Union regularly analyze existing binary brokers, evaluate their activities against more than 120 unique evaluation criteria and methodologies that are applied equally to every company on the list. Comprehensive and objective comparisons make it possible to create the most objective ratings list of brokers offering binary options.
| Ranking position | Logo | Trading Firm | Minimum Deposit | Next Step |
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1
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Minimum Deposit:
$5
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Open an account
Your capital is at risk.
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2
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Minimum Deposit:
$250
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3
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Minimum Deposit:
$5
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Open an account
Your capital is at risk.
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4
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Minimum Deposit:
$5
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Open an account
Your capital is at risk.
62% of retail investor accounts lose money when trading CFDs with this provider. |
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5
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Minimum Deposit:
$10
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Open an account
Your capital is at risk.
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6
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Minimum Deposit:
$5
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Open an account
Your capital is at risk.
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7
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Minimum Deposit:
$10
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Open an account
Your capital is at risk.
You should never invest money that you cannot afford to lose. |
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8
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Minimum Deposit:
$10
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Open an account
Your capital is at risk.
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9
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Minimum Deposit:
$20
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Open an account
Your capital is at risk.
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10
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Minimum Deposit:
$10
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Open an account
Your capital is at risk.
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11
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Minimum Deposit:
$50
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Open an account
Your capital is at risk.
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12
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Minimum Deposit:
$250
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Open an account
Your capital is at risk.
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13
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Minimum Deposit:
$10
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Open an account
Your capital is at risk.
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14
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Minimum Deposit:
$250
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Open an account
Your capital is at risk.
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15
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Minimum Deposit:
$250
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Open an account
Your capital is at risk.
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16
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Minimum Deposit:
$250
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Open an account
Your capital is at risk.
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17
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Minimum Deposit:
$250
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Open an account
Your capital is at risk.
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18
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Minimum Deposit:
$50
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Open an account
Your capital is at risk.
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19
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Minimum Deposit:
$10
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20
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Minimum Deposit:
$10
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Compare and Contrast Two Binary Brokers in the Ratings List
Traders often find several binary companies in the ratings list that best suit their trading goals. In such a situation, to choose the best binary broker, you need to focus on the following criteria:
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"Age" of a binary broker.
In our opinion, companies founded only 1-2 years ago are not yet reliable. They don't have enough experience to deal with crises. They have not proven themselves in the market and are not as sensitive to their own reputation as are veteran brokers.
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Regulation.
A binary broker can operate without a license, but you should not choose such a broker, because it does not report to any governing authority and may well turn out to be a scammer or a financial pyramid. It is recommended to choose a broker with a level 1-4 license from an authorized regulator.
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Offices and representative offices
If a binary broker is registered in the British Virgin Islands and has an office there, this is a reason to give it serious consideration. The best binary options brokers, who have been successfully offering their services for a long time will have an extensive network of representative offices.
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Trading conditions.
Each binary broker has its own trading and non-trading commissions. Some use only a couple of dozen assets, others have several hundred assets. The combination of all these parameters determines how comfortable it is to work with a given broker and whether it is right for you.
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The quality of customer service.
The best binary companies carefully monitor their technical support because the quality and level of service reflects their approach to work and guarantees customer assistance when needed. It is not recommended to choose a broker with slow, incompetent, or non-responsive customer service.
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Customer reviews and feedback are very important.
However, you should take into account only reviews posted at independent sites such as Traders Union because some brokers write their own reviews on their platforms, so such reviews cannot be deemed trustworthy. Try visiting unrelated and objective sites for more reliable data.
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Position in the Traders Union rating.
Many people correctly believe that this criterion is key because experts at the Traders Union evaluate the best binary brokers according to all the above parameters and several dozen other elements. By doing so, we commit to providing you with the most objective and comprehensive ratings of brokers.
Opinion of TU Expert
Contributor
For those starting in the binary options trading arena, Traders Union's insights into the top brokers are invaluable. Binary options trading offers a unique opportunity for traders to profit from price movements in various asset classes with minimal capital outlay and time commitment. However, the key to success lies in choosing a reliable broker that provides the right platform and tools to help you maximize your returns.
As a beginner, it's crucial to start with a broker that caters to novices, offering a user-friendly platform and educational resources. Pocket Option, QUOTEX, and IQcent are highlighted as top choices for their ease of use and supportive features. Before diving into live trading, practice with a demo account to familiarize yourself with the market dynamics and test your strategies without risking real money.
Remember, binary options trading can be profitable, but it requires knowledge, strategy, and a cautious approach due to its inherent risks. Choose your broker wisely, educate yourself continuously, and trade responsibly.
Methodology Used to Create the Binary Rating by Traders Union
The Traders Union experts' approach to the analysis of binary brokers is unique because our specialists evaluate not only nominal indicators such as the age of the company and its trading conditions, but we also include a selection of the reviews about brokers that we have collected over 10 years. Also, hundreds of thousands of our member-traders regularly trade with various brokers and provide us with the statistics of their trades. Besides, they are constantly chatting on the forums, giving experts first-hand information. Our methodology is a universal analytical matrix that takes into account various aspects of a binary broker's work. That allows us to achieve the highest level of objectivity when evaluating companies.
Table with the categories of criteria for evaluating binary brokers
| Criteria category name | Elements in each criterion |
|---|---|
| Financial | 40 |
| Reliability | 31 |
| Security | 27 |
| Trading conditions | 18 |
| Customer service | 10 |
Find out more about the unique broker assessment methodology developed by Traders Union specialists.
Latest Customer Reviews of Binary Options Brokers
Firstly what i picked up is that the app is user friendly it has a trading platform that offers many options trading in various financial instruments like stocks, commodities, currencies, and cryptocurrencies which is very great because it gives you a chance to choose which one you like the most and are interested in and. The app also provides users with a range of tools and features for trading, including analysis tools, market updates, and educational resources. However, like any trading platform, it also has its drawbacks, such as potential risks associated with trading, including market volatility and the possibility of losses. I also liked the social part where you get to view other members of the apps potential earnings I think and how they are doing.
At the moment, having changed several brokers, I recommend iqcent as a decent company with a very fast withdrawal procedure. I've been working with them for 3 months and I'm happy with everything. Everything is fine here — a beautiful and informative website, prompt and competent support.
Quotex is so far the fastest binary broker to navigate through and load, lightest and most convenient with deposits and withdrawals as it offers a wide number of payment options which makes it easy to use from any country in the world as per my experience from a couple of months using it. Quotex also has the fastest withdrawals as per my experience. It has a good looking interface too which doesn't bore or cause eye straining to the user, so you can stay before your screen for a very long time without disturbance. With Quotex, you can trade anywhere since it is very compatible with smartphones. Anyone who trades wisely (with patience, analysis and with no greed) is very more likely to grow financially. Hence I rate Quotex 5 stars!
Raceoption is quite a normal broker. Of course, it’s not perfect. They don’t always have instant execution when there are sudden movements on the chart. But its clients are treated well and the support is at a good level. I have been trading with them since July and so far there have been no problems with deposits and withdrawals. Although the amounts are small, $200 - $300. So far, everything is fine, but time will tell.
The Deriv trader accommodates a vast library of trading indicators and charts candles.m, take profit and stop loss feaures. If you want to trade better and minimize risk as a new trader, spend time on learning about risk management strategies and how to apply them. Also learning how to use different indicators to analyze trade will help you make good trade decisions. Remember to quickly reach out to the customer care on the live chat and WhatsApp if you encounter any challenges when trading on Deriv Trader.
I opened an account with Pocket Option in February and was surprised by how easy it is to use the platform. Setting up the demo account was straightforward. It provided access to various trading instruments, such as quick trading, shares trading, forex mt4, and mt5. This allowed me to try different strategies without risking my money. Another thing I liked was the ability to trade popular currency pairs like usdjpy on the demo account, and it comes with a $50,000 balance on the quick trading. There are also indicators like moving averages that are free to use. It helped me understand market movements and execute trades. On the disadvantage, I have observed that demo accounts may not accurately reflect the volatility of live markets. Everyone should be cautious when transitioning to a live account. Overall, Pocket Option demo account is one of the most convenient to use out there but not the most accurate.
videforex is no worse than other brokers, and in some cases even better. The user account is very functional and understandable. A trading account can be quickly opened and funded, and account management is very functional. I also cannot help but note that the company’s support is very informative, which is very pleasing.
Dabbled with USD/EUR pairs and was chuffed to make a small profit! I found it refreshingly simple to use
I've been using ExpertOption and appreciate its user-friendly platform, especially for beginners like me from SA. Started with a demo and then moved to commodities, making some profit. Encountered a minor delay with customer service once. Overall, a positive experience!
Quotex platform is user friendly, easy to trade, simple view with Options quite clear for better understanding for beginners as well. Almost all the valuable currency pairs are available with commodities. Even the indicators sections have a variety of options. One of the best things I have found is deposits and withdrawals are fast.
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How to choose a binary broker from the Top 3?
All the leaders on the ratings list are the best brokers for the current month based on a comprehensive comparison. However, each has its own commissions, number of assets, type of trading terminal, etc. You should compare them carefully and decide which one will be best for you, based on your personal goals and needs.
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Where to read reviews about binary brokers?
Each binary broker on our ratings list has a personal page containing its profile. You can study the information about this company on their respective pages, including its latest reviews. You can also write your own review there.
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How to open an account with a binary broker through Traders Union?
To do this, you first need to register at the Traders Union website. After that, at the website of your chosen broker click on the link for the Traders Union website. After you create your account with your broker, enter its number in your personal account at the Traders Union website in the Accounts section. Done!
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Why register with a broker through Traders Union?
Traders Union provides its members with financial bonuses: for example, it returns a part of the spread and arranges contests between novice traders on virtual accounts with real prizes.
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What is a binary broker?
A binary broker is an officially registered company that specializes in providing traders with the ability to trade in collated options, such as currency pairs, commodities, stocks, or indices. A binary broker offers a trader an electronic trading terminal, quotes, additional options, and charges a commission on successful transactions.
