Best Binary Trading App for 2024 - TOP 5 Comparison

Detailed Review of the Best Binary Trading Apps

To make an informed choice of a mobile app, you need to read a detailed review of the broker offering it. This will help you to learn more about the company in general and its mobile app in particular. Traders Union experts have prepared the required information to help you make the right choice.

Pocket Option is a broker for novice and professional binary options traders

The payment size for binary options from the broker depends on the trading asset selected. The interest for currency pairs is 32-91%; 36% is for commodities; and 10-40% for cryptocurrencies. The payments for interests for OTC are: 79-92% for currencies; 96% for commodities; and 17-92% for shares. You can simultaneously keep open any number of trading transactions for any available expiration date of the asset class selected on a trading account. The interaction time in normal market conditions is 0-4 seconds.

Clients use the proprietary platform of Pocket Option as a convenient terminal that is available in desktop, mobile, and web versions. For Forex trading, the broker provides the well-known MetaTrader 5 platform. It is possible to open only one trading profile with a broker.

Useful Pocket Option Services: ‌

• The “Market”. This is a specific section of the personal account, where you can buy tools to increase your trading profitability (for example, a bonus on the balance, a promo code for a bonus when replenishing an account, etc.);

• “Lottery of crystals". Active weekend users can take part in the automatic crystals drawing for free. Further, they can be used to purchase various trading bonuses;

• "Crystal mining". This function allows you to get crystals for copying transactions of other traders. For each copied transaction you will get 1 crystal fragment, you can pay them for various trading advantages in the Market;

• “Trading signals”. Recommendations for binary options trading, based on technical analysis of the financial assets’ marketable value.

Binarium — optimal binary options broker for novice traders

Binarium platform functionality allows users to set option expiry times (from 1 minute to 3 months), strike price, and direction higher/lower. Early exit of options, multiplier (an analog of leverage), complex options are not available. You can place 4 charts with different assets and option types on the screen simultaneously, and also choose the chart type (line, zone, candle) with time frames from 5 seconds to 12 hours.

Technical instruments of the platform feature chart and indicator analysis. These include Fibonacci levels, stochastic, moving averages, RSI, ATR, Alligator, and Bollinger bands. There is also one-click trading.

Useful services of Binarium:‌‌

• Trading Room is a menu in the user profile that opens access to the rating of traders. Copy trading is done manually without connecting to the trader’s account, but also at zero fee;

• Deposit insurance / trade insurance. It is a service of the company that provides for full or partial compensation for losses. Only first trades with the volume of up to 33% of the deposit can be insured;

• risk-free trade. This broker’s service is available if a user registers by using a promo code. It allows you to conclude a fixed number of trades without the risk of a loss (the loss is covered by the broker).

CloseOption is a binary options broker with variable payout rates

The binary options payout percentage of CloseOption is determined by the market situation, the asset, and the level of the trader’s user account. The level increases or decreases depending on the amount of the deposit. There are 5 levels available on CloseOption. The Cooper level is assigned to accounts with deposits of $0-$1,000; Bronze level is $1,000-$2,000; Silver level is $2,000-$10,000; Gold level is $10,000-$50,000, and the Diamond level is assigned to accounts with deposits of more than $50,000. The maximum payout percentage for the EUR/USD pair, depending on the level, is 76%, 77%, 78%, 79%, and 91%, while the maximum payout percentage for other assets is 75%, 76%, 77%, 78%, and 79%. With a calm market, payouts can reach up to 95%. The minimum rate for all accounts is 17%.

The CloseOption trading platform is accessible via any browser and requires no download. It can be used from a PC, laptop, or smartphone. At the time of this review, CloseOption did not provide any mobile apps.

Useful CloseOption services:

• Guides for beginners. The company’s website provides detailed instructions on how to use the trading platform, pass verification, select and open an account, and make a deposit.

• List of countries with restricted access. Traders from the listed countries cannot register with a broker and trade through it. The list is updated when the cooperation conditions change.

• Trading contests. Trading contests are held every week. The total prize fund is $3,000. To participate in the contest, users need to deposit $5-10. Although trading is done with virtual funds, the top twenty traders receive real money. 

IQ Mining is a broker with options payouts of up to 95%

More than 20 currency pairs can be traded through IQ Mining. The leverage for the most liquid of them is 1:100. The minimum leverage for cryptocurrencies and stocks is 1:3. Payouts are 20%-75%, but they can be increased up to 95% (the split depends on the market situation). When trading binary options, traders can buy calls and puts with different expiration dates, from one minute to one month. IQ Mining makes it possible to pledge the purchased mining contract and instantly receive funds equal to its value. Thus, traders can increase their equity in manual or automatic trading on different markets.

IQ Mining offers its clients a proprietary platform. It is similar to the platforms of other binary options brokers and is easy to use, so a trader with any trading experience can understand the interface. The IQ Mining web platform works through a browser, thus it does not need to be downloaded and installed on your device. The platform supports two-factor authentication, chart trading, and switching between markets (CFDs and binary options) at the touch of a button.

Useful services offered by IQ Mining:

• Current analytics. The trading platform has fundamental data, market reviews, an economic calendar, and trading ideas. All data is provided free of charge;

• Automatic reinvestment. A service for traders who are engaged in cryptocurrency mining. You can choose what part of the profit will be withdrawn, and what part will be included in the reinvestment.

Intrade Bar is a binary options broker for both beginners and experienced traders.

Intrade Bar has a proprietary trading platform. Its functionality allows users to set the expiration date of options ranging from 1 to 500 minutes, the amount bet, and the acceptable level of risk and profitability. Users can set timeframes ranging from one minute to one day and add indicators to the chart from a drop-down list. Clients of the broker can also select a trading style: Classic or Sprint. The expiration time in traditional trading can be set at the end of each 5-minute candle. When choosing the Sprint mode, the user sets the time individually. The amount and timing parameters of the bet vary depending on the asset.

The web platform’s user-friendly interface allows traders to trade with a single click and open trades with hotkey combinations. The company does not offer mobile trading platforms ( Mobile App ) to its clients because it believes they are unsuitable for serious and professional traders.

Intrade Bar’s useful services:

• The Martin coefficient. Enabling this function allows the system to automatically multiply the bet by the user-specified value.

• Hotkeys. These allow the user to open a trade, as well as change its amount and expiration time, from the keyboard by using a specific key combination.

• Ability to create templates. A function for making personal settings based on indicators.