Mobile apps are a modern solution for trading in financial markets. They can be used to work at any place and any device: a smartphone, tablet, etc. However, it is important to choose the best app in order to ensure that your trading successful. Analysts at the Traders Union prepared an article telling readers about the Best Binary App for Android 2024. We compared the apps and gave them our scores.
Pocket Option is an unregulated broker focused on cooperating with professional traders who do not need training or additional bonuses.
Binary is the right broker for those who appreciate a variety of financial instruments. Due to the low minimum deposit, the company is suitable for novice traders who do not want to risk large amounts of money.
The IQ Option broker is for novice traders who are not yet ready to trade on Forex but would like to get their first trading skills.
Binarycent broker accommodates trading in binary options and is focused on cooperation with professionals, as evidenced by the high level of the minimum deposit and the lack of training materials.
Daxbase is a broker for those who want to try their hand at binary options trading. The web platform offered by a broker allows its clients to make the easiest put/call trades without incurring additional fees. The maximum profit amount is 90% of the trade amount.
Best Binary App for Android 2024
| Pocket Option | Binary.com | IqOption | Binarycent | Daxbase | |
|---|---|---|---|---|---|
|
Trading platform |
MT5, Web, Mobile |
WebTrader, Mobile |
IQ Option |
Webterminal |
Proprietary browser platform |
|
Min deposit |
$5 |
$5 |
$10 |
$250 |
$250 |
|
Trading instruments |
currency |
indexes, Forex, goods, stock, random index |
Options, stock, Forex, Crypto, Commodities, indexes, CFDs on ETFs |
currency |
Cryptocurrencies, Commodities, Stocks, indices |
|
Signals |
No |
No |
No |
No |
No |
|
Analytical support |
No |
Yes |
Yes |
No |
No |
|
Training |
No |
Yes |
Yes |
No |
No |
|
Additional tools |
Yes |
Yes |
Yes |
Yes |
Yes |
1
Best Binary App for Android 2024 - Pocket Option
The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, PO TRADE BROKER has developed a unique trading platform to ensure stable trading for traders and investors.
👍 Advantages of trading with Pocket Option for traders:
•low threshold for entering the market; the first deposit starts at $5;
•social trading platform generates passive income.
👎 Disadvantages of Pocket Option for traders:
•not licensed by any reputable regulator;
•to trade Forex through MetaTrader 5, you need to deposit at least $1,000;
•support service responds within 24-48 hours, which is also too slow.
2
Best Binary App for Android 2024 - Binary.com
Deriv (Binary.com) offers trading services with a focus on derivative products like binary options and CFDs. The company has a history that dates back to 1999 and is regulated by several entities including the Malta Financial Services Authority (MFSA).
The broker also offers competitive fees and a low minimum deposit, making it accessible to traders with varying budget sizes. Flexible trade duration varies from 1s to 365d.
Deriv Multipliers blend the potential gains of leveraged trading with the controlled risk associated with options. This trading type allows traders to increase their market exposure while managing risks with built-in features like stop-loss and take-profit orders. Multipliers provide a balance between high-risk trading and traditional instruments.
👍 Advantages of trading with Binary.com for traders:
•extensive experience (the company has been operating for more than 20 years) and the availability of a regulator;
•the minimum amount for replenishing and opening a bid is $5 and $1, respectively.
👎 Disadvantages of Binary.com for traders:
•online chat for support is not available on the company's website;
•no cent account;
•sometimes there are platform failures;
•there is no trust management accounts;
•sometimes there are delays in the withdrawal of funds;
•some clients have difficulties with the registration process;
•sometimes technical support takes a long time to respond.
3
Best Binary App for Android 2024 - IqOption
The company was founded in 2013 and today is among the leaders in this genre thanks in large part to its proprietary platform. In 2017, the broker was awarded the highest award by the Communicator Awards.
👍 Advantages of trading with IqOption for traders:
•convenience from a visual narrative, the platform is user-friendly for novice traders;
•one of the highest levels of remuneration in the segment of binary options.
👎 Disadvantages of IqOption for traders:
•a limited number of timeframes in comparison with MT4, without the possibility of setting non-standard intervals;
•the online platform is heavy on your computer’s RAM;
•there is a shared offer, not all trading conditions are displayed on the website and in the personal account. You have to investigate them either through trial and error or with the help of support services;
•there is no possibility of adding additional indicators, no algorithmic trading is provided;
•delays in cash withdrawal.
4
Best Binary App for Android 2024 - Binarycent
Binarycent is a broker that has been operating since 2015 and is focused on traders who prefer binary options trading. You are offered three types of accounts and the opportunity to test the trading conditions of the broker on a demo account. During its years of service, the broker was awarded the Best Broker 2015 award, according to Fair Binary Options.
👍 Advantages of trading with Binarycent for traders:
•quick and easy registration procedure;
•quick withdrawal of funds in any convenient way.
👎 Disadvantages of Binarycent for traders:
•the broker's activity isn’t licensed or regulated;
•no training materials;
•high level of minimum deposit;
•the trader shall verify the account to carry out transactions;
5
Best Binary App for Android 2024 - Daxbase
The Daxbase broker provides a simple and functional web platform that allows clients to trade various CFDs and binary options. Daxbase is distinguished from other brokers by its wide range of assets, high leverage, and availability of bonus programs. Payments for binary options trades reach up to 90% of the bet amount. The amount of the welcome bonus depends on the deposit amount and is either 20%, 50%, or 100%. Daxbase accepts payments via bank card, e-wallet, and bank transfer. Clients can also deposit and withdraw cryptocurrencies. The web platform allows traders both independent and automated trading based on a trader’s signals.
👍 Advantages of trading with Daxbase for traders:
•a wide choice of fiat pairs and cryptocurrencies;
•high leverage offered by the broker;
•no fee for binary options trades;
•access to payment systems that do not charge fees for depositing and withdrawing funds;
•a universal platform for trading options and making Forex trades.
👎 Disadvantages of Daxbase for traders:
•the minimum deposit of $250 is too high for most novice traders;
•the commodities available are limited to gold, copper, and Brent crude oil.
•strict terms for processing bonuses accrued for making the first deposit.
Best Binary App for Android 2024 – Security for Traders
Broker’s security and reliability are a priority factor for choosing a mobile app to trade in financial markets. TU analysts performed an analysis of the Top 5 brokers and published the results of their research below.
Pocket Option - Security for Traders
Security (Protection for Investors)
Information
Pocketoption.com is part of Infinite Trade LLC regulated by MISA (Mwali International Service Authority), license number T2023322.
Learn more about safety Pocket Options here.
👍 Advantages
- Availability of a compensation fund covering the losses of traders in case of bankruptcy of the company or force majeure situations
👎 Disadvantages
- The customers aren't protected from a negative balance
- Go through verification to deposit and withdraw funds
Binary.com - Security for Traders
Security (Protection for Investors)
Information
Several organizations act as regulators of the broker's activities, namely: Labuan Financial Services Authority (MB/18/0024), BVI Financial Services Commission (SIBA/L/18/1114), Vanuatu Financial Services Commission (303043), and Malta Financial Services Authority (IS/70156).
Thus, the company carries out financial activities following the regulations and requirements of the regulators. This means that the rights and obligations of both the broker and its clients are clearly defined. The settlement of disputes and the safety of clients' funds are also guaranteed.
👍 Advantages
- Client funds are held separately and are not available for use by the broker
- Controversial issues are resolved with the involvement of an independent arbitrator
- The rights and obligations of the client, as well as the broker are written in the Agreement
👎 Disadvantages
- Regulators do not consider claims of private traders who trade in small amounts
Binarycent - Security for Traders
Security (Protection for Investors)
Information
The Binarycent broker is not accredited or regulated by any of the authorities and that makes trading here risky.
The broker provides for data security through the use of SSL (secure sockets layer) technology, which encrypts customer data and protects it from hacking. The Binarycent broker keeps client funds in a European bank, and also it is verified by the Visa MasterCard Secure Code service.
👍 Advantages
- The broker is verified by Visa Inc. and Mastercard Inc.
- Using network data encryption protects traders' personal information
👎 Disadvantages
- There are no regulatory authorities
- No documents confirming the verification from Visa Inc. and Mastercard Inc.
Daxbase - Security for Traders
Security (Protection for Investors)
Daxbase is managed by DX Base Ltd, a company registered in the Marshall Islands. It is not licensed to engage in brokerage activities.
To protect the funds and personal data of clients, Daxbase uses 256-bit secure SSL processing, 3D Secure, as well as SecureCode for Visa and MasterCard cards. Traders’ deposits are stored in one of the banks in Europe.
👍 Advantages
- High leverage
- Wide choice of payment methods, including cryptocurrencies
- No requirements for trading or investment experience
👎 Disadvantages
- Disputes are settled bilaterally — broker versus trader
- Financial transactions by Daxbase are not monitored by regulators
- In the event of the company’s bankruptcy, the client will be unable to receive compensation.
Summary
In the process of choosing the Best Binary Trading App for Android 2024, TU experts analyzed features of 5 different brokers. Now you can learn the final score given by the analysts to brokers. We evaluated all apps based on specified criteria.
| Pocket Option | Binary.com | IqOption | Binarycent | Daxbase | |
|---|---|---|---|---|---|
|
Overall score |
6.87 |
8.11 |
6.44 |
5.49 |
6.48 |
|
Execution of orders |
9.52 |
9.82 |
9.37 |
7.97 |
6.35 |
|
Investment instruments |
4.29 |
9.54 |
1.25 |
1.29 |
0.95 |
|
Withdrawal speed |
9.64 |
10 |
4.93 |
4.97 |
8.24 |
|
Customer Support work |
4.38 |
5.41 |
6.85 |
6.77 |
8.29 |
|
Variety of instruments |
6.01 |
5.12 |
10 |
8.73 |
8.63 |
|
Trading platform |
7.38 |
8.76 |
6.24 |
3.21 |
6.42 |
|
|
|||||
|
|
|
|
|
|
|
- Best Stock App for iOS 2024 - TOP 5 Comparison
- Best Online App for Long Term Investment 2024 - TOP 5 Comparison
- Best Forex App for iOS 2024 - TOP 5 Comparison
- Best Futures App For Beginners 2024 - TOP 5 Comparison
- Best CFD App for iOS 2024 - TOP 5 Comparison
- Best Binary App For Short Selling 2024 - TOP 5 Comparison
- Best Paper App for iOS 2024 - TOP 5 Comparison
- Best Mobile App For Fractional Shares 2024 - TOP 5 Comparison
- Best Futures App for iOS 2024 - TOP 5 Comparison
- Best Swing App for iOS 2024 - TOP 5 Comparison
- Best Online App For Fractional Shares 2024 - TOP 5 Comparison
- Best Futures App for Long Term Investment 2024 - TOP 5 Comparison
- Best Mobile App For Swap-Free Trading 2024 - TOP 5 Comparison
- Best CFD App for Penny Stock 2024 - TOP 5 Comparison
- Best Mobile App for Penny Stock 2024 - TOP 5 Comparison
- Best CFD App for Android 2024 - TOP 5 Comparison
- Best Options App for iOS 2024 - TOP 5 Comparison
- Best Mobile App For Short Selling 2024 - TOP 5 Comparison
- Best Online App For Short Selling 2024 - TOP 5 Comparison
- Best Forex App For Short Selling 2024 - TOP 5 Comparison
- Best Forex App for Android 2024 - TOP 5 Comparison
- Best Swing App For Swap-Free Trading 2024 - TOP 5 Comparison
- Best Copy App for iOS 2024 - TOP 5 Comparison
- Best Forex App for Penny Stock 2024 - TOP 5 Comparison
- Best Futures App for Android 2024 - TOP 5 Comparison
- Best Bitcoin App For Day Trading 2024 - TOP 5 Comparison
- Best Stock App For Short Selling 2024 - TOP 5 Comparison
- Best Mobile App for iOS 2024 - TOP 5 Comparison
- Best Forex App For Swap-Free Trading 2024 - TOP 5 Comparison
- Best Stock App for Long Term Investment 2024 - TOP 5 Comparison
FAQ
Do all brokers offer mobile apps for iOS and Android?
Unfortunately no. Some companies focus only on one operating system. Before opening an account make sure that the broker offers the version for your operating system.
If a broker has several platforms, does it mean it offers several apps?
No. If a broker has several trading platforms, there is either an option to switch between them in the app, or only one trading platform is available (usually the proprietary one).
Does the functionality of apps differ from that of the web version?
It depends on the broker. A good quality mobile app replicates the functionality of the web version either fully or as much as possible.
Are there updates for the apps of brokers?
Yes. Mobile apps of brokers are regularly updated and it is very important to update them in the view of proper operation of services.
Related Articles
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.