Best Binary Options Trading Platforms for 2024 - Top 5

Review of the PocketOption binary broker

Pocket Option Review

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PocketOption is a binary options trader and Forex broker that has been operating since 2017. Currently, more than 10 million traders from 95 countries of the world use its services. The company is regulated by FMRRC. PocketOption offers traders over 100 trading instruments, including currency pairs, commodities, stocks, cryptocurrencies, and CFDs.

Clients of this broker note the high amount of income, the convenience of the trading platform, and the instant withdrawal of funds to e-wallets. A feature of the PocketOption terminal is the presence of a wide variety of boosters that expand trading opportunities, thereby increasing the chance of making a profit.

As of 2024, the size of payments in PocketOption reaches 89% of the bet. Not only independent but also social trading is available. The broker credits a welcome bonus of 50% of the initial deposit, provides various promotional codes and cashback up to 10%. Potential clients can practice trading options or Forex on demo accounts with virtual currency.

PocketOption’s commissions & fees

PocketOption is one of the top binary options brokers of 2024 because its clients do not pay any trading fees. Also, the company does not withhold fees for making a deposit or withdrawal of funds. Traders registered with a broker save a lot on non-trading commissions since they only pay fees from payment systems. By default, PocketOption opens swap-free accounts for all its clients.

Key trading tools of the PocketOption broker

As of 2024, this binary broker provides a wide range of assets (exchange and OTC) with different payout percentages. PocketOption clients can make transactions using over 140 financial instruments.

PocketOption trading platform

PocketOption is a classic binary options broker, therefore the author's platform is designed taking into account the specifics of this kind of trading. Its clients can make transactions in a web terminal (without installing it on a PC or smartphone) or in mobile applications that are compatible with Android and iOS devices. Also, PocketOption has a PC platform. All terminals of the company make it possible not only to trade independently but also to copy transactions of other traders through the Social trading tab. In 2020, PocketOption added a new feature to their platform — Forex and CFD trading. Thanks to this, the broker's clients can make transactions directly in the PocketOption terminal using the Metatrader 5 software.

• Market — a store of trade benefits;

• chats — general chat in English and chats in users' regional languages;

• channels — current news, analytics, and current promotions.

How to open a trading account with PocketOption

To open an account with the PocketOption binary broker, you need to go to its official website and fill out the registration form. You can also use your personal Facebook and Google profiles to register. The company's website is presented in 23 languages, so even a novice trader has no problems at the stage of opening an account. The minimum deposit for all account types is $5. At the same time, accounts differ in the size of the balance that must be maintained to be able to make transactions. Access to Forex trading is available only after the total account balance exceeds the $1,000 mark.

Deposit and withdrawal of funds from PocketOption

The PocketOption binary broker does not charge fees for making a deposit or withdrawing funds from accounts. Note that e-wallet payments are instant. The minimum deposit is $5. The minimum withdrawal amount is $10. You can replenish the balance and withdraw funds through the menu of the personal account "Finance".

Review of the QUOTEX binary broker

QUOTEX Review

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Quotex is an online broker offering binary and digital asset trading run by Awesomo LTD, based in Seychelles. It was formed in 2019 and is accessible in different countries worldwide. With easy processes, the platform allows traders to deal with various trading assets, such as cryptocurrency and indices and provides multiple banking options.

You'll receive 24/7 customer care and can use the platform for as low as $10. Your account is also secured with two-step authentication.

QUOTEX fees and commissions

QUOTEX, like most top trading providers of 2024, doesn’t charge users for using the platform. The user doesn’t have to part with any withdrawal or deposit fees, meaning all transactions with QUOTEX are free. You can also convert your funds into a different currency on the platform at no cost.

Important Note: While QUOTEX charges no fees and commissions, users may incur transaction costs from their bank or chosen financial service provider. The charges may vary between 1% and 5% of the transaction amount.

QUOTEX trading instruments

QUOTEX provides traders with over 40 trading instruments. Users can trade 23 currency pairs, 14 Indices, cryptocurrency and Stock.

QUOTEX trading platform

QUOTEX uses a proprietary web-based platform to provide services to its multiple clients. The platform is accessible through a website, meaning there are no required downloads. You can also access the platform through their mobile application available for Android users.

The trading platform is easy for beginners and experienced users, with a chart showing how instruments perform in the market. The mobile application and web versions also have similar layouts and processes to make using any of the two easy.

Opening a QUOTEX trading account

Opening a QUOTEX trading account is a simple process that takes about 5 minutes. Here are the steps you need to take.

Some of the information you’ll need to provide include your email, currency and password. You’ll also access a demo account that helps you practise your strategies before using them in real trading.

You’ll also need a minimum $10 deposit to use your account.

Deposits to and withdrawals from QUOTEX

As one of the best binary options brokers for 2024, QUOTEX provides its users with several ways to deposit and withdraw funds from the platform. The methods are easy to use, and the amount you pay per transaction depends on the service provider.

QUOTEX’s common payment systems include:

Review of the IQcent binary broker

IQcent Review

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IQcent is a trailblazer in the trading platform industry as the first ever to accept cents in trading. The provider binary options platform was established in 2017 and is headquartered in the Marshall Islands. It is beginner friendly and offers multiple binary options, CFDs, and over 100 assets.

IQcent allows users to trade all week, including weekends and provides top-notch customer services for those in need. Users can trade various instruments, including Forex, stocks, cryptocurrency and commodities, with a minimum size of $0.01. You'll get paid through one of the over 10 payment methods they provide.

IQcent fees and commissions

IQcent doesn’t request a fee or commission for trades with currency pairs, indices, or metals. However, according to the user agreement, the trading platform provider can charge a fee for opening a cryptocurrency CFD position. If the user is not using borrowed funds, the commission ranges between 1 and 2.5 of the transaction amount.

Traders aren’t charged for withdrawals or deposits, but the service provider might.

IQcent trading Instruments

IQcent offers traders over 100 assets through binary options and CFDs. The trading instruments include:

IQcent trading platform

IQcent provides a proprietary, web-based trading platform with numerous features to make trading simple and fast. Traders don’t need to download the platform and will access user-friendly features ideal for novice traders.

The IQcent platform offers customisable charts with six-time frames (M2, M10, M30, H1, H4, D1). You’ll also access a candlestick to check prices and drawing tools for tick charts. You’ll also access inbuilt indicators that help you make informed decisions.

The platform also provides the latest news, where you can catch up with the industry's happenings. You’ll also access trading history, deposit funds, and copy trade with a few steps.

Opening an IQcent trading account

IQcent offers users 3 trading accounts and a demo account:

Opening an account is as easy as heading to their website and signing up through the Sign Up logo. You must provide some useful information to open an account.

Deposits to and withdrawals from IQcent

The minimum a trade can deposit to IQcent is $250, and the minimum withdrawal is $20. While no depositing charges exist, a 5% fee applies for credit and debit card withdrawals.

IQcent provides the following payment methods for depositing and withdrawing:

Review of the Binarium binary broker

Binarium Review

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Established in 2012, Binarium is a binary options broker that provides services to international clients. The platform's creators ensured that it was simple to use to allow novice traders a smooth experience.

Binarium head offices are situated in Saint Vincent and the Grenadines. It's ideal for beginners who wish to develop their trading careers, starting with binary options that are easier to master than foreign exchange.

The broker also uses European banks to hold the client's funds, meaning they are separate from the broker account.

Binarium fees & commissions

Binarium ranks as one of the top binary options platforms of 2024 thanks to its 0 fees for deposits and absence of hidden fees. The broker compensates traders for all commissions of payment systems on deposits and withdrawals.

However, the trader's trading volume at the withdrawal time isn’t more than double the deposit. If the amount is more, Binarium won't cover the withdrawal fee of 10% of the withdrawal request.

Binarium trading instruments

Binarium offers some of the market's largest amounts of trading instruments compared to some of its competitors. The available instruments include:

Binarium trading platform

The Binarium trading platform is designed to help novice traders start their trading journey smoothly. The high-quality and easy-to-use platform provides a tutorial video to guide users on using the Binarium platform after signing up.

The platform is accessible through web browsers and application APIs. There is no desktop application meaning that web users will need no downloads.

The key features of the Biarium trading platform include the following:

Opening a Binarium trading account

Binarium offers three accounts, 2 trading accounts and a demo account aimed at helping the users practice their strategies and learn how to use the platform before starting real trading.

The signing-up process is simple and fast. You’ll provide some information to access the platform, including your email address and password. You’ll also provide your full name and phone number to access all the broker tools.

Binarium requires traders to make a minimum deposit of EUR 5 / USD 5 / UAH 150 / RUB 300.

Deposits to and withdrawals from Binarium

Depositing and withdrawing funds from Binarium is simple and cost-free- the broker compensates traders for the cost of payment systems. The payment methods allowed include:

Review of the Binary.com binary broker

Binary.com Review

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62% of retail investor accounts lose money when trading CFDs with this provider.

The Binary broker is a subsidiary of the Regen Markets Group, founded over 20 years ago. Binary is the oldest binary broker in the Forex market and is controlled by five international regulators, including the MFSA and SVG FSA. As of 2024, Binary conducts more than 1 million transactions per day, the company is widely recognized for the fastest speed of all types of transactions. It has two of its trading terminals and also allows traders to trade through MT5.

Binary.com’s fees & commissions

Like all the best binary brokers in the Top 5 for 2024, Binary does not charge a fee for most operations because the exact value of the fee for the transaction in each case is determined individually. Therefore, it is impossible to calculate it in advance.

Binary.com’s trading instruments

The broker offers several dozen trading instruments including 25 currency pairs, stocks, indices, and commodities.

Binary.com’s trading platform

Among the best binary brokers for 2024, Binary is the only broker offering three trading platforms at once, while two of them are proprietary.

• SmartTrader.It opens in a browser tab that has visual functionality and a humongous array of analytical instruments, including Scholastic, MA, RSI, etc.

• WebTrader.Technically, it acts as a functional analog of SmartTrader but is aimed at traders who work with a large number of instruments simultaneously. WebTrader’s flexible interface settings, make it easier to track multiple instruments at once.

• MetaTrader 5 (MT5).The peculiarity of working through this terminal is that the trader does not work directly with MT5, but through an auxiliary advisor, which is downloaded from the broker's official website. Otherwise, this is the standard version of the popular platform.

How to open a trading account in Binary.com

As applied to the opening of accounts, Binary is unique in that it offers a special type of account — Volatility Indices. Trading on this account is carried out on a synthetic asset created by the company itself. Work is carried out only on weekends, replenishment in EUR is possible, making it a demo account with a virtual deposit.

Deposit and withdrawal of money from Binary.com

Binary.com is one of the best binary brokers from the top five for 2024, Binary offers the largest number of options for depositing and withdrawing funds from a Binary.com account into your account. All operations are carried out in a few clicks through the Trader's personal account on the website.

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