Best Binary Options Brokers in Romania

The top 5 binary brokers in Romania

The convenience of trading with an online binary broker is among the factors that have made binary trading so well-liked globally. Because there are virtually no reliable local binary options brokers in Romania, traders can use offshore binary brokers without any restrictions. While trading with regulated offshore brokers is available to traders from Romania, choosing a reliable broker is crucial.

Below are 5 of the best binary brokers in Romania you can trust:

Pocket Option - independent trading and the ability to mimic the actions of profitable traders

Pocket Option Review

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PocketOption is a binary options trader and Forex broker that has been operating since 2017. 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 2023, 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.

QUOTEX - high security standards; comprehensive online trading platform

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

IQcent - 24/7 trading; Rollover (extends the transaction time)

IQcent Review

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IQcent is the premier online trading platform for retail clients looking to make a mark in the investing world. IQcent offers binary options and Contract for Difference (CFD) trading opportunities across several asset classes, such as Forex, stocks, commodities, and cryptocurrencies. The minimum trade size is just 0.01 USD/EUR, and traders can leverage up to 1:500 with CFDs.

In addition to various financial instruments, IQcent also provides an extensive suite of payment methods with more than 10 supported options. The minimum deposit amount may vary depending on the type of account but goes from as low as $10 to $250 and $1,000. However, traders can't deposit lower than (USD/EUR) 5,000 for direct bank transfers.

IQcent offers an intuitive and useful proprietary web-based trading platform with several in-built indicators essential for making informed trading decisions, including momentum, relative strength, and average range. Depending on your needs and preferences, IQcent offers three types of binary options: turbo options, intraday options, and long-term options.

Binarium - accessible trading platform for all devices

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.

Binary.com - 100+ tradable assets; 24/7 trading and support

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 2023, 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 offers a wide range of features, including Forex trading, commodities, crypto trading, and more. What makes Binary.com stand out is that you can get started with a minimum deposit of just $5. This broker also provides an automated trading system that helps you to make profitable trades with minimal effort.

Is binary trading legal in Romania?

Yes. Binary options trading is a legal means of generating income in Romania. The financial authorities in Romania do not forbid binary trading, so it is acceptable for Romanian citizens. The financial markets in Romania are regulated by the Romanian National Securities Commission (CNMVR). Although binary options are not regulated, the CNMVR permits trading with the best brokers in Romania that are subject to EU regulation.

Trading binary options with regulated brokers is necessary, considering the growing number of scam binary options companies. Many traders have claimed that these dishonest brokers ask them for deposits, and then after they send the funds, either they are expelled or the platforms are closed.

The scandalous activities of these unlicensed brokers led to the raids of many by the Romanian regulators. Therefore, while the Romanian authorities continue to raid the offices of these shady brokers, protect your finances by trading with the best brokers in Romania.

Are international binary brokers legit in Romania?

As a MiFID signatory, Romania allows traders to use foreign binary options brokers. Therefore, foreign binary brokers are legitimate in Romania. Because it is easier and more secure to trade with licensed offshore brokers, many professional traders in Romania prefer doing so. Changes to Romania's legal and regulatory landscape may have an impact on foreign binary options brokers operating there.

While international brokers are excellent options for binary trading, some can be scammers. However, traders need to be aware of some unethical binary broker scams. Therefore, be sure to do the following before selecting any international binary broker in Romania:

• 1

  Check to see if the broker provides polite withdrawal policies, precise risk disclosure statements, open terms and conditions, qualified customer support, educational resources, and educational materials

• 2

  Check reviews, user suggestions, and customer comments to learn about the broker's reputation

• 3

  Recognize the Romanian legal framework for trading binary options

How to choose the best binary broker in Romania?

While this article lists up to five top binary options brokers, picking any of these brokers at random without checking the services they offer is not advised. It is best to review each of these brokers' services before choosing one because traders have different mindsets, goals, and trading strategies. And some brokers' services and offerings are naturally suited to certain types of traders.

However, to choose the best binary brokers in Romania, prepare to check the factors below:

1. Regulation and reputation

To avoid shady binary brokers, make sure the broker is licensed. Therefore, before using a binary trading platform, confirm that the broker is overseen by the FCA, ASIC, CySEC, and FSCA.

2. Account types and features

Check the account types and minimum investment requirements on the binary trading platform. Verify information on accounts for retail investors, including initial deposits, commissions and spreads, margin requirements, leverage trading, and other features.

3. Trading platform

Another element that traders need to look at is the trading platform that a binary trading broker integrates. Verify whether the trading platform has the essential resources for binary trading, such as an economic calendar and technical analysis tools.

4. Customer support

Verifying that the broker offers valuable customer support is another crucial task. Check the support's responsiveness to questions, availability (trading hours), and the level of assistance provided.

5. Deposits and Withdrawals

Traders should carefully consider the time it takes to process withdrawal requests, the supported currencies, and the accepted payment methods.

Note:

Most of the top binary options brokers offer first-rate training materials and demo accounts. So prospective binary traders should ensure that the binary trading app they intend to select offers these features.

Do I pay trading taxes in Romania?

Profits from foreign exchange transactions and other types of trading are subject to taxes in Romania. The capital gains tax is calculated as a portion of the profit that is to be distributed, and in Romania, this can be anywhere between 5% and 10%.

How much can I earn in binary trading?

Traders are likely to earn between 75% and 80%; some brokers also offer about 90% of the payout, so this varies depending on the broker. When trading binary options, your earnings can vary depending on your investment and trading frequency. Among the best binary brokers in Romania, some require a $5–$10 minimum deposit to start binary trading. Some traders can choose to begin trading at $1.00 and only invest 1% to 2% of their capital.

Tips for successful binary options trading in Romania

Although binary trading is the easiest among other trading endeavors, it has been banned more in the industry. This is because of the rate at which traders lose their assets in trades and the growing number of scam binary brokers, making it a high-risk endeavor. So, while it is the fastest trade that can make you rich in a very short time, it can make you go bankrupt in a short time.

Trading with the top binary brokers in Romania is not negotiable, especially for traders just beginning their trading journey. Frankly, the first piece of advice for profitable binary options trading should be to only trade with reputable brokers.

Below are other tips for binary trading success in Romania.

Top 10 pointers for profitable binary options trading:

• 1

  Learn about the various binary options strategies, their mechanisms of operation, and any potential risks. Reading books or watching tutorial videos on binary trading will help you become familiar with the market's fundamentals

• 2

  Before you begin trading with real money, use the demo accounts provided by the top binary options platforms to get some practice

• 3

  Maintain your composure, stick to your plan, and refrain from impulsive trading. This demands that you focus on your long-term goals rather than letting market fluctuations redirect you

• 4

  Consider including a risk and money management plan in your trading strategy

• 5

  Stay out of positions when markets are volatile, and limit your trading to times when specific technical indicators are aligned

• 6

  Avoid all outside distractions and maintain your attention on your trading strategy. Avoid trading binary options if you have other activities that demand your mental subordination

• 7

  Choose brokers who take little to no commission

• 8

  Keep a positive attitude and focus on your achievements. Regardless of the profit, acknowledge each profitable trade and use it as inspiration to continue trading

• 9

  When a trading opportunity that you have not had enough time to thoroughly analyze presents itself, learn to be patient and restrain your urge to open a position

• 10

  Keep up with news about various asset-related topics; it helps traders improve their ability to anticipate how an asset will trade