Binary Options UK - Top 7 Regulated Brokers
TOP binary options brokers UK:
Pocket Option - best for beginners
IQcent - best binary account
VideForex - for copy trading
Binary.com - best regulated
Intrade Bar - with low minimum deposit
Binary options trading in the UK offers both opportunities and uncertainties for traders. While trading binary options is a legal activity in Britain, the regulation and categorization of this market continues to evolve.
This guide provides traders with the essential information needed to navigate the UK binary options landscape safely and successfully. We’ll evaluate the top brokers available to UK traders, comparing factors like minimum deposits, available assets, trading platforms, and regulatory oversight.
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Is binary options gambling or trading?
While regulated as gambling in some jurisdictions, technical analysis, risk management and experience can give traders an "edge" over pure gambling. But outcomes are never guaranteed so risk remains.
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How to avoid binary options scams?
Research brokers thoroughly, stick to regulated brands, verify licenses, check for reviews, avoid promises of unrealistic returns and do not share personal/financial info with unsolicited contacts.
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What is the best day and time to trade binary options?
While there is no definitive answer, volatility is usually higher during active trading sessions. Popular times are London/New York mornings when Asian and European markets overlap, and afternoons when US trading begins. However, trends can form any time.
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How are payouts determined?
The broker's payout percentage is based on probability analysis of the trade outcome. Shorter duration pays out higher as prediction is more difficult.
The Best Binary Brokers In the United Kingdom
| Broker | Min deposit | Leverage | Open an Account |
|---|---|---|---|
5 |
1:1000 |
||
20 |
1:500 |
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50 |
1:500 |
||
5 |
1:500 |
||
10 |
1:1 |
||
10 |
1:500 |
||
50 |
1:500 |
How Do Best UK Binary Brokers Compare?
The five top-rated binary brokers listed above offer some of the best options for binary options trading. Below, we delve into individual profiles of each of the brokers and assess their valuable benefits.
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, Pocket Option has developed a unique trading platform to ensure stable trading for traders and investors.
Pocket Option trading conditions are classic for the binary options market. You can trade currency pairs, stocks, commodities, and cryptocurrencies using a web platform, designed with the inherent characteristics of working with options in mind. The minimum initial deposit for all accounts is $50, but hereinafter the balance should be from $100 to $50,000 (depending on the profile). The minimum bit is $1.
👍 Benefits of Trading with Pocket Option
•Low Minimum Deposit. Pocket Option has one of the lowest minimum deposits in the binary market. The current minimum deposit at Pocket Option is only $5. This is a small price to pay, given the high return rates traders gain from this platform.
•Convenient Platform Interface. Pocket Option has one of the most user-friendly platforms. The broker has a unique and convenient platform interface that allows traders to deposit and withdraw funds with ease.
•Beneficial Trading Conditions. Compared to other platforms, Pocket Option has beneficial trading conditions. This means brokers can trade on the platform safely and enjoy numerous bonuses.
👎 Cons of Trading on Pocket Option
•Offshore Regulations. Pocket Option is not licensed by a reputable regulator. The broker is regulated by the International Financial Market Relations Regulation Center (IFMRRC) in the Marshall Islands. However, Pocket Option has a good reputation that is why it can be considered as a quite reliable broker.
•Customer Support. Customer Support responds within 24-48 hours, which is also too slow.
IQcent
IQcent started as a revolutionary online broker by pioneering the acceptance of cents in trading. The Marshall Islands-based broker was established in 2017, and electronic depositing and withdrawal of funds to and from their platforms. Users can also access trading through the broker’s mobile app.
Depending on the region, you’ll need a minimum deposit of 20 to 50 USD. The account's currency includes USD, EUR, GBP, BTC, and ETH. The trading instruments include CFDs on currency pairs, indices, crypto, gold and silver, and binary options. As such, you can be assured the trading platform offers more binary options in the UK.
👍 Pros of Trading with IQcent
Here are some advantages of using IQcent for your online trading:
•Minimum Deposit of $20. Trading on IQcent requires various deposit amounts depending on the account, with Bronze having the lowest requirement of $20.
•Bonus Programs. IQcent updates its users on new bonus programs where they can supplement their income. You can also earn from attracting and referring new customers.
•Simple to use Web Trading Terminal. IQcent is ideal for novice and experienced users thanks to its simple web trading terminal that doesn’t require installation or compatibility with gadgets.
•24/7 customer support. IQcent offers fast and reliable customer care services that are accessible 24/7. You can reach them through social media or the channels provided on their website.
•Over 100 Assets. You’ll have a wide range of options in which to trade, thanks to IQcent’s over 100 assets at your disposal.
👎 Cons of Trading with IQcent
•Absence of MetaTrader Terminals. If you intend to use a MetaTrader terminal, IQcent is not the ideal choice as it doesn’t provide the service to its users.
•Offshore Company. IQcent is not regulated in the UK but in the Marshall Islands. This status could be a concern to some traders.
VideForex
VideForex is an international trading broker headquartered in the Marshall Islands. It was founded in 2016 and has a presence in Seychelles. The brokers offer users options for trading UK and CFDs using their proprietary platform.
The online trading platform offers more than 100 instruments across various classes, where traders can make investments. These include currencies, metals, indices, shares and commodities. The accepted currencies include USD, EUR, RUB, ETH, GBP, and BTC.
VideForex’s minimum deposit is 50 USD.
👍 Pros of Trading with VideForex
Here are the advantages of using VideForex for trading:
•Trading Demo Account. VideForex offers users a demo account to sharpen and practise their trading strategies before executing them. It is especially important to novice users who have a trading history.
•Allows for Copy Trading. VideForex users can make their trades or can copy that of well-performing users. Copy Trading increases your chances of earning income and learning better strategies from pros.
•1-hour Withdrawal. The withdrawal process for VideForex is brief and simple. You’ll receive your funds within an hour of your withdrawal request!
•24/7 Customer care. Getting in touch with VideForex customer support is also easy and quick. You’ll get assistance at any time on any day of the week. As such, your problems get solved, and you go back to trading.
👎 Cons of Trading with VideForex
Here are the disadvantages of VideForex
•No educational Material. VideForex doesn’t provide educational materials to users. Educational materials are supposed to help the user, especially beginners, to learn the ropes before investing.
Binary.com
If you are looking for a top binary broker with years of experience in the market, then the Binary.com option is your first choice. The broker was founded in 1999 and has survived past the riskiness that existed in the early years. Binary.com trades the highest number of account currencies in the market currently. The currencies include USD, EUR, GBP, AUD, BTC, ETH, LTC, BCH, and UST. The best part is that this broker has a minimum deposit of 5$. Binary.com utilizes five instruments of trade. They include binary options, lookback options, currency pairs, CFDs, metals, and futures.
👍 Pros of Trading with Binary.com
•Minimum Deposit. Binary.com offers one of the lowest minimum deposits in the market. The broker has a $5 minimum deposit charged for new traders. Compared to Binomo, traders may fancy this option considering that it presents fewer entry restrictions.
•The Advantage of Experience. Dealing with an experienced broker is essential. It gives you the confidence to engage with a tried and tested entity. Binary.com has over 20 years of experience in the binary options market. This is a huge added advantage for new traders looking for a safe platform.
•Most Regulated Broker. Binary.com is among the most regulated brokers in the market currently. The broker operates with approvals by MFSA, FinaCom, VFSC, BVI FSC, and Labuan IBFС. Such a robust regulatory framework underscores Binary.com as a credible player in the binary options trading market.
👎 Cons of Trading with Binary.com
•Lacks an Online Chat Platform. Despite Binary.com being the oldest broker in the binary market, it lacks an online chat option. This means that traders' queries and concerns may go for hours without real-time support.
•Lacks a Trust Management Account. Trust management accounts are essential. This is more so for brokerage entities such as Binary.com, which has thousands of traders trading on the platform daily. The lack of a trust management account may contribute to the newbies' negative perception of the broker.
Intrade Bar
Intrade Bar is a Commonwealth of Independent States(CIS) region’s online trading platform that started operations in 2016. The company offers binary trading uk and works with FXCM to deliver accurate currency notes to users. It offers services through the Intrade Bar trading platform, TradingView and an Android mobile app.
The currencies allowed are USD and RUB, with a minimum deposit of $10 to trade. The trading instruments include 21 currency pairs.
👍 Pros of using Intrade Bar to Trade
Here are the advantages of using Intrade Bar.
•Risk Management Function. Intrade Bar’s risk management functions allow you to limit the amount you are willing to lose. It allows you to set the amount for your acceptable losses and gains.
•Low Minimum Deposit. Intrade Bar requires a $10 minimum deposit, making it one of the best trading platforms for someone with a limited budget or who wants to try the platform first.
•Strategies. Intrade Bar offers two different accounts to trade, each with a unique strategy to help you make money. The two strategies are Classic and Sprint trading.
•Demo Account. Intrade Bar offers users a demo account to help them practice and try their strategies before trying them with real money.
👎 Cons of Using Intrade Bar
•Limited Trading Instruments. Intrade Bar only offers currency pairs, disadvantageous to those who want more instruments.
•Poor Customer Service. You cannot access customer support on weekends and past 1700 hours Moscow time.
Binomo
Binomo is among the few brokers who have gained admission to the prestigious "A" class of the International Financial Commission. The rating is a guarantee of quality, reliability, and safety. Traders should focus on such ratings when selecting the top binary brokers in the United Kingdom. Binomo was launched in 2014 and has gained acceptance over time as one of the most trusted brokers.
The minimum trading deposit for Binomo is currently $300. Further, the broker uses USD and EUR as the standard account currencies. Binomo traders in stocks, currencies, indices, classic, and minute. Therefore, traders should be confident about trading with a broker who has such a robust profile.
👍 Pros of Trading with Binomo
•High-Level Platform. Few brokers can match the high-quality users get on the Binomo platform. On top of being a high-level trading platform, Binomo also offers a wide range of asses to the customers.
•High-Value Quotes. Binomo offers the best quotes from the leading news agencies compared to other sections. This is a critical facet, especially for newbies who may not have adequate information on the binary market.
•Excellent Analytical Procurement. Compared to most other binary options brokers, Binomo has one of the best analytical procurements applications. This is an essential plus for newbies looking for a friendly brokerage option.
👎 Cons
•High Minimum Deposit. Binomo is among the few binary brokers with a minimum deposit of $300. The minimum deposit is higher compared to other brokers. This aspect may limit the ability of traders with a low budget to invest.
•Not User Friendly. Although the Binomo platform is functional, it's often hard for traders to get used to operations. The platform presents some technical challenges for first-time users, affecting maximizing investment.
•Complex Withdrawal Procedure. Binomo argues that the current verification procedure for withdrawals is a way of maintaining high-stakes security. While this is an essential factor, it also causes apparent delays in the withdrawal process for first-time withdrawals.
Ninja Trader
Ninja Trader has been a consistent broker in the binary market since 2003. Apart from binary, the broker also specializes in the futures and futures options market. The broker has the license to operate in the United Kingdom. The current minimum for binary needs is $50. Ninja Trader accepts accounts in Euros and USD. Currently, Ninja Trader focuses on the Derivatives market and Binary trading. The NFA regulates the broker.
👍 Pros of Trading with Ninja Trader
•Robust Proprietary System. Ninja trader uses an algorithmic trading system supported by more than 850 proprietary systems.
•Quick Withdrawals and Deposits. In contrast to other brokers, this option guarantees fast and easy deposit and withdrawal processes.
•Proprietary Trading platform. The broker has a unique proprietary platform. This is a key plus in the derivative markets.
👎 Cons
•Lacks phone and chat contacts on the main website. This can be frustrating for traders who want to communicate with the broker.
•Not suitable for beginners
Compared to other platforms, Ninja trader requires a trader with a deep understanding of derivatives and the rules involved when dealing with proprietary trading platforms.
Binary Trading in the UK - How Does it Work?
Binary options in the United Kingdom are Legal and regulated. Therefore, traders investing in binary options should not worry about engaging in illegal activity. The only difference is that unlike other financial markets in the country, such as forex, binary options trading is regulated by the UK gambling commission. Most of the financial markets are governed by the Financial Conduct Authority. The United Kingdom currently categorizes forex as a form of gambling. Its important for traders to understand this fact before investing.
Is Binary Trading Legal in the UK?
While binary options in the UK are legal, there have been varying interpretations of the decision by FCA to decategorize this financial activity. There's no existing law that outlaws binary trading in the country. However, the government is yet to provide a clear roadmap of the legal and regulatory framework governing binary markets.
How To Choose a Binary Broker in the UK?
Many newbies in the binary market wonder how to go about the process of selecting a reliable binary broker.
Here are some steps to consider:
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Check if the broker accepts traders from your country
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Double-check if the broker is regulated
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Confirm that the broker has bonus offers
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Keep in mind the payout percentages
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Pay attention to the initial minimum deposit
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Ensure that they have prompt withdrawals
These six steps are essential before settling for a binary options broker in the UK. Due diligence should be at the center of the selection process.
Best Binary Trading Alternatives
Binary options trading in the UK is a legal undertaking. However, this market comes with loads of uncertainties. The high-risk market also shows signs of weakness, including that the FCA does not regulate it. It would be prudent option to consider a safer option. Forex trading is a better, less risky, and advantageous option. In the UK, the Financial Conduct Authority highly regulates the forex market. Here're some reputable forex brokers you can consider.
Admiral Markets UK
The broker was founded in the year 2001. Admiral is regulated in two tier-1 and two tier-2 jurisdictions. This makes it one of the safest options in the market. Further, the broker has accreditation from the FCA as a regulated broker.
FX Pro
The broker was founded in the year 2001. Above being regulated by the FCA, CYSEC, FSA, and SCB, this broker has also gained international accreditation as a reliable international broker. It also ranked top for commission on fees in the United Kingdom.
Interactive Brokers
Is among the oldest forex brokers in the United States. The broker ranks as one of the best and most professional forex platforms in the UK. It's regulated by multiple regulators, including FCA. The broker has a $0 account minimum and is safe for traders at all levels.
Summary
The UK binary market is still in the nurturing stage. While rules governing it are in place, it still lacks a proper framework to thrive. These five binary options the UK discussed above are safe and reliable for traders. However, given the uncertainty around the current and future of binary trading, it's important to consider due diligence before settling for a specific option. It's also highly recommended that you think of forex trading instead of binary trading. The three forex trading options provided are reliable forex brokers you can rely on.
Methodology for compiling our ratings of binary options brokers
Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.
Key aspects of the assessment include:
Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.
Other factors like brand popularity, client support, and educational resources are also evaluated.
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Team that worked on the article
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).