Top 10 binary options brokers for successful trading

What Are Binary Options?

Binary options are a method to make money on the financial markets. The key advantages of these instruments lay in the simplicity of work and in the possibility to get high, and most importantly, known-in-advance profits from your transactions. All you have to do is find the right way to determine how the price of a certain asset (currencies, oils, or stocks) will change during a specific time.

But like many trading methods binary options may have some disadvantages. For example, if you fail to correctly determine the changes in the exchange rate of the assets, then you will lose your bet.

Novice traders can try binary options copy trading. With this tool, you will earn your first profit and be able to follow experienced traders.

Best binary options brokers

1

9.4/10

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Your capital is at risk.

Minimum deposit:

$5

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CloseOption is a binary options broker that was registered in Georgia in 2013 and operates under the supervision of the National Bank of Georgia. It provides its clients with trading in pairs with fiat currencies and cryptocurrencies through a proprietary web platform. CloseOption’s services are used by over 2 million traders worldwide, including the United States. The broker specializes in active options trading but also offers an affiliate program to generate passive income. More than ten payment systems are available to CloseOption clients for depositing and withdrawing funds, with the majority of them allowing fee-free transactions.

Pros/Cons

•licensed by a reputable financial regulator;

•loyal first deposit of $5;

•size of payments increases as trading volumes increase;

•money prizes for trading with virtual funds;

•many ways to contact technical support that operates 24/7.

•a small range of trading assets;

•clients cannot trade with leverage;

•payments on accounts with small deposits are lower than those of competing brokers.

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2

9.2/10

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Minimum deposit:

$250

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Nadex is a binary options broker working mostly with US and EU traders. The company was founded in 2009, officially registered in the State of Illinois, and regulated by US law. The broker's regulator is the CFTC (Commodity Futures Trading Commission). The main competitive advantage of Nadex is its completely transparent work, controlled by one of the most reputable regulators in the world. A distinctive feature of the broker is unique binary options products and direct access to the US exchanges.

Pros/Cons

•regulation by CFTC;

•binary options toolkit is easy to use.

•the broker works through an intermediary from the EU;

•commission for each trade is US$1;

•limited range of offered products (3 types of options);

•all information on the site is in English only;

•complex verification procedure that meets the requirements of US legislation;

•high entry threshold - $250;

•there is a flat fee for withdrawing money - $25.

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3

9.1/10

Go to broker

Your capital is at risk.

Minimum deposit:

$5

Review

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.

Pros/Cons

•low threshold for entering the market; the first deposit starts at $5;

•social trading platform generates passive income.

•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.

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4

8.9/10

Go to broker

Your capital is at risk.
62% of retail investor accounts lose money when trading CFDs with this provider.

Minimum deposit:

$5

Review

Binary.com (Deriv) is one of the first brokers to offer binary options trading. The company was founded in 1999. Since then, despite the riskiness of options trading, it has not lost its popularity. However, the broker can trade not only binary instruments, but also currency pairs, cryptocurrencies, as well as raw materials, metals, stock, and synthetic indices, and futures. The Binary (Deriv) brokerage company is controlled by the regulators of Malta, Malaysia, Great Britain, and Vanuatu. This ensures the safety of traders' funds and the ability to resolve controversial issues quickly if any arise.

Pros/Cons

•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.

•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.

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5

8.7/10

Go to broker

Your capital is at risk.

Minimum deposit:

$10

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QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication.

Pros/Cons

•Affordable minimum investment amount – USD 10;

•No trading fees and no deposit, withdrawal and account fees;

•Simple and user-friendly trading platform designed for binary option trading.

•Leveraged trading is not available;

•No license of an international regulator;

•There is no quality education and instruments for analysis on the website;

•You cannot withdraw the deposit bonus;

•Shares are not included in the available trading instruments.

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6

8.6/10

Go to broker

Your capital is at risk.

Minimum deposit:

$5

Review

Binarium is a broker providing access to trading binary options. The company was established in 2012. The broker is positioned as a reliable company oriented primarily at the CIS market, which is testified by a fully Russian-language website and the focus of customer support on Russian-speaking traders. Client funds are safely held in segregated accounts, which means that the money of traders is held in European banks, separately from the broker accounts. Binarium is a perfect option for novice traders, who want to start their professional career with binary options that are simpler compared to Forex.

Pros/Cons

•Intuitive platform;

•Copy trading service;

•No hidden fees.

•Small selection of trading instruments;

•Small choice of indicators of technical analysis (less than 15);

•Small choice of option types. Options Touch, Range, Ladder are not available;

•Comparatively small reward. Despite the declared “up to 90%” return, the actual yield is 70-80%;

•There are some questions about accuracy of quotes;

•No regulation, offshore registration;

•Inconvenient website from the usability standpoint.

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7

8.4/10

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Your capital is at risk.
You should never invest money that you cannot afford to lose.

Minimum deposit:

$10

Review

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.

Pros/Cons

•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.

•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.

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8

8.3/10

Go to broker

Your capital is at risk.

Minimum deposit:

$10

Review

Intrade Bar began operations in the CIS countries in 2016. The company is dedicated to providing favorable conditions for binary options trading. The broker works with FXCM, a reliable liquidity provider, to ensure that its clients receive accurate currency quotes. One of the distinguishing features of Intrade Bar is the fixed payment on trades, which ranges from 82 to 85%. Because the company listens to its clients’ needs, it is constantly improving the functionality of the trading platform by adding new indicators and tools.

Pros/Cons

•a risk management function, that is, the ability to set acceptable values of loss and profit;

•low minimum deposit;

•two types of strategies: Classic and Sprint trading.

•no trade copy service or options for passive earnings;

•a limited set of trading instruments — only currency pairs;

•offshore registration and lack of a license;

•an uninformative website without education tools or analytics;

•the support service does not work on weekends or after 17:00 Moscow time.

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9

8.1/10

Go to broker

Your capital is at risk.

Minimum deposit:

$20

Review

IQcent is a Marshall Islands-registered broker that offers access to online CFD and binary options trading. The company accrues many bonuses to customers and allows you to use electronic payment systems for depositing and withdrawing funds. IQcent offers a proprietary terminal with built-in technical analysis tools that support standalone and copy trading. The company also has a trading platform for mobile devices (mobile app). IQcent clients get trading access to the following instruments: binary options, CFDs on stock indices, gold, silver, currencies, and cryptocurrencies. In total, more than 100 trading instruments are available to IQcent clients. The company does not charge commissions for making a deposit, withdrawing funds in cryptocurrency, and maintaining a trading account. IQcent provides clients with access to primary training articles and guides and uses modern technologies to ensure the safety of client funds and users' personal data. 256-bit SSL encryption, 3D Secure, and Visa MasterCard Secure Code are used to achieve these goals.

Pros/Cons

•The available minimum deposit is $20 on a Bronze account.

•A simple but functional web trading terminal that does not require installation and is compatible with most devices.

•Regular update of bonus programs.

•The ability to receive additional income for attracting new customers.

•Access to trade in more than 100 financial instruments, including currency pairs, cryptocurrencies, stock indices, gold, and silver.

•Availability of useful tools such as technical and fundamental analysis tools, a section with current news, and an economic calendar.

•The support team, including online chat operators, is available 24/7.

•Regulation IFMRRC.

•IQcent does not provide MetaTrader terminals.

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10

-/10

Go to broker

Your capital is at risk.

Minimum deposit:

$10

Review

Raceoption is a Forex and binary broker providing financial services internationally. The company offers optimal trading conditions for buying and selling assets of different groups, and it gives options to make money on binary options and copy transactions of professional traders. Raceoption clients have access to a referral program and bonuses; the broker also regularly conducts trading competitions among all traders. Trading is available around the clock, and the support service is also available at any time of the day.

Pros/Cons

•The company offers ways to generate passive income.

•It offers many methods to deposit and withdraw funds.

•The broker cooperates with traders globally.

•It takes only a few minutes to open a trading account.

•There are no commissions for maintaining the account or for non-trading activities.

•The company charges a 5% commission for money transfers via VISA cards.

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Top 3 Best Binary Brokers for Novice Traders?

While all binary trading options brokers above offer an opportunity to make profits, there are some whose user interfaces and tools are especially suited for novice traders. Here are three of them.

PocketOption

Pocket Option is one of the best binary options brokers starting out, offering a comprehensive range of services to help novice traders make informed decisions. With its web platform, traders have access to a wide selection of currency pairs, commodities, stocks, and crypto. Opening an account requires a $5 initial deposit, making it easily accessible to everyone to beginner traders with a limited budget. Once an account is open, you'll need to maintain a balance between $100 and $50,000, based on your profile.

QUOTEX

QUOTEX is a binary options trading platform that allows users to trade a variety of global markets and financial instruments with a minimum deposit of just $10. Given that many beginner traders want to risk as little as possible in their initial trades, this low deposit amount makes the platform accessible and attractive to them. Typically, customers open accounts in US Dollars but also have the option to change their account currency whenever they feel like it. The account charges no fees for making this move.

In terms of deposits and withdrawals, QUOTEX gives customers a range of options to choose from. You can use your debit or credit card, an electronic payment system, or even crypto. The platform offers a free demo account that comes with a $10,000 virtual deposit. This is a great way to practice and get comfortable with the platform before investing real money.

Binary.com

Established in 1999, Binary.com is among the oldest and most respected names in binary trading. As a pioneer in the industry, Binary.com offers traders a first-class trading experience with low fees and reliable customer service. The minimum deposit is just $5, which is among the most affordable in our list of top 10 binary options brokers. And while there are no bonuses with this account, traders still get plenty of benefits, such as the rich training programs designed to equip them with the necessary skills to become successful traders.

How to Choose the Best Binary Options Broker

There's nothing like a one-size-fits-all solution when it comes to binary options brokers. Each trader has different needs and preferences, so it's important to determine what matters most to you before making a final decision. Besides, different brokers offer different instruments and features, so it's important to compare them before signing up for an account. Here are a few factors to consider when choosing the best binary broker for you:

Trading Conditions

The first criterion to consider as you compare binary options brokers is the type of trading conditions they provide. That's because these conditions will determine how you can trade and what results you can expect to get.

Start by looking at the types of options they offer. A good broker should give you access to a wide range of options, including High/Low, Touch/No Touch options, and range trading. The idea is to have a broker that allows you to tailor your trades according to your specific needs and preferences.

You should also consider the number of trading assets available. Most brokers will offer access to hundreds of underlying assets, including stocks, indices, currencies, and commodities. The more options available to you, the better you can diversify and manage your

Take a close look at the minimum deposit and the minimum option rate. A top 10 binary options broker will provide reasonable rates with a low minimum deposit requirement. This will enable you to start trading with minimal risk.

Finally, look at the maximum and average reward amount. This is an important factor because it determines how much money you can make on each trade. For instance, some brokers offer up to a 95 percent payout on successful trades and an average return of 70 percent. Having access to a high-reward environment is key to maximizing your profit.

Technical Capabilities of the Trading Platform

Different binary trading platforms have different functionalities. One platform may come with more indicators, while another may have a comprehensive built-in graphical analysis tool. The key is to find a platform that meets your specific technical trading needs. Some platforms come with the capacity to copy options, while others allow you to build and manage your own strategies.

Look for platforms that offer advanced charting capabilities with customizable indicators and tools. For example, some platforms provide the ability to perform technical and fundamental analysis on the same chart window. This can be very useful in deciding when and how to trade, as well as getting a better idea of the market’s direction.

Consider the ease of use and responsiveness of the platform. It should be intuitive to use, enabling you to quickly find the features you need without having to spend too much time finding them. The platform should also react quickly to changes in the market so that you don’t miss out on any opportunities.

Go for platforms that come with demo accounts so you can practice and become familiar with the setup before committing real money. This will help you gain confidence and improve your skills in no time.

Non-Trading Criteria

It isn't just the trading conditions that you need to look at when selecting a binary options broker. The best binary options brokers excel in other areas too. The quality of customer service offered by a broker, for instance, can be just as important as all the other criteria mentioned above. That’s because issues are bound to arise when trading, and you need to have a reliable partner by your side. Read customer reviews and testimonials to get an idea of the quality of customer service they offer.

The variety of payment methods accepted by a broker is also important. A good broker should accept payments via credit card, wire transfer, and electronic wallets like Skrill and Neteller. This will make it easier for you to deposit funds and withdraw profits quickly and securely.

Check the regulation status of a broker before making your final decision. This is to ensure that you’re dealing with a legitimate and trustworthy broker who will abide by all applicable rules and regulations. Regulated brokers usually have better customer service, tighter spreads, better execution policies, and higher-quality trading platforms.

Can I Trust Binary Options?

Yes. Trading binary options can be safe, provided you find a reputable broker with the right features. Take the time to do your research before committing to any broker. Check their regulation status, trading conditions, platform features, and customer service quality before making your decision. With the right approach and a reliable partner, you can safely begin trading binary options and start earning profits from your trades.

Is Binary Trading Risky?

Yes. Like all forms of financial trading, binary options involve risk, and it is important to understand this before you start trading. You may end up making losses instead of profits if you do not take the time to learn about the markets and have a sound strategy in place. It is, therefore, essential that you practice trade with a demo account before committing real money so that you can get used to the market conditions and become familiar with your chosen broker’s platform. Make sure that you are aware of all the risks associated with binary trading before you invest any money.

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: