Binary options trading has become one of the most interesting and lucrative schemes for traders out there. Being easier to understand than other options, online binary trading has helped many low-skilled traders to earn some extra bucks.
While some trading platforms have higher payouts, others might have higher deposit bonuses. So, picking the right platform can be tricky, especially for beginners.
That’s why we’ve selected and reviewed some of the best binary option trading platforms for you. Check them out!
Best Binary Options Trading Platform Reviews
- Pocket Option – Best Binary Options Trading Site
- Binary.com – Offers a Variety of Trading Features
- IQCent – Top Brokers For Copy Trading
- BinaryCent – Leading Provider of Binary Options
- RaceOption – Best Bonus Structures
- Nadex – Most Reputed Binary Options Trading Platform
Whether you are an experienced trader or new to this field, you need to know everything about a binary trading broker before investing. There are many online brokers available; you need to carefully go through all the details before you opt for their services.
We have reviewed the best binary option trading platforms here to save you time and help you invest your money wisely.
#1. Pocket Option – Best Binary Options Trading Site
At the top of our list of best binary option trading platforms is Pocket Option. It was launched in 2017 by a team of FinTech and IT experts who had the sole objective of providing their customers a convenient and accessible platform for binary trading.
Since then, they have successfully acquired more than 100,000 customers from over 95 countries across the globe. The platform has received decent reviews from experienced and new traders.
Almost all users have loved their easy-to-use interface layout and trading functions. They also appreciate the free demo account that is available to experiment with the platform’s features.
The reasonable initial deposits also set the site apart.
Further, the company operates with a license from IFMRRC (International Financial Market Relations Regulation Center), so no need to worry about your money’s safety. If you are looking for a comprehensive platform that covers the trading circles of the US and Europe, this is the one.
- Minimum Deposits and Withdrawals
The minimum deposit amount is extremely reasonable, making the platform well-loved among customers. After your account setup is done, you can deposit an amount of $50 or higher to get started.
Having a low minimum withdrawal amount of $10, you don’t need to earn lots of profit for a payout. The site offers you the flexibility to manage your income, withdraw or continue investing in binary trading options.
- User Experience
The ease of use pocket option offers everyone makes the platform an excellent choice for beginners who don’t have much experience in binary options trading.
The site has received praise for its tutorials and educational guides to help out beginners. Most traders stated that the platform made binary trading way easier for them.
Along with all this, Pocket Option also has convenient mobile apps so that you can always have quick and easy access to your binary options.
- Demo Account
The platform allows you to open a demo account and start trading with virtual money. It allows users to experiment with website features and get accustomed to binary options trading.
It offers you excellent trading options, including stocks, cryptocurrencies, commodities, and currency.
Their services also include more than 100 payment options, with no commissions on withdrawals or deposits. After creating your trading account and verifying it, you will get many convenient deposit options to pick.
Another reason beginners love this platform is their educational resources. The platform offers you guides and tutorials on trading strategies for optimizing your investments and gaining the most out of each trade.
That’s not all! Pocket Option allows you to use cashback for a more comfortable trading experience which is also less risky. It offers you maximum comfort while investing your hard-earned money.
Plus, they offer you up to a 100% bonus when you open your trading account, which also separates them from other sites.
- Tutorials and guides for beginner traders
- The demo account offers flexibility to try out services
- Low minimum deposits and withdrawal amounts
- Variety of binary trading assets, including stocks and cryptocurrencies
- Hassle-free withdrawals and payment systems
- The platform’s charting functions are too limited
- More chart interactivity and rollover features required
#2. Binary.com – Offers a Variety of Trading Features
The last binary options trading platform on our list is Binary.com, an award-winning company with decades of experience. They have been in the market since 1999 and follow a very simple and straightforward approach towards offering trading services.
Coupled with an excellent web interface, they have a host of other features to attract potential traders. Also, they segregate their trader’s funds and store them in esteemed institutions. So, no worries about regulation and security.
Over the years, the platform has received multiple awards for its ease of use, flexibility, and high-quality services.
So, here you’ll find the perfect trade according to any market condition. It also helps you to understand how much you will gain or lose while participating in a trade.
The company has been regulated and licensed in Malta and the British Isles since 2015. In Europe, the platform is regulated by the MFSA (Malta Financial Services Authority); it operates under the name Binary Investments Ltd.
For clients who want to open a CFD Metatrader 5 or FX account, the platform is regulated by these three bodies – Vanuatu Financial Services Commission, Labuan Financial Services Authority, and British Virgin Islands Financial Services Commission.
- Minimum Deposits and Withdrawals
As the minimum deposit amount is reasonable, the platform is more suitable for casual traders and beginners. There are plenty of deposit and withdrawal processes, so you need not worry about that.
The minimum deposit and withdrawal amount depend upon the payment modes:
- Credit cards – $10
- E-Wallets – $5
- Wire transfer – $500
- User Experience
Over the years, the top-class trading services offered by the platform have allowed it to gather tons of positive reviews. Most users loved the diversity of functionalities in the account types.
You get to browse more than a hundred markets, including Forex, crypto, and CFD. The sign-up process is convenient, and the platform follows the handholding approach to help you understand functionalities.
All the withdrawal and transactional processes are smooth. You can open accounts using your email address. However, there are no bonuses on account opening.
- Virtual or Demo Account
A virtual account is offered for those who want to try out the platform and how binary options trading works. The company will put a sufficient amount of virtual credit in this account, which you can use to trade.
Once you’re accustomed to the platform switches and want to gain some real cash, you can register for your official account.
The platform offers TradingView, technical analysis, and charting functionality that helps you analyze the current markets.
Then, you also get SmartCharts, which enables you to study the financial markets using interactive visualizations and trading tools.
- Categorized Trading Services
Binary.com has other amazing functionality that they categorize into two sections – beginner and advanced. You get the following features under the beginner section:
- Deriv.com – A simple online trading interface
- SmartTrader – A high quality international binary options trading platform
- Tick Trade Android App – An excellent mobile trading app
Under the Advanced section, you receive:
- MetaTrader 5 – A platform dedicated to Forex and CFD trading
- Binary Bot – A drag and drop interface for trading strategy automation
- Binary WebTrader – An advanced interface monitoring asset movement and the markets
- Educational Resources
The company has plenty of educational resources for you to go through. You will find that the concepts are broken down into small chunks for easy understandability. All information related to binary options lookbacks and MetaTrader 5 is clearly presented for you.
- No hidden expenses on commissions
- Choose trades from a duration of 10 seconds to 1 year
- Monitor your trading portfolio in real-time
- Excellent binary trading Technology for efficient investments
- Binary options, Forex, Crypto, Metals, CFDs, and Lookbacks available for trading
- No bonuses are available while signing up
- The platform lacks prizes and giveaways
#3. IQCent – Top Brokers For Copy Trading
If you’re looking for some quick profit without too much research on the complexity of the binary options market, then this platform will be ideal for you. IQCent is a very popular platform in the trading arena with excellent features catering to all types of users.
Moreover, you can easily fund your trading account using credit cards, bank transfers, bitcoin, ethereum, and other methods. After the company receives a confirmation of the payment, it will add your funds immediately.
It’s a well-reputed platform suitable for beginners. The platform offers more than a hundred trading assets, including crypto, commodities, stocks, and multiple payment methods are accepted here.
This binary trading broker is handled by a company called Wave Makers LTD, with headquarters in the Marshall Islands. No other regulatory body oversees its operations.
- Minimum Deposits and Withdrawals
They have a reasonable minimum deposit of $10 to get started with an easy sign-up process. Also, the minimum trade size is low, so it will suit you even if you’re a beginner.
An excellent advantage for new traders or first-timers on this platform is that they can receive a bonus of up to 100% after their initial deposit.
In case you want to withdraw some balance, you need to provide your ID. Withdrawals take about an hour after the platform has received the necessary confirmations.
- User Experience
Most users loved the platform’s interface and the reliability of a copy trading tool. It allowed many traders to follow the pros and sharpen their skills. As all the processes are super smooth and easy to follow, the platform has become very popular among beginners.
All traders enjoyed the excellent bonuses offered by the site. They stated that the account opening, fund transfers, and withdrawals were quick. The SSL-certified security is also commendable.
The referral program has also benefited many customers. The users also loved the versatility of the platform, as you can use it on any device effortlessly. However, traders felt that information about the platform’s regulation should be readily available on the website.
- Account Types
IQcent lets you open three types of accounts for binary options trading – Bronze, Silver, and Gold.
The Bronze account is the basic account that is suitable for all types of users. Submitting your ID, filling up a registration form, and funding your account will set you up. You get features such as live video chat support, demo account, copy trading functionality, bonuses up to 20%, and easy withdrawals within an hour.
The next account type is Silver, which includes all the facilities of the previous account. However, readers will get bonuses of up to 50% under this account. You get a web session to learn effective trading strategies. Further, your first three trades will be completely risk-free.
The last account type is Gold, which offers you all the features of the previous two accounts. But the bonuses are up to 100%! Along with the masterclass web session, you also get a personal success manager to assist you throughout all your trades.
When it comes to funding methods, IQcent is a completely secure SSL certificate fund transfer process. The platform won’t charge you any transfer fee, and the processes are pretty fast. However, the funding processes may slow down during weekends or holidays.
The platform guarantees all its traders that withdrawals will be processed in under an hour. If you run into any issues, they have an excellent customer support team to handle them efficiently. Further, the platform also lets you trade over weekends.
- Non-stop trading, including the weekends
- 24/7 multilingual customer assistance
- Hundred percent secure trading and fund transfer
- Fast withdrawals under an hour
- Refer friends to earn 20% from their deposits
- Copy-trading allows you to follow successful traders
- Regulation information not specified
#4. BinaryCent – Leading Provider of Binary Options
The next binary trading platform on our list is BinaryCent, which is also a very well-loved website. The platform was formed in 2017 by a firm called Cent Project LTD. Like the previous platform, this is also very popular among beginners for its convenience and excellent features.
In fact, you can start binary trading with a low amount of only 10 cents for a particular trade, which is an almost unmatchable rate in the industry. Commodities, cryptocurrencies, stocks, Forex, and indices are available for trading.
When it comes to regulations, the platform is supervised by VFSC (Vanuatu Financial Services Commission). They also have a subsidiary company called BinaryMate, which solely focuses on more serious trading.
As you can see, the company handles a variety of trade operations, and they know what they are doing.
- Minimum Deposits and Withdrawals
This platform is an excellent way to start binary options trading along with CFDs (Contract For Differences) and Forex trading. BinaryCent offers high payouts and a reasonable minimum deposit of $250 to start binary trading.
Withdrawals are processed in under an hour. However, identification of the trader is mandatory for all withdrawals.
- User Experience
Using the site is fairly easy, as it gives you a brief tour of how to navigate right after you log in. This way you can also learn about the advanced features.
The platform also offers access to various chart patterns, technical analyses, tips, and the latest information on the binary trading industry. Their user-friendliness has also been lauded.
Users also loved the fact that the accounts can be activated easily via Bitcoin or a card. Also, a mobile application is available for Android and Apple users.
- Copy Trading
One of the most important services the platform offers is copy trading. Here, you are allowed to follow the seasoned traders you want as long as your budget lets you.
You can copy the trades of these experienced traders to increase the chances of profit and learn everything you need to know about binary options trading.
Their website has received a plethora of positive reviews from their happy customers. The copy trading functionality allowed them to learn the tricks of the trade from experts.
- Account Types
Besides, the platform offers three types of accounts for interested traders – bronze account, silver account, and gold account.
It is the basic account type for all traders with a low minimum deposit and the opportunity to earn a bonus as high as 20%. You get 24/7 live chat support, easy withdrawals within an hour, a demo account, and a copy trading tool.
It has a slightly higher initial deposit with an office bonus of almost 50%. However, you need to trade at least 40 times before making the first withdrawal. But the first three trades are risk-free.
This account offers you all the perks of the previous package.
This account is suitable for experienced traders in the binary market. Besides getting all the features of the previous two accounts, you also get a 100% bonus while starting off.
The best part? You get a personal success manager to assist you while trading binary options.
Besides all these amazing features, the site also has an easy-to-use mobile available for Android and Apple users. So, you can check out your trades and transactions anytime you want.
- A very low minimum trade amount
- Quick withdrawal processing under 1 hour
- A variety of payment options offered, including bank transfer and Bitcoin
- 24/7 live multilingual customer support
- Export trading advice offered in the Gold account
- No taxes are withheld from payouts
- The platform gears towards beginners, not pro traders
#5. RaceOption – Best Bonus Structures
Best out of the United Kingdom, RaceOption was established in 2014 and is another one of the best binary option trading companies. With over 10,000 daily trades and 1,100 active users, an average trader’s income here is $1,237.
Offering high security and flexibility, the platform is well appreciated by experienced and beginner traders. A mobile app and a web platform are available for users.
The platform is extremely easy to navigate, where all the features are clearly laid out. New traders are offered gifts right after the registration, which takes about a minute. You can quickly start transferring funds to your trading account via a variety of options, including Visa, Bitcoin, and Perfect Money.
It is one of the few binary trading platforms that allow users from Australia, Canada, or the UK to use its service for trading. There aren’t many restrictions on your location. Just create your account on the platform, and you’re good to go!
The company also offers guidance by a skilled advisor for your binary options trading. That’s why all beginners love this platform!
It’s a part of the Finance Group Corp and Suomen Kerren. While both these firms are registered under Vantau, they don’t offer the same level of regulation such as FCA.
Some eyebrows did get raised as there wasn’t sufficient information about the platform’s regulation. But, no one has faced any problems while using the site.
- Minimum Deposits and Withdrawals
There are plenty of withdrawal methods and funding options on RaceOption, and it usually takes an hour. For minimum deposits, the amount is $250 to get started.
Even more, the platform allows you to share a trading link with a friend and get 20% in returns from a client deposit.
- User Experience
The company offers a comprehensive trading platform both on mobile and desktops. The features include easy account funding, quick trading, withdrawal of funds, access to trading history, and much more.
You’ll love the user-friendliness of the platform and the convenient sign-up process. Moreover, you also get to see live charts of the various CFD and execute trades quickly.
The company offers an exciting web platform along with a mobile application available for Android and Apple users.
So, you can always check out how your investments are performing. Be it stocks, commodities, or crypto; the entire trading process is comfortable here. If you have got the hang of it, you can even trade on weekends.
- Copy Trading
In case you are a beginner in this binary trading industry, the platform’s copy trading feature will help you. It enables you to choose one or more of the most successful traders on the platform and copy their trading strategies. Therefore, with less hassle, you can earn some amazing profits.
The copy trading feature enables you to learn the trade tricks easily and develop a decent balance for your account.
- Contests and Giveaways
Plus, there are weekly trading contests to bag some more extra cash. RaceOption also organizes exciting giveaways where everyone gets a chance to win prizes such as a MacBook Air or an Apple Watch.
- Plenty of bonuses and weekly giveaways
- Excellent customer service available 24/7
- Accepts users from anywhere in the world
- Quick withdrawal processing
- Completely secure platform with 100% data protection
- No demo account is available
#6. Nadex – Most Reputed Binary Options Trading Platform
Nadex (The North American Derivatives Exchange) is a very well-known brand in the binary options trading industry. Based out of Chicago, the platform has developed a huge customer base with more than 10,000 contracts traded every week.
The highlight of this platform is it allows you to participate in short-term trading opportunities. You have the option to trade binary options, stocks, commodities, indices, call spread contracts, and touch brackets.
Furthermore, the platform is easy to navigate. The company sells itself apart by using advanced technology to help you navigate the markets and invest in the best binary trading options.
Besides all this, the platform also offers excellent customer support to all its traders. You can reach out to the customer support department anytime via email or phone. A Nadex account specialist will guide you and listen to all their queries.
The company follows regulations laid down by the Commodity Futures Trading Commission, so you know that you are in the right hands. However, the money you deposit for these trades has to be segregated in separate bank accounts to ensure your funds are secured.
Your deposited funds will be segregated at Fifth Third Bank and BMO Harris Bank.
- Minimum Deposits and Withdrawals
The platform has a minimum deposit of $250, and withdrawals take 3-5 days. Depositing and withdrawing funds from the Nadex account is also easy, making it convenient for inexperienced traders.
- User Experience
Nadex is such a well-reputed brand that it’s hard to find a negative review about them. Most customers have absolutely loved the user-friendliness of the platform and the ease while setting up their accounts. However, the platform is accessible only through a computer.
On the Nadex platform, you are allowed to place orders using their proprietary software, straight to the exchange.
Moreover, you can browse through 5,000 contracts categorized by the expiry time, price, or asset class every day.
- Demo Account
If you are unsure about the platform or want to know more about binary trading, you can open a demo account to try out short-term trading. That gives you an opportunity to trade in various market conditions and understand how things work.
The platform also provides expert support so that you can refine your trading strategies.
- Education Content
The platform has an extensive learning center on its official website enriched with information about products, accounts, funds, and much more. Plus, Nadex has a fantastic YouTube channel where you can dig in to learn more.
Moreover, they also arrange webinars and live boot camps to spread valuable knowledge about binary trading. You’ll know market insights and technical trade analysis. Also, the platform offers market analyses, along with the evaluation of specific commodities, sectors, and currencies.
- Trading Flexibility
Another way the platform stands out is the ceiling levels and built-in floor for contracts and binary options. It means you’ll get to know your maximum profit or losses beforehand.
The site will notify you of the max profit or loss on your order ticket before you start the trade, allowing you to have better control over your money.
The platform also provides sufficient flexibility to invest in various markets, particularly short-term trading.
- A reputed brand with an international customer base
- Reasonable fees and minimum deposits
- Outstanding educational content, including boot camps, webinars, and videos
- Ceiling levels and built-in floor offers better control on investment
- Excellent chart analysis and market data streaming
- No bonuses are available to traders
- No mobile app or high-quality market research tools
How We Chose The Top Binary Options Trading Platforms
As we aimed to offer you a holistic information overview, required to pick the right binary options trading platform, we went through countless hours of research.
Our team started by analyzing the most popular platforms out there where traders invested the most. It left us with a handful of platforms to delve deeper into.
Here are some factors we accounted for:
- Platform Regulation
We took a closer look at which platforms offered the most success to traders. It automatically allowed us to cut the list short and focus on a select few platforms.
A binary trading platform needs to be regulated by a governmental body such as Commodity Futures Trading Commission (CFTC). So, we checked to see whether these brokers were properly regulated and followed the legalities properly.
- Underlying Assets
Our team then moved on to check the range of underlying assets these platforms offered. It was an important factor to check; more options will give you better opportunities to explore the markets.
Also, some companies may impose limitations on these markets. As a result, our list was shortened as we kept only the diverse platforms and left out the rest.
- Country Restrictions
We also focused on any country restrictions these companies faced. Due to certain restrictions, some companies don’t operate in the US, so they aren’t necessarily the safest bet. It allowed us to understand the level of transparency of these sites.
Thus, we chose platforms that followed all the governmental rules to the dot.
- Customer Service
Lastly, we compared the companies based on their customer service ratings and promptness in attending to their users. That includes live chat support, 24/7 service, and polite customer support executives.
We also asked some of our team members to try these platforms out before preparing our final list. This allowed us to get the most authentic information possible.
Other Factors We Checked
To ensure we offered the best information, we also made sure to check the following factors:
- Maximum payouts for each trade
- Minimum deposits for trading account
- Website design and convenience
- Availability of demo accounts
- Access to mobile applications
- Binary option bonus
Things To Consider Before Choosing A Binary Options Trading Platform
Before selecting a binary options trading broker, you need to do your homework. Even if you have learned a lot from our reviews, you still need to consider some factors before committing to a particular platform.
- Number Of Assets
The most important factor to consider while choosing a binary options trading company is the number of assets they offer. You will notice that most of the platforms we listed offer more than a hundred financial assets to trade.
The most common assets or markets include Forex, stocks, indices, and commodities. The top-quality brokers also offer CFDs and cryptocurrency place your bets. Therefore, a larger variety of assets offer you better opportunities to gain profit.
The best binary trading brokers are regulated by a financial institution. It guarantees safety and prevents you from getting involved in any legal complications later on.
Regulated brokers are also able to protect their traders in case a dispute arises. In addition, these brokers segregate the user’s funds in different bank accounts in prestigious institutions. So, always choose a binary options broker that operates under regulatory agencies such as CFTC, ASIC, FCA, and CySEC.
If binary options trading isn’t allowed in your region, these companies will be your savior.
- Demo Account
It is an exciting feature offered by most binary trading brokers, which allows you to open an account and explore the platform. You also get virtual funds which you can use to trade and predict the market conditions.
This account allows you to get comfortable with binary trading and the platform’s functionalities. However, don’t expect to learn everything from a demo account, as real market situations may be more unpredictable than you think.
Therefore, it is our recommendation that you choose binary trading brokers who offer you a free demo account.
- Maximum Payouts
Some platforms put a limit on the maximum amount you can withdraw after a payout. On the other hand, some companies may charge you a small fee while withdrawing money. Both cases aren’t very convenient.
If you want to use most of the profit you have earned, always choose a platform that has high payouts. The top brokers might offer you 50% to 100% payouts for each trade.
Thus, always check out the payout limit before signing up for the platform. Besides choosing companies offering high payouts, you can also choose brokers who offer rewards or bonuses but have a low payout.
- Withdrawal Time
When you bag lots of cash, it’s natural to want to withdraw the money as soon as you can. That’s why some binary trading brokers allow you to withdraw your money a day before the expiry time. Other platforms may ask you to wait for a couple of days before the withdrawal.
So, choose the company depending upon how much you are willing to wait. If someone offers you a quick withdrawal, it’s also a measure of the smoothness of their processes and customer service.
- Mobile Applications
If you’re someone who likes to keep tabs on their investments, the mobile application for your chosen trading platform will be extremely convenient. These apps can be accessed from your smartphone or tablet and will let you monitor the trades in real-time.
So, it’s good to consider trading brokers who offer you apps available on Android and Apple devices. Further, using apps might be easier for inexperienced traders.
FAQs About Binary Sites Options
Q. What Type Of Binary Option Trading Platforms Must Beginners Select?
Binary option trading suits all inexperienced traders, as they have to choose between only two options – yes or no. To get the most out of each trade, beginners must choose a platform that has sufficient educational content or tutorials to guide them.
The platform must have a simple interface, easy controls, and also the provision of a free demo account to try out various features. If you’re a beginner, look for sites offering personalized training assistance.
Q. Is Binary Trading Safe?
In general, binary options trading is safer than many other high-risk investments. It’s straightforward and uncomplicated, where you have an idea of how much you might gain or lose before an investment. You won’t lose money just because you don’t understand the investment terms.
Even though every trade investment is a little bit of risk, binary options are worth a shot. Just ensure that you are using a safe and properly regulated platform for your trades.
Q. How Important Is Copy Trading?
The copy trading functionality offered by many platforms allows you to follow experienced investors. As the professionals have more knowledge about trading than you do, you’ll get a fantastic opportunity to understand their trading strategies.
If you’re confused, copy trading will allow you to emulate the investment methods of these pro traders, increasing your chances of profit. Thus, it’s important for any trader, especially if they’re beginners.
Q. What Are Binary Trading Signals?
Binary trading signals are notifications given by the companies to help you understand the market conditions or the direction of the market you’re investing in. These signals have been prepared after a thorough technical analysis and market evaluation.
Seasoned investors may not require these trading signals, but they will be extremely beneficial for beginners.
Conclusion: Which Is The Most Reliable Binary Options Brokers?
If you’ve never invested before and want to dip your toes, binary options trading is the best way. It’s simple, with lesser rules and regulations, which will help you wrap your head around the basics.
As any investment involves some amount of risk, you’ll need some time, in the beginning, to settle down. However, with practice, reading tutorials, and using free demo accounts, you will be on your way to rule the binary trading market.