Binary options brokers seem to become more and more popular day by day. If you have never heard of them, don’t worry as we’ve got you covered in this article. These options are called “binary” for a reason – they can have two very simple outcomes, either you end up with a profit that is pre-defined, or you lose the money that was used for making a trade. To put it in a few words, when you are trading binary options, you make a prediction whether a market is going to be above a specific price at a certain time or not. If you think it is going to, then you buy the trade, if you think it’s not going to, you sell. Binary options can be used on 4 different markets, including Forex, Commodities, Events, and Stock indices.
Our site is mostly about Forex brokers and their promotions. However, there is a number of reasons why one would want to choose a binary options broker, and this is our duty to provide you with a list of unbiased reviews. Below you can preview our rating of binary options brokers, read the detailed reviews and sign up with a broker of your choice.
5$
CySEC, FCA, ASIC
30$, 50%+20%
1:1000
2009
MT4, MT5, WebTrader
$10
Risk Warning: YOUR CAPITAL MIGHT BE AT RISK
N/A
1:1000
2013
Proprietary
10 USD
FCA, CySEC, FSA
N/A
1:Unlimited
2008
MT4, MT5, WebTerminal
250$
FCA, NFA
N/A
200:1
1999
MT4
$25
ASIC, CySEC, FSA, BVI
50%
1:400
2001
WebTrader, MT4, TradingView
100
FCA, CySEC, DIFC, CIMA
N/A
500:1
1977
MT4, MT5
$100 AUD
ASIC
N/A
500:1
2005
WebTrader, MT4, MT5, IRESS
AUD$200
ASIC, SCB, CMA, CySEC, FCA, BaFin and DFSA
N/A
1:400
2010
MT4, MT5, cTrader, TradingView
500$
MIFID
N/A
N/A
N/A
Custom
350$
CySEC
N/A
N/A
N/A
SpotOption
350$
CySEC
N/A
N/A
2012
SpotOption
250$
N/A
N/A
N/A
2016
Custom
300$
MIFID
N/A
N/A
2016
Custom
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
In order to find a perfect choice for a binary options broker, you might need to keep several things in mind. Whichever you end up choosing, make sure that the broker is regulated, experienced in the field, and has a lot of trading tools to make your experience much more comfortable and enjoyable. Let’s take a look at some of the most important items to look for when selecting a binary options broker.
There are three main features when it comes to selecting a place that will keep your mind and money safe: software, regulation, and customer support. Let’s find out more.
Most of the binary options brokers do not have their own custom-made trading software. Unlike Forex trading, binary options are offered via one of the white-labeled FX platforms. We have gone ahead and prepared a list of the most common binary trading software here. In general, binary trading is one the simplest forms of financial trading, hence you should now expect to benefit from powerful charting analysis and a great number of features. In most cases, you should just look for a platform that provides a comfortable UI and supports all of the option types you need.
There are also MT4 binary options brokers. With such brokers, you can use your regular MT4 setup (if you already have one), and trade binaries together with FX. However, currently, we cannot recommend you any decent broker that offers both types of trading within the same platform.
When it comes to analysis, we always recommend using a certain third-party charting provider to conduct your analysis. All types of binary software seem inferior in this space. As the worst option, you may just open a demo account with one of the best binary options brokers to access MT4 for your charting needs.
You don’t want your money to be gone one day just for no reason. This is why you should only choose a regulated binary options broker. Keep in mind that offshore regulation equals no regulation. You want to get a broker that is regulated in Europe. Hence, you should choose a CySEC-regulated brokerage, just like the IQ option, to trade without being scammed. There are nearly no US-regulated binary options brokers, hence, if you are looking for the best US binary options brokers, you’d rather open an account with a certain FX or stocks broker.
As there are lots of bad binary options brokers, just because it became very easy to open one, the main distinction comes with the level of service one can get. It is quite hard to test how you will be treated once you opened an account, especially considering that many brokers do not offer demo accounts. One thing to keep in mind is that you should not confuse sales effort with customer support, salespeople will do their best to make you open an account, while customer support may still be sloppy. The best idea here is to open an account with a small deposit ($50-$100) and then see how well you are taken care of. Otherwise, you may simply read the binary options brokers’ reviews to learn more from the experience of other traders.
Sign up with a regulated broker – HotForex
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