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Binary Options Brokers and Platforms – Reviews and Comparison
We have compared the best regulated binary options brokers and platforms in April 2020 and created this top list. Every broker and platform has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The sortable broker comparison list below shows which binary trading sites came out on top based on different criteria.
You can sort the list using payout (maximum returns), minimum deposit, bonus offers or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. Below the comparison list is some advice on how to pick the best trading platform for you, as this will often come down to your personal requirements and needs.
Top Brokers in Russia
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|OptionField||$5||93%||Pro Account Discount and 10% Cashback||» Visit|
|Nadex Exchange||$250||100%||» Visit|
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How to Compare Brokers and Platforms
In order to trade binary options, you need to engage the services of a binary options broker that accepts clients from Russia. Here at binaryoptions.net we have provided a list with all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:
- What is the Minimum Deposit? (These range from $5 or $10 up to $250)
- Are they regulated or licensed, and with which regulator?
- Can I open a Demo Account?
- Is there a signals service, and is it free?
- Can I trade on my mobile phone and is there a mobile app?
- Is there a Bonus available for new trader accounts? What are the Terms and
- Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
- Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices and stocks – and how many of each?
- Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of day, long term etc?)
- How much is the minimum trade size or amount?
- What types of options are available? (Touch, Ladder, Boundary, Pairs etc)
- Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
- Do they operate a Robot or offer automated trading software?
- What is the Customer Support like? Do they offer telephone, email and live chat support – and in which countries? Do they list direct contact details?
- Who has the best payouts or maximum returns? Check the markets you will trade.
We cover as many of these comparison factors as possible in our list above, but we go into much more depth within each review.
Regulated Binary Brokers
Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option.
|Binary.com||Malta GA||BO, CFD|
|IQ Option||CySEC||BO, CFD, Crypto, Forex|
|BDSwiss||CySec||BO, CFD, Crypto, Forex|
|24Option||CySEC||BO, CFD, Crypto, Forex|
|Nadex Exchange||CFTC||BO, Forex|
Leading regulatory bodies include:
- CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
- FCA – Financial Conduct Authority (UK)
- CFTC – Commodity Futures Trading Commission (US)
- FSB – Financial Services Board (South Africa)
- ASIC – Australia Securities and Investment Commission
There are other regulators in addition to the above, and in some cases, brokers will be regulated by more than one organisation. This is becoming more common in Europe where binary options are coming under increased scrutiny. Reputable, premier brands will have regulation of some sort.
Regulation is there to protect traders, to ensure their money is correctly held and to give them a path to take in the event of a dispute. It should therefore be an important consideration when choosing a trading partner.
Both sign up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment or risk free trade . Whatever the form of bonus, there are terms and conditions that need to be read.
It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to ‘opt out’ of taking a bonus.
Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to ‘over trade’. If the bonus does not suit you, turn it down.
Best Binary Options Broker!
Perfect Choice For Beginners and Middle-Level Traders!
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Binary options demo accounts are the best way to try both binary options trading, and specific brokers’ software and platforms – without needing to risk any money.
You can get demo accounts at more than one broker, try them out and only deposit real money at the one you find best. It can also be useful to have accounts at more than one broker. For example, payouts for two different assets might be best at different brokers. You can shop around, and use whichever account has the best payout for that asset.
Demo accounts offer the best way to try out a brand, risk free. Likewise if we recommend a brand, you can try it first, before risking anything.
Low Minimum Deposits
If you are looking to get involved with binary options for the first time, low minimum deposit requirements may be of interest. For traders just looking to try binary options, a low minimum deposit broker might be best. A small initial deposit keeps risks low. Minimum deposits start at just $5 and there are a growing number of brokers offering low minimum deposits – “low” would be any minimum under $50.
Likewise, all brokers will have a minimum trade requirement or trade amount too. These can vary greatly between platforms. Minimum trade figures range from $1 to $25 – which is a large difference if a trader plans to trade frequently. For some traders, this might be less of a factor in terms of finding the best broker for them, but for others it will be very important. Practice accounts are a zero risk way of learning to trade.
One element many traders use to find the best binary options trading account, is the payout percentage on offer. This is not always a simple comparison however. Payouts will change based on the underlying asset being traded, and the expiry time of the option. In addition, payouts will change as the broker manages their own risk. So if one broker was originally the best price, things may then revert and mean that another now has the top payout.
So the most an investor can do, is to check the payouts for assets, and expiry times they are most likely to make, and judge which brand offers the best terms most often. Demo accounts are good when researching payouts on specific assets and trades.
Exchange traded and over the counter brokers will have different payouts – and they will not be easy to compare. In general, exchange traded options offer superior value. Nadex are one example of an exchange.
So as you can see, finding the best trading account and broker is not always easy – but it is worth noting that you are free to move between brokers whenever you like. So even if an account turns out to be poor, it is easy to up sticks and find a new trading firm. Likewise, a trader could have multiple accounts, and open trades at the broker with the best terms for that particular trade.
Which is the Best Binary Trading Platform?
Naming the best trading platform is not easy, simply because trading platforms and proprietary (bespoke) software are normally a question of personal taste. One user might like a simple layout, while others might need a lot of data on screen all the time.
However, platforms do have different levels of quality, both in terms of ease of use, and features. Broadly speaking, brands which offer Contracts for Difference (CFDs) in addition to binary options, deliver a more feature-rich trading platform or advanced software.
So the likes of Nadex and IQ, will deliver a very professional trading platform. MetaTrader integration is also normally provided at the more professional brokers (Some use both mt4 and mt5 functionality) . This difference in quality is evidence of the maturity of binary options as a product, but binary brands will catch up very quickly.
Intro To The IQ Option Platform
How do Brokers Make Money?
Binary options brokers make money via one of two business models:
- As a counter-party, ensuring an ‘over round’ via payout percentages. Known as ‘Over the counter’ (OTC)
- Via a spread or commission on an exchange traded model
People who have experience of other forms of trading, and are now approaching over-the-counter (OTC) brokers for the first time may find themselves asking the question: “Where is the commission?”.
With OTC binaries however, there is no commission. In theory, the term ‘brokers’, is not correct. Binary firms are not arranging a deal or acting as a middleman, or as a market maker; What they are, is the counter-party to each of their customers’ positions. So there is no fee or commission for the trade. Instead, each customer is essentially betting against the house. Where brokers have both sides of a trade covered, they have a handsome margin. Where they do not, the payout still gives them a level of protection. In certain circumstances, the broker will also hedge it’s own position to mitigate risk.
Those companies (Nadex, for instance) that trade binary options via an exchange operate much more like a ‘broker’. Unlike the OTC market where the platform is the counter party, with exchange traded options, the broker is the middleman – matching buyers with sellers and charging a commission. This charge is normally hidden within the spread, rather than an explicit cost. There is far less risk involved for the broker, and therefore generally better returns per trade for the trader. Brokers can be actively compared using the spread – the tighter the spread (difference between buy and sell prices) the cheaper it is to trade.
Brokers using the spread model often also offer leverage, or trading on ‘margin’ via their software. This increases the trade size for the trader – and profit for the platform.
Should You Use Multiple Brokers?
There are some very good arguments for having more than one binary trading account:
- Brokers suit certain trades. Different brokers will suit different trading styles, or trade types. So one broker might be excellent for shorter term trade types, and have great payouts on forex pairs. But that same brand may be slightly less good when it comes to offering boundary trades or indices payouts. If a rival had a full set of long term expiries with great payouts, and lots of choice of boundary trades – it makes sense to have accounts with both platforms, and place trades with the broker that offered the best deal for each trade.
- Demo accounts. Multiple demo accounts makes perfect sense – you want to try as many brokers and trading platforms as possible before deciding where to trade.
- Reduce risk. Accounts at more than one broker protects you from any issues with a particular firm. From issues as serious as insolvency, to smaller things, like website downtime, software issues or a market being closed – multiple accounts reduces your risk of being affected by any hardship a broker might face.
- Multiple offers. Each sign up can mean a new bonus, so it might be worthwhile taking up more than one account to receive all the offers. As ever, read the terms – and also note that on occasion, larger deposits might mean larger bonuses – so splitting them may not be the best choice.
- Spread winnings. Some brokers may look for winning traders on their books, with a view to restricting their trading, perhaps limiting trade size – or worse. While this threat is thankfully small, multiple accounts means spreading the winnings out. Most brokers will search for “winners” based on total profit rather than strike rate, so hiding the volume across broker accounts can help you stay below their radar.
Exchange versus OTC (Over the Counter) Brokers
A broker that offers an exchange is much closer to a traditional ‘broker’ than OTC brokers. An exchange performs the job of ‘middleman’. They will match a seller of an asset, with a buyer of the same asset, and charge a commission for putting the deal together. The market itself will decide the prices – if there are more sellers than buyers, the price will drift down until demand rises. If there are more buyers than those willing to sell, the option price will rise.
A broker operating an exchange does not mind who wins and who loses. They take no risk on the trade themselves (unless the traders are trading on credit). The broker will make their commission on the trade regardless of the outcome.
Due to this reduced risk for the broker, the returns for a winning trader are generally larger. Commissions are usually small relative to the size of the trade, meaning they do not impact the payout too much. Other benefits include the fact that stop losses can be applied, and also that trades can be closed at any time (to take a profit or reduce losses).
The complications with exchanges, comes from the structure. An exchange traded binary option will “trade” somewhere between 0 and 100. Where 0 is the figure used where an event did not occur, and 100 where it did. If the current price is currently 30, a ‘buyer’ would risk 30 times his trade size, to potentially win 70. A ‘seller’ therefore, would risk 70 to win 30. While not a complicated equation, it is slightly more complex than the straight forward over the counter option.
OTC (Over The Counter) Brokers
The most common type is the Over the counter (OTC) broker, but this type of firm is not really a ‘broker’ at all strictly speaking. They are the counter-party to one side of the trade. So where a trader opens a position, the broker will win or lose money, based on whether the trade wins or loses. Only where the broker has another trader who has made the exact opposite trade, will they have assured profits.
Due to this increased risk, the brokers will offer a lower payout which mitigates some of the risk they are taking. It is therefore likely to be lower than an exchange traded broker. Some firms will also have built in ‘hedging’ mechanisms to reduce risk further. In some cases, one side of trade might be made unavailable if liabilities get too large.
The simplicity of binary options is retained with OTC brokers. They have also made great strides in competing with exchanges by offering ‘cash out’ values for options, allowing traders to close positions early, and set up stop losses. Once those features become common the gap between OTC and exchanges will get smaller. For now, traders are better off trading on an exchange – but might be advised to learn the differences via demo account.
Have you had a problem with your broker? Submit a complaint
Deposit and withdrawal options do vary at each brokerage. Each of our reviews will explain which each firm offer, but below is a list of the most common options.
If you are looking for brokers that support a specific payment method:
- Wire Transfer
- Credit cards / Debit cards
All of the factors covered above will ultimately affect the way a trader plays the market, and therefore, their profitability. The ideal situation is to get a binary broker that offers:
- Several financial assets spread across several markets
- Offers a reasonable bonus with a good payout approaching 90%
- Offers flexible expiration dates without boxing traders into very long expirations.
Trading using a broker’s platform will only be enjoyable, and profitable, if you are using a reputable operator. You also need to choose one that suits your trading style best – only you will know what that is. Read the above binary broker reviews carefully before making that crucial trading decision, but remember you are not tied in to any single broker, and can pick and choose.
Choosing the best binary options brokers can be a nightmarish task for many. A lot of factors are involved in choosing a broker. However, this daunting task can save you from countless hours of frustration and losses.
Currently, there are thousands of online brokers. Among those, traders and investors try to get authentic information about brokers before investing with them.
Here, through this article, we will guide you how to choose the perfect broker that suits all your trading needs.
We realize that not everyone who visits us is a top trader. Ensuring all the necessary features, we will provide you the best binary options brokers for beginners.
To help you to choose the broker you can invest on. Currently, we compare every broker on the basis of important factors such as minimum deposit, minimum investment, regulation, demo accounts, asset index, payouts, mobile trading, and more.
We will discuss each of these factors in detail down below. Moreover, we rate brokers on each of these features and present you an overall rating.
Our reviews are unbiased and aim at giving you a clear picture on the broker. Because, we are very particular when it comes to recommending our readers.
Our reputation and goodwill depends on these recommendations so we leave no stone unturned in giving you the most accurate, up-to-date, and useful information.
Binary Options offers a versatile list of assets to trade such as forex, crypto, indices, stocks, and more. Hence when trading with these brokers, you get access to a vast array of trading assets.
Beside this, many binary options brokers are providing CFDs and Forex trading also. In the table below, is our list of binary options broker comparison table where you will find our list of recommended brokers that have earned our seal of approval.
Furthermore, we have a top broker section, where you will find only the best binary brokers. If you have any concern about any broker from our list, please get in touch with us.
Trading Platform Software
In today’s fast-moving world of technology, online brokers must be continually re-visit, update and develop their binary options platforms. When operating a trading platform, there is no time to stand still, so the race is on for each broker to offer you the best online experience.
Just a few years ago, it was enough for a broker or platform provider to focus on their desktop offering as trading was conducted mostly from a desktop computer. Today it’s more important to consider the experience across a whole range of tablets, laptops and smartphones via both websites and mobile apps.
If you have limited knowledge of software, trading or operating systems, then the jargon and options available when choosing the best binary trading platform may well be confusing. That’s where we come in. We’ve checked all the top brokers and shortlisted them for you. Saving you time trying to evaluate them for yourself.
In this article, you will learn:
What exactly binary options platforms are The things to consider when choosing one How a platform can directly impact profits
Various Types of Platforms
The platform is what makes the binary trading website work. It is powered by software which is specially developed to provide the multiple functions and actions of a website. In today’s technological environment it is designed for various uses and methods and for the different technologies that exist.
Website Based Platforms
With a web-based platform, you log onto your computer or laptop, and you open up a broker’s website. At this stage, you may want to use your demo account to get used to the site or the “trading platform” you are using. It is the way that the website is set up and the functionality it offers you to allow trading. What makes it a web-based service is that you are using it through a web browser; Chrome, Safari, Firefox etc.
Some brokers require you to download software to your PC before you can commence trading. It is not unusual or harmful; it just means your computer needs the components of the software stored locally to allow you to trade. While not a significant problem to your computer you do need to ensure that you are using a reputable broker and not a site that is posing as a trader to gather information of install viruses.
Mobile Specific Apps
Many traders no longer spend their time sat in front of computer screens; in fact, more and more people are turning to their handheld devices for more of their daily operations than ever before. To keep up with the demand for mobile consumption, most binary options brokers now offer a mobile-specific trading option. For many, this takes the form of either a mobile responsive website or an app. A good mobile app could be the deciding factor when it comes to which broker you select.
How to Choose a Platform
First of all, you need to consider how you will trade. Knowing your trading style will involve thinking about when you will trade, where you will trade and what you will trade. Will you be a part-time trader and conduct a few trades here and there or will you be more committed and look to make this a more consistent practice? Will you be at a desk or in front of your laptop or will you be operating on the move from a mobile device?
All this will have a significant impact on the platform you choose. If you decide to use both, then you will need to ensure that the broker offers everything you need for all eventualities. Have you thought about what assets you will trade? Some brokers provide certain assets; you need to ensure that they provide the type of trading that you are looking for and the functionality to succeed as you wish.
Once you have considered how and when you will trade you can narrow your decision to those brokers that offer the kind of trading experience that you desire. Knowing what you need makes it far easier to decide on the appropriate broker for you.
Platform User Tips
Familiarising yourself with a new binary options platform can take time, something you don’t always have the luxury of doing. We have put together a few platform user tips to enhance your trading experience.
Start by using the demo account! If you are new to trading, the demo platform will help you to quickly familiarise yourself with the broker before you start risking your own real money Minimise your deposits and withdrawals as they can cost you money. Each time you make a deposit or withdrawal, you could be charged a fee so the fewer you make, the better Choose an asset type that you feel more confident in trading. If you start trading on the outcome of the stock market when you haven’t got a clue about indices, then you may struggle. Stick to a more straightforward asset; gold is often a popular choice Start with simple options. Call/Put or High/Low options are much more straightforward than Ladder trades. Predict the outcome of a trade by merely predicting whether it will increase or decrease in price by a certain point Check if the platform has an app. If you are going to be trading on the move, then check that the broker offers an app before you open an account Avoid any unnecessary shocks. Reviewing the minimum trades and deposit is critical. If you make a deposit and then discover that the minimum trade was $25 when you were expecting it to be a lot less, then you may be in for a not so pleasant surprise
Carrying out research beforehand will make sure that you don’t get any nasty shocks when you come to trade. It will also help you to get more out of your trading experience if you use the demo account in the beginning.
There is no time to stand still, so the race is on for each broker to offer you the best online experience.
How we Rate Platforms
If you are new to binary options, you probably aren’t sure where to begin. You have to think about the various types of brokers and which one is right for you, the bonuses on offer and the overall experience itself. All this without considering what you will trade on, how much you will trade, when and how often.
Never fear as we are here to offer help and advice to make the decision-making process easy for you. Our advice and recommendations are based on extensive research by our team who have a wealth of knowledge and expertise in the binary options market. We have researched each broker and what they have to offer to bring you the best insight to assist your decision.
If you aren’t sure what you are looking for then reading about the binary options platform providers in our reviews and guides available will highlight the points that need considering. We may help you to devise a shortlist which then allows you to test those brokers and get used to the look, feel and functionality of the website before committing to opening an account. A no deposit bonus account is a great way to test the various brokers as you can start to use the trading platform without parting with any money.
Frequently Asked Questions
Is one platform more reliable than another?
Yes, there is the good and the bad. The overall experience is significant, and you need to ensure that the platform that you are using is consistent and offers an excellent investing environment.
How do I find the best trading platforms to use?
Choosing one of our recommended brokers and you can be confident in their platform. Our reviews of the critical aspects of trading include the viability of the platform and the experience it offers.
Can I use a demo account on any platform?
Some of them are available to anyone whether you make a deposit or not, but most brokers expect some commitment in the form of a deposit to take advantage of this feature.
Are all trading platforms safe and secure?
Like with any aspect of options trading the safety and security is down to the individual broker and whether or not they are reliable and trustworthy, so Check out our recommendations for peace of mind.
Do the same bonuses exist on all platforms?
No, the binary options bonuses offered are down to the individual broker. Common bonuses are welcome bonuses, deposit match bonuses and no deposit bonuses.
Jacob has been an author for us since our launch in 2020. He has over forty years’ experience in the financial sector and has held a variety of positions within financial services corporations and venture capitalist organisations.
Best Binary Options Broker!
Perfect Choice For Beginners and Middle-Level Traders!
Free Demo Account! Free Education!