Binary Options Brokers

Binary Options Brokers

Trading binary options has become popular in the US ever since 2008. In 2008, the SEC approved trading binary options in the United States. Since then, we have had tons of brokers that claim to be the best. Before you grab any broker, I will teach you what to look for before you do it. There are so many elements to being a good broker, so please stick with me.


Broker Comparison Criteria

A broker would give you a trading platform that belongs to him. This platform is the middleman between “you” and the “exchange.” Knowing this, you should always compare brokers based on only the services they offer you. No more. No less. Along with that, there are some other criteria you check to get an all-around decision.

  • Trade everything

    Some brokers allow you to trade everything, while others limit your trading options. Of course, your options will be limited if you choose the wrong broker. Brokers offer many types of trading; boundary, ladder, touch, pairs, and more.

  • Compare the other factors

    So brokers have different trading costs, bonuses, environments, and payouts. Compare all these before you choose your trade.

  • Not provide flexible expirations

    Some shady traders do NOT provide flexible expirations. Instead, they will get you stuck in a deal with long expiration dates. Just Beware!

  • Minimum deposit

    Look at the minimum deposit brokers allow. It can range anywhere from five dollars to two hundred fifty dollars.

  • Demo account

    Check if the broker allows a demo account facility for testing.

  • Customer support

    Make sure your broker has customer support. Some don’t have any, and others have 24 Hr instant support.

  • Brokers regulation

    Check if these brokers are regulated. If they are, research the authority.

The best scenario is this. You would get a secure trading platform, numerous bonuses, and a 90% payout rate. Along with that, make sure your broker has good flexibility for trade expiration.

How Do Brokers Make Money?

How Do Brokers Make Money?

As I said, the broker is the middleman. So, how do they make money? Firstly, they get a margin of an OTC trade by simply being a counterparty. The margin is significant mainly because both sides are hedged. The broker does have protection in case he wouldn’t get enough margin. Secondly, they make money from being the middleman. They charge a commission for matching the buyers and sellers. The commission is an amount inside the transaction. The tighter spread in buy and sell prices makes your trading cheaper.

Should You Use Multiple Brokers?

There are so many brokers in the market, and they all have different features.

  • Some brokers are only good at short-term trades

    Some brokers are only good at short-term trades, while others excel at boundary trades. In this case, you would want two accounts to benefit from both.

  • Open lots of demo accounts

    You might open lots of demo accounts with different brokers to get experience. People do this to train before they get into the real trading world.

  • Help you protect yourself

    Having accounts with multiple is the same as having your eggs in different baskets. If one loses money, you have it diversified enough.

  • Opening accounts with multiple traders

    You would get various signup bonuses from opening accounts with multiple traders. In other cases, large deposits will give you rewards. So if you are depositing large amounts to get a bonus, having multiple accounts may not be for you.

Exchange VS Over-The-Counter Brokers

Exchange Brokers
OTC Brokers
They are middlemen
They are counterparty, not brokers.
They connect buyers and sellers.
They are counterparty to open trade positions.
They get paid if you win or lose.
The brokers don’t win until a trade wins.
Reduced risks make trader returns high.
Lower payouts due to higher risk

How To Choose The Correct Trading Platform

You NEED to assess a lot of factors before choosing a broker. Some of them are listed below.

  • Financial assets

    Choose based on the financial you want to trade. Some brokers may not offer the one you are interested in trading.

  • Fee from the payouts

    Brokers will take a fee from your payout. Usually, this is around 10-15%. So make sure you choose one that will maximize your profits.

  • Minimum deposits criteria

    Brokers sometimes set outlandish minimum deposits. Just get one that offers a reasonable minimum.

  • Demo accounts facility

    Ensure that trader allows demo accounts. It is a testing facility for you to practice trading.

  • Respective laws

    Lots of countries regulate their brokers. So make sure the broker you choose is up to snuff. I would hate for you to get legal complications.

  • Various payment options

    Brokers offer many different methods of payouts. Be sure the payout options are secure: and you are comfortable with them.

  • Instant withdrawals of payouts

    We live in an instant. Confirm that the broker you choose allows instant payouts. It will be so much better in the long run.

  • Trading apps

    We are all busy and can’t always use our laptops for trading. Make sure the platform you choose has an IOS and Android app.

The Financial Market Regulatory Bodies

There are a lot of restrictions on the financial market. The regulatory bodies from other countries make these rules. They regulate the brokers and help protect us as traders. They can legally provide help if you have a dispute with a trader. Some of the regulatory bodies are:

  • ASIC

    Australian Securities and Investments Commission in Australia (ASIC)

  • CFTC

    Commodity Futures Trading Commission in the United States (CFTC)

  • FCA

    Financial Conduct Authority in the UK (FCA)

  • CySec

    The Cyprus Securities and Exchange Commission in Cyprus and the EU (CySec)

  • FSB

    Financial Services Board in South Africa (FSB)

I would recommend getting a regulated broker. They are more reliable, and they can ensure your protection.

How To Spot The Most Reliable Broker

You should ensure the broker does what it “says” and has reviews. A lot of brokers are scammers and take your money. When you spot a reliable, use it. These factors can help spot a reliable one.

  • A Regulatory Authority

    A Regulatory Authority

  • Free Demo Account

    Free Demo Account

  • Funds Security

    Funds Security

  • Reasonable Minimum Deposit

    Reasonable Minimum Deposit

  • No Hidden Fees

    No Hidden Fees

  • 24/7 Support

    24/7 Support

  • Fair Payouts

    Fair Payouts

  • Faster withdrawals

    Faster withdrawals

Binary Options Brokers Compared

Now that you know what is in a good broker, we will compare the top ones for you. You will see the details and features of each broker in this list.

Binary Options Broker

  • Gembell Limited manages the pocket Option broker. It started its operations in 2017 and has its registration in the Marshall Islands.

    • Tradable assets – Pocket provides tons of assets to trade. These include currency pairs, cryptocurrency, raw materials, binary options, etc. The total is more than 100 tradeable assets.
    • Max Payouts – This broker offers a 95% payout
    • Demo Accounts – Pocket offers demo accounts for new traders. These accounts have $10,000 virtual funds to learn to trade.
    • Country Restrictions – Pocket does not accept users from Israel, EEA countries, the USA, and Japan. Don’t ask why.
    • Deposits – You can start with as little as $50. Start small and work your way up.
    • Withdrawals – Pocket offers super easy withdraws. You can pull your money through bank transfer, crypto, plastic cards, and e-wallets. You can withdraw funds as low as $10
    • Leverage – It gives you reasonable trading leverage. This variable leverage ranges from 1:1 to 1:1000.
    • Trading Apps – Pocket has mobile apps for both IOS and Android. You could then easily trade from your phone
    • Broker Regulation – Gembell Limited manages Pocket’s regulations. Pocket has registered with the International Finance Market Relation Regulation Center (IFMRRC)
    • Trading Platform – You can trade through multiple endpoints in Pocket. The ost used includes the website, the Telegram Bot, the Mobile Apps, and Meta Trader 5. Meta Trader 5 can do many advanced functions related to trading. Plus, the platform offers a 2-factor auth and SSL cert. These ensure security and safety.
    • Bonuses – Pocket offers a significant 100% deposit bonus with a caveat. Your trading has to profit 50x to withdraw the bonus.
    • Advantages – Below are the main advantages.
      • Its trading platform is safe and secure and provides versatile facilities for traders

        The platform is safe and secure

      • It offers trading in 100+ financial assets

        Many assets to trade (100+)

      • It provides a demo account facility

        Demo Account allowed

      • It offers deposit bonuses to encourage new traders

        Deposit bonuses for new traders

      • It ensures a 24/7 professional support system

        24/7 support year-round

      • It does not charge any fees for deposits and withdrawals

        Zero deposit and withdrawal fees

    Start trading Read review
  • IQ is an older and more experienced option. This company started in 2012.

    • Tradable assets – This is a multi-asset trading firm. You could trade digital options, binary options, CFDs, ETFs, forex, and stocks. In total, they have more than 300+ tradeable assets.
    • Max Payouts – IQ also has an excellent max payout of 95%
    • Demo Accounts – You get a free demo account with $10,000 virtual funds. If you run out of this, you can easily refill it. The goal is to learn how to trade.
    • Country Restrictions – The following countries restricted are: Australia, the USA, Canada, Belgium, Turkey, Japan, Israel, Iran, Syria, Russia, and Sudan. These countries are not allowed. Sorry!
    • Deposits – You get a $10 minimum deposit with a regular trading account. If you had a VIP account, your minimum would be $3000. I would recommend the lower options for beginners.
    • The withdrawals – You can withdraw as low as $2 anytime. Keep in mind that the daily withdrawal limit is $1 Million. You can send the money almost anywhere including, QIWI, VISA, Mastercard, Maestro, Neteller, Skrill, Webmoney, Bank Transfer, Western Union, and MoneyGram. The withdrawal will only take a day or less.
    • Leverage – The leverage maximum for European traders is 1:30. Contrast this to the forex max trading leverage of 1:1000.
    • Trading Apps – They have an app for IOS and Android to do trading. You even get the entire set of trading tools from this free app
    • Broker Regulation – IQ has been solely regulated by Europe CySE.
    • Trading Platform – IQ, like most software, gets updated quite often. So not only does this provide a better trading experience, but also it suits all the trader’s growing needs.
    • Bonuses – Unlike some others, IQ does not give extras. Their regulators have passed a new law against it.
    • Advantages – Top advantages include:
      • Regulated under CySEC

        CySEC regulated

      • It provides a free demo account

        Free demo account

      • It provides access to 500 various instruments

        500+ trading instruments

      • It provides 24/7 support

        24/7 fast support

      • It allows a minimum deposit of $10 and minimum trade amount of $1

        $10 minimum deposit; $1 minimum trade

      • Very reliable and trustworthy platform

        A trustworthy and reliable option

    Start trading Read review
  • Cypriot Finacial Holding owns and manages Quotex. Cypriot is a certificate authorized by the Center for Regulation of Financial Markets Relation (CROFR). The company itself resides in Seychelles. Quotex offers advanced trading indicators and plenty of trading assets

    • Tradable assets – Right now, Quotex Offers 25+ currency pairs, plus cryptos including Bitcoin and Ripple. You could also trade commodities like Gold, Silver, and Oil.
    • Max Payouts – Quotex offers a generous 97% payout rate. This rate is one of the best rates you can get.
    • Demo Accounts – You get a free demo trade account with 10,000 units to test trade. You could also trade currency pairs.
    • Deposits – You can start as low as $10 with your trading. You could deposit through Bitcoin or use e-payments like Perfect Money, Yandex, and many more
    • Withdrawals – You can withdraw to the exact method that deposited the money, or you could pull it to your e-wallet or bank account. The beauty of withdrawing is that it only takes 1 hour or less.
    • Advantages – Some of the top features are below.
      • It offers enhanced safety and security, and the data leakage risk is left behind

        Secure and safe. No data leaks

      • It has more than a dozen technical indicators for trading with charts and provides a universal trading platform

        Lots of technical indicators. Advanced universal platform

      • Quotex has an easy trading platform, and access to it is quick and fast

        Easy to use. Quick and fast

      • It has a multilingual customer support system that offers 24/7 service

        24/7 support with multiple languages

    Start trading Read review
  • Binomo, being very client-focused, makes it a popular choice. Binomo was founded in 2014 and has tons of trading tools. These tools make for winning trades and quality investments

    • Tradable assets – Binomo will give you more than 70 trading assets. These include currencies, asset pairs, stock indices, and commodities.
    • Max Payouts – Binomo offers a mediocre payout max at 87%.
    • Demo Accounts – This broker gives an accessible test trading facility for those learning to trade. These facilities have $1,000 of virtual money that you can refill at any time.
    • Deposits – The are three different account types with minimum deposits. The standard account has a minimum deposit of only $10. If you want to go higher, you could choose the Gold or VIP type. The Gold has a minimum of $500, and the VIP has a minimum of $1000.
    • Withdrawals – The withdrawal time is dependant upon the account type you choose. The times go in order starting with Standard (3 days), Gold (24 hours), then VIP (4 hours). You can withdraw to tons of companies. I will list some of them starting with Alpha Click, WebMoney, Neteller, QIWI, Yandex Money, Epayments, and Promsvyazbank.
    • Trading Apps – Binomo gives you options to trade on your phone and tablet. Apps include support for IOS ad Android too.
    • Broker Regulation – Binomo is regulated by the “Center for Regulation of Financial Market Regulation” (CROFR).
    • Trading Platform – Binomo has a trading platform named SpotOption. This platform works great for trading and investing for beginner or experienced traders.
    • Bonuses – Binomo can give you up to 110% in bonuses: but this depends on your account type. A Standard account gives a bonus for each refill of a deposit. If you have a Gold or VIP account, you get up to a 100% bonus.
    • Advantages – Below are the primary advantages.
      • Trading instruments

        More than 70 assets to trade

      • Different option types

        Different trade options: Binary, Pair, Long Term, Touch, and 60 Seconds

      • Deposit bonuses

        Up to 110% deposit bonus

      • It provides a demo account facility

        Free demo trading account

      • Trading platform

        SpotOption platform: Easy to use, Client-friendly

    Start trading Read review
  • Smartex International owns Olymp trade. They are based in Russia and started the platform in 2014.

    • Tradable assets – Olymp offers most assets like stocks, indices, currencies, commodities, and currency pairs.
    • Max Payouts – Olymp offers a decent payout rate of 90%.
    • Demo Accounts – Olymp gives you a free test account to learn to trade. This account has $10,000 in virtual funds.
    • Deposits – You can make a deposit as low as $10. Also, Olymp only carries one type of trading account.
    • Withdrawals – You can withdraw as low as $10. It takes up to 5 days to complete withdraw.
    • Trading Apps – Olymp does offer apps for Android and IOS.
    • Broker Regulation – (CROFR) and (FINACOM) regulate Olymp.
    • Trading Platform – Olymp Trade is the platform used by Olymp. This platform is adaptable to all screen resolutions making everything convenient.
    • Bonuses – If you start new with Olymp, you get a 100% trading bonus. Note: New Traders Only
    • Advantages – I will list the main ones here:
      • Adaptation to different screen resolutions

        Olymp Trade is a convenient trading platform

      • Its welcome bonuses are up to 100%.

        100% sign up trade bonus

      • Regulated under FINACOM

        FINACOM regulation

      • It provides a demo account facility

        Demo Accounts allowed

      • The broker keeps the deposits with the European bank

        Broker (Olymp) keeps funds in a European Bank

    • Demerits – There are a few disadvantages here:
      1. Only 13 trading assets. You can only trade a single one at a time.
      2. You can only get a demo account after you register.
    Start trading Read review
  • Expert registered in the United Kingdom since 2015.

    • Tradable assets – Expert Gives you 100+ assets to trade.
    • Max Payouts – You will get a 90% payout in your trading.
    • Demo Accounts – New traders get a free test trading account.
    • Country Restrictions – Expert is not allowed in these countries: Switzerland, Israel, Australia, New Zealand, European Economic Zone, Japan, Puerto Rico, Sudan, North Korea, Canada, and the USA.
    • Deposits – You can start with a deposit of $10. You can then add $50 to replenish the account. They allow you to deposit with 20+ payment methods: Neteller, Perfect Money, Fastpay, etc.
    • Withdrawals – Expert offers a minimum withdraw of $50. Withdrawals take two days and require document identification.
    • Trading Apps – Expert has apps for literally all devices. These include Windows, Mac, IOS, and Android.
    • Broker Regulation – Vanuatu Financial Service Commission regulates this company.
    • Trading Platform – The platform’s name is ExpertOption. This platform is very similar to IQOption and Olymp Trade.
    • Bonuses – Deposit bones can reach 50%, but that depends a lot on the type of user account.
    • Advantages – The main benefits are:
      • Demo account facility

        Free Demo Account

      • Technical tools for extensive analysis

        Analysis tools

      • Russian Federation certified broker

        Russian Federation Certified

      • Minimum deposit

        Minimum deposit: $10

    The downside to Expert is the limited trading options.

    Start trading Read review
  • Binarium was founded in 2012 as the best platform for multilingual traders.

      • Tradable assets – Binarium has many asset types like indexes, shares, binary options, and currency pairs.
      • Max Payouts – You get a payout of up to 93%.
      • Demo Accounts – New traders get a free demo account.
      • Deposits/Withdrawals – The minimum deposit is $5, but the withdraw depends on the deposit amount.
    Account TypeDeposit AmountWithdrawal
    Start$5-99One $200 request a day or $1000 per month
    Standard$100-499.99Two $500 requests a day or $2500 per month
    Business$500-1,999.99Five $1,000 requests per day or $20,000 per month
    Premium$2,000-4,999.99Five $5.000 requests per day or $50,000 per month
    VIP$ 5,000+Unlimited $15,000 requests per day or $100,000 a month
    • Broker Regulation – Binarium is regulated by CySEC and CROFR.
    • Trading Platform – This trading platform brings you enhanced niche features for the best trading.
    • Bonuses – You will get a trade back as a trading bonus. The amount is 5% and 10% in Standard and Business accounts.
    • Advantages – The best advantages are:
      • A unique trading platform

        Enhanced trading platform

      • Available training materials

        Learning and training material

      • Several financial assets for trading

        Great trading assets

      • It offers minimum deposits and insurance for transactions.

        Minimum deposit and transaction insurance

    Start trading Read review
  • FinRally focuses on data protection. They are international and use enhanced technology. Features:

    BonusUp to 100%
    Trading PlatformSpot 2.0
    Min Deposit$250
    Min. Trade Price$10
    Start trading Read review
  • Cent Project Ltd. owns Binarycent. Features:

    InstrumentsBinary Options & Crypto
    Min Deposit$250
    Min. Trade Price$0.01
    Start trading Read review
  • Race projects own the Race Option platform.

    • Tradable assets – Race has many instruments like currency pairs, crypto, shares, and stock indices.
    • Max Payouts – 80% is the average payout.
    • Demo Accounts – All new traders can get a free demo account.
    • Deposits – The minimum deposit depends on the trading account. For example, you have Bronze ($250), Silver ($1000-$2000), and Gold ($3000).
    • Withdrawals – One-hour fast withdrawal to any top payment providers.
    • Trading Apps – Race has IOS and Android apps.
    • Broker Regulation – Race Option has no apparent regulators.
    • Trading Platform – Race has an easy access trading platform. You would get a technical and economic analysis.
    • Bonuses – You will get a 20-100% bonus on the trading account.
    • Advantages – RaceOptions benefits:
      • High-speed withdrawal request processing.

        High-speed withdrawals

      • Different payment methods for replenishment

        Many withdraw methods

      • 24/7 customer support service

        24/7 customer support

    Start trading Read review
  • BinBot features:

    Min. Trade Price$1
    InstrumentsCurrency pairs, binary options,


    Min Deposit$250
    Start trading Read review
  • Nadex belongs to the IG Group in London. Features:

    Trading PlatformNadex
    InstrumentsStock Indices, currency pairs & Crypto
    Min Deposit$250
    Start trading Read review
  • This broker has a robotic trading system. They launched in 2017. Features:

    Min. Trade Price$0.1
    Trading PlatformAutomatic Robot Trading Centobot
    Min Deposit$250
    Start trading Read review
  • Spectre allows traders to open purses on resources and contracts to regulate transactions. Features:

    Min. Trade Price$1
    InstrumentsBinary Options, shares, commodities,

    currency pairs and crypto

    Min Deposit$1
    PayoutsYes (100%)
    Start trading Read review
  • This broker is browser-based, which makes it very easy to use. Features:

    RegulationFINRA & SIPC
    Trading PlatformETNA white label program

    Metals & raw materials.

    Equities & options

    Min Deposit$500
    Start trading Read review
  • LCG has its shares on the London stock exchange. They have 20 years of experience and are trusted. Features:

    RegulationCySEC & FCA
    Min. Trade Price$0.01
    Trading PlatformMT4 & LCG Trader
    InstrumentsCurrency pairs, indices,

    Bonds, ETFs, CFD

    Min Deposit$100
    Start trading Read review
  • Ally started in 2016. Features:

    RegulationFINRA & SIPC
    Min. Trade Price$0.01
    Trading PlatformMT4 & Ally Invest Forex
    InstrumentsFutures, currency pairs,

    Indices, stocks

    Min Deposit$1
    Start trading Read review
  • This broker has 40 years of experience in this industry. Features:

    RegulationNFA, FINRA & SIPC
    Min. Trade Price$1
    Bonus60 days free maintenance

    $ 600 for advertising

    Trading PlatformTrade Architect, Web Platform and Thinkorswim
    InstrumentsCurrency pairs, indices,

    Bonds, ETFs

    Min Deposit$50
    PayoutsYes (83%)
    Start trading Read review
  • This broker was started in the 70s. Features:

    Min. Trade Price$1
    Trading PlatformTWS, IBot, IBKR Mobile, IBKR API
    InstrumentsCurrency pairs, indices,

    Bonds, CFDs,futures,stocks, etc.

    Min Deposit$2000
    Start trading Read review
  • E-Trade has been going since 1996 with efficient hardware. Features:

    RegulationFINRA, SIPC
    Min. Trade Price$0.01
    Trading PlatformE*Trade Pro, E*Trade FX,, Market Trader and OptionsHouse
    InstrumentsCurrency pairs, indices,

    Bonds,ETFs,futures,stocks, etc.

    Min Deposit$500
    Start trading Read review
  • This broker originates in Russia but claims the UK.

      • Max Payouts – Intrade Bar offers 84% payouts.
      • Demo Accounts – Free demo testing account.
      • Deposits – Minimum deposit of $10 through most top payment methods.
      • Withdrawals – Withdrawals have a significant 8% fee.
      • Broker Regulation – At the moment, no regulator is over the broker.
      • Trading Platform – InTrade lacks the advanced tools of some brokers.
      • Advantages/Disadvantages – Tops ones are listed below:
    Low deposits and small betsLight to no regulation
    Tons of payment methodsPayouts are not high
    Free demo accountHight withdrawal fees
    Start trading Read review
  • This broker started in 2016. Features:

    Min. Trade Price$1
    InstrumentsFinancial assets

    Exotic cryptocurrencies

    Replenishment/Withdrawal methodsOKPay,

    Payeer, Yandex

    Min Deposit$1
    Start trading Read review
  • This broker started in 1971. Features:

    RegulationSIPC & FDIC
    Min. Trade Price$50
    Trading PlatformStreetSmart Edge
    InstrumentsBinary Options, CFDs,

    Stocks, Recious metals

    Min Deposit$1000
    Start trading Read review
  • Saxo is a well-known bank from Denmark. Features:

    RegulationDanish Financial Supervision Authority
    Min. Trade Price$0.01
    Trading PlatformSaxoTraderGO&SaxoTraderPRO
    InstrumentsCurrency pairs, indices,

    Bonds, CFDs, etc.

    Min Deposit$10,000
    Start trading Read review
  • OptionClub started in 2013. Features:

    RegulationNetherlands Authority for the Financial Markets (AFM)
    Min. Trade Price$1
    InstrumentsCurrency pairs, indices,

    stocks, raw materials,

    binary options, etc.

    Min Deposit$50
    Start trading Read review
  • This broker is based in Georgia. Features:

    RegulationNot regulated
    Trading PlatformCloseOptionTrading Platform
    InstrumentsForex, binary options,

    Cryptocurrencies, etc.

    Min Deposit$5
    Start trading Read review
  • Easy Option will make you money from Binary and crypto. Features:

    Wallet ReplenishmentPossible through Multichain-wallet imToken, MetaMask&MyEtherWallet.
    Start trading Read review
  • This broker was the first to give binary services in Kyrgystan. Features:

    Min. Trade Price$0.07
    InstrumentsCryptocurrencies, stocks, indexes.
    Min Deposit$0.07
    Start trading Read review
  • They use the EtherZero blockchain for exchange and practical work. Features:

    Trading PlatformDecentralized Platform
    PayoutsYes (175%)

    The financial guarantor is a cryptomonetEtherZero. The change in resource value within a specific time interval can give the trader a decent payoff.

    Start trading Read review

*General Risk Warning: Your capital might be at risk


Do your research on the best one for your scenarFirst, makeMake sure you know all the requirements, caveats, and features of each one you consider. Then, after you have evaluated everything, choose the one you think fits you well.