10 best Binary Options Brokers compared: Reviews 2024
Table of Contents
Are you searching for a reliable Binary Options Broker? – Then you are right on this website, we show you a list of the 10 best trading platforms for digital options. Binary Options (Wikipedia link) have pros and cons, but what is more important is to find a good Binary Options Broker. See the list below for our detailed comparison.
See the full list of the 10 best binary options brokers here:
Binary Options Broker: | Review: | Return on Investment: | Available Markets: | Advantages: | Account: |
|---|---|---|---|---|---|
1. Pocket Option  | 95%+ | 100 assets+ (Crypto, forex, indices, commodities, stocks) | Live account from $ 50(Risk warning: Your capital can be at risk) | ||
2. Quotex  | 95%+ | 100 assets+ (Crypto, forex, indices, commodities, stocks) | + Signal platform + New broker + Crypto payments + Bonuses + Accepts international clients + Regulated by IFMRRC | Live account from $ 10 (Risk warning: Your capital can be at risk) | |
3. IQ Option  | 94%+ | 300 assets+ (Crypto, forex, indices, commodities, stocks) | + Good platform + Best support + Highest yield + Multiple payment options | Live account from $ 10 (Risk warning: Your capital can be at risk) | |
4. Deriv.com  | Up to 94%+ | 100 assets+ (Crypto, forex, indices, commodities, stocks) | Live account from $5(Risk warning: Your capital can be at risk) | ||
5. Expert Option  | Up to 90%+ | 100 assets+ (Crypto, forex, indices, commodities, stocks) | Live account from $ 50(Risk warning: Your capital can be at risk) | ||
6. Binomo  | Up to 90%+ | 60 assets+ (Crypto, forex, indices, commodities, stocks) | Live account from $10(Risk warning: Your capital can be at risk) | ||
7. Olymp Trade  | Up to 92%+ | 100 assets+ (Crypto, forex, indices, commodities, stocks) | Live account from $10(Risk warning: Your capital can be at risk) | ||
8. Binarium  | Up to 92%+ | 50 assets+ (Crypto, forex, indices, commodities, stocks) | + Accepts any clients + Bonus program + No fees | Live account from $ 5(Risk warning: Your capital can be at risk) | |
9. BinaryCent  | Up to 90%+ | 100 assets+ (Crypto, forex, indices, commodities, stocks) | + Accepts any clients + Bonus program + Trade with cents | Live account from $ 250(Risk warning: Your capital can be at risk) | |
10. RaceOption  | Up to 90%+ | 100 assets+ (Crypto, forex, indices, commodities, stocks) | + Accepts any clients + Social trading + Free gifts | Live account from $ 250(Risk warning: Your capital can be at risk) |
(5 / 5)
(4.8 / 5)
(4.7 / 5)
(4 / 5)
(3.8 / 5)With more than 9 years of experience in the financial markets, we know exactly how to spot a reputable trading platform. Inform yourself about the 10 best brokers and their characteristics. Should you invest your money in Binary Options? – Find it out.
See the list of the best binary options brokers:
- Pocket Option – Accessible from every country and highest return
- Quotex – New and innovative platform with trading signals
- IQ Option – Good platform overall
- Deriv.com – Support automated trading
- Expert Option – Good for short-term trading
- Binomo – Trading tournaments
- Olymp Trade – Good education
- Binarium – Simple interface
- BinaryCent – Trade with cents only
- RaceOption – High bonuses
Detailed comparison of the 10 best Binary Options brokers:
We tested every Binary Options Broker that we publish on this website in detail. In the next section, we will give you a deeper look into the trading platforms. You will get first-hand experience and if you want to read more information, you can visit our full review of the companies. The Binary Options Brokers are listed after your review conclusions.
1. Pocket Option
We have already made a lot of trading videos with Pocket Option on our Youtube channel. It is a reliable binary broker that accepts all types of clients from every country. The platform is very user-friendly and has many different trading features. Binary Options and forex trading is offered with a minimum deposit of $50. Also, you can join the platform with a free demo account.
Pocket Option is a new broker that knows how to attract new customers. The return on investment can be up to 95%+, and a free achievement program exists. You can earn gifts by trading on the platform. Also, a bonus program is offered for every deposit and trader. You can double your deposit to make more profit.
You can trade forex, cryptocurrencies, stocks, and commodities with one click. From our experience, the execution of trades is at its best. Another good feature is the social trading function. You can copy other traders. In conclusion, Pocket Option is a very interesting broker with many opportunities.
The conditions for Pocket Option traders:
- International offshore broker
- Highest return of 95%+
- Accepts every client
- Regulated by the IFMRRC
- More than 100 assets
- A minimum deposit of $50
- Free demo account
- Free bonus program
- Social Trading
- Support 24/7
- No fees
(Risk warning: Your capital can be at risk)
2. Quotex
Quotex is a new Binary Options Broker founded in 2020 and based on First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St. Vincent und die Grenadinen. The website is managed by “Maxbit LLC”. The broker comes with an in-house trading platform for digital options. It is a very user-friendly interface and is good for beginners. In addition, for mobile traders, there is an App for Android and iOS available.
You can start with a small minimum deposit of $ 10. The minimum withdrawal amount is $ 10 too. There are no additional fees for your deposits and withdrawals. With Quotex you will get access to more than 100 different markets. The platform is running 24 hours per day, and even trading on the weekend is possible.
Quotex is not regulated, but it seems like a reliable online broker. On the internet, we did not find any negative reviews about the platform.
You can enjoy bonuses, contests, and social trading. The yield can be up to 90%+ per trade and the minimum trade amount is only $ 1. For deposits and withdrawals, credit cards, online wallets, and cryptocurrencies are available. Furthermore, the broker accepts international clients and the platform is available for everyone.
The advantages of Quotex:
- New online broker founded in 2020
- Free demo account
- Very fast account opening
- Accepts international clients
- A low minimum deposit of $ 10
- Minimum trade amount of $ 1
- User-friendly platform
- More than 100 assets to trade
- Yield up to 95%+
- Free bonuses
(Risk warning: Your capital is at risk)
3. IQ Option
In our list IQ Option is one of the best Binary Options Brokers. This platform can offer a phenomenal service for the trader. For many years the brand is well known in the industry. It is a well-known company that is acting internationally, and international clients are accepted.
You can start with a low minimum deposit of $10 or a free demo account. It is possible to trade more than 300 markets on the platform. There are binary options, digital options, forex, CFDs, stocks, and ETFs. It is a multi-asset brokerage. Moreover, the return on investment is very high and up to 95%+. The company also offers VIP accounts to get more returns.
What makes IQ Option so unique? – It is the perfect trading platform. You will get very nice handling which you will not get on other platforms. Watch more than 100 education videos and chat with other traders. Also, there is 24/7 support in different languages. Overall, IQ Option has the best features for binary trading.
Conditions for IQ Option traders:
- Well-known broker and company
- Multi-asset brokerage
- Trade binary options, forex, stocks, ETFs, CFDs, and more on one platform
- In comparison, the best trading platform with the most features
- Free demo account with $10.000
- A low minimum deposit of $10
- No hidden fees
- 24/7 support for traders
- Free education for traders
(Risk warning: Your capital can be at risk.)
4. Deriv.com
Deriv.com (brand by Binary.com) is the oldest broker for Binary Options and has been active since the year 2000. It is also an international company which got different regulations around the globe. Binary.com invented online trading for Binary Options and offered a professional trading platform. If you want to start to trade, you can use the free demo account or start with a minimum deposit of $5.
What is so special about this broker? – There are many opportunities to invest in the platform. You can trade options, forex, and CFDs. More than 100 different assets. Binary.com is the only broker for Binary Option which supports automated trading. You can create a bot by yourself on the trading platform and let it run.
The return on investment can be up to 100% and the spreads are very low for forex trading. Beginners can enjoy educational tutorials for each platform of Deriv.com. The platform is available for any device. Furthermore, the broker support trading with the popular software MetaTrader 5. All in all, Deriv.com is a reputable broker for binary trading.
The conditions for Deriv.com traders:
- Popular broker since 2000
- Multi regulated company
- Accepts international traders
- Free demo account
- The minimum deposit is only $5
- More than 100 markets to trade
- Forex, CFDs, stocks, commodities, and more
- Return on investment up to 100%
- Multi-platforms
- Supports automated trading (bot)
- MetaTrader 5
- Support in different languages 24/5
(Risk warning: Your capital is at risk)
5. Expert Option
Expert Option was founded in 2014 and offered Binary Options trading on more than 100 assets. The company is based in Saint Vincent. It is a regulated broker by the Vanuatu Financial Service Commission (VFSC). Expert Option makes a good impression on us because of the professional trading platform. With one click, you can create a free demo account with $10,000.
The minimum deposit starts from $10 and if you deposit more money, you can get a higher account type up to platinum. The return on investment is up to 90% and depends on the market situation. For example, by using the platinum account ($5,000) you get an increased profit of 4%. The platform is only for short-term trading with a maximum duration of 5 minutes. This is a little disadvantage for us.
Another special feature of the platform is a social trading function. You can follow other profitable traders to make a profit. Furthermore, educational material, webinars, and analyses are offered for free by Expert Option. All in all, Expert Option is a safe and recommended broker for trading.
The conditions for Expert Option Traders:
- Binary Options Broker since 2014
- Regulated by the VFSC
- Free demo account
- A minimum deposit of $10
- Only short-term trading
- More than 100 assets
- Return on investment up to 90%
- Account types
- Social Trading
- 24/7 support
- Education and training for traders
(Risk warning: Your capital is at risk)
6. Binomo
Compared to Quotex the Binomo trading platform is also very popular for investing with Binary Options. The company is based in St.Vincent and the Grenadines and is regulated by the International Financial Commission with “Category A”. For many years the broker is active and provides trading services for its clients. In addition, the platform is evolving and new features are added time by time.
For traders who want to start with Binomo, there is a free demo account with $1,000 virtual money. The minimum deposit is only $10 and you can use different payment methods. There are no hidden fees for you. For investing Binomo provides up to 49 different markets, and the yield can be up to 90%. In our comparison, Binomo doesn’t have the most variety of markets and the highest yield but it is a competitive broker.
The conditions for Binomo traders:
- A regulated company by the IFC with the category “A”
- Accepts international traders
- Free demo account
- The minimum deposit is only $10
- More than 49 markets to trade
- Forex, CFDs, stocks, commodities, and more
- Return on investment up to 90%
- Multi-charting is available
- Different account types with benefits
- Bonus program for deposits
- Events and tournaments
- Support in different languages 24/7
(Risk warning: Your capital is at risk)
7. Olymp Trade
Olymp Trade is one of the biggest online brokers for fixed-time trades. But the company does not accept traders from the European Region, USA, India, and some other countries. Its main customer base is in Africa and Asia. Olymp Trade is based in St. Vincent & the Grenadines and is regulated by the Financial Commission. Since 2014 the broker has been a very active platform for investing in several markets.
With Olymp Trade you can start with a small $ 10 minimum deposit. The minimum trade amount is $ 1. For deposits and withdrawals, you can use multiple methods (depending) on your country of residence.
More than 100 different assets are available on the platform. In addition, the broker offers a first-time deposit bonus of up to 100% or more if you want to start trading. Invest in rising and falling markets to earn a high yield. Fixed-time trades and forex trading is offered. The yield can be up to 92% and is depending on your account type. For new traders, there is a big education center. Also, the broker supports its clients through live analysis and webinars.
Advantages of Olymp Trade:
- Modern and reputable platform
- Free demo account
- A low minimum deposit of $ 10
- Fast deposits and withdrawals
- No payment fees
- Offers fixed-time trades and forex trading
- MetaTrader 4 available
- More than 100 different markets
- Yield up to 92%+
- Free bonuses
- Good educational stuff
(Risk warning: Your capital is at risk)
8. Binarium
Binarium is an unregulated Binary Options Broker from Cyprus (EU). The company exists since 2012 and offers binary trading. The trading platform looks like the same design as IQ Option. The biggest advantage of Binarium is that the broker accepts clients from every country. You can sign up and start trading directly
There is also a free demo account and if you want to invest real funds you have to deposit $5 or more. The funds are managed in European banks for safety. On the platform, there are more than 50 different markets to trade. The maximum yield is up to 95% and you can grab a free bonus for your deposit if you want.
Binarium offers short-term and long-term trading 24 hours per week. You can use a lot of different analysis tools to create strategies or trading methods. Each tool can be customized by the user. From our experience, Binarium is a typical offshore broker which gives good conditions for binary trading.
The conditions for Binarium traders:
- Binary Options Broker since 2012
- Based in Cyprus
- Not regulated
- Free demo account
- A minimum deposit of $5
- Bonus program
- High return on investment up to 95%
- No hidden fees
- Support in multi-language
- Professional trading platform
(Risk warning: Your capital is at risk)
9. BinaryCent
BinaryCent is another offshore broker for trading Binary Options. The company is based in the Marshall Islands and accepts credit cards, cryptocurrencies, and online wallet payments. You can start with a minimum deposit of $ 250. The demo account is only available after depositing the minimum amount.
The biggest advantage of this broker is the minimum trade amount. You can open trades with only a few cents. That’s why the broker is called “BinaryCent”.
Moreover, the broker allows you to trade with no verification. You can sign up with an email address and start trading directly. For payouts, the broker may ask you for more personal documents.
BinaryCent offers more than 100 markets to trade. You can use Binary Options, Forex, and CFDs for investing in the financial markets. The maximum leverage is up to 1:100. Furthermore, you can accept a free bonus of up to 100% for your deposits. Overall, BinaryCent is a typical offshore broker. We recommend being careful with investing big amounts of money.
Advantages of BinaryCent:
- Unregulated broker
- Trade without verification
- Minimum deposit of $ 250
- Trade from 10 cents
- Free bonuses
- Social Trading
- 24/7 support
- Binary Options, CFDs, Forex
- Leverage up to 1:100
(Risk warning: Your capital is at risk)
10. RaceOption
RaceOption is similar to the broker BinaryCent. It is a typically offshore broker with no regulation. You can start trading without any verification. The minimum deposit is $ 250 and you can trade with a minimum investment of $ 1. RaceOption also offers a free bonus for the first deposit up to 100%+.
With RaceOption trading 24/7 available, trade more than 100 markets with a high yield of up to 95%+. The platform is just simple to use and there are not so many professional functions for analyzing the markets. Just use the technical analysis to make the forecast of the markets.
Advantages of RaceOption:
- Full offshore broker
- Trade without verification
- A minimum deposit of $ 250
- Low minimum trade amount of $ 1
- Fee deposit bonuses
- Social trading
- Easy-to-use platform
- 24/7 support
- Support cryptocurrencies
(Risk warning: Your capital is at risk)
How to spot a trusted binary options broker:
On this website, we only show you tested Binary Options Brokers by ourselves. We want to be sure that the companies pay out the profit. Be aware of trading Binary Options because there is a lot of scam on the internet. That is why you should check a broker before you sign up and invest your hard-earned dollars.
To find a good Binary Options Broker, we have different criteria. Safety for customers is the most important point. In addition, a trader needs professional trading software and a high return on investment. The following criteria are used to find a good broker.
Our criteria for a good Binary Options Broker:
- Regulation of finance authority
- Safety for customer funds
- Free demo account for testing
- Low minimum deposit
- High return on investment (yield)
- Useful trading platform with analysis tools
- No hidden fees
- Fast execution of trades
- Available support in different languages
Regulation and safety for customers
We have to note that Binary Options are not allowed or supported in some countries. That is why not every Binary Options Broker accepts customers from certain countries. Mainly unregulated Binary Options Brokers accept international and all clients. The demand for trading binary is very high, which is why we also show you 2 unregulated brokers who are accepting any clients.
Safety for the customer is important and every broker understands it. The company is regulated and uses regulated payment methods. The brokers guarantee the safety of customer funds which are managed in big trustworthy banks. The client’s funds are separated from the company’s money.
For example, you will find the regulation and company information mostly at the bottom of the broker’s website:
Binary Options ban and fraud:
In most cases, Binary Options is an OTC (over-the-counter) traded products. Traders are trading against each other on the broker’s platform. In the past, there was a lot of fraud around this financial product. That is why some countries tried to ban Binary Options or made more secure regulations. For example, in Europe, Binary Options are only sold to professional clients at the moment and in the United States of America, the Securities and Exchange Commission only allows exchange-traded Binary Options.
(Risk warning: Trading involves risks)
How to not get scammed by a binary broker:
Binary Options are known for scams and bad reputation even it is a regulated financial product in the United States. In the past, there was a lot so scamming activity in Europe and all around the world by using Binary Options. Fake or scam brokers tried to steal customer funds. This was happening due to manipulated trading software or fake websites. One of the most surprising scams was that celebrities are used for advertising scam brokers and their money funnel.
Nowadays, there are fewer scam brokers but they still exist. So, how do you defend yourself against scam websites and fake binary options brokers?
See our comparison between trusted and scam binary brokers:
Trusted Binary Brokers: | Scam Binary Brokers: |
|---|---|
✅ Got a real address and company information | ❌ No address and company information |
✅ Shows risk warnings on their webpage | ❌ No risk warnings |
✅ No guaranteed profit | ❌ Promises guaranteed profits |
✅ No spam calls | ❌ Spam calls and selling on the telephone |
✅ No investment advice | ❌ Investment advice |
✅ Free demo account | ❌ No demo account possible, they want a direct deposit |
In this table, you see a lot of points that you can check before selecting a binary broker. We recommend making a deep analysis of the website and the company. Also, it is helpful to search for the reputation of the broker. You can find reviews on google or forums very quickly.
See our research checklist before selecting a broker:
- Search for information about the company
- For how long is this broker existing?
- Are there 3rd party reviews?
- Do you find other traders online who are sharing their experiences?
- Is there a real address and company behind the broker?
All in all, with these tips, the chance of getting scammed is near zero. Please do your research before you sign up with any platform on the internet. It is important to not get scammed!
How to sign up with a Binary Options broker:
In the following, we present you a few simple steps on how it works to sign up with a binary broker and start trading:
1. Sign up with your email and password
For registering on a binary trading platform, you only need your email address and a secure password. Then you get a direct access to the platform and you can use the free demo account and all its featurs.
(Risk warning: Your capital is at risk)
2. Add your personal details
If you are a serious binary trader, you should complete the account details in your dashboard. Add your real name, date of birth, and address. It is important to add the correct details for the verification later on.
3. Get your account verified
Verify your trading account by uploading a photo of your passport, driving license, or national identity card. The broker will confirm if it is correct and give you a verified status afterward. It is important to check if you are a real person.
4. Use demo trading or real money
As a beginner, you should use the binary options demo account. It is a trading account with a virtual account balance. You can learn to trade without risks. If you make losses, you can fill it up again with virtual money.
If you feel comfortable and you have a good trading strategy, you can start trading with real money. It is possible to switch between the real account and demo account any time.
5. Deposit money on your binary options broker
Depositing money on binary options brokers works in many different ways. You can use credit cards, cryptocurrencies, bank transfers, and also electronic wallets. Today binary brokers offer a lot of different methods and they are free to use.
6. Start trading
Start trading on the platform and make your first profits or losses.
7. Withdraw money
Withdrawing money works like depositing money. In your account dashboard, you can choose the payment method and the amount you want to withdraw. From our experience, payments are working very fast on our recommended binary options brokers. The maximum is 3 working days!
(Risk warning: Your capital is at risk)
How do Binary Options work? – Quick Tutorial
How to trade Binary Options (Investopedia link) – In this section, we will give you a short overview of the finance product. Most mistakes happen because of misunderstandings.
Binary Options have only two main results:
- You lose your investment amount
- You get your investment amount back and earn a high yield
- (If the price is not moving, you get the money back)
It is very easy to trade Binary Options. That is why it is a popular investment. First, you have to analyze the chart and market for a potential trading idea. If you are sure to invest, you can open the trade. Make a forecast of the price movement. You can invest in rising or falling prices. You buy (call) or sell (put) after you have chosen the investment amount and the duration time of the trade. The price has to be above or below your entry point (strike price) in order to get a return on investment.
- Make a forecast of the price movement
- Choose the duration (expiry time) of the option
- Choose the investment amount
- Click on buy or sell
- Wait till the duration time is over, or sell the option before
- Make a return on investment or lose the investment amount
Also, read our full article about Binary Options.
Conclusion – High return on investment is possible with the best binary options broker
On this website, you will find the reputable and latest information about Binary Options Brokers. We showed you the best companies to trade with, which we test with real money. You can also test these trading platforms with a free demo account. In addition, the minimum deposits are very low, and you can start with a small amount of money.
Pocket Option is the winner in our comparison because it offers a professional platform that every trader can access with only a $ 50 of minimum deposit or a free demo account. Moreover, the return is the highest on this broker, and the execution time of trades is the lowest.
If you feel comfortable, you can invest more money to increase your profit. With these platforms, you get access to a lot of different financial markets. Start trading by using short-term or long-term options.
Finding a good Binary Options Broker is not so easy because the choice is quite wide on the internet. With our criteria, we found the best brokers and presented them to you. For more information, you can read our detailed reviews:
- Pocket Option
- Quotex
- IQ Option
- Deriv.com
- Expert Option
- Binomo
- Olymp Trade
- Binarium
- BinaryCent
- RaceOption
(Risk warning: Your capital is at risk)
Most asked questions:
Are Binary Options brokers safe to use?
Yes, Binary Options brokers are safe to use. The first important rule is to use a well-known Binary Options company that is regulated. In addition, verify your trading account to use all features of the broker. On our website, we show you secure brokers which pay out the profits with no problem.
Which Binary Options broker has the minimum deposit of $1
At the moment, due to our research, there is no Binary Options broker who has a minimum deposit of $1.
Are Binary Options brokers regulated?
Unfortunately, most Binary Options brokers are not regulated and operate offshore. There are different platforms that are regulated by international entities but this is not a governmental regulation. In the USA brokers like NADEX are regulated by the Commodities Futures Trading Commission (CFTC). Check also their RED list for scam brokers here: https://www.cftc.gov/LearnAndProtect/Resources/Check/redlist.htm
Which Binary Options broker has a low minimum deposit?
Binary brokers like Quotex ($10), IQ Option ($10), or Olymp Trade ($10) have a low minimum deposit. $10 is a low minimum deposit in terms of online trading and brokerage.
Can I use a Binary Options broker for free?
Yes, you can use a Binary Options broker and platform for free by signing up for a free Binary Options demo account. This is a virtual balance account that is offered by most binary platforms for free. You can test the trading platform without any risk.
See our other articles about Binary Options Brokers:
- Binary Options Brokers in Thailand
- Binary Options Brokers with low minimum deposit
- Binary Options Brokers in India
- Binary Options account
- Binary Options apps
- Binary Options demo accounts
Last Updated on January 4, 2024 by Arkady Müller
