The 12 Best Binary Options Brokers and Trading Platforms 2023
Are you looking for the best binary options brokers? We have tested and compared most of the regulated binary options brokers and platforms in 2023. In this comparison can find the complete list of the best and most recommended brokers and platforms, in order to help you find the best binary options platform that will suit the beginner trader as well as the most expert traders.
The comparison tables below list and ranks the different binary trading sites based on different criteria like minimum deposit, maximum return, regulations, and bonuses available.
You can also read our reviews about each broker and platform we recommend in this article, this information about brokers will help you compare them and make the best choice. In this comparison list, you will also find different tips on how to choose the best trading platform according to your personal needs, all of which will mainly depend on your affinity and preference as a binary options trader.
The Best Binary Options Brokers in 2023
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The 12 best binary options brokers list:
- Quotex.io – Best binary options broker overall
- IQ Cent – Best for low minimum trade
- IQ Option – Best Trading Platform
- Pocket Option – Best For USA Traders
- RaceOption – Best bonuses
- Binarycent – Best for Copy Trading
- OlympTrade – Best For Traders In India
- Binary.com – Best Trading Bots
- Binomo – Best For Trading Tournaments
- Expertoption – Best For Social Trading
- Spectre.ai – Best Broker On The Blockchain
- Nadex – Best broker regulated by CFTC
Quotex.io is probably one of the best binary options trading sites in our comparison. With a simple and intuitive trading platform, with no less than 22 trends indicator and oscillators, as well as the most precise trading signals that will help you in the development of your trading strategies.
Quotex gives access to More than 410 instruments such as Forex, commodities and indices. You can open a demo account without registration or deposit to practice binary options trading and develop your strategies. To trade in real money, a deposit of only $ 10 is required which makes Quotex one of the most affordable binary option brokers. Deposits and withdrawals are made by various popular payment methods such as Visa and MasterCard debit and credit cards, Skrill, Neteller, Yandex Money, WebMoney and Qiwi.
IQCent comes in second place in our comparison of binary options brokers. This broker operates under the corporate name of WaveMakers LTD which is an online brokerage firm based at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands. This broker provides its customers with a trading platform designed to be clear and intuitive, and has recently updated it with a lot of new features.
This broker offers binary options contracts allowing you to speculate on more than 150 assets and earn up to 95% return on investment over time ranges from 60 seconds to several hours.
In addition to binary options, IQ Cent also offers Forex brokerage services via CFDs. You can trade forex and CFDs with leverage up to 1:500, which sets them apart from most binary options brokers.
Just like some other binary options platforms on our comparison, IQCent also offers these clients the possibility of using a Copy Trading function. As its name suggests, this copy trading feature allows you to copy the best traders registered with the broker to automatically replicate their trades in binary options as well as on CFD trading.
On the customer support side, access to customer service is very easy and fast and is done via a dialog box located at the bottom right of the screen. According to our tests, the support team is friendly and responsive and will respond to all your requests very quickly.
However, some important details are good to know before starting with this broker, in particular the card deposit fees which go up to 5% and which can put off some traders. These fees only apply to credit/debit cards. You can also make your deposits and withdrawals free of charge with other payment methods such as cryptocurrencies. This broker accepts deposits and withdrawals with Bitcoin, Ethereum and many other crypto currencies.
If you are looking for a binary options broker offering generous bonuses and promotions to get the most out of your trading capital, IQ Cent offers deposit bonuses up to 200% for your 3 first deposit.
The advantages of IQ Option:
- Low minimum deposit of only 10$
- $10 000$ Free DEMO ACCOUNT with no deposit
- Withdrawals processing is fast
- Wide range of Assets to trade (Options, Forex, Stocks, Crypto, Commodities, Indices, ETFs)
- Wide range of funding and withdrawal methods
- Multilingual Customer support 24/7
- One of the best Trading platforms to trade Options and CFDs
IQ Option is one of the best binary option broker with a low minimum deposit of only 10$, and provides access to the binary options market through its own intuitive trading platform equipped of the four widely spread indicators (Bollinger bands, moving averages, Relative Strength Index and Alligator) to help traders forecast the direction of price movement correctly.
IQ Option also allows you to speculate via contracts for difference (CFDs) on stocks, cryptocurrencies, and ETFs as well as on various digital options. The IQ option trading platform is used to trade CFDs as well as to trade binary options and digital options. You can trade with leverage on different assets such as forex, commodities and stocks as well as on indices.
IQ option is a CySEC Regulated broker and is MiFID compliant. However, clients outside the EEA operate with a company called IQ Option Ltd. which is based in St. Vincent and the Grenadines. The main advantages of trading on IQ option are the ability to open an account with a deposit of just $ 10. The ability to trade over 14 cryptocurrencies as well as forex with low spreads and access to a wide range of digital options with payouts of up to 900%.
Pocket Option is one of the best brokers for binary options trading. Pocket option allows you to trade online with over 100 assets through its web platform, mobile app or MetaTrader 5 trading platform. This binary options broker operates under the company name Gembell Limited which is located in the Marshall Islands. It is a serious offshore broker for trading stocks, commodities, forex, currencies, crypto currencies.
This binary broker is regulated by IFMRRC and accepts clients from all over the world, including traders from the United States and Europe. It is very easy to open an account on Pocket Option and withdrawals are immediate. We find that this broker is very popular and appreciated by traders all over the world. You can trade binary options on a modern web platform and their trading app which has everything you need for a top level trading experience including popular indicators and signals. The return on investment is very high and goes up to 95% +. In addition, many special features make the broker unique such as Copy Trading as well as other innovative features.
Raceoption is one of the most renowned binary options companies. It is a serious binary options broker and provides a clear and intuitive trading platform. Launched in 2014 RaceOption operates under the company name Makerun Corp and is based in the Marshall Islands, it is one of the only binary option brokers to accept clients from the US and around the world.
This broker allows you to earn up to 95% income in 60 seconds on over 150 assets including stocks, forex currencies, commodities, and indices from around the world. You can also trade forex via CFDs as well as other assets available on the platform. RaceOption is one of the few binary option brokers to feature Copy Trading, which is a feature many traders like to familiarize with trading and copy top traders registered with the broker. Unlike other brokers, access to customer service is very easy and this is done through a dialog box visible at the bottom right of your screen.
One of the disadvantages of RaceOption are the deposit fees per card which go up to 5%. However, you can deposit with crypto currencies like bitcoin, ethereum as well as other crypto currencies without fees as well as with Perfect Money electronic wallet.
The advantages of BinaryCent:
- Traders from all over the world are accepted (Americans traders and UK traders are accepted too)
- Investments are minimal:
- Trades from 10 cents
- LEVERAGE UP TO 1:100 in CFD Trading
- Withdrawals processing within 1 hour
- 24/7 customer multilingual support
- Possibility of Copy Trading
Created in 2017, This broker operates under the name of Wave Makers LTD, a brokerage company based in Marshall Islands. Just like other brokers that we list in this ranking of the best brokers, BinaryCent is not only a binary options broker, but also provides forex brokerage and contract for difference (CFD) services. CFD gives you the advantage of being able to use leverage. This gives you the opportunity to take larger positions than you normally can and thus amplify your potential profits.
In terms of regulation, BinaryCent is a broker regulated by the Global Financial Services Authority (GLOFSA).
One of the negative points of BinaryCent are the deposit fees per card of 5% However, you can make quick deposits and withdrawals free of charge with other payment methods such as cryptocurrency as well as with Perfect Money.
OlympTrade is a serious online trading broker that accepts traders from most countries of the world. This online brokerage companie are fully legal and officially registered and have received several awards for their professionalism.
This Binary options broker is regulated by the International Finance Commission since 2016 which is an excellent point.
On our binary option broker list, OlympTrade is the best binary option broker with MT4 trading platform. The custom-built platform of OlympTrade has been adapted for any device you may choose and switching is 100% seamless. yous can Explore the platform and test your trading strategies for free and can make quick and easy deposits and withdrawals with Bank Card, JCB, Union Pay, Neteller, Skrill, Perfect Money, WebMoney, Bitcoin, Tether USDT and Ethereum.
With this online broker, you can trade Currencies, Stocks, Metals, Indices, Commodities, Crypto, ETF and OTC assets with their platform or with the MT4 trading platform that many traders like for online trading.
Binary.com started its activity in 2000 and is a renowned binary options broker that allows you to benefit from the same rates as traders in the interbank market. All prices are in real time, compared to interbank options markets. With returns of up to 100% on high / low option contracts and returns of up to over 1000% on higher / lower and touch / contactless trades, all without any hidden fees or commissions.
This broker is one of the best in the binary options industry. With this broker you have access to a wide range of assets such as currencies, stock indices, commodities, and synthetic indices and you can choose expiration periods ranging from 10 seconds to 365 days on binary option contracts.
Binary.con is licensed and regulated in the British Isles and in Malta since 2015 and operates with the strictest security standards in the industry by segregating your funds and holding them with secure and approved financial institutions.
You can make your withdrawals and deposits with a wide variety of payment methods such as bank transfers, Visa, Mastercard and Maestro debit and credit cards and a multitude of electronic wallets such as Skrill, Neteller, WebMoney, QIWI, PaysafeCard, Sticpay, Airtm, PerfectMoney and FasaPay.
Binomo is a well-known brand in the online trading and binary options industry. This broker has won numerous awards, notably the IAIR Awards and the FE Awards.
Binomo is regulated by the Financial Commission, an independent regulatory body that compensates clients for bad brokerage practices and litigation. This broker gives you access to a demo account of $ 1000 to improve your trading skills and discover a wide range of financial opportunities. You can start trading with only $ 10 and minimum trades start at $ 1.
With binomo you can trade simultaneously without restriction. Trader the week and gives you the opportunity to trade using a wide range of assets via binary options and CFDs. Like most of the best brokers, you can trade with their app for iOS and Android as well as stay informed instantly about trade closings and markets closing, promotions and tournaments.
With this broker, You can make deposits and withdrawals quickly via Visa, Mastercard and American Express cards as well as via JCB and China Union Pay.
ExpertOption is one of the leader in online trading industry and is trusted by more than 50,000,000 clients. This broker received the award of the Best Trading Platform at China Trading Expo in May 2017.
On ExpertOption, you can trade among more than 100 assets and stocks and is continuously adding new financial instruments to have more and more market opportunities for traders.
Instead of using classic trading platforms like MT4 and MetaTrader 5, this binary option broker has its own platform with 4 types of charts (Area, Line, Bars and Candles) 8 indicators (Moving average, Bollinger bands, Alligator, Parabolic SAR, Fractal, RSI, Awesome oscillator and MACD) and trend lines for your technical analysis.
Expert Option gives you the possibility to use a Social trading function too, which can help beginners as well as expert traders to copy the trades of the best traders.
Deposits and withdrawals of money on Expert Option are fast and without commission. They can do this with Visa, MasterCard and Maestro debit and credit cards as well as various payment methods such as skrill, Neteller, m pesa and JCB.
The Broker Expert Option does not accept citizens and residents of the European Economic Area as well as other countries and regions of the world such as the United States, Canada, Russia, Switzerland, Israel, New Zealand, Australia, Puerto Rico, Singapore, Bangladesh, Indonesia, Iran, North Korea and Yemen.
The advantages of Spectre.ai :
- Minimum deposit of only 20$
- Free demo account with no deposit
- Wide range of funding and withdrawal methods
- You can trade directly from your own digital wallet without making a deposit
- Withdrawals processing is fast
- Wide range of Assets to trade
- Customer support Available 24/7
- Halal Binary options broker
Specter.ai is a blockchain-based broker that uses crowdsourcing technology, which allows traders to trade directly against Specter.ai liquidity pool or against other traders.
One of the particularity of this binary options broker is that it is entirely based on a set of audited and secure smart contracts. With the blockchain technology and integrated smart contract of this broker, you can trade directly from your own digital wallet without making a deposit.
This broker is also recommended to Muslim traders because it is a Sharia-compliant halal broker, with no hidden fees, no haram assets and with no-fee trading. This allows the trader who honors the Islamic faith to be able to trade their preferred assets while respecting their faith and beliefs.
Nadex is a US regulated binary options broker, also known as the North American Derivatives Exchange is one of the largest US binary options brokers that offers a 100% legal opportunity for American traders to invest in the binary options market, Touch Bracket and Call Spreads.
This broker is regulated by the CFTC which is one of the most renowned regulators in the online tarding industry and guarantees you financial compensation in the event of a dispute with the company. Of course, this binary options broker accepts US American traders and gives them access to a whole range of derivative products such as binary options and other financial derivatives.
Nadex offers three different ways to deposit and withdraw funds, by debit card, wire transfer / ACH or wire transfer.
Compare brokers and platforms
Brokers are essential intermediaries for any traders wanting to have access to the binary options market. Comparing brokers is an important step to ensure that you are trading binary options in good condition. On our site, we have compiled a list of all the comparison factors that are important to your decision-making when choosing a broker. These criteria will help you select the broker suited to your needs with which to open an account:
There are several criteria that traders must use to select a suitable binary options broker:
• There is the issue of trade types. Some binary options offer all trade types, while others are more restrictive.
• There is also the choice of trading instruments. Some brokers have great depth and are able to offer financial assets for trading that cover the forex, commodity, futures and bond markets.
• here is also the issue of payouts, trading costs, bonuses, and trading conditions.
All of these factors will ultimately affect the way a trader plays the market, and ultimately, his profitability. The ideal situation is to get a binary options broker that offers several financial assets spread across several markets, offers a reasonable bonus with a good payout approaching 90%, and offers flexible expiration dates without boxing traders into very long expirations. For more information you can also read our article on choosing a binary options broker.
Keeping this in view, we have tried to use these criteria to draw up what we feel are the best binary options brokers that traders can do business with. The list is not very exhaustive, but we consider this a good place to start.
The main financial market regulatory bodies are as follows:
CFTC – Commodity Futures Trading Commission (United States)
FCA – Financial Conduct Authority (United Kingdom)
CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
FSB – Financial Services Board (South Africa)
ASIC – Australian Securities and Investments Commission (Australia)
The main objective of regulating financial markets is to protect traders by ensuring that brokerage and financial services firms protect their client’s money, as well as providing legal remedies in the event of litigation and abuse from brokers. So you should be taking this factor into account when choosing an online broker.
The list below lists the main regulators of online trading, there are others besides the one mentioned below. Please also note that more and more brokers are regulated by more than one regulator. In most cases, the most reputable brokers are generally regulated.
Regulated binary option brokers
The regulation and licensing of brokers should be considered when choosing your binary broker. This allows you to get your money back in the event of a problem or bad brokerage practices. Trading with a regulated broker gives you the guarantee that you are trading in good condition.
There are always serious and honest unregulated brokers out there, but many are untrustworthy. This means that a trader should take more care when trading with unregulated brokers.
Opening a free demo account for binary options is the best way to get an overview of what the broker has to offer. This will allow you to familiarize yourself with their platform and test different trading strategies without risking your money. You can also open a demo account on several brokers to compare them and choose the broker that suits you best. These free trading accounts are very useful to be able to see in detail certain criteria such as the return on your favorite assets or to have a complete overview of the functionality of their platforms for example.
Deposit bonus and no deposit bonus
Deposit or no deposit bonuses can be attractive for most traders, allowing you to get more initial capital to be able to trade. On our website, you will find the brokers with the best bonuses. Once the requested bonus, the money will automatically be transferred to your trading account. The bonus amount can vary from broker to broker, it is usually $ 20 to $ 100 or more. Please take into consideration that most no deposit bonuses cannot be withdrawn prior to trading, they only refer to credited money for trading. Before accepting a bonus, always check the conditions of use for the eligibility criteria of these offers.
Low Minimum Deposits
By Low Minimum Deposit, we refer to all brokers accepting the first deposit of $ 50 or less. A low minimum deposit should be an important criterion, especially for traders who have just started and who do not have large starting capital. It also gives you more security, preventing you from losing a lot of money in the event of problems with the broker. Not all brokers offer the same conditions and have different requirements. Some accept the first deposit of only $ 10 while others require a minimum deposit of $ 500 or more …
It is always interesting for a binary options trader to trade with brokerage firms offering the best payouts. Not all brokers are created equal and some give better payouts than others on the assets they offer. We recommend that you register for free on several of these platforms and compare the payout offered for each asset offered by brokers.
Which is the Best Binary Trading Platform?
As mentioned earlier in this article, there are no best brokers for everyone. because all will depend on your personal criteria and your affinity with their platforms.
However, all of these platforms are different, especially in terms of functionality and ease of use. In most cases, brokers who also offer their clients the possibility of trading other financial derivatives such as contracts for difference (CFDs) in addition to binary options, generally have more features and are equipped with better trading platforms.
Take for example Quotex and Pocket Option, which are probably among the leading brokers in the industry, all offer professional trading platforms to their clients. There are also other reputable brokerage firms that offer the possibility of integrating the Metatrader 4 and MT5 trading platform for clients who are more familiar with them.
What consider when choosing a binary options broker?
Here are some of them.
Probably the most knotty issue confronting traders is the issue of regulation of brokers. Proper regulation ensures that sharp practices by brokers are reduced to the barest minimum. For the binary options market, regulation will ensure that your funds are safe and that you are paid your trading profits accordingly.
A good binary options broker should have in place, a responsive customer service department. There are some brokers that are notorious for having obnoxious customer service staff who are snobbish and rarely give traders solutions to their problems. It is essential that you choose a broker who can provide live customer chat services, manned by responsive staff who can attend to your requests promptly.
Range of Trade Types:
There are three major trade types in binary options. However, many brokers do not offer the full range of trade types. Some of them even place all manner of limitations that will make it extremely difficult to make money in binary options. These limitations are not usually very obvious to trading newbies, but experienced traders can usually see the pits that are dug by brokers to cause traders to fail. You need to be very careful about the broker you select. Select brokers that provide transparent trading conditions.
The best kinds of trading software are those that make for ease of trading, easy navigability and user-friendliness. If you have to spend half of your trading time just trying to navigate around the trading platform in an effort to make trades, then you need to change brokers. Difficult platforms contribute to trading failures. In addition, there are innovations available now to allow traders to trade on the go. Gone are the days when traders have to stay glued to their computers all day long, looking to grab a trading opportunity when it comes. Thanks to the efforts of the likes of Steve Jobs, we now have smartphones that can be used as mobile computers. Many brokers who are responsive to the times are now building mobile versions of their trading platforms for traders to use. This is a big plus as traders do not need to stay glued to their PCs, and they can monitor their trades wherever they are.
Payouts are varied in the binary options market. Some brokers even provide what is known as “variable” options, which allow a trader to exit a profitable binary options trade even before the expiration date. Some brokers also provide payouts as much as 80% per trade. The fact is that we are in the business of trading to make money, and if you can find a broker whose conditions make it more favourable for you to do so, then you need to grab the opportunity with both hands.
Conclusion on the best binary options brokers in 2022
These parameters mirror what every binary options trader needs to know when searching for an appropriate broker to trade with. If you use these parameters, and add them to what you can pick up from binary options brokers review sites, then you can be sure that you are on the right path to choosing a good binary options broker.
There is the issue of trade types. Some binary options offer all trade types, while others are more restrictive.
There is also the choice of trading instruments. Some brokers have great depth and are able to offer financial assets for trading that cover the forex, commodity, futures and bond markets.
There is also the issue of payouts, trading costs, bonuses, and trading conditions.
All of these factors will ultimately affect the way a trader plays the market, and ultimately, his profitability. The ideal situation is to get a binary options broker that offers several financial assets spread across several markets, offers a reasonable bonus with a good payout approaching 80%, and offers flexible expiration dates without boxing traders into very long expirations.
For more information you can also read our article on choosing a binary options broker or watch this video which outlines some tips on how to open an account and deal with a binary options broker.
Keeping this in view, we have tried to use these criteria to draw up what we feel are the best binary options brokers that traders can do business with. The list is not very exhaustive, but we consider this a good place to start. So here’s one great binary options broker.