Online binary and digital options traders will agree that choosing the right broker is one of the important things you can do to increase chances of succeeding as a trader.
There are hundreds of brokers to choose among. However, finding the best options broker will require you take into account various factors.
These include considering things like whether they’re fully regulated, payment methods accepted, financial instruments on offer and minimum trading amounts among others.
But sifting through dozens of brokers to find the right one for you could require several days of online research. To allow you to cut down on this time, we’ve created this detailed review.
- 10 of the best binary and digital options brokers operating online today.
- Olymp Trade
- IQ Option
- Binary Options Vs Digital Options on IQ Option – How do They Differ?
- Useful Tips to Pass Account Verification on IQ Option
- How to Choose The Best Trading Hours on IQ Option
- #1 Tutorial To Trade Binary Options on the IQ Option platform
10 of the best binary and digital options brokers operating online today.
Each broker was selected based on several criteria. These include:
You can also click on a specific broker to read a more comprehensive review of the broker.
So here it goes.
This is one of the new entrants in the binary options market. Launched in 2014, Olymp Trade has its headquarters in Russia.
This options broker is regulated by the Financial Markets Relations Resolution Center (FMRRC). They’re also a member of the International Financial Commission (FinaCom).
Getting started with Olymp Trade is easy because the broker offers a demo trading account with RUB 10,000 virtual cash. The broker accepts payments made via wire transfer, credit card and eWallets like Skrill.
If you decide to join this broker, you will need to choose between a Standard Account and a VIP account. For the Standard Account, you’ll only need to make a minimum deposit of $10.
For a VIP Account, you’ll need at least $2000. The minimum you can invest in a single trade is $1 and you can earn an effective return of up to 90%.
Each trade can run for as long as 1 hour and losing trades can be exited at any time to minimize losses. Their list of tradable assets is currently under 20.
Withdrawals are processed fast and will usually reflect on your account within 5 days. Currently, Olymp Trade is most popular in the following countries: the Russian Federation, Thailand, Brazil, Indonesia and Turkey.
We consider this as one of the top binary options brokers for a number of reasons. One is that they are fully regulated by CySEC and offer their services to traders from many countries across the globe.
IQ Option was founded in 2013 and is headquartered in Cyprus.
This broker’s platform is well designed and can be accessed via browser or app.
Their platform also includes dozens of different charts, indicators and other trader friendly features.
One of their strong points is the high effective returns earned per trade. You can actually earn up to 95% on successful trades. Another cool thing about this broker is the over 10 million different assets you can choose from.
If you wish to try out their platform, you can open a binary options demo account before trying out a real account. The demo account comes credited with $10000 virtual cash.
Opening a real account will require as little as $10. You can make your deposit via wire transfer, credit/debit card, Skrill and other eWallets.
Withdrawals can be made via these payment methods. Each withdrawals request is processed within 24 hours.
IQ option accepts almost every nationality but some of the countries where IQ Option is the most popular are the Russian Federation, Italy, India, Brazil and Thailand.
One of the key features I look at when deciding whether a broker is legit or not is if they’re fully regulated by a reputable authority. As I mentioned, Binomo is regulated by the IFMRRC. I usually place preference to brokers who hold certificates from reputable authorities like CySEC, ASIC and FCA.
This online broker offers a demo trading account credited with $1000. This is a good place to get started in order to get a feel of the platform. You’ll only need a valid email account to open a demo account. In addition, you can easily replenish the demo account funds if necessary.
Binomo offers a range of tradable assets to choose from. These include currency pairs, commodities, stocks and cryptocurrencies. The number of assets you have access to largely depends on the account type you sign up for with VIP account holders having access to the widest range.
There are two option types to choose from. The turbo option allows you to enter and exit trades within a 60-second time frame. The classical high/low option on the other hand offers multiple expiry periods of 15, 30 and 60 minutes respectively.
Opening a real cash account is also quite simple. The broker accepts several payment methods including wire transfer, credit card, Skrill, and Neteller.
There are 3 real account types to choose from. The Standard account makes it easy to try out the platform without investing more than $10. Each account comes with its own unique features. However, Gold and VIP accounts offer more goodies including faster withdrawals
Overall, a 4.5-star broker rate, a good 3e place in the list.
This is one of the new entrants in the regulated binary options brokers industry. ExpertOption was founded in 2015 and is regulated by the Financial Markets Regulations Center (FMRRC) and the Vanuatu Financial Services Commission (VFSC).
ExpertOption offers a modern, well-designed platform that’s powered by the broker’s own custom software.
The platform is quite fast and accessible via a web browser or mobile app. Being a new broker, their assets list is quite limited (currently just
However, the list includes cryptocurrencies which many traders are finding attractive.
You can start trading on the ExpertOption platform using their demo account which comes credited with $10000 virtual cash.
To open a real trading account, you’ll need to deposit anywhere between $50 and $5000.
There are 5 different account types each offering several trader friendly features. Every new account can attract a bonus of up to 125% which is quite high.
The ExpertOption platform accepts over 20 different payment methods including wire transfer, credit cards, Skrill and WebMoney.
Depending on your account type, you can enter a position with as little as $1 and as high as $5000. Each successful trade will attract an effective return of up to 96%.
One feature we particularly like about this broker is how fast withdrawals are processed. Depending on your account type, you can have withdrawals processed within as little as 48 hours.
You can also withdraw as little as $10.
Currently, ExpertOption is popular by traders from India, the United States, South Africa, Indonesia and Thailand.
Finding the best binary options platform requires you research a number of brokers and compare among them. There are many different factors to consider.
This could mean spending days doing the research. That’s time you’d better spend trading and profiting. That’s why we created this binary options broker reviews article.
In it, we’ve looked at the top brokers operating online today. Hopefully, you’ll find one that best meets your needs.