Binary Options Brokers and Trading Platforms

We have compared the best regulated binary options brokers and trading platforms 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.

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 binary options trading platform for you, as this will often come down to your personal requirements.

Top Binary Options Brokers

How to Compare Brokers and Trading Platforms

In order to trade binary options, you need to engage the services of a binary options broker. Here at binaryoptions.net we have provided a list with all the best comparison factors that will help you select which binary trading platform 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:

1. What is the Minimum Deposit? (These range from $5 or $10 up to $250)
2. Are they regulated or licensed, and with which regulator?
3. Can I open a Demo Account?
4. Is there a signals service, and is it free?
5. Can I trade on my mobile phone and is there a mobile app?
6. Is there a Bonus available for new trader accounts? What are the Terms and
   conditions ?
7. Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
8. Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices and stocks – and how many of each?
9. Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of day, long term etc?)
10. How much is the minimum trade size or amount?
11. What types of options are available? (Touch, Ladder, Boundary, Pairs etc)
12. Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
13. Do they operate a Robot or offer automated trading software?
14. 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?
15. 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.

Regulated Binary Options Brokers November 2024

Broker	Regulator	Instruments
Closeoption	National Bank of Georgia	BO
Nadex Exchange	CFTC	BO, Forex
Pocket Option	MISA	BO, Crypto, Forex
IQCent	IFMRRC	BO
Deriv	MFSA, LFSA, BVIFSC, VFSC, FSC, SVGFSA	BO
Binary.com	MGA, SC	BO, CFD, Crypto, Forex
Spectre.ai	St. Vincent and the Grenadines	BO
ExpertOption	SVGFSA	BO, Forex
OlympTrade	VFSC	BO, Forex
World Forex	SVGFSA	BO
BinaryCent	VFSC	BO, CFD, Crypto
BDSwiss	FSC, FSA	BO, CFD, Crypto, Forex

Regulators

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.

Bonuses

Different kinds of binary options bonuses 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 checked. 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, or at least not that specific offer. 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.

Demo Accounts

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 mostly looking to learn, a low minimum deposit binary options 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.

Payouts

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 Options Trading Platform?

Naming the best binary options trading platform is not easy, simply because trading platforms and proprietary (bespoke) software are normally a question of personal taste. One trader might like a simple layout, while others might need a lot of data on screen all the time.

However, binary trading platforms do have different levels of quality, both in terms of ease of use, and features. Broadly speaking, CFD brokers, i.e that offer CFDs (Contracts For Difference) in addition to binary options, typically deliver a more feature-rich trading platform or advanced software.

So the likes of  Nadex and IQ Option, 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 lesser maturity of binary options as a product, but binary brands will catch up very quickly.

How do Binary Options Brokers Make Money?

Binary options brokers make money via one of two business models:

1. As a counter-party, ensuring an ‘over round’ via payout percentages. Known as ‘Over the counter’ (OTC)
2. 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

Exchange 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.

Payment Methods

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, see our page on binary options payments methods or the list below.