The Best Binary Options Brokers – The 9 Best Platforms in 2024

Binary options brokers provide traders with an affordable way to earn money in the binary options marketplace. It can be difficult to find the right trading platform for you when there are so many brokers available.

To help you choose the best trading platform, we have reviewed some of the top binary options brokers. Each binary broker is reviewed on several factors, including minimum deposits, payouts and regulations. We also review customer service and trading platforms.

These are the top binary options brokers for 2024.

9 Best Binary Options Brokers in 2022:

1. Quotex: Best overall Binary Broker
2. Pocket Options: Best for Trading MT5
3. IQCent: Best For Copy Trading
4. IQ Option: Best Binary Options App
5. BinaryCent: Best trading platform to beginners
6. RaceOption: The best sign-up bonuses
7. Spectre AI:  Best Blockchain Exchange
8. Binary.com: Best for trading MT4
9. Nadex: Regulated Broker for US Traders

1. Quotex: The Best Binary Options Broker Overall

• Minimum deposit: $10
• Minimum investment: $1
• Demo Account: Yes
• Underlying assets 100+

General Risk Warning: Your Capital may be at Risk

Quotex is also a trademark registered to Maxbit LLC. This company is based in Saint Vincent-the Grenadines and is regulated by the International Financial Markets Regulatory Center.

Quotex offers several investment products, including 27 currency pairs and major stock exchanges like Index-15, FTSE 100, Dow Jones.

Quotex also has a variety of features, including a 100% deposit bonus that allows beginners to copy trades from demo accounts. You can choose from a list of Quotex traders and copy them using the copy trader feature. The selected trader will be followed by a buy signal, a sell signal, or a bullish and bearish signal.

This will allow you to follow professional traders and make profit when trading.

This app offers 400+ tools to help clients trade and make money.

This app is also available in a mobile version. Quotex can be accessed via a smartphone or other mobile device.

A demo account is another resource that traders can use to help them learn. Demo accounts allow you to trade on Quotex without the need for cash. Quotex usually provides money, but it cannot withdraw funds from the account.

This demo account can be very useful for learning the trading methods used by Quotex. It can be used to practice trading, so you can get comfortable with the process and take your first steps. Demo accounts can also be used to test out new trading strategies.

2. Pocket Option: This is the best option for trading on MT5 platforms

• Minimum deposit: $50
• Minimum investment: $1
• Demo Account: Yes
• Underlying assets 100+

General Risk Warning: Your Capital may be at Risk

Pocket Option is our top choice for the best binary options broker in 2022. You can rest assured that this platform is regulated by the International Financial Market Relations Regulation Center, so you know your trades will be safe and legal.

Pocket Option is available across many countries. Pocket Option is an innovative trading platform that offers low minimum deposits, easy payment methods, great payouts, and a wide range of technical analysis tools.

Pocket Option has been used by more than 10 million people since its inception in 2017. Its user base covers over 95 countries.

Pocket Option lets you trade more than 100 assets, including stocks, Forex and cryptocurrencies as well as indices, commodities, and indices. You can use virtual money to create a demo account and get familiar with the site platform. You can use all features of the website without taking any risks.

Pocket Option makes it easy for you to withdraw funds and deposit them. Pocket Option has a minimum deposit of $50 and a maximum withdrawal of $10. This means that you don’t need to make a lot of money before cashing out. Pocket Option offers safe and easy payment options. You can also use cashback or other trading perks to make the process easier.

Pocket Option’s minimum trade value is $1. This allows new investors to get started and reduces risk. Pocket Option is compatible with Windows, iOS and Android as well as web browsers. This allows you to access your binary options from anywhere.

Pocket Option’s extensive education section will be of great benefit to new traders. It includes tutorials and guides about binary trading strategies. This site will help you feel confident in your ability to understand binary options trading before you risk your money.

Pocket Option is one of the leading IFMRRC regulated binary options brokers with a global client base. Pocket Option is one of the best option if you are looking for the best binary options platform.

3. IQCent: Best for Copy trading

• Minimum deposit: $20
• Minimum investment: $0.01
• Deposit Bonus: 20-100%
• Demo Account: Yes
• Underlying assets 100+

General Risk Warning: Your Capital may be at Risk

Binary options traders may want to make a quick profit and not have to monitor the market for the best moves. IQCent’s simple-to-use platform is perfect for you if you fit this description.

IQCent is a secure trading platform that processes more than 10,000 transactions per day. There are many advantages to IQCent over other sites: referral perks, bonuses on every amount you deposit, non-stop trades, and instant withdrawals. There are over 100 trading markets available, including commodities, Forex, and stocks. The minimum trade size is only a penny.

IQCent’s copy-trading tool is a favorite of casual and beginner traders. This tool allows you to copy trades made by experienced traders, so you can make profit without having any trading experience. IQCent offers a live chat service that is available 24/7 to assist you with any of the tools.

IQCent requires a $20 minimum deposit. This is slightly higher than some other binary options platforms. You will make a lot of money from your deposit with the many rewards, freebies and educational resources available. You can withdraw your funds and deposit them using more than 10 payment options, including cards and cryptocurrency.

IQCent allows you to leverage up to 1:100, which will allow you to maximize your potential profit with smaller investments. A bonus of up to 100% can be offered for beginners trading accounts.

4. IQ Option: The Best Binary Options App

• Minimum deposit: $10
• Minimum investment: $1
• Demo Account: Yes
• Sous-incorporating assets: 100+

General Risk Warning: Your Capital may be at Risk

IQ Options lets you trade Binary Options, Digital Options and CFDs. You can open a demo account for free. You can open a demo account for free by making a minimum deposit $10 and an initial investment of $1. Profits up to 96% are possible.

IQ Option offers a free mobile trading application for traders who are unable or unwilling to leave their trading terminals.

This app is specifically designed for mobile phones and other mobile devices. It allows traders to view their account status, track market developments, execute trades, as well as check their account status.

The IQ Option mobile trading application follows the evolution of the bespoke platform. It offers a seamless user interface. The trading area is identical to the desktop version.

Each operating system is adapted for mobile apps. The Android application IQ Option X was designed exclusively for Android.

The iOS app was also created with the iPhone/iPad in mind. This app maximizes the performance of these devices. IQ Option responded quickly to Apple’s recent changes regarding binary-related apps. To comply with these new rules, the iOS version was redesigned.

IQ Option allows you to trade digital options. You have the option to choose from more than 20 currencies and other commodities. Traders can choose from many strike prices. Binary Options payouts can reach up to 91% and payouts as high as 900%.

5. BinaryCent: Best Trading Platform For Beginners

• Min. Deposit: $250
• Minimum investment: 10 cents
• Deposit Bonus: 20-100%
• Leverage upto 1:100

General Risk Warning: Your Capital may be at Risk

BinaryCent allows you to trade binary options and earn up to 95% within 60 seconds. The platform is easy to use and allows you to trade binary options, CFDs, forex pairs, and CFDs.

BinaryCent’s trading platform has one of its best features: the ability to copy successful traders. At the touch of a button, you can select which traders to follow and copy their trades. This resource is particularly useful for beginners learning to trade binary options.

BinaryCent is what we love the most:

BinaryCent allows you to trade binary options at a minimum of 10 cents. This is lower than many binary options brokers.

BinaryCent offers a 1 Hour Processing Time – BinaryCent is faster than other brokers that offer binary options, which can take up 72 hours to withdraw money.

Weekend Trading – With BinaryCent you can trade non-stop even on weekends.

BinaryCent Offers Many Deposit Methods: From credit cards to cryptocurrency, BinaryCent has a wide range of deposit options to fund your account.

BinaryCent offers generous bonuses to traders who deposit their initial trading funds. The percentage of the bonus depends on how much you deposit. It can go up to 100%.

BinaryCent’s Trading Contests offer $20,000 in prizes to 20 winners each week.

BinaryCent is an excellent binary options broker for those looking for an intuitive trading platform that offers attractive payouts and generous deposits bonus. BinaryCent offers novice traders trades starting at 10 cents on a great platform.

6. RaceOption: Best Deposit Bonus

• Minimum deposit: $250
• Minimum investment: 1$
• Sign-up bonus: 20-100%
• Demo Account: Yes
• Underlying assets 150+

General Risk Warning: Your Capital may be at Risk

RaceOption is the right platform for you if you enjoy the thrill of binary options trading. RaceOption offers over 10,000 trades per day with more than 100 asset options, including stocks, cryptocurrencies, and commodities.

RaceOption offers a wide range of rewards programs that will help you increase your profits. Referring friends to RaceOption will earn you extra income – 20% of their deposits will be yours after they sign up. Participate in sweepstakes and giveaways on the site to win cash, iMac computers, iPads, and cash prizes.

RaceOption’s copy features are available to new traders who want to learn more about binary options trading. These tools enable you to choose a trader from RaceOption’s successful investors list and copy their trades. This will help you make better trading decisions.

RaceOption requires that you deposit a minimum of $250 and withdraw a minimum of $50. To minimize risk, trades can be placed starting at $1 once you have made your first deposit. You can also expect your withdrawals to be processed within one hour of you requesting them. Your funds will be in your account in no more than an hour.

RaceOption is not currently regulated in the US. It also doesn’t have a strong regulatory license from outside the US. Many traders believe they are a reliable platform for binary trading, so you can trust them as much as any other site on our list.

Overall, RaceOption is a great choice for traders who are looking for exciting bonuses and a safe trading platform.

7. Spectre AI: The Best Trading Platform on the blockchain

• Minimum deposit: No minimum
• Minimum investment: 1$
• Sign-up bonus: 20-100%
• Demo Account: Yes
• Inheriting assets: 150+

General Risk Warning: Your Capital may be at Risk

The Spectre.ai broker, the first global trading platform that does not require an intermediary broker, is called Spectre.ai. Specter was created with one goal in mind: to make trading fraud virtually impossible. Spectre.ai offers a broker-free trading platform. This unique platform allows traders to trade directly with one another or against the Specter pool through crowdsourcing technology. Spectre, which was launched in 2018, is the first online platform that allows retail traders to trade digital contracts. Spectre.ai doesn’t require you to deposit money with a broker. There are no brokers. You can trade directly from your wallet, which is possible thanks to the Ethereum blockchain.

The Spectre.ai team proposed that there be more than 2,000 markets for trading by the end of 2018.
You have access to many trading assets through one account. These include commodities, forex, EPICs and Forex. These financial instruments can be traded without you actually having them.

Members can speculate on the future price movements of the most liquid markets. Trades are also possible for the most sought-after commodities, such as gold and silver.

You can speculate on the volatile cryptocurrency market that is growing all over the globe. The Crypto market is almost asleep so you can still enjoy it 24/7. You can make the most of volatility in cryptocurrency by trading digital contacts and CFDs.

EPICs can be a valuable asset when it comes to the Specter benchmark. There are many Euro-based currency pairs that can be traded on the platform. Software audits data feeds and bases them on historical data. The EPICs can be traded 24 hours a day with an expiration of one second.

Spectre.ai, a Blockchain-based trading platform, does not require a minimum deposit. This makes it very affordable. You will need to utilize the vast resources available to get the best out of the market. Members can trade digital and hedged CFDs.

The platform connects traders with liquidity pools. The platform allows you to trade 24/7. This is great for all markets. The unique model ensures that there are no fraudulent opportunities.

The platform is fully Sharia compliant. It allows for fee-free trading which makes it easy to use by Muslim brothers and sisters. There is no minimum deposit, unlike traditional trading platforms.

Spectre.ai, the first platform that allowed traders to trade digital contracts, was the first of its kind. This is a new trading platform with proven results. This platform has seen payouts of up to 400%.

8. Binary.com: The best platform to trade on the MT4 platform

• Min. Deposit: $5
• Minimum investment: $1
• Demo Account: Yes
• Underlying assets 150+

General Risk Warning: Your Capital may be at Risk

Binary.com is a great place to begin if you’re new to the world of binary options. Binary.com is an online platform for binary options trading that has been in operation since 1999. Its simple website makes it easy to find out more about the market. Investors in Canada and the United States are not eligible for its services.

Binary.com is one of the most convenient binary options brokers, allowing you to trade 24 hours a day, even on weekends. The MetaTrader 5 platform offers more than 100 trading markets, including Forex, CFDs, and metals.

Binary.com offers a virtual practice account for beginners to learn about binary options trading. You can use this account to get a virtual $10,000 credit that you can refill at no cost. To trade funds, create a real account once you feel confident.

Binary.com’s speed is one of its best assets. Binary.com is lightning fast. You can trade binary options in a matter of seconds, and your portfolio can be analyzed in real-time. This allows you to make the best trading decisions. You can also customize your trading options, including your payout, asset and strike.

Binary.com requires a minimum deposit of $5. This makes it affordable for casual and new traders. There are hundreds of withdrawal and deposit methods available on the platform, including Bitcoin, Visa and Mastercard credit cards and Bitcoin.

Binary.com is licensed in Malta and the UK.

This site has received numerous awards for its reliability, integrity, and ease-of-use. Binary.com was named the best binary options broker by Global Brands Magazine in 2019. We agree that it has some of the greatest benefits of similar platforms.

Binary.com is a great broker for beginners who want a simple platform to trade binary options.

9. Nadex: US-Regulated Binary Options Broker

• Min. Deposit: $250
• Minimum investment: $1
• Demo Account: Yes
• Underlying assets 150+

General Risk Warning: Your Capital may be at Risk

Nadex, a US-based binary options exchange, is located in Chicago. Nadex is the only CFTC-regulated exchange that offers binary options trading.

Nadex has a range of trading platforms that let you take short-term positions on price movements in various markets. There are several options available: binary options, knock-out, as well as Call Spread contracts.

To ensure that your money is safe and secure, you must keep it in separate bank accounts.

These are the markets that Nadex can connect you to:

Forex – Trade fixed risk contracts for Forex on a variety of currency pairs, including EUR/USD and EUR/GBP.

Indices – speculate about the price movements of global indices like the FTSE 100 and the US 500. Pre-set risk levels, and lower fees than many stock and futures brokers.

Commodities – Low-cost fixed-risk contracts for commodity markets like crude oil, natural gas and gold.

Events – You can trade binary options that are based on economic events, such as weekly jobless claims reports, with Nadex to predict the strength and direction of the US economy.

You can place orders directly to the exchange through the Nadex Trading platform using its proprietary software. Over 5,000 contracts can be filtered daily by asset type, expiry date, and price. Binary options trades are subject to a $1 trading fee by Nadex. This includes entry and exit.

For trades that end “In the cash”, Nadex charges $1 settlement fee. If your binary options trade is “out of the cash”, however, you will not be charged a settlement fee.

You must deposit $250 minimum to open real accounts.

• Mobile app to trade on the move
• To practice, get a free demo account with $10,000 cash
• Pre-set reward and risk contracts
• To minimize losses, trades can be exited early.
• Desktop trading platform for intuitive traders that offers a variety of technical analysis tools.

What are binary options?

Binary options, a type of options trading, offer you two outcomes. You can either make a predetermined profit (or lose it) or you can trade.

Binary options trading requires you to answer a question. Will the market rise above a specified price by the expiry date? Each contract will pay $100 if you correctly answer the question. You will lose any money that you have invested in the trade if you give an incorrect answer.

Binary options can predict trends in stock indexes, commodities and events, as well as Forex pairs. Let’s suppose you have been following the silver price over the last few weeks. You predict that silver’s cost will rise to $1,100 per ounce by the end of this week, even though it is currently priced at $1,000 an ounce.

You don’t have to buy silver in order to make money from the price rise. Instead, you can purchase a binary option contract that includes your prediction. Prices for trading vary from $0 to $100, depending on whether the contract will expire below or above its strike price.

This scenario would see you purchase five silver binary options at $60 each. That’s $300. There are two options:

At shelf life, the silver price is below $1,100. Your prediction was wrong, and you have lost $300.
Your trade is “in-the-money”, meaning that the silver price was above $1,100 at the expiration date. Each contract receives $100, which is $500 in profit.
. Binary options can often be more profitable than traditional trading and buying. You can also take control of your risk by knowing exactly what you are at risk if you make a mistake.

You could lose your deposit if you try to trade binary options blindly. A broker platform can help you make profitable binary options trading.

Consider these factors when selecting a binary options trading platform

There are many binary options platforms available online. Some sites are reliable and safe, but there will be many sites that are illegal or risky.

Consider how each factor influences your decision when searching for a binary options broker.

Underlying assets

An underlying asset in binary options trading is a financial product you place your bets on. Many trading platforms provide a range of underlying assets. We have listed many sites that allow you to choose between over 100 financial products. The most popular markets include stocks, commodities, Forex and Forex.

Look for websites that are specialized in your area of expertise if you have an underlying asset. A platform that has a handful of products might be more beneficial to you.

maximum payouts

Binary options brokers may limit the amount that you can withdraw from any payout. For example, $1,000 or $10,000. Others charge fees for payouts from both sides of the trade. Your maximum payout is either 85% or 90% of your total profits.

Keep in mind the potential impact of a broker’s maximum payouts on your profits when searching for binary options brokers that are right for you. While some platforms compensate for low payouts by offering rewards or other perks to their customers, others take more of your money.

Minimum Deposits

Binary options brokers often require a minimum deposit amount to open a trading account. Depending on the platform, this amount could be as low as a few dollars or as high at several hundred dollars.

You should look for sites that have lower minimum deposits, such as Pocket Option and Quotex. If you are looking for a higher payout, a platform that requires a larger minimum deposit like RaceOption is a good choice.

It doesn’t matter what, you shouldn’t let any trading platform force you to spend more than you are comfortable with. Look elsewhere if the minimum deposit required by a site is too high.

demo accounts

Demo accounts can be beneficial to those who are still learning about binary options trading. Demo accounts can be created by many brokers to try binary options trading using fake currency. These demo accounts can be used to test whether your choices impact how much money you make or lose. This will help you become more confident before you invest real money.

Demo accounts allow you to test out different binary options brokers before making a decision. Before opening a real trading account, you can use your demo account for a better understanding of each platform’s features, interface and risk management options.

Restrictions in other countries

Binary options trading is highly regulated and certain countries have specific rules about how citizens can participate. Due to US trading regulations, many brokers are not allowed to operate in the US. Option trading is also regulated by the Financial Conduct Authority (FCA) in the UK.

Make sure you check that the binary options brokers you are interested in using are available in your area. It is illegal to try and bypass country restrictions using VPNs or other means. This could land you in serious legal trouble.

Deposit Methods

You should never give your bank account information or credit card information to a broker. Before you proceed, make sure they use secure payment options. Binary options brokers should specify which deposit methods they accept in advance, including credit or debit cards and cryptocurrencies.

When looking for the best broker, consider which payment method you feel most comfortable with. Once you have started trading on a platform, make sure to keep your bank account under control. Unstable websites may start making unauthorised withdrawals from it.

Speed of withdrawal

You want your money fast after you have made profits from your binary options contracts. Options brokers offer fast withdrawal times that allow you to get your money within 24 hours of expiration. Some sites require that you wait several days to receive your profits.

When looking for the best binary options broker, make sure to take note of any withdrawal times offered by a particular platform. You should search for platforms that offer instant withdrawals if you need to get your funds fast.

Trading applications

Brokers offer apps and web browser platforms that allow you to trade from many devices.

A browser-based platform is best if you intend to trade a lot on your computer. If you want to make trades and verify your account from any location, or to access your account remotely from your smartphone, then you will need to look for compatible iOS and Android brokers. Pocket Option and IQ Option, two of our favourite mobile-friendly brokers, are available.

How can binary options brokers make a living?

Binary options brokers can make money in a variety of ways.

First, brokers can act as your counterparty or broker. These platforms are called over-the-counter broker.

Binary options trades must have both sides. One side bets yes, and one side bets no. Brokers make money in the same way as brokers, winning some trades and losing other. These platforms have a lot more customers than the average trader, so their profit potential is often higher.

Others binary options brokers earn commissions. These brokers are intermediaries and match traders according to whether they wish to buy or sell. Commission-based platforms conceal commission rates in the spread of each contract or the difference between ask and bid prices so clients don’t know they’re paying extra money.

Brokerages that charge commissions tend to provide leverage to encourage larger trades and generate more profit for their brokerage.

Are you allowed to use multiple brokers for binary options trading?

Multiple brokerage accounts can be very beneficial for many reasons.

First, brokers may specialize in certain types of trades. You can open accounts for multiple types of brokers if you want to trade in different categories, such as binary options, call options, and short term trades.

Multiple platforms reduce the risk of you putting all your eggs into one basket. You won’t lose all your money if a site crashes, is fraudulent, or fails to meet your needs.

Some sites also offer subscriptions that will allow you to increase your initial deposit free of charge. To take advantage of these bonus offers, it is a good idea to have multiple accounts and to spread your money among them.

If you make multiple accounts on different platforms, it is important to keep track of all your activity. Multiple expiry dates can lead to missed deadlines and loss of profits. This could negate the benefits of multiple brokers.