Binary Options Brokers
Binary Options Brokers 2017 – Country-by-Country Trading Comparison
Across the world, there are more than 400 platforms that allow you to trade in binary options. That number is growing every year and is a significant increase over the situation in 2008, when there were only about 10. This increase in the number of available platforms has benefited investors as it has improved competition. This means better returns and bonuses, but how do you select the best for you?
Everyone starting out in the binary options trading market has to select either a platform or broker. It is one of the most important decisions you will make, yet it is also one you have to do when you don’t know much about the market. That’s where we come in. We have analyzed and tested a vast range of the trading platforms and brokers available so that you can quickly compare and easily find which is best suited to your needs.
You can have peace of mind that the information you will find in our comparison is accurate and up to date wherever you are in the world.
Follow these 3 easy steps to get started:
Choose you favourite broker
Register a broker account
It is recommended to sign up to a few broker accounts to make sure you have a good variety of assets to trade.
Start trading with 4 easy steps:
Guide to Finding the Best Binary Options Trading Brokers
There has been a significant increase in recent years in the volume of binary options trades taking place. This is largely driven by the emergence of new technologies, which has made trading platforms more accessible and user friendly. The regulatory infrastructure of the binary options trading market has not kept pace with the increase in popularity however. Some jurisdictions have local bodies that regulate binary options trades and other similar markets, like Forex. There is no overarching regulator though, and the situation varies from country to country.
Where regulators do exist, they focus solely on their own region. Usually their objective is to protect binary options traders by monitoring the activities of brokers and trading platforms, such as IQ Option, 24option, Copyop, Finpari, Opteck, Stockpair or Binary.com.
One of the downsides of the industry is that it is not always clear to a trader whether a broker or trading platform is genuine or trustworthy. Some people get tricked with promises of big bonuses or other offers. It is therefore important that everyone considering getting involved in binary options trading should get an understanding of the laws and regulations in their country or region.
For example, in the U.S., binary options trading brokers are strictly regulated. As a result, most of them block U.S. traders, allowing them to work under less strict conditions. This happens in other countries too.
Finding your way through the options available is challenging. Our 2016 guide for selecting a binary options trading broker or platform will help.
In the following sections, you will find information you need to know for your region as well as a list of suitable brokers and trading platforms. We have put each of them to the test, and they all have good reputations. All you have to do is pick an option from the list, sign up for a new account, and start trading.
Binary Options Brokers in the U.S.
The legal situation with binary option brokers in the U.S. lacks clarity. The two main regulators with responsibility for financial trading online—the National Futures Association and the Commodity Futures Trading Commission—have yet to put in place a specific system for binary options brokers. Some are licensed, but most are not. If you are a U.S. citizen, your options are to use one of the regulated binary options brokers or use one that is based overseas.
There is therefore significant variation in the standards of binary options brokers. The best advice for people in the U.S. is to conduct research on any broker they are considering. To help with this, you can check our list of tested binary options brokers that allow U.S.-based accounts.
What to Look for in a U.S. Binary Options Trading Broker
There are a number of things you should look at when considering whether or not a binary options trading platform is trustworthy and reputable. Here are the top three:
1. Deposit and withdrawal options – Some brokers and trading platforms either do not offer U.S. banking facilities or they charge high fees. You should check this before signing up. You need to make sure you will have the ability to deposit and withdraw (don’t forget the withdrawal part). You also need to make sure the charges are either free or minimal.
2. U.S. dollar currency option – Some binary options brokers and trading platforms do not let traders use U.S. dollars. This does not stop you from setting up or managing an account. You will have to do it in another currency however, which means you will probably be charged fees for currency exchange. It is almost always best to use a broker that lets you manage your account in U.S. dollars.
3. Mobile trading ability – Many of the binary options trading brokers available in the U.S. that we have investigated only have desktop platforms. This does not suit many modern traders, who also want the ability to trade on mobile. If this is important to you too, you should make sure the broker you are signing up with offers a mobile option.
Binary Options Brokers in the UK
People living in the UK have a number of options available to them when looking at binary options brokers and trading platforms. This includes using services based in the UK, in Europe, and, in some situations, those based elsewhere in the world. We have investigated each option to find the best brokers available.
When analyzing the choices available to people in the UK, we looked at these factors plus a range of others, including the reputation of the platform or broker and the experiences of the people using it. Our list of recommended sites is therefore something you can have confidence in.
One of the best platforms we have found for UK-based traders is called 24 Option. A lot of traders who frequent this website have given positive reports about 24 Option, praising its customer service and success in trading profitably.
They also have fantastic bonuses and offers, including a welcome bonus worth £3,000 for people signing up for a new account. It is easy to claim and is a great way to get started with trading binary options.
Binary Options Trading in the UK – What You Need to Know
Binary options trading in the UK is much easier than it is in most parts of the world. It is a legal and open market, with plenty of choices when it comes to brokers and trading platforms. Those that have made it onto our approved list all offer excellent terms and conditions to UK-based traders.
Making Deposits and Withdrawals
One of the key things we look at when investigating binary options trading platforms and brokers is their banking and payment policies. In particular, we investigate if they offer banking options for UK-based players, and we look at the fees they charge, if any.
The picture in the UK in this regard is mixed, but we have kept the standard high with our list by only including platforms that give traders in the UK a wide choice of deposit and withdrawal options. These choices must include credit card, debit card, bank transfer, and electronic wallet.
Binary Options Brokers in Canada
The binary options trading market in Canada is unlicensed. It is therefore one of the most open markets in the world. This has advantages and disadvantages. The main advantage is that traders living in Canada can trade however they want completely legally. The main disadvantage is that the lack of regulation leaves the market open for unscrupulous brokers and platforms.
It is therefore essential that traders do proper research before investing their money in a particular binary options broker or trading platform. Our list of approved websites is a good place to start as we have applied rigorous tests to filter out those that offer poor service or low returns to traders. Some of the brokers on our list are even licensed in other jurisdictions, which also benefits Canadian traders.
Binary Options Trading in Canada – What You Need to Know
Unlike many other countries around the world, trading in binary options is easy in Canada. In fact, it is one of the best places in the world to trade as there are no restrictions and plenty of platforms to choose from. Our list of approved brokers will give you peace of mind that you are signing up to a reputable website. In addition, you can usually get fantastic welcome bonuses at these brokers, helping you get your trading career off on the right foot.
Making Deposits and Withdrawals
Traders in Canada have a range of options for making deposits and withdrawals at a binary options broker. Most of the options are free, but you may encounter transaction fees when using electronic wallets. These are convenient services, but the fees may affect the profitability of your binary options trading. We therefore recommend that traders in Canada use alternative banking methods, such as credit cards, debit cards, or bank transfers.
Binary Options Brokers in Australia
The regulator in Australia governing the sale of financial products is the Australian Securities and Investments Commission (ASIC). For many years, it had no formal position on the binary options trading market, but it has recently clarified this. It has confirmed that it classifies binary options as a derivative. This means binary options brokers and trading platforms have to be licensed in Australia by the ASIC.
This changed the industry in Australia dramatically, and currently there are no licensed brokers in the country offering binary options trading facilities to Australian citizens.
Trading in binary options involves a significant element of risk, plus there are many untrustworthy brokers and platforms trying to get new traders to sign up. It is therefore essential that you stay up to date with the rules from the ASIC and also check if any new brokers get licenses to operate.
We do not offer financial products in Australia. In fact, we don’t offer financial products for sale anywhere in the world. For your information only, we have published our approved list of binary options brokers below. They are not based in Australia, and they are not licensed by the ASIC. They have met our strict standards for quality and honesty however, so we have no hesitation recommending them.
Binary Options Trading in Australia – What You Need to Know
Australia has a long history of binary options trading despite the recent restrictions placed on the market by the ASIC. As a result, most traders do not encounter any difficulties when signing up for a trading account or placing trades.
Making Deposits and Withdrawals
Most binary options brokers, particularly those on our approved list, offer a range of suitable banking options for Australian traders. Some of the most popular methods of making deposits and withdrawals are using a credit or debit card. You can also transfer funds using your bank account.
These are usually the most cost-effective options you have available, but you can also use electronic wallets. Transaction fees are usually higher with this option, but many people value the convenience.
Binary Options Brokers in Europe
People living in the European Union have more options for trading binary options than people living in any other country in the world. This is because of the common market that allows citizens to trade with companies in any member state without restriction.
Each member state has its own financial industry regulator. These regulators control the sale of financial products, including binary options. We therefore advise you to use a broker or trading platform that is licensed. It doesn’t have to be licensed in your country, but you should make sure it is licensed somewhere in the European Union.
Here are the main regulatory bodies operating in Europe:
United Kingdom – The Financial Conduct Authority regulates financial products and services in the UK.
Italy – The Commissione Nazionale per le Società e la Borsa regulates financial products and services in Italy.
France – The Banque de France regulates financial products and services in France.
Netherlands – The Authority for the Financial Markets regulates financial products and services in the Netherlands.
Spain – The Comisión Nacional Del Mercado de Valores regulates financial products and services in Spain.
Sweden – The Finansinspektionen regulates financial products and services in Sweden.
Germany – The Bundesanstalt für Finanzdienstleistungsaufsicht regulates financial products and services in Germany.
Hungary – Pénzügyi Szervezetek Állami Felügyelete regulates financial products and services in Hungary.
Denmark – The Finanstilsynet regulates financial products and services in Denmark.
Czech Republic – The Czech National Bank regulates financial products and services in the Czech Republic.
Slovakia – The National Bank of Slovakia regulates financial products and services in Slovakia.
Binary Options Brokers in India
It is important to use a binary options trading platform that is tailored to users in your country. This ensures you can place the trades you want safely and securely. It also means you will have suitable banking and currency options.
What about the situation for traders based in India then? Luckily, you have a number of suitable platforms to choose from. We have tested all the major trading platforms and measured them based on their suitability for Indian traders. Each one of the sites on our list is fully tested and approved by us, so you can have confidence in your selection.
The types of things we look at when deciding to recommend a binary options broker to people living in India includes:
Binary options you can trade – We only include sites on our list that offer the widest possible choice of binary options to trade.
Accessibility – The sites we feature have to be available 24 hours a day in all jurisdictions, including India. They also have to be easy to use, particularly for new traders.
Currency – The sites on our list also have to offer a range of currency options.
Features – We also look for special features like minute trades, early exit trades, and more. Features like these make trading binary options easier and enhance your overall experience.
Making Deposits and Withdrawals
If you live in India, you will find a number of options for making deposits and withdrawals on our recommended list of platforms. All of the binary options brokers at the top of our list offer multiple banking facilities, so you can use the one that best suits your needs.
This includes banking by credit card, debit card, or bank transfer. Most also accept a range of different electronic wallets. Check the transaction fees that are charged when you use electronic wallets, however, as they are often higher than the fees charged for other methods of banking.
What to Look for in a Binary Options Trading Broker
There are a number of things you should investigate when considering whether or not to sign up to a binary options trading broker. It can be hard work pulling all the information together. However, it is important for proper comparison. Luckily, we have done that work for you. Our reviews list all the important information in one place, and they include information that is hard to find but that is crucial to the management of your account and the potential of making a profit. Once you browse through our reviews, you will have a better understanding of the different platforms available in the market, which makes it easier to settle on one that suits your needs. There are a few unreliable automated services that should be avoided, such as Millionaire Blueprint, Quick Cash System, The Brit Method, Copy Buffett Software, Pearson Method, Google Trader and Free Money System.
Here are the things we look at when analyzing a binary options trading platform or broker. Look out for them when reading our reviews:
Special features – This is often what differentiates one broker from another, so it is important to know what each one offers. Our reviews list the special features you have available as well as any conditions attached to their use. For example, some special features are only available on some platforms when you have made a deposit of a sufficient amount.
Bonuses – Bonuses are commonplace in the binary options broker market. They exist to entice new customers to register, and these are usually presented in a way that is very appealing. They almost always have terms and conditions attached to them however. Those terms and conditions sometimes make the bonus much less attractive than it may first appear. We give you all the information you need in an honest and transparent way so you can take an informed decision.
Trading software – We look at the underlying software used by the broker or trading platform. We have experience in using them all, and we know which ones are best. This information is given in each review. The software you will see most often includes Tradologic, SpotOption, MarketsPulse, and TechFinancials.
Assets – We give you as much information as possible in our reviews on the assets each platform makes available for trading.
Customer support – We test the customer support offered by a broker or platform in the real world. That means we actually contact them and give them a problem to resolve. How well they respond to our query determines what we say about them in our review.
Payments – This is one of the most important considerations when registering for a new binary options broker account. We therefore list all the banking options that are available. We also give you as much information as possible on the platform’s minimum deposit rules.
Withdrawals – Withdrawals is an area that sparks the most complaints from binary options traders. We therefore investigate this thoroughly to give you information on the rules a platform operates in relation to withdrawals as well as how long it takes the platform to process a withdrawal request. This will give you an indication of how long it will take to get access to the profits you make.
Various websites on the Internet offer reviews of binary options brokers, but none go into the level of detail that we do. We are the best place for detailed information as we focus on the most important aspects of trading on a particular platform. We also review the information regularly, revisiting each platform to see if there have been any changes to their service, either positive or negative.
It takes time to read through our reviews and make comparisons, but it is much quicker than doing all the research on your own. Make sure you read the reviews though as it is essential to do research to protect your money and privacy. They will also help you get your trading career off to the best start possible.