Binary Options Broker Sites
Binary options brokers offer you the chance to trade binary options in an environment that is carefully designed to make trading both intuitive and profitable. In today's world of advanced technology, there are now more brokers than ever before, all competing to offer you the best trading experience. The key for these brokers is to make sure that they tick all of your boxes.
The benefit of the broker is that they help you to maximise your trading experience. Whether you want to trade on the go using a mobile device, get bonuses for trading large volumes or learn how to trade with their education centres, they are all competing to offer a better service than their competitors and this is good news for you.
The trouble is which one do you choose? How do you tell the reliable ones from the scam brokers and which one is going to offer you the best returns? Our job is to help make the process of choosing a broker an easy one. We review every broker to ensure that we are only bringing you the best.
How do you choose the best binary options broker? In this guide, you will discover:
- The key features you should look for in your online trading site
- How we rate and rank different websites to give you a better choice
- Why the right broker can make a difference to your trading experience
Our Top Recommended Websites Updated: April 2018
What Makes a Great Broker
There are many factors that make a good trading broker. From the payouts that they offer to the format of their trading platform you should be looking for those that offer a good all-round package. They may not offer the best bonuses but their payouts more than make up for it. Their site may not have all the bells and whistles but it does what you need it to. Let's take a look at the key things that make a good broker:
Now while this is a comprehensive list, it is not exhaustive and you may have requirements that aren't on this list. We are here to help you select your preferred brokers so that you can make a decision based on the facts.
Bonus And Welcome Deals
The bonuses and incentives offered by a broker can be a deal breaker for many. Most people love getting something for nothing and the more attractive the offer, the more you may feel drawn to that particular broker. Now the bonuses offer vary greatly and some are outweighed by other features of the platform but in order to stay competitive and win their share of the market some bonuses can be very generous.
Binary trading brokers think nothing of offering a 100% match deposit bonus as a reward for you depositing your cash. There are criteria you need to be aware of though. A bonus may seem like free money but you must understand that it cannot be withdrawn the minute it is rewarded. In order to withdraw the bonus many brokers stipulate that you must trade the cash a certain number of times before it can be withdrawn.
If you are new to trading look out for no deposit bonuses. This type of reward means that you can sign up to an account and get a bonus without risking your own funds. Simply use the bonus to practise and get the hang of trading before you decide to deposit your own funds. Used in conjunction with a demo account, a no deposit bonus can allow you to get to grips with the features of the platform and trading before you actually encounter any risk at all.
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Popular Broker Features
There are so many features of a binary options broker that we could be here all day explaining them all. Here are some of the top features that you should look out for when making your decision:
Licensing And Regulation
This is often a priority for many traders. You need to know, when selecting your broker, that they are a genuine business and that your money is going to be safe. There are some key things to look out to determine whether you can trust a broker. Always look for their licensing information, if they are licensed by CySEC this is a good indication of a reputable company.
You can also look at online reviews to see the various feedback. In addition to this you can be confident in the knowledge that we only recommend the best brokers that are both safe and reputable to trade with.
The Demo Account
What is a demo account and how does it work? Well this feature allows you to test a platform before committing any of your own money. Usually you are credited with $10,000 as an example. Now this is not real money but virtual funds. You then use this money to practise trading on the platform. You are not placing live trades, this is a simulation of live trading to help you understand the various features and functions and what it feels and looks like to trade.
Usually there is a restriction about how long you have to use the demo platform. Then if you like it, you can deposit your own money and trade for real or get someone else to via a managed account.
Really Good Payouts
This is absolutely a consideration when choosing a broker site to trade with. You want to make sure that you are maximising your potential earnings. Brokers offer a range of payouts, some much higher than others. Some look too good to be true (and often they can be) and some look lower than average. We give you the relevant information to assist you in making your decision.
We Find The Best Brokers
Our job is to find the best broker sites and present them to you with all of the facts. In order to do this our team of experts trawl the world wide web looking for the best binary options brokers and check them out. Now when we say "check them out" we mean really putting them through their paces, and that means all types, even Forex platforms and CFD brokers.
As experienced and successful traders ourselves, we spend time trading on the multiple platforms, making sure that each and every broker is tested for a list of criteria. The requirements include everything from welcome bonuses to licensing and regulation, in addition to the payouts and whether they have a good customer support system.
It is really important to us that you get the best trading experience possible and therefore we only put our name to those brokers that we are 100% confident with. They must be trustworthy and they must offer an excellent trading experience. They may not be as good in some areas as they are in others but every trader has different requirements. We just put the information in front of you in a format that is easy to digest and that allows you to make the most informed decision.
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Frequently Asked Questions
Is binary options trading regulated and safe?
This very much depends on the country you are in but in many countries online investing is not regulated. There is much debate about who it should be regulated by and steps are being taken to regulate it. The key is to choose a broker that is licensed by a reputable source like CySEC, this licensing is safe and approved and means that your broker will be more reliable. Like any kind of trading you should be aware of the risk of losing money and should only trade if you can afford to do so.
Can I trade without downloading software?
Some brokers require you to download software to trade on your PC or Desktop but for those trading on a mobile device there is no need to download anything. Simply log in and trade. If you wish to trade from an app on your iOS or Android device you will be required to download that app. If you wish to conduct automatic trades then you will need to download binary options robot software.
Do I need to start trading with real money?
No, many now offer demo accounts where you can sign up and trade with virtual money before risking your own money. This virtual account is sometimes only available for a limited amount of time like 48 hours and after that time you are required to start trading with real money. There is also the option with some companies to trade using a no deposit bonus. Basically when you open an account you are given a bonus before you deposit any funds.
How do I make deposits and withdrawals?
You can use many methods to deposit funds. Most brokers accept major debit and credit cards like Visa and Mastercard as well as other widely accepted cards. Another popular way to deposit funds is via Paypal, many people globally now use this to make online transactions. Bank wire can be a lower and more complicated way of depositing funds but allows traders to deposit on the same day. When withdrawing funds it is usual to withdraw to the same method as the initial deposit was made.
What is a binary broker welcome bonus?
Many binary options sites offer a welcome bonus, an incentive offered to encourage potential new account holders to sign-up. The bonus varies from broker to broker but is usually a percentage of the initial funds deposited. Some offer a no deposit welcome bonus which allows the transfer the opportunity to trade with the bonus funds before they use their own money to trade. Other welcome bonuses include a deposit match bonus where the broker matches 100% of the deposit.