There have been binary options brokers since 2008. Since then, dozens come and go every year. But which brokers are the right ones for you? Which brokers are reputable and offer you the options you need to trade successfully? The right choice of broker is considerably more complex than it looks at first glance!
Top Online Binary Options Brokers
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What brokers to trust
It’s a difficult question. This website has the same trouble finding good binary options dealers as everyone else, so we apply a couple of initial criteria for reviewing the brokers in the first instance:
- The biggest brokers online. This is often difficult to answer, but we try through traffic statistics and financial reports.
- Solid regulation through one of the established regulators such as FCA (in the UK), SEC (USA) or CySec (Cyprus).
- A solid payout. Trading binary options is gambling, so the odds most be as good as possible.
- Not banned. They must not have been banned by any of the big regulators (FCA in the UK, SEC in the US, or CySec in Cyprus).
- No bad stories about them in any newspaper we trust. For example, Banc du Binary have had a lot of bad stories in the Daily Mail in the UK; and so even though they are one of the large players on the market, we do not promote them here on our website.
- Phone support in English.
Even if the criteria do fit, please feel free to use resources other than this website as well. The binary options brokers that fulfil our initial screening demands are afterwards rated according to other criteria such as payout percentage, bonuses and deposits.
Be careful when choosing your binary option broker, and choose one of the solid and reliable brokers available. Also, if you are interested in forex trading make sure to choose an experienced and trustworthy broker.
Our advice to you is that when you trade binary options, you should use a broker who is either regulated by a recognised authority, or has a certain size or track record that makes them credible. On our list of best binary options brokers, you can see the brokers we recommend because they are regulated and/or have a reasonable size and history.
However, obtaining a detailed summary of 120 binary options brokers is not so easy. Or is it? At bestbinarybrokers.org we did just that. Due to our many years of experience in the capital market, we have identified the best brokers and put together a list for you. Take advantage of our experience and knowledge with our binary options brokers comparison.
The largest and the best binary options brokers online
The largest binary options brokers online (measured by traffic and general research in the market) are, quite rightly, 24Option and AnyOption. These brokers have between eight and nine million visits a month. Both are regulated from Cyprus through CySec. AnyOptions is, according to its website, further regulated through a range of other regulators in the EU, including the FCA in the UK.
Beside the largest platforms, the binary options broker market includes some other great brokers. Binaere Opsjoner.EU’s personal favourites include both some of the largest brokers online, and also some of the smaller brokers that offer either an excellent bonus programme, a solid payout, good regulations, and service in a Nordic language, or at least in English. See our picks below.
A brief introduction of binary options
Before trading with binary options, gaining experience is the basis for maximum yields. Binary options are a very simplistic financial instrument that have been derived from traditional stock options. With high simplification, the biggest opportunity is also the greatest risk. Sometimes the scope of decisions is underestimated due to simple use. Within a defined period of time, as a trader you will only make one decision: you bet on rising or falling prices. Based on this principle, binary options are also called digital options because only 2 choices are possible: 0 or 1. There are outstanding opportunities here especially for newcomers to the capital market to generate relatively manageable amounts in high returns. Unlike a traditional trading option, a capital investment is possible from €1. We have prepared an overview for you in our binary options brokers comparison. Refer to this table to see what minimum investment you can trade and what max. return you would like. Return is usually associated with risk. You decide the risk indirectly when making your choice.
Trade binary options successfully
Binary options trading is nothing other than making a decision based on the price of a particular previously selected financial instrument. The trader has two choices as a basis: rising or falling prices. If, as a trader, you bet at an increasing rate, you acquire a call option; put options characterise falling prices.The binary trade underlying financial instrument is referred to as “underlying”.
With regard to binary options, the underlying assets vary from broker to broker. In our detailed binary options brokers reviews, we have listed the underlying assets offered by each broker. We recommend here top brokers anyoption and BDSwiss. Indices, commodities, and foreign exchange (currency pairs) can act as underlying assets. Popular speculation objects are underlying assets such as price trend euro / dollar as a currency pair or gold and oil from the field of raw materials, or the DAX and Dow Jones from the category of indices.
Risk and return are always kept in mind
Risk and return go hand in hand with binary options. High returns and short maturities of up to 30 seconds mean enormous risk. You should therefore not act emotionally or thoughtlessly. A strategic approach and acting mindfully is what makes a successful trader. You can earn a return of between 85% – 90% depending on the broker per trade – if you were right in your assessment of the market, that is, your option is in money. If you are wrong in your assessment, your option is out of money and you lose your invested capital. You can see an overview of the returns to be generated from the broker in our binary options brokers comparison in the table above this article.
Reputable binary options brokers
We would like to give you a bit of security with our online broker comparison. We have thoroughly checked the best brokers. Regulation is absolutely one of our most important quality criteria. Make sure you only choose brokers that are regulated by uniform standards and by appropriate tax authorities! This regulation ensures you security, integrity, and protection as a trader and makes the difference between trading and gambling. Any reputable broker strives to provide and maintain minimum standards. Although binary options are an OTC trade – that is, an off-exchange financial product, there are financial supervision legal rules that guarantee regulation.
Bonus offers for binary options brokers
Brokers often offer bonus deals to win over customers. We have checked these bonus deals for you and show you what’s behind them. The bonus conditions are often difficult to implement and you will be disappointed because you had a different expectation. This cannot happen thanks to bestbinarybrokers.org! We regularly inform you about current bonus deals from brokers of binary options and explain the respective conditions. This means you will avoid any disappointment.
Binary options: fraud or reputable?
Due to high returns and high risk binary options, binary options brokers are often called untrustworthy. We follow up on this preconception. In principle, it is like any financial product: Precautionary planning and information are even more important with binary options than signing a life insurance policy or purchasing a share.
In our tests we only compare reputable brokers. Brokers who are chosen by us are reputable, regulated, and have many years of market experience. There are only nuances that make every broker special: Some brokers are better for beginners and others are better suited for professionals. Other brokers offer additional services that, depending on the type of trader, can be more or less important. The training programme is also significantly different from binary broker to binary broker.
From binary options beginner to professional
bestbinarybrokers.org is your independent information website for all issues related to binary options and binary options brokers. We see ourselves as your consulting partner and would like to provide you with compact, reputable, and targeted information to make you a successful trader. We shed light on many different aspects of trading binary options: From the basics of “What are binary options” to specific issues such as the “flat tax” or “contra-trend strategy”, we have visualised the relevant aspects of binary options which should ultimately prepare you for the capital market. Form your own opinion with qualified information from one source! We are here to assist you – from beginner to professional. We create transparency in the complex digital options market.
Knowledge is power
Digital options require more intensive knowledge due to their high level of simplification. You decide via your actions and knowledge if the capital market is a gamble or predictable for you. Betting on rising and falling prices based on your gut feeling is not a strategy. Luck has nothing to do with strategy. Make the market predictable from your knowledge! Act methodically and strategically.
Binary options: use the demo account
Some brokers offer their customers a free binary options demo account. We recommend 24option. Working with binary options successfully is based in large part on experience. This experience can be wonderfully gained without risk using a demo account. If you ask successful traders today what the main feature of their success is – experience is always the answer. Learn to assess situations and risks correctly – e.g. with the free demo account with 24option. Traditional plain vanilla options such as call/put options on the DAX are relatively easy to handle. But what about high yield of options or very risky 30/60 seconds trades? Do not test these types of options with real money! Make use of the broker deals. Use the demo account to gain practice and experience!
What should you look for in a binary options broker?
When looking for the right broker for you, it is a good thing to look into some aspects of binary options trader platforms:
Regulation: One of the most important aspects of finding the right binary options broker is that the broker you choose is regulated by a proper authority. The proper authority is important in order to ensure that everything is done by the book.
Payback percentage: The binary options broker’s payback percentage is very important. Binary options is a lot like gambling in a casino, or regular betting, and it is important to make sure that you are betting at a broker with a respectable pay-out percentage, otherwise you will get lousy odds.
The user experience: Graphics and design are important factors in binary options trading, which is first and foremost to be considered as entertainment.
The brokers’ size. Binary options is relatively new, and it is important to know about the broker’s size, nationality, etc.
A phone number: Even though this is the Internet age, nothing beats speaking to a customer service person when you experience trouble at the broker. A broker without a visually phone number is NOT one our favourite choices.