The three best Binary Options trading platforms presented
In this guide, you will learn everything about binary options trading platforms, the best choices, and their features.
Thanks to the Internet, almost every kind of transaction can be done online: shopping, paying bills, or even trading. Increasingly, almost all kinds of assets can be traded online on a wide range of platforms.
Binary options trading has become quite popular because online platforms has made it so much easier to profit from this specialized type of transaction.
A brief history about Binary options
Binary options are not exactly new. It has been around for many years, and at the start, only the extremely wealthy and massive financial institutions had access to it and its potentially lucrative returns.
In 2008 the US SEC or Securities and Exchange Commission allowed binary options to be traded via an exchange.
Since technology and the internet have evolved rapidly since that time, binary options became accessible throughout the world. People from all walks of life can trade and possibly achieve great returns.
Not surprisingly, the demand for these binary or digital options has steadily increased, and these digital assets became must-have trading options for savvy traders in cyberspace.
What is a Binary Option?
To explain it simply, it is another financial alternative that a trader can take that comes with two compensation options: a determined monetary amount or nothing at all. It is called that way because there is no other settlement beside the two choices provided.
Its main contention of a binary option is a yes or no proposal: can an underlying asset be above or below a definite price at a certain time? If that is the case, you can make significant earnings by trading its straightforward financial instruments.
Binary options are derivatives that you can trade on any market or instrument. Its appeal is in its straightforwardness. You will know exactly how much you can win or lose before you even trade. You would not need any complicated mathematical equations or a calculator to trade in them.
You can choose from a host of derivatives. You can trade on commodity value like aluminum and crude oil. You can choose stock prices, like Facebook and Amazon.
There are also forex rate options that include all the minor and major pairings. Even cryptocurrencies are included, like Litecoin, Ethereum, and Bitcoin.
Two types of binary options:
- Cash-or-nothing binary option- Its payout is either a strike price (a fixed amount from an underlying stock that surpasses a preset threshold) or nothing at all.
- Asset-or-nothing binary option- It is a kind of digital option that has a payout after the underlying asset surpasses the fixed threshold or strike price.
These are also known as all-or-nothing options, FROs or fixed return options, or digital options.
You will learn more about the aspect concerning digital options, which are commonly used in an interest rate and forex markets.
The 3 Best Binary Options Trading Platforms
Before going through each of the three binary options trading platforms, it is essential to understand that they are not equal.
In comparison with each other, not all binary options trading platforms have excellent payouts. Some may have a larger deposit bonus or quicker withdrawal.
Selecting the right binary options trading platform will boil down to your priorities in trading.
So here are three of the best ones:
Quotex describes itself as a new-level binary options trading platform.
It is one of the newer brokerage platforms online that was launched in 2019. The team that comprises its developers are specialists in their respective fields with years of experience, and some spending more than ten years honing their skills.
All in all, there is a total of two hundred years of the team’s experience, which enabled them to create this excellent binary options trading platform.
Awesomo Ltd, a company based in Seychelles, has proprietary rights over Quotex. It is regulated by IFMRRC or Financial Markets Regulatory Center and became a certified licensed broker in 2020.
However, it seems that the company is not registered under the Seychelles Monetary Authority, which regulates all activities done by currency brokers. Since IFMRRC is merely a self-issuing entity instead of a fiscal oversight body, it has no regulating power over the company.
So in other words, Quotex is not regulated by an official financial authority which means your capital might be at risk.
Quotex is a modern binary options trading platform for forward-thinking and technologically savvy people. Its main advantage is its superior quality in each digital trading aspect, which includes advanced tech and appealing features for beginners and expert traders alike.
This brokerage platform’s primary purpose for operation is for combining powerful and complex trading tools with simplified digital options products.
The team of specialists has designed the best functionalities concerning financial management, which includes an extremely fast computer interface and quick updating of quotes. These enable the users for a streamlined online trading experience.
Now withdrawing and depositing your money is stress-free and can be done as quickly as possible. There will be no transaction processing, queues, or delays whatsoever.
There is also excellent customer support service. Each support member can provide lightning-quick responses to queries and a sincere desire to assist people.
Once you have registered and opened an account, you can access the binary options trading platform and begin trading.
Once you have successfully logged in, you will first need to choose an asset to trade. If you win a trade, each display will then portray a return of investment of up to ninety-eight percent. You will also need to pick a start time, which you can set immediately and could be for one minute to four hours.
Then place your investment amount, which is how much capital you want for investing in your market position. Select up or down to follow the direction of the asset price.
When picking an asset, the price list is highlighted in actual time. Traders can then see the data in many charts as scheduled from five seconds to one day.
The Quotex binary options trading platform has nine indicators that are customizable to your preference. There are also fifteen drawing tools to use for predictions.
Users can have access to copywriting strategies to duplicate successful trades by sellers with just one click of a button. The interface of this binary options trading platform will also enable the users to view the top ten traders for that particular day. You can also see the market signals, different assets (with analyst recommendations for each), directions of each price, and the lengths of the copy trading format that you can choose.
However, MT4 or MT5 platforms are not available.
This binary options trading platform has also an excellent and advanced interface. It is user-friendly, which makes it well-suited for beginners and professional traders.
All the essential tools and functions are organized conveniently, which enables its traders to effectively and efficiently engage in financial management. Also, you can customize the trading method to your specifications.
The Quotex binary options trading platform has over four hundred ten trading alternatives. It has twenty-seven currency pairs, from the biggest to the most exotic.
You are also able to trade in cryptocurrencies like Bitcoin, Litecoin, Ethereum, and Ripple. For indices, there are fifteen major stock exchanges like Dow Jones and FTSE 100.
For trading in commodities like silver, gold, oil, and other popular metal and energy sources.
This review is also happy to report that this binary options trading platform has a top-notch asset offering of cryptocurrencies, even though there is still a narrow market in c comparison to other brokerage sites.
This binary options trading platform provides only one kind of trading account. Its users can still fully access digital products, many promotions that the site offers, and its customer support.
Accounts can be opened using US dollars, rubles, euros, Brazilian reals, and Ukrainian hryvnia.
Upon opening an account, you can begin by depositing at least ten US dollars. You can deposit money from a cryptocurrency, a bank card, or an electronic payment system. Fortunately, Quotex does not charge any withdrawal or deposit fees.
You can also open a demo account that has 10k US dollars of tradable funds. You can still access all the trading features but has limited access to a few proprietary details.
The minimum amount for withdrawal is also ten US dollars. But if you withdraw using Bitcoin, it is fifty US dollars.
The withdrawal period takes one to five days. But Quotex will try to make your payment on the day the withdrawal request was made.
Payment alternatives are limited to cryptocurrency for residents in United States, Germany, Hong Kong, and Canada. However, sellers living in these places can still register and open accounts.
The Quotex binary options trading platform does not provide leverage investments. It can cut down on losses but can place limitations for beginners.
This broker has a downloadable app for Android devices, but for iOS devices, it is still under development. Its web browser can also be accessed on desktop and mobile devices.
Since this is one of the best binary options trading platforms, dealing with binary options means you will be investing in falling and rising prices. After the expiration time, the price has to be below or above your strike price, regardless of how much it is moving.
The price must be above or below the strike price so that you can get a high profit of about ninety percent plus.
This brokerage site offers bonus payments to its users. It can be ten to eighty percent of the deposit amount, which depends on the promo code. For instance, you can receive an eighty percent welcome bonus for your first deposit of one hundred dollars. Before trading in it, be sure to go through its terms and conditions.
This binary options trading platform accepts traders living in Germany, France, India, Hong Kong, Singapore, South Africa, United Kingdom, United States, Canada, Australia, Thailand, Norway, Sweden, Italy, Denmark, UAE, Saudi Arabia, Kuwait, Luxembourg, Qatar, and other countries.
Benefits of Quotex.io
- Regulated by IFMRRC
- Provides free demo account with tradable funds of 10k US dollars
- Minimum deposit of ten US dollars
- Quotex offers more than four-hundred-ten digital options, including twenty-seven forex pairs, four cryptocurrencies, fifteen indices, and more than three commodities
- Has only one web-based platform
- “N/A” regarding spreads
- Does not charge commissions
- 24/7 multilingual feedback, live chat support, fill an online form hosted by website, or email [email protected]Convenient trading interface, integrated signal provider, trade indicators, copy trading function, training with major traders
2. IQ Option
If you are looking for one of the best and most trustworthy binary options trading platforms there is, IQ Option might be the one you need.
It is mostly known for being an intuitive and dependable binary options trading platform that has competitive fees, excellent customer support, and an uncomplicated account opening process. It is the best one for beginners and experts alike.
The IQ Option binary options trading platform is a legitimate brokerage firm and is held in high esteem in the industry. Aside from binary options, this platform also allows its users to trade in financial instruments like foreign exchange, stocks, commodities, EFTs, and cryptocurrency.
This binary options trading platform is owned and operated by IQ Option Limited and was founded in 2013. Due to its early start, it quickly became one of the most well-known and sought-after trading sites for traders all over the world. It has over forty-eight million registered members and more than one million transactions per day.
IQ Option accepts memberships from more than two-hundred-thirteen countries like the Philippines, India, Nigeria, Malaysia. South Africa, Singapore, Pakistan, and a lot more.
This binary options trading platform has its base of operations in Cyprus, whose regulating body is CySEC or Cyprus Securities and Exchange Commission. It is designated as a CIF or Cypriot Investment Firm, with the license number 247/14.
It is registered under the name IQ Option Europe LTD, which means they can only provide service to clients within the EEA or European Economic Area.
For traders that live outside the EEA, their accounts are managed by the sister company called IQOPTION LTD. It is registered in St. Vincent and Grenadine and is not regulated.
Traders especially like that it provides a free account for its users, accessibility, and a low minimum deposit.
In comparison to other brokerage firms that utilize a standardized trading platform, IQ Option is customized to suit the needs of its users, which makes it easy to use and is excellently designed.
Its best features include technical analysis, multi-charts layouts, volatility alerts, historical quotes, stock screeners, market updates, and many more. It can also be translated into thirteen different languages.
This binary options trading platform is available on both mobile and desktop devices. Mobile trading has become popular since more online tasks can now be done through smartphones instead of desktop computers.
IQ Option also has a downloadable app, which functions similarly to the desktop platform. It is available for iOS and Android devices, which you can download on Google Play and Apple Store.
With the iOS version, it was redesigned to follow a rule change concerning Apple’s trading in binary options. While CFD, forex, and cryptocurrency are still available on the app.
Windows has an application variation of the desktop site. All devices and versions you can find IQ Option, offer the same streamlined, intuitive, and user-friendly platform.
With this app, you can still trade, utilize charting tools, check the status of your account, and set notifications and alerts.
IQ Option has fantastic technical indicators that can assist its users’ monitor and distinguish trends. They provide insight into which particular trades are potentially profitable.
If you want to get the most of the trading experience with IQ Option, it also has a wide display of charting tools that has options to allow the users to plan their trading strategies. The available types of graphs provided are bars, hollow candles, candles, area, and lines.
This binary options trading platform has two kinds of accounts a user can select: Standard and VIP.
For the Standard trading account, only ten US dollars is the required minimum deposit. You can access more than three-hundred-fifty assets and withdrawal processing for twenty-four hours.
A VIP account is only accessed if a user deposits more than 1.9k US dollars in two days. Its features include monthly reports, a personal account manager, and three percent in additional returns. It is only available for users outside the EEA or European Economic Area.
IQ Option also has a demo account that you can practice on that as 10k US dollars in virtual funds. With it, you can test any trading strategy and become familiar with the platform before trading for real.
IQ Option also has a new product called cryptocurrency multiples. It similarly functions as leveraged trade wherein an asset’s price movements are magnified by a multiplier.
There is also a product called FX Options, which is only available for the five main currency pairs. They are similar to binary options because they provide a fixed-risk investment. It is only available within the European Union.
This binary options trading platform also provides its users with various order types and stop-loss tools to maximize the earnings of binary options trades and help in minimizing loss. These include stop-loss orders, multiple orders, take-profit orders, and pre-order.
The minimum withdrawal amount is two US dollars, and bank transfers may have a minimal processing fee. To withdraw funds, you will have to verify your identity that takes up to three days.
As mentioned earlier, the minimum deposit is ten USD/GBP/EUR. There are no processing fees to deposit.
You can deposit with credit cards, wire transfer, e-wallets, but does not accept Paypal.
Since it is strictly regulated, it does not offer deposit bonuses.
This binary options trading platform does not accept traders living in Russia, the USA, Canada, Sudan, Syria, Iran, Israel. Turkey, Belgium, Japan, and France due to their strict regulations.
While IQ Option is accepted in over two-hundred thirteen countries like Argentina, Brazil, Cambodia, Egypt. Ghana, India, Philippines, United Kingdom, Zambia, and many more.
Benefits of IQ Option
- Regulated by CySec
- Free demo account with 10k US dollars virtual fund
- Minimum deposit of ten US dollars
- One-hundred sixty-nine stocks, fifty forex pairs, twenty-five ETFs, twenty-seven cryptocurrencies, five commodities, and forty-nine binary options
- A specially designed proprietary platform that can be used for trading CFDs and binary options
- GBPUSD spread- five pips, EURUSD spread- fourteen pips, EURGBP- fifteen pips
- On few cryptocurrency trades, there are 2.9 percent will be charged, which does not apply to any other assets
- 24/7 support service through live chat, email, or phone
- Technical indicators, charting tools, mobile trading, etc.
3. Pocket Option
Pocket Option is one of the best foreign exchange and binary options trading platforms that traders can use. For beginners and experts alike, can access more than one-hundred various assets from its available platforms like MetaTrader 5, its mobile app, and a web-based platform.
The easiest one to trade-in is the web-based platform. With it, you can get a good view of the assets. On the whole, it is a user-friendly and uncomplicated binary options trading platform.
Pocket Option is owned and managed by Gembell Limited, which is based in the Marshall Islands. It holds an address in Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro.
It is regulated by IFMRRC or the International Finance Market Relations Regulation Center and has registration number 86967.
While the IFMRRC is not the same regulating entity that a country has (like ASIC in Australia or CySec in Cyprus), it is an independent regulating body the watches over online brokerage sites. To get a certificate from them, you have to accomplish various criteria.
While trading in binary options involves high risk, many people prefer to use Pocket Option since it is one of the most dependable brokerage sites in the industry.
Pocket Option came into existence in 2017 and steadily made a name of itself as one of the most trustworthy and reliable binary options trading platforms there is. And based on research, its popularity is still rising.
With Pocket Option, you can trade with binary options and get a high ROI or return of investment that can reach up to ninety-five percent. And the best thing is, there are a lot of special features, which makes it all the more unique.
For beginners, they will feel comfortable with its clear and simplified user interphase. Also, there are tutorials and introduction videos on the site that can help further.
The Pocket Option binary options trading platform only offers one trade type. However, this one is the fastest method to garner an excellent payout.
It enables trading to be uncomplicated with the high/low options, which is the most direct among all the trading types of binary options. All you need to do is create for yourself a time limit. This way, you can foretell if the asset price will be lower or higher than it was before setting the time.
Traders that want to make money immediately should trade in high/low options, which makes for an almost immediate payout.
High/low options can assist in developing your trading technique with short time limits.
This binary options trading platform is known in the binary options industry to have high payout rates. The lowest a Pocket Option trader can get is fifty percent, and the average is much higher.
With Pocket Option, you can receive between eighty and one hundred percent payouts from favorable high/low predictions.
A statement put forward by the website says that a trader can receive payouts up to two-hundred-eighteen percent, which seems unbelievable. However, some other more successful binary options brokers only declare about two hundred percent for their maximum payout.
Generally, high/low trading does provide high payouts than other types of binary options. Whenever a trader engages in sixty-second trades can increase the account balance, at the same time introducing the trader to the Pocket Option platform.
But anyone should be careful in dealing with high/low options. Since trading with it unsuccessfully too many times can make you lose money fast.
Last 2020, the Pocket Option site added the MetaTrader 5 platform for its users, which can be especially useful in trading with cryptocurrencies, forex, metals, and commodities. It has become popular and offered by about eighty percent of brokers in the industry.
This platform is especially useful for automated trading and technical analysis. You can customize the charts and include tools for analyzing further.
You can either download the MetaTrader 5 software, or you can go to the Pocket Option site and use directly the web version.
Once you open a Pocket Option live account, you will be given a fifty percent deposit bonus on your beginning trade. The more you can deposit, the higher the bonus will become.
However, there is a catch. You are not able to withdraw the bonus before you begin to trade. Some investors might think that they can get the bonus along with the first investment only by signing up. Pocket Option requires its users to engage in trading first. After you get to a satisfactory level, it is the time you can withdraw the bonus.
There is also a demo account that you can practice if you are still hesitant about trading for real. There are 10k US dollars virtual money you can use for practice trading.
This binary options trading platform also has PC and mobile versions. It is available to download for iOS and Android versions. It has all the same features as the web-based version.
You can trade in one-hundred-thirty assets, and covered in five categories: indices, foreign exchange, stocks, commodities, and cryptocurrencies.
Pocket Option is especially effective in the binary options industry since its inclusion of trading in popular cryptocurrencies like Ethereum and Bitcoin.
Depositing and withdrawing funds has been made simple and easy on the website. Once you have registered, verified your payment type, and given a valid ID, you can begin trading with a minimum of fifty US dollars deposit.
You can use various payment methods for deposits, like debit or credit cards, cryptocurrencies, or digital wallets.
The minimum withdrawal amount is ten US dollars. There are no deposit or withdrawal fees included.
This binary options trading platform has many special features that make your trading experience better. Once you have a live account, you will have access to those features.
One such feature is social trading, which is helpful for novice traders. It will allow you to view the trading habits of other more experienced traders. This way, you can learn from them and adapt to yours.
Another feature is called Pocket Option Tournaments, which enables competition between traders to get prizes.
Once you have become accomplished in those tournaments, you will be given perks like a payout percentage bonus, trading funds, etc.
They are also indicators and signals, which tell you when the market turns or when the prices become higher or lower. They will keep you informed of when you can get the most benefits from a particular trade.
Pocket Option has a 24/7 customer support service. You will see its contact details like the email, address, and phone number on the contact page.
This binary options trading platform has an active social media presence and can be found by traders on Twitter, Instagram, and Facebook. There is also a live chat on the website if you want to ask questions.
Benefits of Pocket Option
- Regulated by IFMRRC
- There is a demo account that has 10k US dollars in virtual funds
- Fifty US dollars minimum deposit
- More than one-hundred thirty assets that include forex, indices, stocks, commodities, cryptocurrencies
- Web-version, download version, mobile apps, telegram bots, MetaTrader 5
- No spreads and commission
- Has 24/7 customer service, has live chat option, with contact number: 1 (800) 982-1251, with email: [email protected]
- Social trading, tournaments, achievements, indicators, and signals