Choosing the Right Binary Broker
When thinking about trading binary options and investing in different stocks, currencies, indices and commodities, traders are provided with several crucial elements which are explained in our binary broker reviews listed on this page. We have reviewed all of the listed binary brokers and therefore, we present them to traders in form of popular trading features, trade options and payment methods which differ from one broker to another one. Also, it would be wise for traders to be well-informed prior to binary trading and never to neglect terms & conditions.
As the most important segments of the binary trading process, we have listed following:
- Regulatory status – reviewed brokers who are regulated by certain authorities have listed their regulation license number
- Special trading features – it combines a variety of features and tools, including mobile application, opportunity to practice on demo account, various tools for lowering risk level exposure etc
- Trading platform – it can be own proprietary software, developed by a broker (IQ Option) or one of the popular software providers on the binary market (SpotOption, TechFinancials, PandaTS, Tradologic…)
- Deposit and withdrawal methods – we pay attention into providing detailed list of deposit and withdrawal methods per each broker as well as lowest amount to withdraw and expected time frame
- List of underlying assets – assets grouped into 4 major categories: currencies, stocks, commodities, and indices
- Availability of customer support – a valuable segment of brokers’ platform where traders can reach for help if they have any questions, such as how to register etc. Customer support service can be available via live chat, email or any other way, depending on a broker.
Why to read Binary Brokers Reviews?
As this isn’t a simple task since the selection of broker to trade with is considered as the initial step where it all begins. Once traders register on a particular platform, they have on disposal plenty of trading instruments and features, as well as account types etc.
Binary Option Robot website enables traders around the world to see our full list of reviewed binary brokers, with broker reviews alongside. Traders are welcomed to read the reviews first and get a better overview of what a particular broker has to offer and can traders benefit from trading binary options.
For years now, there are several of well-established binary brokers, such as IQ Option, 24option, AnyOption etc. Each one of these brands offers a different approach to trading binaries, either in form of used software, possible returns or deposit amounts or available special features.
Combining trading tools such as demo account, different trading accounts and simplicity of the platform itself, provides registered traders a scope of valuable information. They should serve as a basis on which they can afterward try out different trading patterns and possibilities to increase chances of achieving better trading results. Check out the list of top binary brokers.
Comparison of Binary Brokers
In binary trading industry, comparison of different binary brokers is essential for traders to find out which one is the most suitable one. It basically means how each broker offers own special criteria to interested traders, all the way from the software selection to ultimate features and support service availability.
Therefore, we on BinaryOptionRobot.com decided to present traders with a comprehensive explanation of brokers among which traders can be able to detect which binary broker suits their needs the most. Some traders prefer less risky trades and they’ll most probably select a broker who offers demo account as an alternative to practice trading with no risk involved.
Binary Options Reviews – Regulated vs Unregulated Brokers
During research of the binary market, traders can see how brokers are divided into two main categories: regulated vs. unregulated brokers. It cannot be claimed that regulated brokers are better for sure than unregulated ones, however, traders should be aware how regulated brokers are registered with particular regulatory authorities which are responsible for a certain country (for example the USA, Australia or Europe).
Regulated binary brokers are obligated to follow strict rules imposed by these authorities and always be up to date with info regarding new regulation guidelines. From our experience of evaluating binary brokers, it doesn’t mean how unregulated brokers are a scam and will mislead traders in any way. What we believe that the main principle should be is the quality of trading services and providing traders a transparent platform on which they don’t have to worry if they’ll be scammed during withdrawals or if their personal data will be shared with the third party.
Binary Options Regulation in Europe and USA
As we have noted, there are several of regulatory bodies which operate in particular markets or countries. In Europe, traders can see how UK, France, and Italy have three well-known authorities which pay attention to binary options industry and its present brokers. In France, that is AMF, in the UK there is FSA, where CONSOB is a regulatory authority which controls binary trading in Italy.
Long term traders in the binary industry will most likely recognize CySEC as a regulatory authority, located in Cyprus. The majority of regulated binary brokers who operate on European market obtain CySEC license and are registered in Cyprus due to CySEC rules and guidelines.
US citizens are, however, under the regulation of CFTC, body which regulates entirely US market with its own set of rules, different than those valid in Europe. CFTC allows trading only to those brokers who are licensed in the USA, such as Nadex. Read full Nadex review.
Trading Platforms and its Characteristics
Although to some traders it might seem as all brokers are the same, in most cases, they’re not. That can especially be the case in terms of trading software that each a operates on. In binary industry, there are a couple of well-recognized software providers, such as SpotOption, TechFinancials, Tradologic, PandaTS etc.
However, it is important to note how a lot of brokers decide to develop their own software, such as IQ Option or AnyOption broker. With its own software, their goal is to deliver a custom-made platform, which can contain slightly different tools and features for traders when they navigate over the platform. As a desirable element traders can note an user-friendly interface, which can contribute to a more successful overview of the platform, where traders are able to find needed tools and type of information right away.
Through many brokers we had the opportunity to review, we noticed how they provide 4 main categories to invest in currencies, stocks, commodities, and indices. Depending on a particular trading platform, some of them offer dozens of assets available, while other like IQ Option broker enable traders to have on disposal a wide range of more than 500 underlying assets.
Some of the most popular assets to trade with are EUR/USD, USD/JPY, CHF/JPY, EUR/GBP, Twitter, Microsoft, Apple, Facebook, Yahoo, Nike, Nasdaq, Dow Jones, gold etc.
Trading instruments such as Double Up and Rollover are few of recognized tools that can serve traders to reduce risk level where possible in terms of delaying expiry times or to double the trade if traders are convinced in a successful asset price outcome.
However, one of the additional features is worth mentioning and that is a mobile app. With activated mobile trading, it is possible to have access to mobile platforms and experience more simple approach to the dashboard and available tools. Also, traders are able to continue trading from anywhere, without the necessity to be in front of their desktop monitors.
Binary Options – How to Deposit and Withdraw Funds?
Deposit and withdrawal procedure is an important factor for all traders who plan to trade binary options and want to be sure they are doing so in a right way and with a broker who offers them transparent way of depositing and withdrawing money.
It is our duty to inform traders about educating themselves to be aware of crucial steps in binary options trading and available payment methods to choose from. What the can see is that binary industry enables a wide scope of deposit methods, such as the option to make payments via:
- Debit cards
- Credit cards
- Bank wire transfer
- E-wallet providers
What we discovered in binary broker reviews is that majority of them offers an interesting list of payment options, from which traders can choose preferred one. Usually, once they choose a specific deposit method, it has to remain the same as during withdrawal procedure.
Some of the most popular debit and credit cards available are Maestro, Visa Electron, Mastercard, Visa, American Express, Dankort, JCB…. However, the exact list of payment methods varies from broker to broker. Usually, wire transfers are the slowest way of making payments, where expected time doesn’t depend only on a broker but also on a bank which can take a certain period of time (a couple of days).
As the represented methods of depositing and withdrawing, traders can decide whether to try out alternative payment option: e-wallets. The binary market comes out as a fruitful soil for numerous e-wallet providers, such as Skrill, Neteller, Yandex.Money, QIWI, iDeal, WebMoney, PaySafe Card and much more.
Also, what differs binary brokers is also related to withdrawal time period, which depends on a specific trading platform. Brokers initially require from traders to authorize their trading account by providing personal data, such as a copy of ID card, proof of residence and copy of credit card if one will be used. These data should be incorporated into withdrawal request which will then be reviewed by a broker and in several days (depending on chosen account type) funds will arrive on traders’ account.
Binary Brokers with Lowest Deposit
Choosing a broker according to minimum deposit amount is one of the first criteria traders need to choose prior to signing up with a broker. While the majority of an offer deposit amounts of $250 which are industry average, there are a couple of popular broker brands who offer very low deposit amounts, such as IQ Option ($10), Binary.com ($5), 365trading ($5) or HighLow ($50).
These brokers might come as a good alternative for traders who don’t want to invest huge amounts of money right away, and the presence of such brokers enables them to experience binary options trading by depositing much lower amounts.
In terms of possible returns, they do differ in the binary industry. Prior to investing online in binary options, traders should create a trading plan and stick to it, whereas they could list assets to invest in, trade option (short term or long term), potential money gain and expected time frame.
Power of Demo Accounts in Binary Options Trading
The presence of demo account is definitely considered as one of the binary advantages, which allows traders to practice trading and try different trading styles in a risk-free environment. This is, however, possible due to the fact that traders on demo account have on disposal virtual money, provided by the broker, instead of actual money which in this case eliminates any potential negative aspects.
In recent years, plenty binary options brokers recognized the importance of demo account and decided to implement this option on their platform. IQ Option is a broker well-known by its demo account and provided $1000 of virtual funds for practice how to trade binaries before making any real deposits.
Reviewed and popular brokers, such as 24option, BullBinary, Binary.com, and 365trading are just a few of them who enable traders worldwide to experience benefits of binary demo account. On the demo, the experience can build up a confidence so that later on they can simply switch to real trading account and initiate binary trading journey.
Don’t Neglect Customer Support
Having accessible customer support service is one of the key points for traders who want to trade binary options. Also, it is in brokers’ best interest to have satisfied traders and by offering them quality support agents, it can afterward assist traders in achieving their goals on selected trading platforms.
From our experience in brokers’ platforms and written reviews, we are certain how the support is an inevitable part of a potential successful binary trading journey. Plenty brokers offer different ways how to enable traders across the globe to get in touch with a particular broker.
The majority of binary brokers listed on BinaryOptionRobot.com site provide customer support via email, contact form, phone or live chat, where in some occasions, traders can even contact broker via Skype. By contacting a broker at the initial stage, traders can get a more detailed overview of the platform as well as available features and tools. For example, questions regarding how to register, make a deposit and from where to begin are all types of queries on which a good support agent should have an answer. If brokers do provide quality customer support and traders are satisfied with provided information and personal approach, it is more likely they’ll continue to trade with a specific broker.
Binary Options Brokers – Conclusion
After evaluating all segments of a trading platform, we can say how there are sufficient binary brokers, who are present for years on the market and who had success maintaining a positive reputation in the industry.
By combining security measures, the simplicity of trading platform, a selection of tools and features, binary brokers can risky contribute to traders’ overall delight in terms of trading binary options. Popular broker brands, such as IQ Option, HighLow or 24option realize the importance of having numerous features and responsive support service that might enable traders worldwide to experience binary success.