In this edition of our Binary Options Guide we'll be bringing you our ten favourite binary options brokers! If you've reached this article with absolute no idea what Binary Options are then check out Daisy's Binary Options Guide: An Introduction before moving onto the Key Concepts for Beginners.
The explosion of the binary options market in recent times has resulted in hundreds, if not thousands, of broker sites offering you the supposed best bonuses, the biggest range of bets and the brightest industry minds to educate you. So how do you make the transition from novice to expert? How do you know who you can trust? We've done the research in our Top Ten Binary Options Brokers!
- How Did We Decide?
- Table of Results
- Banc De Binary
- Porter Finance
How Did We Decide?
In order to narrow the vast array of broker choices down to our ten favourite we decided to research the sites with the smallest minimum deposits, the biggest maximum bonuses, whether or not the site offered a free virtual money demo and how easy the site's trading interface was to use.
We also wanted to take a more qualitative approach when analysing these sites for their specific advantages such as the simplicity of the layout, the array of assets available and so on and so forth.
Table of Results
|Minimum Deposit (£)||Max Bonus||Free Demo||Ease of use|
Binary.com is a fantastic place to start out in the binary options betting realm because of its truly free demo account, which offers budding binary betters $10,000 of virtual money to get to grips with how the process works.
Here you can play around with forex, indices, commodities, randoms or ‘smart markets' and explore up/down, touch/no touch, in/out parameters. If that last sentence was complete gobbledygook to you then check out Daisy's article on types of trades. I found this demo particularly useful to speculate on simple higher or lower Forex bets over 60 seconds, as this showed me how the markets work in a short space of time and how easy it is to make or lose money.
Some other nice features include a minimum deposit of £25, which is far lower than most binary options brokers on the market so once you've acclimatized to the virtual currency demo you can move onto the real money markets with a small amount of capital. This is most definitely the place to start for beginners or even intermediate and advanced buyers. The interface is really paired back and that's a nice way to do business- quick and clean.
2. Banc De Binary
Banc De Binary boasts a superb educational centre which is aimed at giving you the best possible knowledge and skill-set in order to make a return on your deposit. You can take a beginner's crash course in how to use the system, develop your skills with various different information sections and move into advanced knowledge with their ‘geeks' section.
Customer service at Banc De Binary is also excellent, the livechat function does not require any registration and the response was immediate and informative. The downside to the site is perhaps the overload of information, which include various information bars and complex graphs. I found this a little overwhelming so perhaps this site is better suited to those more advanced players in the industry. The minimum deposit is £250 in the UK, which is similar to many other of the sites which made our top ten- not a bad option to go with at all.
The first thing you'll notice when joining the 24Option site is that this is a slick outfit- the site is well presented, has several high-profile affiliations and operates from London so you can feel comfortable in the knowledge that this isn't an offshore operation.
Trading on this site made me feel somewhat like an MI5 agent, the black background and blinking red/green option trackers look fantastic, as do the advanced mobile apps available on both IOS and Android OS's, although this sophistication may not make it ideal for first timers in the binary world.
OneTwoTrade offers an incredibly quick sign-up process for those ready to get trading straight away after reading our guide. A great way of complimenting your Droid Slots learning would be to check out the trading academy which offers various different means of improving your industry knowledge and trading skills. The only negative I could find for OneTwoTrade is the need to create an account to access the live chat function- I usually like to make a few inquiries before making my first deposit.
LBinary use the proven SpotOption binary options software. Their platform is 100% web based, and is compatible with all popular browsers such as Explorer, Safari, Chrome and Firefox.
Lbinary offer you an account manager to oversee your trading and profitability which is a huge advantage over some of the other sites out there and the website really is excellent, though the minimum deposit is a little on the high side of things.
TradeRush offer a quick registration and trading process and a highly competent support team who will offer assistance should you need it at any time. TradeRush also offers a great mobile experience on IOS and Android- the apps are very versatile and offer almost all the features of the web platform.
TradeRush's demo video which details how to create an account and use the trading interface is extremely useful for first timers, and with the wealth of tweakable functions on the option builder there's plenty of room for those wishing to progress to a more complex strategy.
7. Porter Finance
Porter Finance offer an excellent app for Android and IOS so you can access your account, place trades, and see the status of your open trades directly from your phone. All 200 assets can be accessed through the app so not to worry when you're speculating on the morning commute. The Spotoption platform is also optimized for mobile web use, so it will work just fine on your mobile browser too.
Short-term trading is very popular as you don't have to wait around for a week or a month to see whether or not that crucial trade might pay off- going as low as 30 seconds these trades are great fun to watch. The range of investment amounts starts from as little as £5, going all the way to £2,500 – per trade, though Porter Finance don't have the best bonus offers on the market.
AnyOption offer huge bonuses of up to £20,000 depending on how much you would like to deposit when opening your account. They also boast one of the highest payout percentages of any regulated binary options site at 86%. If you would like to make a withdrawal more than once a month however, this will cost you a small fee, though this shouldn't be an issue if your strategy is carefully planned.
uBinary makes use of the ParagonEX platform with complimenting Android and IOS apps. It does require a 64-bit browser to be fully functional, but this is because the site looks absolutely incredible and more like a video game than a trading platform, so no google chrome unfortunately.
uBinary also operates from London which, as with 24Option gives you an extra level of security when trusting a site with your deposit. Every trader who signs up is also allocated his or her own personal account manager. Your manager is always accessible should you have any questions or need guidance on any of the trading instruments, analysis or many other features offered at this broker. This is a fantastic feature but is somewhat compromised by uBinary's less-than-perfect customer service. The livechat option took a long time for someone to answer my questions about the site and in this respect uBinary is lagging behind other sites mentioned in this list.
The Redwood Options platform offers a tonne of options including commodities, currencies, indices and stocks as standardt. The SpotOption speciality of asset “Pairs” is also available wherein popular commodities or stocks are paired up to provide an asset pair similar to currency pairs. It’s not a game changing feature but definitely nice to have on board.
The Option Builder is a feature whereby traders may create and customise each element of their option. For example a trader may select this feature, select an asset, expiry time, risk/profit ratio and of course the investment amount, which differs from most platforms where you may only trade set criteria with most options.
Hopefully you'll find a broker here to suit your needs whether you're a novice or a seasoned trader. We like the variety of functions, operating platforms, mobile apps and so on offered by this list so pick your favorites and let us know your thoughts in the comment section below! If you need information always refer back to our Binary Options Guide. From here make sure you know your fundamental and technical analysis, and how to trade successfully and you're ready to enter the world of Binary Options!
Other Articles In this Guide:
- Read Now!
- An Introduction
- Key Concepts For Beginners
- What Are Assets?
- Types of Trade
- What is Fundamental Analysis?
- Setting Up A Free Demo Account
- How To Trade Successfully
- Trading Strategies
- Top Ten Broker Sites
- Industry Regulations
- PDF Download – The Complete Guide
- Presentation: Trading Binary Options — A Step-by-Step Guide