15 Popular Binary Options Brokers of 2017: Which One Is The Best?

Hedging to some may be complex and the traditional instruments are difficult to access, if not altogether beyond their reach. That’s why when the US Securities and Exchange Commission approved binary options in 2008, retail traders jumped in for the chance to engage in hedging that is at once simple and accessible to the small player.

In a nutshell, binaries are a financial instrument where traders wage an all-or-nothing return. The internet makes trading even more accessible to the random person, where exchanges are managed by binary options brokers. Unbounded by geography, binary options give the average trader access to global markets. This stew of simplicity, easy access to a large pool of instruments, not the least the lure of quick bucks, makes binary options popular in the US and elsewhere. But you, the trader, should understand the risks, rewards and issues with binary options.

In this article, we’ll walk you through the top binary options brokers. Specifically, we’ll compare the following features of each broker:

  1. Minimum deposit
  2. Maximum returns
  3. Bonuses, if any
  4. Supported trading platform

Knowing where to hedge your funds is the first step to maximizing returns or, at the least, minimizing losses. It may also pay to know some basics of the trade. For instance, Nadex, a U.S.-based regulated exchange for binary options, identified the top four traded forex pairs as:

  1. EUR and USD
  2. USD and JPY
  3. GBP and USD
  4. USD and CHF (Swiss franc)

The list indicates, more or less, where binary options are most popular. Incidentally, Nadex also pinned down the most popular time and day for binary options trading:

Source: Nadex infographic

A Word of caution

As with many internet financial transactions, binary options are prone to fraud, so play it cautiously. Many brokers are not regulated by the government (a good or bad thing, depending on your perspective); you’re left with the good graces of your choice.

A common red flag is a trading platform that overstates the average return or, worse, it manipulates price points to cause customers to lose their wager (every time customers lose, brokers win). A simple online sleuthing by reading user reviews and forums about the broker should steer you clear of fraudsters.

The challenge is to focus on legitimate brokers. For instance, the Chicago Board Options Exchange (CBOE) lists reliable binary options for US traders and runs the CBOE Volatility Index Binaries to track options movement. CBOE is SEC-regulated, which adds layers of investor protection.

Meanwhile, the nonprofit Financial Industry Regulatory Authority (FINRA) is a good resource for fraud alerts. For instance, just last March it released a warning that scammers are using these follow-up schemes targeting binary options customers.

To help you, we provide the lowdown on the top 15 popular binary options brokers of 2017 that you can consider for trading. Hopefully the list will let you find the best broker for your investment needs and expectations and start successfully trading on your own.

1. IQ Option

IQ Option was established in 2012 and it has favorable reviews on the internet. It uses in-house software for trading. Maximum returns are 91%. However, traders in the USA, Australia, Canada, Russia, Japan, Turkey, Israel, Iran, Sudan, and Syria are not accepted. This broker is reliable as its parent company InvestLab Ltd. is regulated by the CySEC.

IQ Option offers a free demo account to help you get started. Minimum deposit is just $10 for the Real Account. For the premium VIP account, the minimum deposit is $3,000. The one drawback is, customer support is offered only via email and there is no phone or live chat facility. Finally, this broker offers multiple convenient deposit and withdrawal methods to help you trade easily. For more details on this service read our binary options brokers review for this particular broker.

  • Minimum deposit: $10
  • Maximum returns: 91%
  • Bonuses: up to 100%
  • Supported trading platform: proprietary web, Android, iPhone

2. Binary.com

UK-based Binary.com is a licensed broker regulated in the British Isles, Malta, Ireland and the UK. However, US traders are not accepted. It is one of the more transparent companies in the industry that declares its owning company and market operations. Formerly the BetonMarkets, Binary.com blends gambling and trading but with transparency.  

You can start the trading time aside from the expiry date and the investment amount is based on the payout you set. The minimum deposit is $10 and for e-wallets it’s even lower, $5.

The bonuses are not standard; rather, consist of two types. The Deposit Bonus and Free Bonus. Likewise, the percentages are not specified, but you are required as much as 25 turnovers to avail yourself of a withdrawal. There’s also a 1.5% payout commission.

The platform is intuitive to the first-time trader and robust for the veteran. It features a lot of visual tools like charts and technical indicators and the tutorials on binary options are comprehensive. Likewise, it supports 12 languages and provides a virtual money account. Mobile apps are available.

  • Minimum deposit: $5
  • Maximum returns: 1,000%
  • Bonuses: not specified
  • Supported trading platform: proprietary web, Android and iPhone

3. HighLow

HighLow is based in Australia and is a regulated broker. It uses the MarketsPulse trading platform. Maximum returns are up to 90%. However, this broker does not allow US-based traders. Convenient demo account and mobile app are offered.

The minimum deposit amount and the minimum investment amount are both $10. If you like fast expiration times, HighLow is the ideal broker for you as it offers, 60 second, 90 second and 5 minute expiration times. Customer support is offered via phone and email in English and Japanese. The broker’s website is informative with a detailed FAQ section. You can go for HighLow as it has favorable online reviews.

  • Minimum deposit: $10
  • Maximum returns: 90%
  • Bonuses: $50 upon sign-up
  • Supported trading platform: MarketsPulse web, Android and iPhone

4. Marketsworld

Marketsworld is a regulated broker based in Great Britain licensed by The Isle of Mann GSC, a gambling regulatory agency in GB. It’s one of the few foreign regulated brokers where US traders are accepted. It trades in commodities and indices, but focuses more on forex and trading is fixed on a high/low digital basis.

The minimum deposit is $10 with the minimum trade size of $1. Bonuses are restricted to trading for up to 100% and don’t tie up your deposits. In fact, you can withdraw your money anytime without affecting your bonus as long as you keep to the required trading volume. Returns, meanwhile, range from 80% to 90% and withdrawals take around three days.

The trading platform is proprietary and supports English, Russian, German, Spanish and Italian and four more languages. The trading charts can be difficult for some because of their small size and delays are known to happen. Support via live chat, email and phone are available. An iOS app is also available.

  • Minimum deposit: $10
  • Maximum returns: 90%
  • Bonuses: up to $1,000 start-up bonus; up to 100% on trade
  • Supported trading platform: proprietary web, iPhone

5. eToro

Tel Aviv, Israel-based eToro is a social trading network and not a broker. It allows you to copy the leading traders in its community and, hopefully, realize the same margins. Conversely, your trading can be copied, which earns you additional income.

In this platform you invest in people, not currencies. You will have to be intuitive about other traders’ behavior and analyze their patterns or strategies, instead of learning financial charts and indicators.

No worries, eToro provides more than 16 lectures and video courses on how to hone your skills. These include identifying consistent traders, not just one-shot deals. You also get a list of the best traders on currencies, indices and commodities across a wide range of underlying assets.

On the B side, you can share your trading insights and enrol in the Popular Investor Program as a trade authority.

Minimum deposit is $200, while maximum returns varies. The network uses its in-house trading platform with Android and iPhone apps.

  • Minimum deposit: $200
  • Maximum returns: varies
  • Bonuses: not specified
  • Supported trading platform: proprietary, web, Android and iPhone

6. 24Option

24Option has been online since 2010 and is a stable and reliable broker as it is regulated by the CySEC. It uses the third-party TechFinancials trading platform. Maximum returns are up to 88%. This broker does not accept traders from the US and Australia.

The minimum deposit amount is $250 and the minimum investment amount is $24. Trade types offered are high/low, one touch and no touch, boundary, and 60 seconds. A demo account is offered for new traders. You can enroll in Standard, Gold, or Platinum account depending on the amount you deposit and the features you want. 24Option provides customer support via phone, live chat, and email in English and thirteen other languages.

  • Minimum deposit: $250
  • Maximum returns: 88%
  • Bonuses: up to 100%
  • Supported trading platform: TechFinancials web, Android and iPhone

7. ETX Capital

ETX Capital is headquartered in London, UK and regulated by the British Financial Conduct Authority (FCA). It trades in forex, equities, indices and commodities, but note that binary options are unregulated by the FCA. Likewise, US traders are not accepted as of this writing.

The broker takes pains in educating newbie traders, explaining in details binary options, risk trading and other key topics.

The minimum deposit is $100 with returns between 75% to 85%. Bonuses are not specified but are available. A call to their support should specify a personalized bonus based on your investment. Likewise, withdrawals above $100 are free of charge.

The broker uses MarketPulse for platform. It is clean and intuitive to beginners with the expiry times easy to locate. However, it only supports English.

  • Minimum deposit: $100
  • Maximum returns: 85%
  • Bonuses: varies, personalized
  • Supported trading platform: MarketPulse, web, Android and iPhone

8. 365Trading

365Trading is registered with the CySEC and based in that country. It was founded in 2012 and has since traded in EU without issues. It primarily trades in binary options. As of this writing, US traders are not accepted.

Minimum deposit is at $100 with profits and bonuses reaching 85% and 100%, respectively. You can open a demo without deposit and try their long- and short-term expiries.

The platform, an in-house system, is robust and ideal for veteran traders. It features charts, lines and candlesticks and provides historical analysis. The platform allows you to set up three assets with quick access shortcuts. Likewise, you can trade four assets simultaneously featuring a main window and three sub-windows.

Support is available via email and phone.

  • Minimum deposit: $100
  • Maximum returns: 85%
  • Bonuses: up to 100%
  • Supported trading platform: proprietary, web, Android and iPhone

9. Ayrex

Ayrex is based in the UK and has a pending application with CySEC. It trades in 70 assets and is focused on binary options. As of today, US traders are not accepted.

Minimum deposit is at $5, one of the lowest, while bonus is up to 30% and returns range between 75% to 90%.

The broker uses a proprietary trading featuring instant withdrawals, which is unique in the niche. The interface is neat and lets you quickly jump to different trades. It’s ideal for short-term trading. High/Low options are also available.

Support include 24/7 live chat and via email. Likewise, the system is accessible from Android and iPhone apps.

  • Minimum deposit: $5
  • Maximum returns: 90%
  • Bonuses: $30 no-deposit new account, up to 30% on trade
  • Supported trading platform:  proprietary, web, Android and iPhone

10. CMC Markets

UK-based CMC Markets has been in a forex broker since 1989 but only went into binary options in 2015. Still, that’s a long history of trust and reliable operations compared to most binary options brokers. On top of it, it is regulated in the UK. Today, it trades in indices, commodities, shares, treasuries and forex, but US clients are not yet accepted.

There is no minimum deposit and there are no bonuses, too. Returns also varies depending on the product.

Meantime, the platform is customizable and includes charting tools, pattern recognition functionality, various screen layouts and multiple timeframes. The system is accessible from Android and iOS devices. Support is UK-based and consists of live chat, email, phone and fax.

  • Minimum deposit: no minimum deposit
  • Maximum returns: varies
  • Bonuses: none
  • Supported trading platform: proprietary web, Android and iPhone

11. OptionFair

OptionFair is founded in 2010 and based in Cyprus. It is regulated by the CySEC and is also listed on the London Stock Exchange, a first among binary options brokers. US traders are not accepted. The broker trades in forex, CFDs and binary options on 118 underlying assets.

The minimum deposit is $100 with returns up to 100%. However, there are no indicated bonuses, but you can always contact support for possible terms. Expiry time is shorter than average, but makes for quick returns over short-term trading.

The broker uses its own platform that allows you to shift trading from forex to binary and to CFDs from a single interface. It gives you access to myriad assets and instruments and a wide range of expiries. You can, in fact, trade simultaneously forex and binaries. Mobile apps for Android and iPhone are available.

There is phone support in five international numbers including English, Spanish, Italian and French. Email and live chat support are likewise provided.

  • Minimum deposit: $100
  • Maximum returns: 100%
  • Bonuses: none
  • Supported trading platform: proprietary, web, Android and iPhone

12. BinaryTilt

BinaryTilt is an unregulated broker with headquarters in London, England but is wholly owned by Cyprus-based Depix Holdings. Although it isn’t overseen, the broker seems to have a clean record with rare warnings from authorities. US traders are not accepted. It trades in stocks, indices, forex and commodities across 150 underlying assets.

Minimum deposit is $250 with profits of up to 85%. Likewise, bonuses can reach 100%. Trading styles include high/low, one touch, range and on demand. The stocks are also mainly US or EU-based companies.

The trading platform is SpotOption, a standard but increasingly old school compared to newer platforms today. The UI is familiar and the elements are organized, good enough for first-timers to kickstart their trading without a hassle. Support is via chat, while Android and iPhone apps are available.

  • Minimum deposit: $250
  • Maximum returns: 85%
  • Bonuses: up to 100%
  • Supported trading platform: SpotOption, web, Android and iPhone

13. EmpireOption

Founded in 2010, Uruguay-based EmpireOption with a registered address in London, England. As with most brokers, US traders are not accepted. The broker trades in forex and CFDs with a diverse underlying investment portfolio.

Minimum investment is $100 and expect u to 82% maximum returns. Likewise, bonuses can reach 100% but terms apply.

The trading platform is SpotOption but minus the SpotOption payment network. EmpireOption also uses its own branding interface and maintains control of most of the trading aspects.

Phone and email support are available.

  • Minimum deposit: $100
  • Maximum returns: 82%
  • Bonuses: up to 100%
  • Supported trading platform: SpotOption, web, Android and iPhone

14. Binarymate

Binarymate is a UK-registered broker that is reliable as it follows the strict financial regulations of the UK. It accepts US traders. This broker uses a unique in-house platform for trading. You can earn a maximum return of 90%. Trading accounts start with the basic Bronze package for which the minimum deposit is $250 and you get a 20% welcome bonus. For Silver account, the minimum deposit is $1,000 and you get a 50% welcome bonus. Finally, for the premium Gold account the minimum deposit is $3,000 and you can choose between risk-free trades or a bonus of $250.

A unique customer support feature offered by Binarymate is live video chat with agents who are available 24/7. Support is offered in English, French, Spanish, and Russian. Last but not the least, you can use the demo account to learn the ropes or to improve your skills. Before you decide on a broker though it’s always best to do a binary options brokers comparison first to make sure you pick the best service.

  • Minimum deposit: $250
  • Maximum returns: 90%
  • Bonuses: up to $250, risk-free trades
  • Supported trading platform: proprietary web, Android and iPhone

15. BDSwiss

BDSwiss is a regulated broker in Cyprus with headquarters also in that country. Likewise, it is registered with the U.S. National Futures Association (unregulated), but as of now, US traders are not accepted. The broker trades in forex, indices, shares, commodities and CFD-based cryptocurrencies on over 250 underlying assets.

Minimum deposit is $200 but there’s no bonus, while traders can realize returns from 65% to 85%. Refunds are not available also. Likewise, you are charged $25 per wire transfer and fees apply for withdrawals below $100.

For platform, BDSwiss uses SpotOption that is familiar to many traders. It uses advanced charting tools and indicators to help you determine price movement. There is multilingual support via phone, email and live chat. Mobile apps for Android and iOS devices are available.

  • Minimum deposit: $200
  • Maximum returns: 85%
  • Bonuses: none
  • Supported trading platform: SpotOption, web, Android and iPhone

Your product is not on the list?

If you are a binary options provider and you didn’t find your product on our 2017 list above feel free to let us know about your service. We may consider including it on the 2018 list. You can easily let us know about your product here.

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5 Comments »

  • Don Howland says:

    Thanks for your informative post on the top binary options brokers in the business. It gives the essential details about all the brokers in a nutshell and has helped me to form a shortlist from which I can select suitable ones for my trading needs. For me, binary investing offers many attractions. First, I find it is easier to learn and use compared to stock and forex trading. Second, many brokers offer lucrative payout rates which means I can make good money while having fun at the same time. In addition, there is no need to be a financial expert to be good at binary investing. I simply follow the latest market news and trends about the assets I select and this helps me make informed predictions. Plus, the trading is flexible and allows me to control my losses and retire if I have a bad day. By the way, can you offer a few tips on which features offered by top brokers are the crucial ones?

    • Alex Hillsberg says:

      Hello Don. It is nice to learn that my article has proved useful to you. I agree with you that binary investing is a fun and exciting way to make good money. As for useful features, here is a list you can utilize for reference. Make sure the brokers you select offer these tools:

      – First, the broker should make it easy for you to sign up and get started in a few minutes.
      – They should offer a range of convenient deposit and withdrawal options that you can use from your country.
      – The trading platform should be accessible on mobile devices to enable you to trade on the go.
      – A wide range of trading assets and trade types should be available so that you can keep changing your choices to keep the excitement fresh.
      – In addition, the payout rate should be high so that you stand a good chance of winning big amounts.

      Hope it helps. Good luck!

  • Mike Walton says:

    I have thoroughly evaluated the pros and cons of binary trading and for me the pros outweigh the cons, that is why I am interested in this form of trading.

    The pros, in my opinion, are as follows: Top brokers keep introducing new innovations and features which keep the game exciting. Plus, I can access the online trading platforms from anywhere, anytime, and trade whenever I like. In addition, many governments have begun to regulate this industry which gives me peace of mind and confidence that my money will be safe. With social trading, I can share my experiences with like-minded investors and gain knowledge and expertise. In addition, binary investing is superior to gambling as I can make educated predictions with a little research.

    As for the cons, there is the risk of shady operators but you can easily tackle this challenge by doing your homework on the broker before you put in your money. In my opinion, binary investing is much better than trading in stocks or forex or gambling.

    Do you have any advice on how to trade more safely and how to select a reliable and trustworthy broker?

    • Alex Hillsberg says:

      Hi Mike, thanks for sharing your ideas on the pros and cons of binary investing. As for your question, there are a few key factors to consider to select a suitable broker with a honest reputation. First, check if their trading platform is compatible with your computer and whether all the links work. Then, see what training resources they offer. Ideally, they should provide video tutorials, articles on strategies and techniques, as well as one-on-one counseling. However, you many need to sign up for a premium plan to get personalized assistance. Another important factor is the terms and conditions for withdrawal of winnings and bonuses. If the withdrawal limit is high you might have to keep trading to reach that amount which means you might not be able to control your losses and stop if you wish to. Finally, check out their customer support channels to see if you get fast and friendly service round the clock. Good luck and happy hunting!

      • Franklin Garr says:

        Thanks for your useful tips on how to select a good broker to do business with. They are sure to benefit all potential traders out there. You can get reliable information on brokers in the binary options and other industries here. BrokerCheck gives you an overview of a broker’s licensing info, employment history, and regulatory actions as well as complaints against them. The best part is it is a free tool. The website is operated by FINRA which is authorized by the US Congress to protect the interests and money of investors. The site instantly tells you whether a broker is registered to provide trading services to investors. In short, it can help you select honest and transparent brokers, and avoid fraudulent fly-by-night operators whose plan is to swindle traders’ money.

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