10 Best Binary Options Brokers for 2024
Editorial Note:
While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.
Traders need to make the right choice of a binary broker without relying merely on their experience in the Forex market, as this will raise the efficiency and convenience of trading. You do not need to collect information on various brokers and their trading conditions anymore. We have done this for you below. Our listing order is based on real feedback from traders, as well as numerous additional factors.
The affirmative incorporation of new technologies into a broker’s operations, the local and global stability of the company, and the trade growth of the brokerage company also influence the popularity of the broker and its position on the ratings list. The information on the ratings list is regularly updated. Traders can instantly access the current position of brokers in the Forex market.
Best Binary Options Brokers for 2024 (United States)
deposit:
62% of retail investor accounts lose money when trading CFDs with this provider.
deposit:
Your location is United States
We’ve selected Top Binary Options Brokers providing services in your country. If you would like to learn about the best binary brokers in a different region, please use the “Find my broker” service.
Best Binary Trading Platforms for 2024 (United States)
Experts at the Traders Union regularly analyze existing binary brokers, evaluate their activities against more than 120 unique evaluation criteria and methodologies that are applied equally to every company on the list. Comprehensive and objective comparisons make it possible to create the most objective ratings list of brokers offering binary options.
| Ranking position | Logo | Trading Firm | Minimum Deposit | Next Step |
|---|---|---|---|---|
|
1
|
|
|
Minimum Deposit:
$5
|
Open an account
Your capital is at risk.
|
|
2
|
|
|
Minimum Deposit:
$250
|
|
|
3
|
|
|
Minimum Deposit:
$5
|
Open an account
Your capital is at risk.
|
|
4
|
|
|
Minimum Deposit:
$5
|
Open an account
Your capital is at risk.
|
|
5
|
|
|
Minimum Deposit:
$5
|
Open an account
Your capital is at risk.
62% of retail investor accounts lose money when trading CFDs with this provider. |
|
6
|
|
|
Minimum Deposit:
$10
|
Open an account
Your capital is at risk.
|
|
7
|
|
|
Minimum Deposit:
$20
|
Open an account
Your capital is at risk.
|
|
8
|
|
|
Minimum Deposit:
$10
|
Open an account
Your capital is at risk.
|
|
9
|
|
|
Minimum Deposit:
$10
|
Open an account
Your capital is at risk.
|
|
10
|
|
|
Minimum Deposit:
$10
|
Open an account
Your capital is at risk.
You should never invest money that you cannot afford to lose. |
|
11
|
|
|
Minimum Deposit:
$50
|
Open an account
Your capital is at risk.
|
|
12
|
|
|
Minimum Deposit:
$10
|
Open an account
Your capital is at risk.
|
|
13
|
|
|
Minimum Deposit:
$250
|
Open an account
Your capital is at risk.
|
|
14
|
|
|
Minimum Deposit:
$250
|
Open an account
Your capital is at risk.
|
|
15
|
|
|
Minimum Deposit:
$250
|
Open an account
Your capital is at risk.
|
|
16
|
|
|
Minimum Deposit:
$250
|
Open an account
Your capital is at risk.
|
|
17
|
|
|
Minimum Deposit:
$250
|
Open an account
Your capital is at risk.
|
|
18
|
|
|
Minimum Deposit:
$50
|
Open an account
Your capital is at risk.
|
|
19
|
|
|
Minimum Deposit:
$10
|
|
|
20
|
|
|
Minimum Deposit:
$10
|
Compare and Contrast Two Binary Brokers in the Ratings List
Traders often find several binary companies in the ratings list that best suit their trading goals. In such a situation, to choose the best binary broker, you need to focus on the following criteria:
-
"Age" of a binary broker.
In our opinion, companies founded only 1-2 years ago are not yet reliable. They don't have enough experience to deal with crises. They have not proven themselves in the market and are not as sensitive to their own reputation as are veteran brokers.
-
Regulation.
A binary broker can operate without a license, but you should not choose such a broker, because it does not report to any governing authority and may well turn out to be a scammer or a financial pyramid. It is recommended to choose a broker with a level 1-4 license from an authorized regulator.
-
Offices and representative offices
If a binary broker is registered in the British Virgin Islands and has an office there, this is a reason to give it serious consideration. The best binary options brokers, who have been successfully offering their services for a long time will have an extensive network of representative offices.
-
Trading conditions.
Each binary broker has its own trading and non-trading commissions. Some use only a couple of dozen assets, others have several hundred assets. The combination of all these parameters determines how comfortable it is to work with a given broker and whether it is right for you.
-
The quality of customer service.
The best binary companies carefully monitor their technical support because the quality and level of service reflects their approach to work and guarantees customer assistance when needed. It is not recommended to choose a broker with slow, incompetent, or non-responsive customer service.
-
Customer reviews and feedback are very important.
However, you should take into account only reviews posted at independent sites such as Traders Union because some brokers write their own reviews on their platforms, so such reviews cannot be deemed trustworthy. Try visiting unrelated and objective sites for more reliable data.
-
Position in the Traders Union rating.
Many people correctly believe that this criterion is key because experts at the Traders Union evaluate the best binary brokers according to all the above parameters and several dozen other elements. By doing so, we commit to providing you with the most objective and comprehensive ratings of brokers.
Opinion of TU Expert
Contributor
For those starting in the binary options trading arena, Traders Union's insights into the top brokers are invaluable. Binary options trading offers a unique opportunity for traders to profit from price movements in various asset classes with minimal capital outlay and time commitment. However, the key to success lies in choosing a reliable broker that provides the right platform and tools to help you maximize your returns.
As a beginner, it's crucial to start with a broker that caters to novices, offering a user-friendly platform and educational resources. Pocket Option, QUOTEX, and IQcent are highlighted as top choices for their ease of use and supportive features. Before diving into live trading, practice with a demo account to familiarize yourself with the market dynamics and test your strategies without risking real money.
Remember, binary options trading can be profitable, but it requires knowledge, strategy, and a cautious approach due to its inherent risks. Choose your broker wisely, educate yourself continuously, and trade responsibly.
Methodology Used to Create the Binary Rating by Traders Union
The Traders Union experts' approach to the analysis of binary brokers is unique because our specialists evaluate not only nominal indicators such as the age of the company and its trading conditions, but we also include a selection of the reviews about brokers that we have collected over 10 years. Also, hundreds of thousands of our member-traders regularly trade with various brokers and provide us with the statistics of their trades. Besides, they are constantly chatting on the forums, giving experts first-hand information. Our methodology is a universal analytical matrix that takes into account various aspects of a binary broker's work. That allows us to achieve the highest level of objectivity when evaluating companies.
Table with the categories of criteria for evaluating binary brokers
| Criteria category name | Elements in each criterion |
|---|---|
| Financial | 40 |
| Reliability | 31 |
| Security | 27 |
| Trading conditions | 18 |
| Customer service | 10 |
Find out more about the unique broker assessment methodology developed by Traders Union specialists.
Latest Customer Reviews of Binary Options Brokers
I love keeping my Forex positions open overnight when trading on Deriv MT5. But I ensure I calculate the margin required for this position before I open. Calculating this margin is easier with the Deriv margin calculator which requires you to enter you account type, what you are trading, volume, asset price, and leverage. The margin is calculated in the Quote currency of the pairs am trading. So you must calculate the trade margin if you love keeping positions open overnight or into margin trading. Effective risk management depends on knowing how much margin you need for each trade, which can be determined by calculating the required margin for your positions. With this information, you can calculate the right size position for your account balance and risk tolerance. By using a margin calculator, traders can make well-informed decisions and effectively manage their risk. Leverage, volume lot, and the balance in your Deriv MT5 account are some of the variables that affect the results.
Thank you, Binarium, for your professional support! Your team is always ready to help and answer any questions, which is truly valuable. Your attention to detail and promptness make working with you easy and enjoyable. I appreciate the high level of service and assistance in any situation. Keep up the great work!
I have read a lot of articles online about how trading bots could help traders like me to learn how to secure money from the Forex market. I am curious about this so I tried the Pocket Option. After clicking the trading tab, the platform showed a long list of trading bots I can choose from. From there, I selected the Telegram bot as I was too scared to download the unofficial one. This will require you to download the Telegram app first. There are a lot of functions you can explore like making a deposit, checking your balance, and personalizing the signal bot settings. I prefer using my phone as I can check and monitor the signal anywhere 24/7. You could also change the trade type to live or demo. One great feature was the option to switch between live and demo trading. Overall, Pocket Option's trading bot checked a lot of boxes for me - easy to use, versatile, and accessible on the go.
I have been doing trding with Quotex for a while and it has been a good experience. I mainly trade EUR/USD and EUR/GBP and Quotex charts are very reliable. They are compatible with other platforms like MetaTrader 4, so I know I can trust the data. I like Quotex for its directness. No weird errors or surprise fees. Everything is transparent, which is a relief. I tried other brokers that seemed natural, but Quotex was solid. One useful thing is a demo account. I can test new strategies without risking real money, which helps me learn and improve my business. Customer support is pretty good too. I had a few questions when I started and they were quick to answer. Overall, Quotex seems like a legit platform. It's stable, safe, and doesn't do anything shady. If you are interested in trading or thinking about starting one, I definitely recommend taking a look..
I had some difficulties with the interface, but after contacting Binarium support everything quickly became clear. Thanks for the quick response!
As a binary options trader.. what you want...a quick deposits and withdrawals and fast and friendly support system..in this case pocket option is really great..
Probably the best trading platform out there, saying this because I've used alot,the user interface is just superb couple with the simplicity, it's just too good,try it out you won't regret
I've been using Quotex for a while now and I'm comfortable with the platform. It's user-friendly and intuitive, which makes the registration process easy. The variety of assets available for trading is exciting, and trading operations have been smooth. I highly recommend it to anyone looking for a reliable app. Deposits and withdrawals are fast and trouble-free, which reassures me that I can easily deposit funds and withdraw profits quickly.
I am a sailor from Bangladesh and started using ExpertOption recently. This app is really handy. The interface is easy to use. Even with bad internet on the sea, it works fine. Other apps I tried were lagging, but not this one. I am making good money, even more than my main job sometimes. There is a strategy that helps me earn well and consistently. I like how it's stable and lets me trade without trouble. Overall, great trading app.
Deriv has different trading bots likeDeriv Bot and Binary Bot. You can also open a demo account to test these bots. The Deriv bot which i use often is easy to configure since it does not require any technical setup. While many traders would prefer bots because of the ease of trading, i think those to use this bots must be experienced in trading to some extent. This is is because they require optimization and it is you that set the risk management strategy they follow, so if you are a new trader, you may want to stay away from bots until you understand trading to a great extent.
-
How to choose a binary broker from the Top 3?
All the leaders on the ratings list are the best brokers for the current month based on a comprehensive comparison. However, each has its own commissions, number of assets, type of trading terminal, etc. You should compare them carefully and decide which one will be best for you, based on your personal goals and needs.
-
Where to read reviews about binary brokers?
Each binary broker on our ratings list has a personal page containing its profile. You can study the information about this company on their respective pages, including its latest reviews. You can also write your own review there.
-
How to open an account with a binary broker through Traders Union?
To do this, you first need to register at the Traders Union website. After that, at the website of your chosen broker click on the link for the Traders Union website. After you create your account with your broker, enter its number in your personal account at the Traders Union website in the Accounts section. Done!
-
Why register with a broker through Traders Union?
Traders Union provides its members with financial bonuses: for example, it returns a part of the spread and arranges contests between novice traders on virtual accounts with real prizes.
-
What is a binary broker?
A binary broker is an officially registered company that specializes in providing traders with the ability to trade in collated options, such as currency pairs, commodities, stocks, or indices. A binary broker offers a trader an electronic trading terminal, quotes, additional options, and charges a commission on successful transactions.
