Ever since the U.S. Securities and Exchange Commission finally approved trading binary option in 2008, the market was growing rapidly and many online traders participated in it. So, choosing the right platform for binary trading isn’t easy, as expected. Because there are a lot of options to choose from, that might get you confused about what you want and what you need. So upon thinking of people like you, we have prepared a list of leading 5 binary trading platforms that you should consider before you start. Look ‘em up!
- IQ Option
This platform was launched in 2012 and has become one of the best websites for binary trading in South Africa. It uses in-house software for trading which has a 95% return rate in maximum. IQOption Europe Ltd. It is regulated by CySEC and is one of the most reliable broker services. However, this platform does not accept traders from the the USA, Canada, Australia, Russia, Belgium, Israel, Iran, Sudan, Syria, and Japan.
Till this date, IQ Option proudly claims more than 25 million members thanks to the features it offers including forex trading, ETF trading, and Stocks. With this platform, all you have to do is observe – the currency, indices and commodity movement of the global market.
To make their services reachable they also have an app, making it easy for traders to keep an eye on trades even while using a smartphone. If your prediction of an outcome turns out correct then you get to keep 95% profit. The minimum investment one can make in this platform is 1$, while the minimum deposit in the premium VIP account is $3,000 and $1 for a regular account.
Binary.com started as BetonMarkets, it is a UK based licensed broker that is regulating in the British Isles, Malta, and Ireland. While, it doesn’t allow traders in the USA, Canada, Japan, Costa Rica, and Hong Kong. Basing on market operations and company ownership, Binary.com is one of the most transparent companies out there.
Traders can analysis CFDs, Global currencies, stocks, indices, etc. through its MT5 platform. What’s more, the platform is simple enough for novice traders and affluent enough for the experienced ones. Along with visual tools, i.e. charts and technical indicators it also features comprehensive binary options tutorials. The e-wallet requires a minimum deposit of $10 or $5. For smartphone users, the platform offers an app that is just as rich as the website and supports as many as 12 languages.
- Olymp Trade
This website was launched in 2014 and mainly operates in Cyprus. Moreover, they have over 20,000 traders in a day – and this website is loved by traders who’re comparing to others, inexperienced and on the beginner level. Because with the insightful educational resources it allows – one can upgrade to pro in no time. It allows the minimum deposit of $10 while a minimum investment of $1. They also guarantee a 92% profit for your sake.
This platform also supports an app for smartphone users – they have originated a demo account service that allows traders to collect experience before really getting into the game. You’ll get to choose from 60 plus assets to trade in this platform with help from seasoned VIP members with trading signals. Olymp Trade is one of the best binary trading platforms.
eToro is a binary options broker that was found in 2006, and the trades are mostly based in Tel Aviv, Israel. Instead of a broker, it is more of a social trading network. From its community, you can learn from the leading traders and apply their strategies. Just like if anyone decides to copy your trading, you get an additional point. So, as it is apparent, on this website instead of investing in currencies, you invest in people.
Instead of learning financial charts and indicators this website requires you to be intuitive about other traders’ behaviors and strategies while analyzing their pattern. To sharpen your skill, you can watch and learn from the 16 lectures and video courses that eToro provides on identifying consistent traders and not just one-shot deals. Not to mention you can also get a list of best traders on currencies, indices and commodities basing on a wide range of commodities. By the time you are confident about your insights on trading, you can enroll in the Popular Investor Program and become a trading authority. Its network uses in house platform with android and iPhone apps. The minimum deposit on this platform is $200 and the maximum return can vary.
ExpertOption is a trading platform that covers a great number of countries, over 150 countries – unlike other options. This global trading platform started its journey in 2013 and has ever since approximately 9 million registered traders. Yet traders from, USA, Canada, European Economic Countries, Japan, Switzerland, New Zealand, North Korea, Puerto Rico, Australia, and Sudan are not allowed to participate. This website is enriched with more than 100 options to trade with. Using the demo trading account you can test your knowledge before going live, it supports both web and app trading platforms.
They offer 5 types of trading accounts – Basic, Silver, Gold, Platinum and Exclusive. Depending on the type of account the minimum deposit and maximum return vary. To get an Exclusive account you’ll have to own a Platinum account first and then contact your account manager, since Exclusive accounts are invite-only. This website was awarded in the China Trading Expo in Shenzhen. They offer $10000 to try with, in the demo account, you can also trade with friends with the social trading service.
Conclusion: If you’ve had the time to go through the entire article, we’re sure that you now have an idea of what you are looking for and what offers those best. The above-mentioned websites fall into the category of best binary trading platforms available to this date. Look for the ones with license and positive feedbacks, limitations of minimum deposit and maximum return, demo accounts are a great plus. Since not every package is suitable for all types of traders, study them before investing. Open a demo account in your preferred platform and when you’re confident enough with your skills, start using them to trade for real. There is nothing more important than observing and analyzing data for successful trading.