With Binary Options trading gaining recognition, the competition has heated up with more and more traders and brokers entering the market on an everyday basis. It is tough for new traders to choose the best binary options broker for their trading requirements. Go through a review of some of the top binary options brokers in the financial industry.
For the uninitiated, Binary Options is a type of online trading that allows a person to make an investment in the options market without requiring a big cash outlay. A Binary Option actually refers to a contract that provides an individual with a nominal right to purchase a particular asset at the end of a fixed time period. The owner of the contract actually waits for the item to gain value at the end of the contract period. He or she is not actually interested in buying the item, which can be stocks, commodities, indices or currencies. Trading in Binary options is easier than normal trading. It needs small investment and can yield very high returns within a short period.
This type of trading is also known as Digital Possibilities. Binary Options are also referred to as Two-way Options or Digital Options.
Brokers who handle this type of trading are referred to as Binary Options Brokers. They offer high yielding returns, which can be provided with standard trading options, to traders with low capital. They provide traders with platforms, or software apps that are necessary for conducting trades online. They also make the duration of investment shorter and provide traders with many other advantages.
Binary Options Brokers are also referred to as Binary Options Dealers.
If you are serious about conducting binary options trading online, it is important for you to enlist the services of a good Binary Options broker. Here is a review of the quality and services of some of the most reputed binary options brokers in the industry.
This broker firm was established in early-2010 and has its headquarters in Cyprus. The firm offers services to both professionals and newcomers, unlike many other companies.
The firm offers a free Demo account to traders which let them begin binary options trading easily and without putting money at risk. For actual trade, users can deposit money with PayPal, wire transfer, credit card and various other methods like E Wallet, MoneyBookers and cashU. Withdrawal by E Wallet, credit cards and PayPal are free. However, wire withdrawals involve a sizeable charge of $25.
The broker offers a fairly secure platform that uses the protection of the Security Sockets Layer system. It is very easy to use and extremely user-friendly which works great for new traders. There is support for various languages like English, French, Arabic, Italian, German and Spanish.
It allows traders to choose from 81 assets which involve:
iOptions provides traders with three expiry times – 15 minutes, 1 hour and 1 day, which is good enough for beginners. However, experienced traders are not provided with too many options. Although new clients are reportedly offered attractive bonuses, there is no mention about the same in the official iOptions website.
The company offers an excellent support quality to its users. You can contact its support staff by phone, fax, email or live chat. There are over ten customer support numbers that you can call in case of an emergency.
Headquartered in Anguilla, this binary options broker firm is completely web-based. It was established in 2010. The company allows its users to trade in stocks, commodities, indices and Forex. It offers three types of trade options –
This is more than what is offered by other broker firms. It gives the opportunity to conduct trade with 24 assets. The trading platform is fairly easy to use and supports up to 9 languages. Reportedly, it is set to come with more language support in the near future.
The broker also allows payment through various methods, such as wire transfer, credit card, cashU and UKash. While trading options do not involve any fees or commissions, withdrawal fees are extremely high, around $30 for transfer via credit card, electronic wire or wire transfer.
The expiry times are 1 hour, 1 day and 1 week. This is not good enough for traders, especially the ones who are more advanced.
With 24option, you get a great support and quick-fix to every possible problem that you may encounter while trading. There are phone, email, fax and live chat options to help you contact its support staff. An attraction of 24option is its bonuses, which include complimentary iPads and cash deposit bonuses.
Established in 2011, this Cyprus-based company allows trading in stocks, commodities, currencies and indices. A relatively new entrant in the market, it offers up to 91% profits in binary trading. This is one of the biggest payouts in the industry.
The company offers an easy-to-use trading platform. It currently supports three languages – English, Russian and French. It supports three kinds of trading in binary options:
The binary platform of this firm allows one-touch trading or trading with the touch of a single button.
The firm offers deposit by a variety of payment methods, such as Wire Transfer, Visa, Western Union, Master Card, PayPal, MoneyGram and WebMoney.
It is not clear how much amount of bonus it exactly offers as it tends to differ from one trader to another.
The firm offers an innovative feature known as “Close Now.” As the name suggests, it lets traders sell an option before expiry of the duration. Traders can close or exit an option prior to expiry time to ensure minimum losses and maximum profit.
Presently, Option Range is not providing multiple customer support options. As of now, only email support is available. The broker is reportedly planning to add more support services through toll free phone numbers and live chat.
This broker company was launched in June 2010 and is based in Cyprus. It allows individuals to trade in 31 assets, which include
The firm offers an excellent, feature-rich platform which is popular among traders around the world due to its support for as many as 12 languages. These include:
Where duration of options is concerned, Option 10 offers expiry times that are as low as 5 minutes, 15 minutes and 1 hour. This is a poor choice for beginners as well as pros in the market. Should your binary option expire, you can be assured of a monetary return as high as 85%.
The broker allows you to make deposits to your trading account through various methods like Western Union, Credit Card, Debit Card, PayPal and wire transfer. The withdrawal fees are low and there is no fee or commission involved with binary options trading via Option 10.
The company offers bonuses on deposit which tend to vary at times. The bonus amounts are said to be one of the best in the market. The broker also offers various attractive features, such as Roll Over, Take Profit and Extend. It also provides traders with free eCourses and tools provided by this broker to know more about Binary Options trading.
You can avail multiple customer support options in the form of phone, email and live chat.
Founded in July 2010, this firm has its headquarters in Moscow. It is entirely web based. It offers binary options trading on 66 underlying assets that cover the markets of USA, Europe, Asia and Middle Eastern countries. The assets include
It offers a high enough 75% monetary return in case of a binary option expiry. The trading platform offered by this broker offers a few user-friendly features but can be a little difficult to handle for beginners. The fact that it supports only English makes it tougher to use for trade. However, the platform is completely web-based and can be used from any computer.
You can use credit card, wire transfer, Western Union, Money Bookers and Ukash to make deposits into your account. Although binary trading does not involve any charge, you have to pay withdrawal fees. Credit cards do not require paying withdrawal charges. However, withdrawal via wire transfer includes payment of $25.
As far as expiry times are concerned, the only durations available are 15 minutes and 1 day. The choice is really too limited for advanced traders.
The bonus amounts are pretty average and tend to vary with the type of traders. The customer support, although decent, is only available for 5 days a week. Support is provided over phone, email or live chat.
TraderXp was established in 2009 and is based in Cyprus. One of the most popular binary trading options broker, it has offices in various parts of the globe. The broker offers 53 trading assets in total, which involve:
The firm offers 75% returns if the binary option expires in the money and 10% if it expires out of the money. The platform offered by the broker is user-friendly and supports 6 languages:
This is a platform for serious traders and comprises of rich features. The inclusion of Yahoo feed helps traders receive latest news about the binary options market.
Although there are no costs involved with actual trading, withdrawal involves payment of fees. Withdrawal by cashU costs $10, $10 for check, and $25 for bank wire.
The company offers one of the best bonus rates in the market to all its traders. These involve motivators like free iPad and attractive bonuses upon deposit. You can pay the deposit amount through various options like credit card, cashU, PayPal, wire transfer and Western Union.
The quality of TraderXp client support is of the highest standards. The only glitch in an otherwise perfect service is the fact that it is only available for 5 days a week.
Based in Cyprus, this broker company was established in 2008. It offers as many as 60 assets to members. These include:
The trading platform offered by this broker is 100% web-based and very simple to use. It supports as many seven languages, such as:
However, the firm offers poor expiry times with the choice being limited to 1 hour and 1 day.
If your binary options expire, you can get a high 95% monetary return. If the option expires out of money, you can be assured of a 10% payout.
The broker also offers attractive bonus rates. For ex, for $500, you can get a bonus worth $100. This is one of the best loyalty offers in the market and is particularly motivating for newcomers. You can use various options like credit card, check, wire transfer and Money Bookers to make a deposit to your account. Although withdrawal by credit card is free of charge, you need to pay $20 for withdrawal by check and $30 for withdrawal by wire transfer. Trading does not involve any payment of fees.
The broker also offers a top-quality customer service through various modes, such as phone, live chat and email.
The abovementioned companies are some of the most reputed binary options broker firms, as reviewed and rated by various user forums and websites. A successful career in binary options trading requires you to enlist the services of a top-quality broker firm. A good broker can provide you with necessary guidance and tools to make it big in binary options trading. Naturally, it is important for you to analyze all your trading requirements and choose the right broker who can handle your needs.