Best Binary Options Brokers and Trading Platforms (2023)

In this guide, we reviewed the best binary option brokers to help you decide which trading platform is right for you. We’ve analyzed over 21 different binary brokers on a variety of factors including payouts, trading platforms, deposit methods, features, regulations, and company reputation.

It’s important to understand that not all binary options trading platforms are created equal. Some binary options sites might have great payouts, while others might have faster withdrawals or bigger deposit bonuses. Picking a trading broker often comes down to what’s most important to you.

Below you will find our rankings of the top binary options trading brokers of 2023.

Top 8 Best Binary Options Brokers of 2023

1) Pocket Option – Best For USA Traders
2) BinaryCent – Best For Copy Trading
3) RaceOption – Best Bonuses
4) IQ Option – Best Trading Platform
5) Binary.com – Best For Beginners
6) ExpertOption – Best For Social Trading
7) Olymp Trade – Best For Traders From India
8) Binomo – Best For Trading Tournaments

Binary Options Brokers of 2023

1st Pick

Pocket Option Best Binary Options Brokers
Pocket Option

If you’re looking for an excellent trading platform with instant withdrawals, social trading, and a generous 50% deposit bonus, PocketOption is a great option to consider. PocketOption is one of the only brokers that accept clients from the USA and European countries.

  • Maximum Profit: 96%
  • Min. Deposit: $50
  • Min. Trade: $1
  • Assets: 100+ Crypto, Commodities, Stocks, and Currency Pairs
  • Platform: Web, Android, iOS, and Windows
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2nd Pick

BinaryCent Best Binary Options Brokers
BinaryCent

BinaryCent is a binary broker that allows you to trade Forex, CFD, and Options for as little as $0.10 per trade. Featuring 95% payouts, deposit bonuses up to 100%, and non-stop weekend trading, BinaryCent is a great option for beginners.

  • Minimum Deposit: $250
  • Minimum Trade: $0.10
  • Assets: CFDs, Forex, and Options
  • USA Friendly: Yes
  • Assets: Commodities, Crypto, Forex, Indices, Stocks
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3rd Pick

RaceOption Best Binary Options Brokers
RaceOption

RaceOption is a trading platform that is perfect for beginners. 1-hour withdrawals, 20-100% deposit bonuses, and copy trading are a few of the features we love most.

  • Minimum Deposit: $250
  • Payouts: 90% Max
  • Bonus: 20-100% Deposit Match
  • USA Friendly: Yes
  • Assets: CFDs, Forex, Indices, Stocks, Commodities
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4th Pick

IQ Option Best Binary Options Brokers
IQ Option

IQ Option is a regulated broker with more than 250 instruments to trade, including CFDs on currency pairs, stocks, commodities, cryptocurrencies, ETFs, and Binary and Digital Options. IQ Option is great for intermediate to advanced traders looking for a robust platform.

  • Minimum Deposit: $10
  • Max Payout: 95%
  • Min. Trade: $1
  • Assets: Over 250+ Currency Pairs, Stocks, Crypto, Commodities, ETFs
  • Demo Account: Yes
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5th Pick

ExpertOption Best Binary Options Brokers
ExpertOption

ExpertOption is a trusted broker with over 100 assets, including stocks, commodities, crypto, and forex. The ExpertOption is the best option for mobile trading, with an intuitive platform available for Windows, MacOS, Android, and iOS.

  • Min. Deposit: $10
  • Min. Trade: $1
  • Max Profit: 95%
  • Assets: Stocks, Commodities, Crypto, and Forex
  • Demo Account: Yes
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6th Pick

Olymp Trade Best Binary Options Brokers
Olymp Trade

This broker has various educational resources available to their clients, including trading strategies, webinars, and more.

  • Minimum Deposit: $10
  • Minimum Trade: $1
  • Max Payout: 92%
  • Assets: ETFs, Stocks, Commodities, Indices, Currencies, Cryptocurrency
  • Demo Account: Yes
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7th Pick

Binary.com

Although Binary.com is a perfect choice for beginners, their advanced platforms have enough features to satisfy even the most advanced traders.

  • Minimum Deposit: $5
  • Minimum Trade: $1
  • Max Payout: 85%
  • Assets: Commodities, Currency Pairs, Indices, and Synthetic Indices
  • Demo Account: Yes
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8th Pick

Binomo Best Binary Options Brokers
Binomo

Binomo is a good binary trading platform with limited assets compared to other brokers. Binomo does offer a demo with $1,000 in virtual funds if you want to give their platform a try.

  • Minimum Deposit: $10
  • Minimum Trade: $1
  • Payouts: 90% Max
  • Assets: Stocks, Commodities, Indices, and Currency Pairs
  • Demo Account: Yes
Visit Site

Review of the Top Binary Options Sites and Companies

1) Pocket Option

  • Traders From All Countries Accepted (Including US and UK)
  • Easy Deposits and Withdrawals With Over 100+ Payment Methods
  • Trade Over 100+ Financial Assets With Payouts Up To 96%
  • Social Trading – Copy Trades From The Most Successful Trader
Pocket Option Best Binary Options Brokers

Pocket Option is a binary options brokerage that provides online trading of more than 100 different underlying assets. Pocket Option is one of the only sites that accept new traders from the United States and Europe. Established in 2017, Pocket Option is based in the Marshall Islands and is licensed by the IFMRRC (International Financial Market Relations Regulation Center).

Pocket Option has great terms and conditions for its traders, including no commission on deposits and withdrawals, over 100+ payment methods, indicators and signals, social trading, bonuses, high returns, and more. Pocket Option provides bonuses of up to 100% when you open an account, which is among the best in the industry.

If you’re looking for a binary broker that caters to customers around the world, including the USA and Europe, then Pocket Option is one of the best options available.

  • Maximum Profit: 96%
  • Min. Deposit: $50
  • Min. Trade: $1
  • Assets: 100+ Crypto, Commodities, Stocks, and Currency Pairs
  • Platform: Web, Android, iOS, and Windows

2) BinaryCent

  • Guaranteed Withdrawal Processing Within 1 Hour
  • As Low As 10 Cents Per Trade
  • Leverage Up To 1:100
  • 20-100% Deposit Match Bonus
BinaryCent Best Binary Options Brokers

BinaryCent is a binary options site offering Forex trading, CFDs, and options with up to 95% payouts. BinaryCent was established in 2017 and is owned by a company called Cent Project LTD, which is a subsidiary of the Finance Group Corp. This company is located in Vanuatu and accepts international traders, including the United States, Canada, Australia, and the UK. BinaryCent is regulated by the VFSC (Vanuatu Financial Services Commission).

The biggest advantages of using BinaryCent include minimum trades of just 10 cents, leverage up to 1:100, and copy trading. Copy trading lets you follow the platform’s most successful traders and see their live trades in real time. By copying other profitable users, you can increase your chances of success.

  • Minimum Deposit: $250
  • Minimum Trade: $0.10
  • Assets: CFDs, Forex, and Options
  • USA Friendly: Yes

3) Nadex

Nadex is a United States-based binary options exchange located in Chicago, Illinois. Nadex is the only regulated broker that is licensed in the USA by the CFTC (Commodity Futures Trading Commission). Nadex offers trading platforms that allow you to take positions on short-term price movements in a variety of markets. You can choose between binary options, touch brackets, and call spread contracts. Due to regulatory rules set forth by the CFTC, the money you deposit must be held in segregated bank accounts to ensure your funds are safe and secure.

Using their proprietary software, the Nadex Trader Platform lets you place orders directly to the exchange. You can filter over 5,000 contracts daily by asset class, expiry time, and price. For binary options, Nadex charges a $1 trading fee per contract on each side of the trade, the entry and the exit.

In addition, Nadex charges a $1 settlement fee per contract for trades that expire “in the money”. However, there is no settlement fee if your binary options trade expires “outside the money”.

If you want to test-drive the Nadex platform, you can open a demo trading account with $25,000 in virtual money to practice with. For real accounts, the deposit requirement is $250 USD.

4) RaceOption

  • Trade From Any Device, Including Mac, PC, Tablet, or Smartphone
  • 100% Secured Trading With Data Protection
  • CFD Trading, One-Touch, and 60 Second Trades
  • 1 Hour Withdrawal Processing
RaceOption Best Binary Options Brokers

RaceOption is a binary options broker that is based in the UK and was established in 2014. RaceOption processes more than 10,000 trades per day and is one of the only companies that allow clients from the United States, Canada, and Australia. RaceOption has no restrictions on what country you’re located in.

The biggest selling points to RaceOption are 1-hour withdrawals, deposit bonuses up to 100%, and weekend trading. This trading platform is available in three versions: Web, Android, and iPhone. They offer CFD trading, 60 seconds, one touch, live charts, and instant execution of trades.

Overall, RaceOption is a reliable broker that offers attractive payouts of up to 90% and a variety of funding options, including credit cards and cryptocurrencies such as Ethereum and Bitcoin. This platform is best suited for beginners who are looking for a simple interface that is easy to understand.

  • Minimum Deposit: $250
  • Payouts: 90% Max
  • Bonus: 20-100% Deposit Match
  • USA Friendly: Yes

5) IQ Option

  • Binary Options Payouts As High as 95%
  • Expiry Times From 60 Seconds to The End of the Month
  • Trade CFDs on Stocks, ETFs, Indices, Crypto, and Commodities
  • Multi-Chart Layouts, Technical Analysis, Indicators, and More
IQ Option Best Binary Options Brokers

IQ Option is a broker that is based in Cyprus and regulated by the CySEC (Cyprus Securities and Exchange Commission). Since 2013, IQ Option has been one of the most successful online trading platforms, with over 43 million registered users, over 1 million trades per day, and clients from over 213 countries.

IQ Option has the best trading platform of all the brokers I’ve reviewed. They have over 250+ assets to trade, including binary options, digital options, as well as CFDs on stocks, crypto, commodities, and ETFs. Their binary options pay up to 95% on successful trades, while their digital options offer return rates up to 900%

The IQ Option platform is available on the Web or through one of their trading apps (Android, iOS, Mac, and Windows). Free demo accounts are available with $10,000 in virtual money to practice with. Their platform comes with everything you want and expect, including multi-chart layouts, financial indicators, technical analysis, and real-time alerts. They also have several risk management features, including Stop Loss, Take Profit, Negative Balance Protection, and Trailing Stop.

IQ Option should be near the top of your list if you’re looking for the best binary trading platform.

  • Minimum Deposit: $10
  • Max Payout: 95%
  • Min. Trade: $1

Note: This broker does not accept clients from the United States, Canada, the European Economic Area, Japan, Israel, Australia, and Puerto Rico.

6) ExpertOption

  • Regulated Broker With Over 30,000,000 Clients Worldwide
  • Up To 100% Welcome Bonus
  • Excellent Platform With 24/7 Trading, Even on Weekends
  • Technical Analysis Tools: 4 Chart Types and 8 Indicators
ExpertOption Best Binary Options Brokers

ExpertOption is a trusted broker that has been around since 2014, offering binary options on over 100+ assets, including stocks, cryptocurrency, forex, and commodities. ExpertOption is located in Saint Vincent and the Grenadines and is regulated by the VFSC (Vanuatu Financial Services Commission) and FMRRC (Financial Market Relations Regulation Center). This broker serves clients from over 150 countries and has over 32,000,000 registered users on their platform.

ExpertOption offers some of the best payouts on the market, with profits as high as 95%. Their platform is very easy for beginners and has some features that even advanced traders will appreciate, such as 4 different chart types, 8 indicators, and trend lines. ExpertOption also offers Social Trading, which allows you to trade binary options with your friends or follow other VIP traders and see their active trades in real time.

ExpertOption offers over 20 different payment methods, including E-Wallets, credit cards, cryptocurrency, and bank transfers. This binary broker also offers a free demo without registration. Overall, if you’re looking for great payouts and a solid trading platform, ExpertOption is an option worth considering.

  • Min. Deposit: $10
  • Min. Trade: $1
  • Max Profit: 95%

Note: This broker does not accept clients from the USA, Canada, the European Economic Area, Switzerland, Israel, New Zealand, Australia, Puerto Rico, Singapore, Bangladesh, Vanuatu, Yemen, and Sudan.

7) Olymp Trade

  • Regulated by the International Financial Commission
  • Personal Manager With One-On-One Guidance
  • Platform Available on MetaTrader 4, Web, Android, iOS
  • Quick and Easy Deposits and Withdrawals
Olymp Trade Best Binary Options Brokers

Olymp Trade is a Cyprus-based broker that is regulated by the International Financial Commission. This license ensures that traders are supported by deposit insurance, comprehensive support, and a prompt resolution of all issues. Olymp Trade has been a part of the options market since 2014 and has consistently improved its platform over the years. As of 2020, over 25,000 users are trading with Olymp Trade every day.

Like most of the top brokers, Olymp Trade has a web-based platform and apps available for iPhone and Android. They have over 75 different underlying assets that you can trade with. Demo accounts are available if you’d like to test-drive the Olymp Trade platform. This broker has a variety of educational resources available to their clients, including trading strategies, webinars, and more.

Note: Olymp Trade does not accept clients from the European Economic Area, Australia, Canada, USA, Japan, Israel, New Zealand, Russia, Spain, Sweden, and Switzerland.

8) Binary.com

  • 6 Different Trading Platforms (Beginner and Advanced)
  • Trade 24/7, Even on Weekends
  • Returns Up To 100% on Simple Rise/Fall Contracts
  • Choose Your Own Expiry and Strike Price

Binary.com is an online trading platform that offers binary options and CFD trading. Owned by a company called Binary Group LTD and founded in 1999, this broker is one of the oldest and most respected names in the binary options trading industry, with over 1 million registered users worldwide.. Binary.com has offices in Channel Islands, Malta, Saint Vincent and the Grenadines, Malaysia, British Virgin Islands, and Vanuatu. Binary.com is regulated by the Vanuatu Financial Services Commission, the British Virgin Islands Financial Services Commission, the Malta Financial Services Authority, and the Labuan Financial Services Authority.

Binary.com has several different trading platforms that you can use, including:

  • Deriv – A perfect solution for beginners with an easy-to-use platform that is rich with features.
  • SmartTrader – Trade in the world’s financial markets with a simple and user-friendly online platform.
  • Tick Trade Android App – Ultra-fast trading on the go.
  • MetaTrader 5 – An advanced multi-asset trading software that includes Forex, CFDs, and binary options.
  • Binary WebTrader – An advanced binary options trading interface to monitor the movements of your favourite markets simultaneously.
  • Binary Bot – Automate your own trading strategies with a simple “drag and drop” bot creation tool.

Binary.com has attractive return rates that can exceed 100% on simple rise/fall contracts and above 1000% on high/low and touch/no-touch trades. You can trade all major indices, commodities, currencies, and synthetic indices with expiry times ranging from 10 seconds to 365 days. Binary.com gives you the ability to sell your contract before the expiry time is reached to lock in your profit or to minimize your loss. With their simple interface, you can execute a whole trade in just a matter of seconds.

Binary.com provides a variety of payment methods to fund your account, including Visa, Mastercard, bank transfer, Skrill, Maestro, Neteller, Fasapay, QIWI, and many more. To ensure trader safety, all capital deposited goes into a segregated bank account and is held in a secure financial institution.

Although Binary.com is a perfect choice for beginners, their advanced platforms have enough features to satisfy even the most advanced traders.

Note: Binary.com does not accept customers from the USA, Canada, and Hong Kong.

9) Binomo

  • Return Rates Up To 90%
  • Category A Member of the International Financial Commission
  • Trading Tournaments With Prizes Up to $40,000
  • Gold and VIP Accounts Include the Pesonal Manager
Binomo Best Binary Options Brokers

Binomo is a binary options broker with a high-end trading platform with the ability to trade binary options, CFDs, Forex, and cryptocurrency. Binomo is based out of St. Vincent and the Grenadines and is regulated by the IFC (International Finance Commission). Since Binomo is a Category A member of the IFC, they have deposit insurance of up to $20,000 for all clients.

Binomo doesn’t offer as many assets to trade compared to other brokers. Their standard account has 14 available markets to trade with up to 85% max payouts, while their VIP level offers 42 available markets with a max payout of up to 90%. VIPs also have extra perks such as 10% weekly cashback, deposit bonuses up to 100%, 1-hour withdrawals, and a personal account manager.

Overall, Binomo is a good binary trading platform with limited assets compared to other brokers. Binomo offers a demo with $1,000 in virtual funds if you want to try their platform.

  • Minimum Deposit: $10
  • Minimum Trade: $1
  • Payouts: 90% Max
  • USA Friendly: No

10) 24Option

  • Trade CFDs and Forex
  • All Account Types Have Leverage up to 1:500
  • MetaTrader4 Supported
  • Regulated by CySEC

24Option is a broker that is based out of Cyprus and regulated by the CySEC. When 24Option was established in 2010, they were primarily just a binary options platform. However, the company has shifted its focus to offering Forex and CFDs. 24Option has a large asset index that includes currency pairs, stocks, crypto, ETFs, and indices.

Advanced traders will be happy to know that 24Option has the MetaTrader4 platform, which is very popular for its charting functionality and financial analysis tools. MT4 offers immediate order execution and accurate pricing in real time. 24Option has an extensive education library with daily market reports, fundamental analysis, webinars, eBooks, and trading guides.

24Option has 4 different account types: Basic, Gold, Platinum, and VIP. All account types get leverage up to 1:500. The basic level comes with floating spreads as low as 2.5 PIPS for EUR/USD and as low as 1.1 PIPS for VIP accounts. The platform also includes Stop Loss and Take Profit features to help minimize losses and maximize returns.

Overall, 24Option is a good broker if you’re looking for an advanced trading platform with CFD and Forex trading. This broker does not accept clients from the United States, Europe, Canada, Australia, China, Israel, Switzerland, Japan, New Zealand, Bahamas, Pakistan, or North Korea.

  • Minimum Deposit: $250
  • Minimum Trade: $24

Top Reasons To Invest In Binary Options

1) It Is Very Facile:

The operation of binary options is very simple when you have a credible broker who goes the extra mile with the platform provided to you from the start.

2) Available Education:

Most binary options brokers offer different training tools so that customers can be educated and instructed in trading binary options. Depending on the broker, you will be presented with different types of tools, such as videos, seminars, eBooks and even more sophisticated trading signals or robots to make everything much easier. Binary options robots are definitely an option you should highly consider if you don’t have enough time in your schedule to be on the lookout for everything occurring on the market. Ever since they were first introduced on the market, they have been selling like hotcakes and show no signs of slowing down. For this reason, we highly recommend looking into this option when you also find a credible broker.

3) Control:

Unlike Forex, binary options allow you to have control of everything. Beforehand, you will know how much you might win or lose. This will definitely help you decide if you should go for an investment or not. It is always better to prevent than lament at the end of the day. Don’t you think?

4) Accessibility:

Just a computer with an Internet connection is required. There is no need to download any software etc.

5) Work From home:

You can work from the comfort of your home, be your own boss, and, what is even better, save yourself some time and money. It definitely doesn’t get any better than this!

6) Availability Information:

You can access a lot of valuable information about the market, which will undoubtedly improve your operations’ quality. Through portals, newspapers, and economic sites, you can keep informed and updated on everything that happens in the market, making your operations more secure and thus attaining accurate returns. Your broker might also provide this type of information. Make sure to look into this, as every broker is not created equal.

7) No Commission:

The money you earn with binary options is yours to keep 100%. You don’t have to pay commissions or taxes. As if that was not enough, you can earn up to 80% more on your initial investment, plus most platforms offer a fixed return (generally ranging between 10% and 15%).

8) Variety:

Unlike Forex, with binary options, you will be able to choose from a huge amount of assets, including commodities, currencies, indices, and stocks.

The Importance Of Having A Broker By Your Side

Brokers are a very important piece of binary options, as they guide investors and take care of their money. One of the most popular questions on the market is whether to trust a broker or not. If you stop to think about it, a broker only makes money if you win; therefore, the broker is always trying to go the extra mile to open a path for you. Of course, some are better than others due to the experience that they carry under their belts. The ones who are scams are usually the ones who do not have a license, and thus, they cannot be considered brokers.

Is The Broker Regulated?

Before starting to trade on the market, the first thing to consider is to choose a reliable and secure broker. The first thing that you should look into when choosing a reliable broker is the regulation status of the broker. The brokers that are not regulated always generate distrust. The broker that you choose must have a license to profess a profession.

A good broker must have many methods of payment but must offer the safest and the most reliable ones in the world. A reliable broker ensures quick and easy transactions without complications. In addition, our liable broker offers is devoted to providing education and training to its customers. A broker with an exclusive training area is ideal as it can help you achieve maximum success, as you will learn the 411 about the market. It definitely doesn’t get any better than that. Once you know a lot, you will be able to help other people so that they can also strive on the market, like you.

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