Looking to earn high payouts from binary options without having to set aside a mountain of cash? Have you been burned by other brokers, and you want to make sure you don’t make the same mistake twice?
You already know that binary options have some risk, but the massive rewards make them too good to pass up. The key is finding a reputable broker that you can trust to keep your funds safe and pay you quickly. We’ve done some digging and found the best binary options brokers that have low minimum deposits and also let you deposit funds with cryptocurrency.
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The Best Brokers With Low Minimum Deposit
IQ Option is a popular favorite among binary options traders, and it’s suitable for people of all levels. With a $10 minimum deposit, an intuitive trading platform, and over 100 video tutorials, IQ Option is easy to use and boasts up to a 95% payout, which is among the highest in the binary options industry.
IQ Option also has a free mobile app for both Android and iOS, so you can trade binary options on the go. And, with trading available 7 days a week, 24 hours a day, you can trade whenever you feel like it.
IQ Option also boasts a large support team (currently 79 team members at the time of publication), 0.6-second order processing time.
If you’re just getting started with binary option trading, take advantage of their free demo account and practice some trades before you deposit real money. When you’re ready, get started with a real account for just $10. The minimum amount per trade is just $1.
Another feature that makes IQ Option at the top of the list is the wide array of assets that are available to trade. You can start with the asset class that most familiar to you and then expand as you get more comfortable. Choose from:
When you’re ready to cash in your profits, IQ Option gets you money the fastest. As of 2016, they began processing the majority of withdrawal requests immediately, with an average processing time overall of 11 hours.
Despite the name, ExpertOption is suitable for binary option traders of all levels. The $50 minimum deposit is slightly higher than other brokers, but when you choose to deposit more, you unlock additional features, including free consultations and even account management. For a $5,000 initial deposit, you’ll get one-on-one expert advice and analysis.
Like IQ Option, you can get up to 95% profit on your staked amount, and the minimum trade amount can be as small as $1. ExpertOption also has an app for iOS and Android, allowing you to trade anywhere. Unfortunately, ExpertOption does not accept U.S. Traders.
You can test-drive ExpertOption by getting started with a free demo account with $10,000 of virtual money pre-loaded. This gives you the ability to get acquainted with the binary trading platform and see how trades work in real-time. Even if you’re an expert trader on other platforms, it’s advisable to first try the demo account to get familiar with how ExpertOption works. Read our in-depth Expert Option review for more information on this broker.
Though Olymp Trade doesn’t have the scope of assets and trade types that are available on IQ Option and Expert Option, they make up for it with amazing customer support. They do continue to add new assets on a regular basis, though, so if there’s something you want to trade, keep checking back. For example, they just added the Basic Dollar Index.
Like IQ Option, you can get started with a minimum deposit as low as $10, with a minimum trade of $1. You can read our full Olymptrade review to learn more about this broker.
Olymp Trade has also shown that they’re committed to the success of their traders by offering educational tools and tutorials as well as customer support in 8 languages. Olymp Trade shows their monthly payouts, and last month, they paid their traders over $13 million.
Further, they claim that the number of payouts is increasing by 7% each month, and they attribute that growth mostly to their subscribers using their tutorials to learn more about trading. The biggest drawback to Olymp Trade is a lower profit payout – only 80%.
Binomo has a similar offering to the other binary options brokers on our list. They allow you to get started for a $10 minimum deposit, make trades as low as $1, and offer 24/7 trading opportunities. There’s also a mobile app for Android and iOS and online support for instant help.
They also offer trading tournaments, which the other brokers offer, but don’t promote as heavily. With Binomo, you can enter a variety of tournaments, ranging from free to $30. Prize funds can be up to $25k, distributed among several winners, so we encourage you to use tournaments for entertainment and educational purposes. Read our in-depth Binomo review for more information on this broker.
As the oldest binary options broker, Binary.com has a lot to offer. Their platform is one of the easiest to use and gives you the ability to choose expiry times ranging from 10 seconds to 365 days. Looking for the potential to make more than 100% returns? Binary.com offers that on some of their contracts and trades.
Another feature that sets Binary.com apart is they tell you the potential reward of a trade and also disclose the risk. Binary.com has a minimum deposit as low as $5 and a $1 minimum trade amount.
Why Choose a Broker with a Low Deposit Amount?
If you’re just getting started with binary options trading, here’s a pro tip: open an account with a low minimum deposit.
There are three reasons why low minimum deposits are the way to go.
Easier for Beginners to Start Trading
When you’re beginning to trade, either as a career or a hobby, you might not have a lot of money to trade binary options yet. The point is to grow your funds by trading, right? So, if you don’t have $5,000 lying around, that’s not a barrier if you choose a broker with a low minimum deposit. As you can see from the brokers we shared, you can get started for as low as $5.
Sign up with Multiple Brokers to See Which One You Like Most
For as little as low as $85, you can open active trading accounts with all five of the binary options brokers we mentioned in this article. You don’t have to tie up all of your funds as you test drive each broker. So, give each one a try, and then stick with the one you like most.
Any smart investor knows that risk management should always be top of mind. One of the best ways to manage risk is through portfolio diversification. Think of your binary options brokers the same way. In case one of them goes under, has a slower payout than you planned, or you don’t have luck with their asset classes, you’ll keep losses to a minimum by distributing your funds across multiple brokers.
Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.