Can I Trade Binary Options On My Mobile – FAQ

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Broker 2020!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

What are Binary Options? – Honest Review

Binary Options is a financial instrument to trade on long or short markets in a certain period of time. The Trader only got 2 options: Win a high amount of money (75% – 95%) or lose the investment amount for this trade. It is like betting on rising or falling markets. Binary Options are very flexible. It is possible to trade any financial market and use different time horizons (starting from 30 seconds).

  • Call (Higher): Make a forecast for rising markets
  • Put (Lower): Make a forecast for falling markets

Make a forecast for the future price direction

In this article, I will show you exactly what are Binary Options and how do they work. Knowledge is the key to success. Read about the risk and the opportunities to make money in the following text.

Where to trade Binary Options in 2020?

In the next steps, I will show you how Binary Options (Wikipedia article) work. You will understand it in a few moments. But first of all, where to trade Binary Options?

You will need a Binary Options Broker (see the table below). I searched after the safest companies which give the highest return for traders. There are different companies around the world who provide this financial service. You can open a free demo account. This is an account with virtual money so you can learn how to trade without risk.

First steps:

  • You need a company (broker) which provides the financial service (Binary Options)
  • Open a free demo account with virtual money (Virtual trading without risk)

Best Platform
Highest Yield
Best Support

Broker: Review: Regulation: Yield: Advantages: Open Account:
1. IQ Option (5 / 5)
Read Review
CySEC (EU) 100%+
2. Olymp Trade (4.8 / 5)
Read Review IFC 92%+

Huge diversity
High Yield 92%
Bonus Program 3. Expert Option (4.8 / 5)
Read Review VFSC, FMRRC 90%+

Good Platform
Account Types
Good Education

Is Binary Options Trading safe or not?

Safety is the most important point in online investing. You should choose a good and reliable broker which is safe. I recommend using a regulated company for your investments. Have a look on my full Binary Options Broker Review to find the best one. There are regulated and unregulated companies for trading. It always depends on the broker to trade safely Binary Options.

I did a lot of research and clearly, I can say that a regulated broker does not cheat to its clients. Normally unregulated brokers do not cheat too. But it is not 100% safe because sometimes these are small and unknown companies.

It is safer to trade with a regulated broker than with an unregulated one.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Broker 2020!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

In conclusion, you should use a regulated broker for trade Binary Options safely. It always depends on the Broker if it is safe or not. Do the research by yourself and read my review about the broker on this website.

Example of regulation or license

Safe and well-known regulators are:

What you really need to know about online platforms:

There is a huge diversity of Binary Options Platforms and you have to check out what is your personal favorite. Nowadays developed software is very flexible and available for any device. It is possible to trade with the computer (browser and desktop), smartphone and tablet. That means you can trade from everywhere around the world if you got access to the internet.

Especially for a beginner sometimes it is hard to learn to trade with a new platform. There are a bunch of options which can confuse you. Most brokers will give you education material like video tutorials or step to step guides. Also, you can ask the support for help by phone, chat or email.

A platform for any device

Flexibility and charting are provided by the platform. You can do a personal chart analysis with indicators, technical tools, and different chart types. Sometimes you will get access to economic news directly in the platform. Indicators are known for giving you feedback on the market price at the moment. They are customizable like you want. So it is possible to analyze different timeframes.

Mobile Trading:

Today Mobile Trading is one of the most important factors for trade successfully. It is a great opportunity to boost your profit. In the past traders could not trade online or via mobile phone. So the options were much lower for making a profit. Apps are available for Android and iOS users or any other device. Check out your trading account 24 hours per day via your mobile phone.

Computer Trading:

In my opinion, it is better to use the web-based platform with your computer for analysis. Often there are a lot more functions than in the app. Furthermore, you can see the chart more detailed and a higher range of it. Professional analysis can be made by using a computer.

Binary Trading Tutorial | Step by Step Guide

As a trader, you can choose between a lot of different assets on a Binary Options Platform. You can trade Forex, Stocks, Commodities, Cryptocurrencies and more. This trading tutorial will show you how it exactly works to trade the financial product. The process is always the same as you see in the video and picture below. Just practice it in a free Demo Account.

Learn how to trade successfully

Now you have to imagine and predict the asset price direction for the future (forecast):

You can use the specially programmed trading platform of a Binary Options broker to analyze the charts and get trading ideas. It is very important to have a good working strategy for maximum profit. Beginners should use technical analysis for trading the chart. On the broker platform, you can learn more about it in different education videos/centers.

Therefore every Binary Option expires after a specified time. You can use the time horizon between 30 seconds or 5 months or more. Sometimes it depends on the broker. As you see you can trade short-term or longterm Binary Options.

After you have decided on the direction and the expiry time for your trade you can “sign” the contract with your broker. Just click the call or the put button. On some platforms, you have to confirm the trade.

  • Call (Higher): The price will go up in your expiration time
  • Put (Lower): The price will go down in your expiration time

If you are right in your decision, the broker will pay you a high asset profit of 75-95%. The trade automatically closes after the expiry time. Sometimes the broker allows you to close the trade before the expiry time ends. That is a way to reduce the impact of a wrong decision.

That means if you invest the amount of 100$, you can earn the amount of 195$ on a certain time horizon. 100$ is the return of your investment and 95$ is the profit.

Binary Options Platform Tutorial for beginners

  1. Search for an asset with a high profit. If you trade the assets with the highest yields in conclusion from my experience the result will be much better in the end. Some Binary Brokers offer you different account types with different asset profit.
  2. Analyze the chart on the platform. You can choose different time frames, indicators or financial news for your strategy. Every Binary Broker offers you some educations, too. Learn in webinars, videos or coaching the best strategies of the world.
  3. Now you should select the expiration time of your Binary Option. There a lot of possibilities for your trade. Some traders like it to trade short-term options and some other traders like it to trade longterm options.
  4. Choose an amount you want to invest in your trade. The most time it starts at 1$.
  5. At latest trade the Binary Option with a call or put. There are only 2 options in the market, that’s why it is called “binary”. In the end, you earn a high yield or you lose your selected amount.

What are the conditions Binary Options Trading?

You can trade any asset with Binary Options. It can be stocks, commodities, forex or cryptocurrencies! Most brokers give the option to trade more than 100 different assets. The expiration time depends on your broker. Some companies provide Binary Options with a time horizon of 30 seconds or less. These days you get a lot of different options on every broker.

Conditions:

  • Trade stocks, forex, commodities, cryptocurrencies, and more markets
  • Choose between a diversity of time horizons (short-term – longterm)

Yield – The return of investment can be high as 95%+

As the time horizons, the yield (return of investment and profit) depends on the broker. Often there is a possibility to get a high payout of more than 90% of your investment but there is no rule for the value of the yields. Sometimes short-term trades got the highest payout and sometimes long-term trades got the highest payout. In comparison to my experience, the yield is between 70% and 95% for standard accounts.

Another way to boost the yield is to get a VIP account type. Most of the brokers offer different account types, which are linked to the deposit amount. For example, you will get a VIP account if you deposit more than 3000$ on IQ Option. Not every broker got the offer of account types but you should search for it if you plan to invest a high amount of money.

Are Binary Options risky or not?

Binary Options are risky to trade, but there are advantages why the risk is less than trading other financial products. Especially new traders fear the loss of a high amount of money. With binary trading, you can only lose your bet amount. Traders clearly see what they can lose in a trade. Compared to other trading instruments this is a big advantage because the risk is limited always.

Another advantage is that you get a high asset payoff no matter how much the market moves. The asset price just has to be above or under the entry point. Traders like this financial product because it is so easy to understand and to calculate the risk and the trade profit.

Only invest the money which you can afford to lose in the worst case.

Binary Options Demo Account – Yes or no?

It is very important for beginners and new traders to practice the Binary Options Trading. Most brokers give you a free demo account. It is an account with free virtual money. You can always recharge the account with one click. It is risk-free trading.

Every trader should learn more about the trading platform before he is going to invest real money. Also, you can learn new strategies or try out different methods on the market. First, develop your own strategy with virtual money.

Most brokers offer a free demo account.

Opening your first real account

For trading with real money, you have to fulfill different criteria. On most brokers, you can trade and deposit without verification of your account. In my opinion, every trader should verify his account before deposit money. This can prevent annoying errors and waiting times. For a full verification, you need to complete the account setup.

Sign in with your real personal data. That includes full name, birthday, real address, email, and your phone number. After that, sometimes you have to upload the required documents for the broker. The company checks if you are a real person. Upload a picture/copy of your Passport. Sometimes they require a utility bill too. In most cases, the verification only takes 24 hours or less. With some companies, you do not need this verification process.

How much money do I need for Binary Options Trading?

You can start trading with a very low amount of money. Especially on IQ Option, you can open a live account with a 10$ deposit. The minimum trade amount is 1$. The upper limit is open for your trades. Have a look at my reviews to find a broker which fulfill your requirements

From my experiences as a trader, it is possible to make a huge amount of money with the right strategy. Binary Options are the tool for trading with a small or big amount of money.

Facts about the deposit:

  • Start with only 10$ in your account
  • Trade with 1$ per trade
  • You can easily trade with high amounts too
  • The minimum deposit depends on the Binary Options Broker

Easy deposit and withdrawal

As mentioned before the deposit is easy as the withdrawal of profits. On most brokers, there are not any fees for deposit and withdrawal money. For payments, you can use more than 20 different methods. It is possible to capitalize on the trading account in a few seconds. In most cases the payout takes the time of 24 hours depends on your broker.

Payment methods are depending on the broker:

  • Bankwire
  • Credit Cards (Master/VISA)
  • Cryptocurrencies
  • E-Wallets: Skrill, Neteller, FasaPay, ePayments, Yandex, and more

Get a free Bonus for your deposit

The most brokers offer a free bonus for your deposit or risk-free trades. The bonus amount depends on the deposit amount. It can be a 20%,30%,50% or 100% bonus. In other words, they give you a higher bonus for a higher deposit. Furthermore, some brokers allow trading risk-free trades. If you lose a trade, the broker pays back the lost money in the form of a bonus.

The bonus is not completely free. Sometimes traders have to trade a high turnover of the bonus. For example, make a turnover of 30x of the bonus to get the bonus withdrawn. If you are not satisfied with the conditions in most cases you can deactivate the bonus. A bonus is a good opportunity to grow a bigger account and trade with more money.

Get a free bonus now

Can you really make money with trading Binary Options?

The key to your success is to get a good education and find a professional strategy. In addition, you have to control the risk with sensible money management. In this article, I showed you an insight into profitable trading with Binary Options.

It is easy to make money with Binary Options but you have to be prepared. The markets are not easy to trade for beginners and it takes time to trade profitably. You will not see success directly. From my experience educated traders do not blow up the account. They earn money constantly. Read through my other pages to get deeper knowledge.

  • Education: This is the most important point for beginners. You should be prepared for the markets and know how the financial product works. There are different tutorials on the broker webpage or on my website to learn the functions. In addition, it should be easy for you to use the trading platform of your broker. Just practice in the demo account until you feel comfortable. Moreover, most brokers offer deeper knowledge. There are webinars, coachings, and tutorials. Education and knowledge is the key to making money with Binary Options.
  • Strategy: Develop or learn a professional strategy for trading. You have to know what you are doing in the market. It is like a system for you which always have to repeat. Without a proper strategy, you will blow up your account. There are different ways to learn a strategy. Use the knowledge of a broker or my website.
  • Money Management: most traders fail to control the risk. In my opinion, money management should be sensitive by using 0,5 – 3% of the account balance per trade. Sometime a losing streak will occur. By using sensitive money management you can trade without emotions and you can trade enough trades without running out of money.

In conclusion, you can really make money with trading Binary Options but you have to learn and invest your time in the right knowledge. The demo account is the best way to practice before you start investing real money.

Are Binary Options legit or not? – My scam review

In my opinion, Binary Options are not a scam for your money. The financial product gives you the possibility to invest in short or longterm opportunities in the market. Binary Options are so popular because they are so easy to understand and you can make a lot of money in a short time.

It is very important to choose a good broker. Some small brokers are scamming users, that’s why a lot of people think Binary Options are a scam. Definitely, it is not a scam if you trade with a safe company.

Basic trading checklist for beginners:

  • Choose an asset you want
  • Forecast the price movement
  • Choose a variable expiry time of the trade
  • Bet an amount starting 1$
  • Trade a call (long) or a put (short) option
  • Get profit
  • Payout the profit

On this site, I have shown you how the financial product is working. I think you can easily understand it now and start trading with more security. On my other sites, you can learn more about Binary Options. Happy trading.

How to avoid scams as beginner

The problem of Binary Options is that they are not a scam, but some brokers or financial educators are scammers. Every time before you start investing real money you should do a sort of research. You should pay attention to real reviews or advice from professional traders.

Binary options Trading

Binary options is a relatively new and promising derivative, the advantages of which include the fixed risk and higher payouts. This type of trading is available for everyone, you do not need to be a professional in Economics or Finance in order to make a profit.

All you need is to invest in an asset (e.g. Forex currency pair, stock, index or commodity) and wait for its expiry time. It Is simple and everyone is able to make a profit.

BENEFITS OF BINARY OPTIONS TRADING

Top 5 Benefits of Trading Binary Options:

Quick income The trades expiry time is ranging from 30 seconds (short time trade) to one year (long time trade). This means that you can make up to 90% from your original investment in just a few seconds. There is no other financial instruments which can offer you such a profit! No experience is required No matter what you do in your day to day life; doctors, lawyers, managers, office workers, bank employees and even taxi drivers are able to make a profit by trading Binary Options. Minimal investment In order for you to start trading, you will need to make a first deposit of $250, lowest investment amount is $5 per trade. For comparison, some stocks in the stock market are worth more than $100. Accordingly, in order to obtain significant profits you need to invest from $1,000 and more! Fixed risks With binary options you can not lose more than you have invested. If you invest $5 in an asset, the maximum lose you will have with a wrong forecast will be $5. These are truly unique conditions. In Forex, with a wrong forecast and without proper fund management, a trader can lose all of his investment. No spreads Forex traders often lose their money due to the growing spread (the difference between the purchase price and sale price) of a particular asset. In binary options you are able to trade currency pairs without the spread. Estimation of profit on binary options

Why are more and more traders interested in trading binary options?

The trades can significantly make a change to your investment portfolio. Binary options are traded on Forex currency pairs, stocks, indices and commodities. You can always find an interesting asset to profit from. Another reason for it’s popularity are the up-to-date platforms, which are user friendly and easy to learn. The trading platforms have numerous features, which include not only the possibility of opening trades, but the basic analytical tools as well as other useful features.

Binary options can be used for insuring your risks in other markets. The idea of using these trades as a hedging instruments appeared a very long time ago. A great variety of strategies are available nowadays.

Clarity (Transparency) is also a key feature of the binary options. Trading Binary Options is free of commissions or hidden costs even if the trade is a long time trade that expires in 6 months. The lack of the spread has found a response among the Forex traders who have been able to evaluate the obvious advantages of binary options.

Binary options are the best “cure” for the economic and financial crises. During the recent decades, the negative trends have increasingly affected the world’s economy. With the advent of binary options it became much easier for ordinary traders to overcome the crises and their consequences. Whatever economic forecasts may be, whatever turmoils may have affected the financial markets, with binary options you are not to lose out in the maelstrom of events, but to make the right capital investments.

First reason why binary options are popular is for its simplicity. Binary options only have a few parameters to choose from; choice of direction, underlying asset, expiration time and investment amount. After you choose those the only thing you have to do is wait for the trades expiry time.

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Mobile Applications for Binary Options Trading: User’s Test

The following post is a paid advertisement. The content was provided by the advertiser.

High earnings cannot guarantee wealth. It is not enough to earn money — one also needs to know how to preserve and multiply it. While lots of people know how to earn, investments seem to be a more challenging task. To this day, people are still ready to invest in pyramids, which promise profits above 100%. Then the pyramids collapse, while their gullible clients are left with nothing but the desperate question “What should I do now?”

Pyramids, Warren Buffett, and Binary Options

The answer is quite simple: it is best to control the invested funds on your own. We cannot read minds of the pyramid founders to learn when exactly they decide to empty the accounts and run away to Dubai with all your money. But correct prediction of stock or currency exchange quotations is a feasible task for everyone. Really, you don’t have to be Michael Bloomberg or Warren Buffett to do this.

However, many beginner investors are sure that financial mechanisms are too complicated. They believe the quotation changes can be predicted only by experienced traders or people with lots of free time required to study the market opportunities. Those who don’t belong to these expert groups are advised to use trust management services.

Binary options, which emerged in 2008, disproved these popular beliefs thanks to their simplicity. All that the investor has to do is to predict the direction of movement of the chosen asset price over a given period, and make a stake. If the prediction is correct, the amount invested is easily increased by +92%. It often takes mere moments to get the profits – the life cycle of an option starts at 30 seconds. If the prediction is incorrect, the money at stake is lost. But the losses can be easily calculated and to limit them one should never trade more than, say, 1% of the total funds available.

Given the huge number of strategies, market indicators and other hints, binary options became an accessible capital multiplication tools for beginner traders.

Whom Should I Choose?

The high demand for binary options entailed plentiful offer; over the recent years, a number of brokers launched their own trading platforms.

I got interested in trading applications for mobile devices, because they fit best with the fast pace of modern life. To have time for investments while keeping working on a regular job, spending time with friends and family, and growing as a person, one needs to spend every minute effectively. Indeed, the long hours wasted while standing in lines or traffic jams can be invested into increasing personal capital.

All you need for this is a simple, quick, and convenient platform with minimum bets, provided by a reliable broker. The broker’s reliability can be confirmed with European certificates (no certificate — no guarantees of withdrawal). In this article I’ll show you all the rest.

I have tested 4 popular mobile apps for binary options trading (24Option, AnyOption, Banc De Binary, and IQ Option), and now will share the results of that experiment with you.

2 Smartphones, 3 Days, 4 Apps. Attention, Experiment!

Everyone should be able to invest — even those who are not computer savvies and have no time to master interfaces. Therefore simple and intuitive app navigation is the number one parameter.

1. Friendly Interface

The two main buttons, Call and Put, are available in any application. But the first thing you have to do before placing a bet is to choose the asset you want to trade (e.g., a currency pair or shares) and expiration time of the option. This is where some subtle details are hidden.

Let us give an example with Banc De Binary app.

You cannot choose an asset and switch to the desired type of the option in one screen.

First you should choose the option type from the “Product” menu (for instance, the 60 seconds ones). Then, having followed this menu item, you can choose the asset. And only having chosen the asset and followed to the third window, you’ll be able to place your bet.

Are you tired of the options and want to switch to the binaries? You’ll have to repeat the whole procedure from the very beginning.

It is highly desirable to be able to choose these parameters without switching to other sections. Otherwise every time you’ll have to wait for the system to reload data.

Sure, trader apps should constantly update their data. But slow trading process is far from enjoyable.

One more considerable drawback of the interface is lack of assets sorting. The more time you spend to find the asset you need, the less chances you have to enter a profitable deal. 3–5 seconds of delay is enough for the price of the asset to change — and you won’t get your profit.

Here is how lack of sorting can look like (this example is taken from 24option mobile app):

You’ll probably agree that it’s no pleasure to make your way through a chaotic list of currency pairs, stocks, and indices, just to find the asset you need. Keep in mind that the number of assets can be well above 100, and you’ll see how poor interface can easily ruin all the broker’s good intentions and efforts to provide you with a rich choice of investment tools.

Banc De Binary is leading in the number of assets offered (190) among all the systems reviewed.

IQ Option is an app free from those two drawbacks. All the necessary options are available in one screen, while the 70+ available assets are sorted by their type.

Beside each asset its profitability percentage is displayed. This will help you get a quick idea of how much you can earn on a given asset.

The asset that is currently the most profitable is displayed as a separate notification at the bottom of the screen (the inscription with the fire image). This information is constantly updated.

However, interface is not the main thing you need for successful trading.

2. Opportunities for Successful Trading

To make correct predictions, amateur traders need the experts’ hints. Brokers send the important news by email/Skype, or directly to the app, by means of push notifications. There are also trading signals, e.g. the EUR/USD currency pair is now in an uptrend, which means Call options can be bought with a high probability to win. The mobile apps reviewed don’t feature trading signals, but the push notifications with news are available (24Option).

However, the developers of IQ Option app promise to implement signals soon. Indeed, signals are already available in the web version of their system.

In the future, the trader will be able to turn on those messages in the IQ Option application menu. At the moment the “Hot signals” switch doesn’t influence anything.

Technical analysis savvies will probably say that hints can be useless and that it’s much more important to be able to use indicators and draw one’s own overlays on the chart (the lines, and others). IQ Option is the only one among the apps reviewed that offers these special features for experienced traders [1] .

The screenshot shows Bollinger bands, one of the popular indicators, around the candlesticks chart.

MA and Alligator indicators can be connected, too.

By the way, IQ Option is the only app that features the candlestick chart. The chart type can be chosen in the lower left corner of the screen.

Many strategies are based on the candlestick chart. The red and the green candles enable finding figures and predicting the movements of the quotations. Some of the strategies are described in the brief trading course of the IQ Option app.

Other strategies are based not on looking for figures, but on breakouts and bounces off the lines.

You can draw these lines in addition to, say, Bollinger indicator — just to be more confident of the market trend.

For successful quotation analysis, the trader has to see the chart history. The longer the period, the better.

The maximum timeframe provided by AnyOption is 2 hours.

IQ Option and Banc De Binary offer 1 hour, while 24Option has the shortest time — 10 or 15 minutes (depending on the operating system, iOS or Android).

The Operation Speed of the Apps

Since 3G internet connection was used for testing, every app reconnected from time to time, or took longer time to process certain actions. If you are near a hotspot, or can trade from a tablet using WiMax (Yota), it’s best to benefit from such an opportunity.

3. Minimum Deposit, Bets, Insurance, and Money Withdrawals

If you are not enough, it is best to begin with minimal bets. The demo account trading is rather an opportunity to play than to get ready for winning under real conditions. When you trade for real money from the very beginning, you’re more careful and won’t risk 10% of the funds or more in the hope to win back your losses. You learn to control your emotions and the process by investing in small equal bets. This approach will keep you away from gambling fever, which makes people lose all their money in a day. Here we assume that your aim with binary options is learning to invest carefully and profitably (over time!), and not hunting for quick money.

The deposit size is important here. It is advisable not to make a deposit below $250–300. Obviously, 100 deals out of 100 cannot win, therefore it is important to have enough money in the account to be able to earn on the difference. If you are not a millionaire and are not ready to lose all your money in a moment, the minimum bet of $1 is best for learning purposes.

It is possible to bet $1 with IQ Option (the minimum deposit is $10) and with Banc De Binary (minimum deposit starting from $250). The minimum deposit with AnyOption is $200, 24Option — $250.

For those who doubt the success of the deal, IQ Option and AnyOption offer insurance to diminish risks.

AnyOption enables to insure the deal for 5–25%, while the maximum gain is 80%. Also, you can sell your option to AnyOption before it expires. The price in this case will be lower.

The bets with the possibility of buyout are placed in the Option + tab. It doesn’t feature all the assets; instead, there is a limited number of liquid ones.

With IQ Option the insurance can reach 45%, and the profits – 92%.

Now let’s discuss the main thing — how the funds are withdrawn. Some brokers charge a commission for withdrawing money from an account. For instance, with AnyOption you can withdraw money without a commission only once a month. For each additional withdrawal a commission of 1000 RUR/ $30/ €25 is charged. With 24Option the situation is even more peculiar. During withdrawal process, the system assured me that no commission will be charged (this was the first withdrawal in the month). However, it actually took back 500 RUR out of 4,000 available for withdrawal.

Also, in 2 cases out of 4 you won’t be able to withdraw money directly from the mobile app. Only the developers of IQ Option and AnyOption took care of your convenience — you won’t need to load the web version of the system for a withdrawal. And only IQ Option lets you withdraw money using more than one payment method: deposit card, bank account, and electronic wallets: Webmoney, Qiwi, YandexDengi.

To process withdrawals, the broker needs to receive a copy of your personal ID documents. As a rule, they will need passport scans, a photo of the deposit card you used to add funds to your account and in some cases a scan of a household bill to confirm your address. Having passed verification, you’ll be able to withdraw money.

Now, for dessert, I’ll describe my experience of communication with the brokers’ personnel.

4. Customer Oriented Approach

The first person you’ll be dealing with (the broker’s “face”, so to speak) is the account manager. Having introduced themselves, these managers will ask questions like “When will you be able to make your first deposit?” or “How much do you hope to earn with our platform?”

No one contacted me from IQ Option. As for Banc De Binary, they asked even about my monthly income. However, there was only one account, AnyOption, that left me with negative impressions. Their manager called me twice a day, but couldn’t reply the basic questions: who was the supplier of the quotations, how many assets they offered, etc. Having received no reply from the account manager by email, I contacted AnyOption support with these questions. They answered quickly, though rather vaguely. The only representative of their company who provided clear, concrete answers was their analyst. Having contacted him by phone for the first time, I was able to ask all the questions I wanted and get the answers immediately. However, to be able to contact the analyst or the account manager by phone in future, I’d had to follow the deposit requirements. But this will be described below.

So, you have chosen a broker and deposited a certain amount in your account. 2 things happen next: you go through the verification procedure, and then an analyst contacts you to offer training and sales guidance. The training is designed to teach the user how to use the platform and impart the basic trading knowledge.

The training type depends on the broker, from webinars (24Option, IQ Option) to individual Skype sessions (Banc De Binary). IQ Option is ready to teach only if there is a deposit of at least $300 in your account. But they are also the only ones who provide training in trading basics for beginners, which is sufficient for making the first steps. However, comprehensive training is required for profitable investments.

If you have the money — all the doors are open for you…

For those who just want to “have fun” with deposits below $300, IQ Option has an exciting gameplay with cheerful music.

If you are active in social networks, you can boast your achievements there, too.

The IQ Option surely has special approach to each customer :-)

But, jokes aside, special support (hints/signals and special conditions) is really available and depends on the deposit amount. AnyOption and IQ Option provide this support for those with at least $700 in their account, 24Option — for accounts above $2000, and Banc De Binary — for accounts above €2500. The special conditions can include, for instance, the “ deal” guarantee. If you lose because of an incorrect hint of the broker’s analyst, the amount of loss is returned to your account as a bonus.

So, What Are the Conclusions?

The only thing that’s left is to summarize our comparison. For this purpose I’ve made up a table containing all the characteristics, which I believe, are the most important. The table also includes the names of test leaders — those who deliver the best results in each of the parameters:

Key parameter Availability Test Leader
Interface convenience
Intuitive system navigation + IQ Option
Sorting assets by type and name +
Horizontal screen view +
Trader tools
Quotations history with timeframe of 1 hour + IQ Option
Adding overlays to the charts (lines and rays) +/-
Indicators (Bollinger Bands and other) +/-
Candlestick chart +
about the most highly profitable assets +
Number of assets 190 Banc De Binary
Minimum deposit $10 IQ Option
Minimum stake $1 IQ Option, Banc De Binary
Availability of insurance without additional requirements (e.g. limited choice of assets or a high deposit amount)/ % of payback Yes/Up to 45% IQ Option
Withdrawals from the app / withdrawal options Yes/To a deposit card, bank account, and wallets: Webmoney, Qiwi, YandexDengi IQ Option
Excitement of trading process (gameplay) Dynamic process, gamification, options IQ Option
Impression from communication with the broker’s personnel (account manager, consultant, online support) Competent, attentive, not annoying Banc De Binary

I sincerely hope that the information provided here is enough for you to make your own bets conclusions. Good luck!

This review was completed on April 20–23, 2020.

With wishes of successful trading,

Svetlana Vershynina (about.me/vsales).

[1] The possibility to work with indicators and draw overlay lines on the charts is available only in the iOS version.

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