How to choose right binary options broker

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!

How to Choose a Binary Options Broker

Choosing a right broker is critical before you start trading binary options, that’s why you need to make this decision wisely. You may become disappointed with binary options trading and with financial markets as such, just because you’ve started with a wrong broker. Thus, you’ll be missing your opportunity to become one of those millions of people making money though financial trading.

Worst of all, an unfair broker can just steal your investment or just put obstacles in your way when it comes to withdrawing your profits.

In this article, we’ll give you some simple tips on how to choose a binary options broker, so that you may make right decision.

Expert’s Tip

Select your right broker and start trading binary options with our straightforward step-by-step guide. In just 30 or 40 minutes, you’ll be ready to make money! You’ll learn how to choose right deposit and investment amount, sign up with a broker, and get return on your investment. As a bonus, you’ll get an easy to use and powerful trading strategy.

Below are the steps to select a binary options broker:

    Decide on your initial deposit amount

Determine how much you can afford to deposit based on your financial conditions or the risk management rules you’ll find below. You may want to stick to these rules from the start.Read more about Risk Management here

Select a broker that suits your needs

Select a broker from our Top 10 Binary Options Brokers list based on your deposit amount (see the Minimum Deposit column). Focus on the broker’s rating and check whether it’s regulated (should be highlighted green).

Sign up with the chosen broker

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!

Join the broker by clicking the signup link in the Top 10 Brokers table. Provide your up to date personal details, such as your first name, last name, phone number, and email address. This info is very important for account verification and, later, withdrawal of your earnings.

Make your initial deposit

Make a deposit based on your financial conditions or the Risk Management Rules. The brokers usually provide a wide range of deposit methods, so you may select your preferred one.

Accept or decline the bonus

Once you’ve made your first deposit, the broker will offer you a bonus. You can decline the bonus, but we recommend you accept it if you want to start profiting soon. The bonus will be credited directly to your account. It will help you increase your balance and invest more while you’re still learning, which is critically important.

Verify your account

After you’ve opened an account with your broker, you’ll need to verify it. To do this, you’ll need to provide the required documents, such as a scanned copy of your passport or ID card and your credit card (cover the first 12 digits of your card number, making only the four last digits visible). The account verification process is strictly followed by all brokers, so take it very serious so as to avoid any future withdrawal issues.

Complete an education course with your broker

Ask your personal account manager to provide you with tutorials and courses. Read the platform guide, watch videos, and, by all means, attend the trading webinars: this is especially handy.

Select or create a trading strategy

Select a suitable strategy for binary options trading. You can either make use of free strategies (including ours) or buy ones from experts.

Start trading on your demo account

Ask your account manager to open a demo account for you. Use it to learn how the platform works, and make some trades for test purposes. Once you’re comfortable, make 50 trades or more with the lowest investment possible based on your strategy, and then analyze the results.

Switch to live account

As soon as you understand you’re ready to trade real money, go for it (don’t forget about your risk management, though). Do not stick to demo trading too much, as you need to get used to live trading. It does feel different. So, 100 demo trades is quite enough; get patient and start earning real money. Good luck!

How to Compare Binary Option Brokers and Choose the Right One

When it comes to making money from binary options there are two vital elements that you need. These elements are your trading skills and BOB. Yes, that’s right BOB. What is it? It’s simply a way cooler term for Binary Options Broker. The trading element is very complicated since it comes with tedious practice and training. However, trading is not the focus here. In this article let’s set aside trading and assume that you have already mastered it and put the spotlight on BOB. Just remember two things with BOB – if it’s bad you’ll have lower or lesser success rates; if it’s good then you’ll have that smile on your face.

Just as trading is tricky, selecting a good binary options broker can also be a very difficult task. Comparing one broker to another can be the key towards searching for that ideal trading guide.

Here are some ways that can help you compare brokers:

1. SUPPORT AND ACCESS

Language – accessibility means that you can easily access what you need. Language is of course a vital part of trading. Yes, English may be the most popular spoken language but there are other markets out there that do not trade using the language. Thus, make sure that your BOB speaks the same language as you do.

Customer Support – Binary options has rapidly risen in popularity. More and more people want to taste it quick moves and easy profits. However, hopeful traders do not know where to start so they really need someone to guide them. Novice traders need someone to talk to and someone to teach them about the ins and outs of the trade. This is why many traders compare brokers based on the support that they give and the knowledge that they possess. Traders also compare their brokers based on Live Chat operators and Account managers. The use of customer support is to extend withdrawals and deposits or technical problems that may arise.

Platform – The reality is that you will always need a user friendly platform when it comes to trading. However, some easy to use platforms may not be too good for advanced traders. Depending on the type of trader that you are, you need to know what kind of platform you need. For example, if you require some complicated tools and special orders, you will most likely use a platform that focuses more on such aspects than convenience of use.

2. YOUR MONEY

Refund and returns – Everyone who trades obviously wants higher pay outs. Who wouldn’t need and eighty percent ITM trade rather than a sixty five percent? Refunds presented for Out of the Money trades can provide more money management technique. This way you can also compare brokers.

Promotions and Bonuses – a lot of trades like to hunt for huge bonuses and it is a key aspect that they properly check on their BOB. Nonetheless, a huge bonus isn’t always the good way to do in trading because it has some strings attached and sometimes need you to trade in specific volume before you may withdraw. Some brokers even offer exciting promos but typically on limited time offers.

Minimum Deposit – there are trades out there who just want to a have a taste of the industry. They are not even that convinced about binary options trading and they just make smaller deposits. Nobody actually wants to gamble on a thousand dollars just to test the market. A lot simply cannot afford to hand over huge investments and end up with only a few for trading. It actually depends on the depth of your pocket and your gusto as a trader.

Deposits and Withdrawals – withdrawing cash can often be a horrible procedure. Some brokers even make it more daunting for you. Every trader should deeply consider this aspect. After all, it can be very hurtful to see an increase in your account but you cannot easily withdraw it in the end. In another note, you also look for a more convenient manner to deposit cash and not just withdrawing. PayPal can be very convenient and it is actually a favored wire transfer.

Fees – Typically, BOBs ask for fees when you want to withdraw you cash and these fees differ from one broker to another. As a trader, you naturally want these fees to be low and this is one reason why should opt to compare traders. Nonetheless, brokers may have different kinds of fees not just for withdrawals. This is why it is ideal for you to clearly read the Terms and conditions. Lower fees are always better.

3. TRADING PLAN

Tools and Options – when you select your BOD you have to consider the options and tools that they provide. You may need features such as Up and Down option or boundary in and out options. You may also need No Touch or One Touch and Sixty seconds options. Tools like Roll Over and Close now may be provided by one broker but not in another.

Expiry times – Some trader do not use 60 second options while others never opt for monthly expiry times. This typically depends on what kind of trader you are and what are the times that give you more comfort. Hence, if you have a strategy that is only made for sixty second options and your broker does not offer this kind of expiry time then you have to look for another broker.

Amount of Trade – a vital part in selecting a broker is the trade amount. This is directly linked to the amount that you really want to invest. If you want to start with smaller trades then look for BOB that offers lesser position sizes.

Assets – different strategies work in different asset categories. Many traders only focus on few assets. As a matter of fact, this can be a deal breaker. Many traders will end right at the beginning when brokers do not provide the right assets they prefer to trade.

4. EDUCATION AND TRAINING

It is called gambling or financial suicide when you trade without educating and training yourself first. This is why when you badly want to trade you have to choose a binary options broker that can teach you the basics of the risky industry. If you are a novice, see to it that the broker offers a free demo account for you to practice on.

5. WATCH OUT FOR SCAMS

Even in the Binary Options industry, there are scammers everywhere. The best way for you to protect yourself against these posers is to choose a regulated broker. This may be a brilliant idea but looking for a regulated broker may be quite hard to find. But the good news is it is not impossible to find one. All you need to do is to intently research about your target brokers and then compare and contrast.

FINALE

As you can see, you always have to make your own due diligence and it is the only right thing to do since you also learn about the industry as a whole this way. I would advise that you also check our recommended brokers that you can start with, here.

List of the 11 Best Binary Options Brokers – Review 2020

The choice of a good Broker is undeniably one of the hardest steps to successfully trade as a beginner. My Binary Options Broker list and comparison can be very helpful here because the selection of brokers on the internet is quite large and therefore the chance to find a good broker. Find your suitable broker in a few moments in this honest review.

Best Platform
Highest Yield 100%+
Best Support

Broker: Review: Regulation: Min. Deposit: Yield: Advantages: Open Account:
1. IQ Option (5 / 5)
Read Review
CySEC (EU) 10$ up to 100%+
2. Olymp Trade (4.8 / 5)
Read Review IFC 10$ 92%+

Huge range of assets
High Yield 92%
Bonus Program 3. Expert Option (4.8 / 5)
Read Review VFSC, FMRRC 50$ 90%+

Good Platform
Account Types
Good Education 4. Binary.com (4.8 / 5)
Read Review MGA, FSC, VFSC 5$ up to 100%+

Highest yield
Clear platforms
Automatic trading 5. Binomo (4.7 / 5)
Read Review IFC 10$ 87%+

Clear Platform
High Yield 87%
VIP Program 6. Finmax (4.6 / 5)
Read Review FMRRC 250$ 70 – 90%

Account Types
Bonus Program
Webinars, Coachings 7. BinaryCent (4.3 / 5)
Read Review ✘ 250$ 80 – 95%+

Support 24/7
High Yield 95%
Trade with cents 8. Binarium (4.1 / 5)
Read Review ✘ 10$ 70 – 85%+

Clear Platform
Fast execution
Huge range of assets 9. Pocket Option (4 / 5)
Read Review FMRRC 50$ 80 – 90%+

Innovative Platform
Awards
Bonus Program 10. RaceOption (4 / 5)
Read Review ✘ 250$ 70 – 90%

Support 24/7
FX/CFD/Binary
Bonus Program 11. Ayrex (4 / 5)
Read Review ✘ 5$ 70 – 85%

Good Platform
Contests
Bonus Program

Binary Options is a financial instrument to trade worldwide assets with the possibility of a high return on investment. It is like betting on rising or falling markets. There are only 2 options, that is why it is called “binary”. You can win a high return of 75 – 95% in a selected time horizon or you lose the amount of your investment. It is so popular because it is a way to trade the markets very fast (5 minutes or less) and easy. I have to mention here you can trade it longterm too.

For more information about the financial product and how it works read the article: “How are Binary Options are working?”

The criteria of the Binary Option Broker Review 2020

If you looking for a good broker, you should following the next steps when you check the company. Sometimes traders get scammed by a bad and criminal broker. With this review and comparison, we try to prevent it. Furthermore, Binary Options are very risky. You only should invest money, which you can afford to lose. You can check the following criteria for finding the best company.

Criteria for a good and reliable Binary Options Broker:

  • The official physical address of the broker
  • Regulation or license
  • Free Demo Account
  • Experience in the markets
  • Good support and service
  • High asset profit and fast execution
  • User-friendly trading platform
  • A platform for mobile trading

Reliability of a broker and safety for traders

It is important to look at how long the broker has been on the market. I easy checked it on the homepage from the financial companies. A good broker provides you with all the information which you want to know. Some companies got an international regulation or license. Also, this is good for reliability. In addition to that, I checked the address of the brokers in this review. As a trader, you want to see clearly an official address of the company. At latest a trader should trust a broker. If you are not sure, just invest a less amount of money first and check the platform by yourself.

Official regulation and license are very important

High payout and asset return of investment for Binary Options

One of the most important point to consider is the asset profit. The average of the payout in this review is 75-95% for each Binary Options trade. There are differences between the brokers. Every trader wants to make a high profit in trading. If one broker got less asset profit like – 5%, this can be a huge restriction to you possible profits.

Moreover, every time the payout depends on the traded asset. Normally the broker provides the highest payout on the most traded asset. In addition, the payout can dependent on the expiration time too.

Which broker provides the highest profit?

Free and unlimited Demo Accounts are necessary for every trader

The broker should provide you with a free demo account. This is an account with virtual money. It is made to practice the financial product and to test the trading platform. You can trade Binary Options without any risk with this virtual money. It is completely free to use. Also, traders can develop new strategies or improve their trading skills. Advanced traders or beginners try to trade new assets for the best success with this account.

Open your free demo account now.

On the other hand, sometimes the broker gives its traders trading tips for analysis or strategies. The demo account is perfect for practicing that new knowledge. Trading is very complex and often it is not easy to find the right way. This is the main reason for using a demo account. Most traders gain experience first before they invest real money. With own experience, it is possible to get a high profit with trading in the right direction.

How to open your real account

The opening of a real account should be as easy as the opening of a demo account. In most cases, it is very easy and fast. The broker requires some additional documents and data of the trader to proof their personality. Upload a picture/copy of your passport. Sometimes they require a utility bill. The broker will check the documents and verify your account in less than 24 hours. Important information: The broker only withdraws full verified accounts. (Not every broker requires this documents)

What do you need:

  • Data: Full name, address, birthday, phone number
  • Picture/copy of your passport
  • Sometimes picture/copy of a utility bill

Review of the Binary Options Brokers support and Service for traders

As a trader, you need good support and service. Most brokers are showing experience and knowledge in Binary Options. The Binary Options Brokers in this review give you the best and fastest support. According to that, they give traders sometimes a good education with webinars, videos or strategies. For beginners, it is important to learn theoretically about Binary Options. It is a risky financial product.

You can learn the basics and advanced trading knowledge in webinars with experts. The most brokers first show you the basics like functions of candlesticks and the use of technical indicators. Usually, a trading platform offers more than 30 different indicators. Sometimes it is hard to find a good working strategy with them. In addition, they give you some advanced knowledge and information to rule the markets. Most brokers offer you a better education if your deposit is higher (see account types).

Another option of service is account types. For big traders with high deposits and high trading volume, some brokers offer different account types. As a trader, you can get great advantages. They offer you higher yields, better support, bonus or a cashback program. This is a way to get more profit in trading. For example, the broker offers you a higher asset profit of 5%. That can be very helpful.

The companies in this review offer you:

  • Chat support
  • Telephone support
  • Email support
  • Education centers
  • Webinars, videos, strategies
  • Account types
  • Account managers

Diversity of assets and test of the Binary Options trading platform

I tested the trading platforms of the Binary Options Broker Review. In conclusion, they are very good and innovative. They give you a very good reaction rate which is important for short-term trading. You can use them for your computer or as an app for your mobile phone. In addition to that, they are very flexible and customizable. Use different indicators for the best strategies. As you see in the picture below I am using Bollinger Bands and the RSI. They are very popular.

First of all the trading dashboard is the most important point of the trading platform. You should be able to switch very fast between different expiry times and create new trades. Some strategies are designed to have multiple trades open at the same time. The brokers in my review provide you the fastest execution time. Secondly social trading very popular. In some trading platforms, you can copy the best traders of the broker and make an automatic profit. They show you transparently what they are trading and you can start copying them.

Another important point is the flexibility of the platform. An app should be available for mobile trading. On most platforms, you can customize the chart very easy. Thanks to the digitization, platforms are getting better and the brokers always try to improve them. Use free indicators and technical tools for your analysis. Moreover, you can use the newsfeed to trade exactly high volatility. Market news occurs every day – Why not use them to make money?

Facts of the Broker Review:

  • Fast execution for your trades
  • Customizable
  • Use indicators and more
  • Apps for mobile phone
  • More than 50 different assets

On the most trading platforms, you can trade Binary Options with forex, stocks, cryptos, and commodities. There is a big diversity of assets for you. The yields depend on the category of the asset. More often than not the most traded asset gives you the highest yield. You can easily see that on the platform.

Weekend Trading (OTC) and Cryptocurrencies (Bitcoin and more)

Each broker in this list provides the service to trade on the weekend. The platforms are open 24/7. Weekend trading is allowed and advocated. On the weekend you can trade Cryptocurrencies like Bitcoin, Ethereum, Ripple and Forex OTC charts. Cryptocurrencies are traded decentralized and the stock market is open 24/7 for them.

Especially attention should be paid to the OTC Forex charts. Normally the stock exchanges are closed on the weekend but the international internal bank market is working. The volatility is much less than in the normal working days Monday – Friday.

The first steps for your Binary Options success:

  1. Learn the Binary Options basics. Information for trading Binary is available at the broker platform or the internet. For questions, there are certain forums available.
  2. Develop a successful strategy. Most brokers will help you to find a way to trade successfully.
  3. Use the Demo account. It is an account with virtual money. So you trade without risk the markets.

You should ask yourself these questions:

  • What do I want to achieve with the trading of Binary Options?
  • How much I want to invest?
  • Where, on which market I want to trade?
  • How do I react to losses?
  • What are the chances of winning?

Deposit and withdrawal by a Binary Options Broker

Nowadays the deposit is easy like the withdrawal. Most brokers only need a small amount of money to open your real account and give you access to the market. Capitalize your account in few seconds with a credit card, bank wire, cryptocurrencies or other e-wallets. Today it is very simple. The withdrawal systems are working very good too. Sometimes it is fully automatic. Most companies payout in less than 24 hours. In addition in a lot of cases, there are not any fees for you. Another important fact is brokers only withdrawal verified accounts. So get your account full verified with the right documents as mentioned before.

Bonus Programs and conditions for traders

Bonuses are very popular in the section of Binary Options Brokers. Most companies offer a deposit or a no-deposit bonus. There are a huge diversity of promotions for traders. Mostly the bonus depends on the deposit amount or you can choose it manually. For example, some brokers offer a bonus of more than 200%.

It is a good way to top up your trading account balance and earn more money. You can trade with more risk and grow faster your account, but you should not forget the bonus conditions. Every time there are requirements for the bonus. For example, you do a deposit of 5000$ to your broker and trade with sensible money management of 1% of the account balance per trade. That means you invest 50$. Now you activate a bonus of 100% and additionally you get extra 5000$ and your account balance is 10.000$ now. At the moment you can trade with sensible money management with an amount of 100$ per trade. That sounds good and you grow your account faster as without bonus.

The deposit bonus is a good way to increase your account balance and to trader with more risk.

As mentioned before there are conditions of the bonus. Simply there is the requirement of turnover of the bonus amount. Sometimes you have to do a turnover of x20 and sometimes you have to do a turnover x50. It is important to read the bonus requirements. If you got any questions, you can ask the support. In most cases, you will see the requirements transparent on the platform.

  • Deposit bonus: Get additional money to your account balance.
  • No deposit bonus: You will get a small amount of money for free, but you have to do a huge turnover before you can payout the profit.

Welcome Bonus for beginners

The no deposit bonus is named welcome bonus. There are different ways to get a welcome bonus. One way is to win a free demo contest (read more below) without any risk. You compete to other traders on the platform. The rules are easy to understand: Just try to get the highest account balance versus your competitors. If you win, the broker pays a high prize. It is like a welcome bonus because you do not invest real money.

On the other hand, as mentioned before the no deposit bonus is like a welcome bonus. There are a few brokers who offer this bonus. Just create your real account and activate the welcome bonus. The company gifts you any amount of money to your account balance but you can not withdraw the money. You have to do a high turnover of the welcome bonus like 30x or 40x. Recommend broker for a welcome bonus is Pocket Option.

Binary Options Tournaments

In addition, most brokers offer tournaments or demo contests for beginners and advanced traders. You must pay a fee to participate in a contest with a huge prize fund. The rules are very simple: You get a separated demo account where you have to get the biggest balance as possible. You will compete against other traders of the broker. Sometimes there is a prize fund of 100.000$ or more. Furthermore, it is not easy to win the contest because there are a lot of competitors.

The demo contest is a tournament without participation fee. That meant that the prize fund is much smaller than the paid tournaments. But it is a good way to earn money with a small amount of money (participation fee). If you are a successful trader, you can easily win these contests.

Countries for traders

Binary Options are not allowed in every country of the world. In addition, some countries forbid trades to use foreign brokers. Most brokers accept international traders, but there are restrictions for forbidden countries. You can not generalize it because the broker decides which customer he accepts.

Nowadays Binary Options become more and more popular for traders. It is a simple and efficient financial product. It is possible to generate a high payout in a short time horizon. Asian and Africa are growing very fast and people like the function of trading. The brokers in this review try to improve their service in this region of the world because the demand is very high. They improve their customer support with different languages and other services.

The fastest growing countries:

Are Binary Options legal?

Sometimes there are some restrictions to this financial product that depends on a particular country. Personally, I only know one area where Binary Options are forbidden. It is the European Union but some offshore and international brokers accept EU traders. It is like gambling on rising or falling markets and easy to understand. The EU tries to protect its citizens because there are a lot of scam brokers. To prevent a scam, use the best brokers of this review.

Find the best Binary Options Broker 2020 – Conclusion of my review

On this site, I showed you the idea of finding a reliable Binary Options Broker. In the list, you see the best companies in 2020. For successful trading a good broker is necessary. The company should allow you your own strategy of trading and give you good support and service. On most platforms, you can learn via education videos how Binary Options are working.

Also important is the execution of your trades. It should be very fast and with no delay. Usually, every broker does that. Nowadays as a trader, you can start with a small amount of money to trade Binary Options (10$ or less). It is possible to turn it in a high amount with the right strategy. In conclusion on this site, you can find the best and proofed Binay Options Brokers 2020.

Read more about them in my reviews:

I recommend this article if you can not choose between the most known brokers: “IQ Option vs. Olymp Trade vs. Binomo”

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!

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