Best Binary Options Brokers in 2022

Compare binary options brokers

In this guide, we’re going to compare and review the most popular and best binary options brokers. We love to help you to pick the right platform for you by offering you a free comparison tool that includes bonuses, payouts, regulations, minimum deposits, assets to trade (forex, cryptocurrencies, CFD,..), and trading platforms.

At UsBinaryOptions, we’re testing the most trusted binary options platforms since 2013. Find below a comparison table with the latest results.

Best Binary Brokers in 2022

Pocket Option

50% Bonus ( Bonus code: 50START)
Trading on financial markets carries risks. Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and take into account your investment objectives and level of experience.

Pocket Option is a global binary broker that was launched in 2017 by a leading IT team in Europe. Today,  Pocket Option is one of the most reliable trading platforms in the industry with + 10 million customers from around the World. They offer over 100 assets to trade, including cryptocurrencies, to beginner and advanced investors. Good payouts,  instant deposits (min.$50), a free demo account, and a modern platform are some of their good points.

RaceOption

Up to 200% Bonus + Giveaway Prizes

This broker launched in the year 2017 is a relative newcomer in the binary options industry. RaceOption accepts customers from all over the globe including US customers. A customer can trade on over 150 assets and the choice of currency to trade includes USD, EUR, GBP, and RUB. The brokering company also assigns high priority to customer service.

VideForex

Up to 100% Bonus + Free Risk Trades

It’s a revolutionary trading broker that offers a 24/7 live video chat with real managers willing to help you in all your trading sessions. VideForex is the most advanced trading platform offering CFD/forex and binary options trading with good payouts.

Binarycent

Up to 100% Bonus + Giveway Prizes

If you are looking for binary options brokers rendering a hassle-free service, probably, Binarycent is one of them, though any financial authority does not regulate them. However, with a very impressive deposit bonus and trades from 10 cents, they offer services to US traders. Their website is accessible not only on a desktop or on a laptop but also through a portable device powered by either Android or iOS. This is a very convenient option for those who travel extensively to get updates through pocket-friendly devices.

If you are trading online then you need to register with a binary options brokerage. There are quite a few binary brokers listed available and finding the best among them is getting tough since it is hard to trust believe and even find the right brokers. So to make the traders’ choice easy, we provide a few top binary options brokers listed in this article.

Tips for Selection of Broker

Of course, the first thing a customer does is to Google the best binary options brokers and find out the services, and their reputation besides the customer reviews. You can also browse some third-party websites for an impartial review. A customer may also keep the following tips in view before short-listing the binary options brokers.

Demo Account

Though not mandatory to test the demo account, it is a requirement to test for a while to ensure how consistent it is in maintaining profitability. An offer of a demo account also ensures that the broker desire profitability as well as yearns for a long-term relationship with the customer. Thus, it proves that the broker cares for the success of a customer on a long-term basis. In case there is no demo account, probably, the broker is looking for a short-term gain, which is a disadvantage to the potential customers.

Trading Tools

Anyway, the broker offers you a trading service for which he is in the business. What you should look for obviously is beyond the routine service – what more value-addition service he renders to the customers. The basic platform might offer you a couple of trades. However, an honest and genuine broker should offer you other features such as double up, rollover, early close, or any such trading tools. It is also a good idea to look for a broker offering you educational resources on the subject. 

You should aim for a broker who arranges webinars, video tutorials, or one-to-one training sessions explaining the strategies of trading. The FAQ and trading alerts would also be an added advantage for a customer.

Customer Service

No doubt, customer service is very crucial in any service industry. You should not be carried away only with the website or tools of the binary options broker. You can try a conversation with the customer service team to find out how the service is. A few questions on the subject would reveal how proficient the manager is in answering your queries. Moreover, you can judge whether he is customer-friendly while replying to you. Probably, sometimes, the service representative tries to convince you to be their customer without answering your query.

Read the Fine Print

The next significant pain point is the terms and conditions of a broker. Despite all the positive features, in case the conditions of a trade are not favorable, probably you are inviting trouble for yourself. 

Sometimes, a customer takes for granted the terms and conditions in the process of completing the formalities to hasten the trading activity. The unfair and unfavorable conditions could be a reason for your subsequent losses in the transactions.

It is always advisable to go through the FAQ and fine print the conditions for each of the features. Do not affix your signature on the dotted line without reading between the lines. 

Reputation

The reputation of all binary options brokers, including those US binary options brokers,  plays a vital role especially when the regulatory stipulations are very fluid. In the absence of strong regulatory authority, the onus is exclusively on you as a customer. Even if someone is regulated, the entity might be only for private banking services, or some business entity. Since there is a host of brokers in the trading market, you should check out the reputed broker offering a secured and safe trading platform.

With the technology at your fingertips, the review of any broker is only a few clicks away. You can take a few minutes in browsing the information on the reputation and feedback from the customers’ reviews.

The points of consideration could be multi-platform accessibility like mobile-friendly websites, multi-currency options, and a company offering you a wide range of banking solutions free of charge. These are not very high expectations of a customer. In the present-day situation, accessing through a portable device is almost a necessity for a trader, and the option to trade in the currency of different countries. If you are keen on some specific asset, make sure that the asset is tradable with a broker you are contemplating.

What Are Binary Options?

Firstly, let’s have a look at how it all works. Put simply, binary options are a derivative that can be traded on any instrument or market. They appeal because they are straightforward. You know precisely how much you could win, or lose before you make the trade. No complex maths and calculator is required. This is why they are also known as all or nothing trades.

If you anticipate news announcements, quarterly reviews, or global trends, then you may be able to make an accurate determination as to whether the price is going to increase or decline at a certain point in the future, turning a profit.

There is a whole host of derivatives to choose between. You can trade binary options on commodity values, such as aluminum and crude oil. You can opt for a stock price, such as Amazon and Facebook. There are foreign exchange rate options, including all the major and minor pairs. Even cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are on the menu.

A Brief History

If you want to start trading binary options full-time, a detailed understanding of their origins will help. Binary or ‘digital’ options have been around for decades. Originally though, it was only large institutions and the fabulously wealthy that had access. However, 2008 saw the US Securities and Exchange Commission open the floodgates by allowing binary options to be traded through an exchange.

The internet and technology have since given the whole world access to these ‘digital’ options. As it stands, with low barriers to entry for savvy day traders and a simple to understand preposition, the demand for these digital trades will only increase.

Can Trading Binary Options Make You Rich?

Although exciting and dynamic, to make a living trading binary options you’ll need to use this page and other sources as guides. Can trading binary options make you rich then? Done correctly, yes it can. There is no question of binary options potential profitably, this is evidenced by numerous millionaires. To get there though, you’ll need the right broker, an effective strategy, and you’ll need to invest in your trading education, by utilizing the resources outlined above.

Option Types

There are a number of different option types to choose from. The most popular types are listed in the brief glossary below.

  • Up/Down (High/Low) – The most simple and prevalent binary option. Will the price be higher or lower than the current price when the expiry time comes?
  • In/Out (Range or Boundary) – A ‘high’ and ‘low’ figure will be set. You are then making a determination as to whether the price will finish within or outside of these boundaries.
  • Touch/No Touch – Levels will be set that are either higher or lower than the current price. You then enter a position as to whether the price will ‘touch’ these levels between the time of trade and expiry. Payout will come as soon as the touch takes place.
  • Ladder – These are similar to up/down trades. However, instead of using the current price, the ladder will have pre-determined levels that are staggered up or down. These normally demand a substantial price move. The flip side of this is that returns will frequently exceed 100%. Although it is worth noting, both sides of a trade are not always available.

Expiry Times

Another important component of binary options is expiry times. This is when the trade will end and the point that determines whether you have won or lost. These times can range from 30 seconds and 1 minute (turbos) to a full day (end of the day), and even up to a whole year.

As an intraday trader though, you will be more concerned with trading 5 and 30-minute binary options. Opt for binaries with 1 minute expiry times though and you have the ability to make a high number of trades in a single day.

Is Trading Binary Options Legal?

Despite the somewhat negative reputation, the reality is binary options are legal. The majority of companies operate fairly. Opinions have been split because there are some out there that operate scams.

Regulation in certain regions has meant binaries have been withdrawn from the retail market. In the EU for example. But professional traders can still use them. In regions such as India and Australia, binary is legal – but traders should make sure they use a reputable broker, and read our section below on avoiding scams.

The binary reputation has suffered from dishonest marketing and cybercrime. Too many unregulated brokers promise quick cash, whilst operating frauds. Regulators are on the case and this concern should soon be alleviated. Binaries themselves are perfectly legitimate, but steer clear of instant money promises, brokers that cold call, and celebrity endorsements, plus any claims that you can start trading binary options for free. So it isn’t a question of good or bad, it’s simply a question of being alert to the dangers and knowing what to look out for. If you’re unsure about a broker, ask the question in a live trading room to check they’re properly regulated.

Binary Options Vs CFD Trading

Although in some ways similar, there remain some crucial differences between binary options and CFDs. With CFDs, you have potentially unlimited risk. If the price of the asset moves significantly, the value of the trade can grow very large, very quickly – for better or worse.

Whereas binary options work slightly differently. Whilst you are still investing without owning the asset in question, the gain and loss rate is fixed. With a call option, it doesn’t matter if the price rockets, you retain the same percentage as if it rose by just a couple of pips. Likewise, if the price sinks to zero, you’ll only lose what you put in. So, to define the difference – with binary options you get fixed risk. Having said that, just as if it was binary options versus forex trading, you are restrained in your profit potential.

Why Trade Binary Options?

If you want to profit from trading binary options, you need to first understand both their pros and cons. You need to make sure binary options will suit your trading style, risk tolerance, and capital requirements.

There is a whole host of attractive benefits to trading with binary options. The greatest advantages have been outlined below:

  • Simplicity – Because you are making a determination on only one factor, direction, your bet is straightforward. The price can only go up or down. You also don’t need to concern yourself with when the trade will end, the expiry time takes care of that. Whereas in other markets, you may need a system to limit your losses, such as a stop-loss.
  • Fixed risk – Trade stocks, gold, and crude oil and you’ve got a vast number of factors to contend with, from slippage and margin to news events and price re-quotes. With binaries, your risk is kept to a minimum with far fewer parameters.
  • Trade control – Because you know what you may make or lose before you enter the trade, you have greater control from the start. Trade-in stocks, for example, and you have no guarantee that your trade will make the entry price.
  • Profit potential – Compared to other forms of trading, the returns in binaries are extremely attractive. Some brokerages promise payouts of up to 90% on a single trade. If you’re looking to make simple trades with large profit potential, binaries could well be worth a look in.
  • Choice – Rather than being constrained to a specific market, e.g. cryptocurrency or stocks, binary options gift traders the opportunity to trade instruments across virtually all markets, allowing you to start currency, indices, and bonds trading if you so wish.
  • Accessibility – In the binary options game, it’s always the best trading hours somewhere on the globe. So, you can log in at night, or on the weekends and join the groups of avid traders attempting to turn daily profits. Real-time charts are available for every market so if you’ve got the time you can invest 24 hours a day.

Whilst there are plenty of reasons to delve into trading on binary options, there remain several downsides worth highlighting:

  • Reduced trading odds – Whilst you can benefit from trades that offer in excess of 80% payouts, these are often when the expiry date is some time away from the trade date. If the odds of your binary trade succeeding are extremely high you may have to make do with reduced payout odds.
  • Limited trading tools – Whilst most brokerages offer advanced charting and analysis capabilities, trading tools for binary traders often fall short of the mark. Fortunately, there are other online sources for these graphs and tools, plus brokers are working swiftly to increase their offerings.
  • Price of losing – Your odds are tilted in favor of losing trades. Approximately for every 70% profit, the corresponding loss of the same trade would result in an 85% loss. This means you need a win percentage of at least 55% to break even.
  • Risk management – Unlike other markets, brokers often set a trading floor, with minimum accounts a trader needs to enter the market. This means losing capital can happen with ease. Whilst a stocks broker may permit you to open an account with $250, trading micro-lots, most binary brokers won’t allow $50 trades. So, even with $250 in your account, just five trades that don’t go your way could see you sink into the red.

How Does Binary Options Trading Work?

Trading binary options for beginners is straightforward. Simply follow the steps outlined below.

Step 1 – Find a broker


This is one of the most important decisions you will make. You need the best binary options broker that meets all your requirements and who will enhance your trade performance.

Step 2 – Choose An Instrument/Market

You can trade binaries in pretty much everything, including stocks, forex, indices, and commodities. You can bet on anything from the price of natural gas, to the stock price of Google. Opt for an asset you have a good understanding of, that offers promising returns. Once you’ve made that decision, check and confirm your trade. Then you can sit back and wait for the trade payout.

Step 3 – Decide On An Expiry Time

As a short-term trader, you’ll probably be more interested in 30 seconds, 1 minute, and end-of-day expiry times. You need to balance binary options trading volume with price movement. Whilst the more trades you make mean greater profit potential, it’s better to make fewer and more accurate trades. Also, find a time that compliments your trading style.

Step 4 – Decide On Trade Size

In the binary options game, size does matter. The greater your investment the greater the possible profit. On the flip side, remember the entirety of your investment is on the line. You need an effective money management system that will enable you to make sufficient trades whilst still protecting you from blowing all your capital.

Step 5 – Choose An Option

You will have any number of the options outlined above to choose from. Think carefully about how confident you are in your determination. Consider factors that will jeopardize your investment, and select an option that gives you the best chance of succeeding. Don’t automatically select a ladder trade because you want huge returns, consider which options are the relatively safe bets.

Best time to trade Binary Options

Many binary options strategies pdfs fail to sufficiently consider time variables. Certain strategies will perform better with specific time options. You may want to look specifically for a 5-minute binary options strategy. Alternatively, trading 15-minute binary options may better suit your needs. So, whichever strategy you opt for, ensure you take time into account.

Can you trade at weekends?

Yes. There are two ways to trade at weekends. Firstly, forex markets are still open in some parts of the world during the “weekend” in other parts. Binaries can be traded on forex during these times.

There are also ‘synthetic’ markets with some brokers (such as binary.com) but traders should note there is no underlying market with these options. They are ‘virtual’ markets created solely to cater to traders looking to trade anything at all. They are not for sophisticated traders.

Binary Options Education and Mindset

Binary options trading 101; immerse yourself in educational resources. As Benjamin Franklin asserted, ‘An investment in knowledge pays the best interest’. The top traders never stop learning. The markets change and you need to change along with them.

To do that, utilize some of the resources detailed below.

  • Books & eBooks – There is a whole host of books and ebooks out there that can impart invaluable information on day trading binary options. You can benefit from the binary options trading knowledge of experts with decades of experience. The good thing about a book it is allows you to learn at a pace that suits you. One book that has made binary options trading easy is ‘Trading Binary For Dummies’, by Joe Duarte.
  • Video tutorials & seminars – Engaging and easy to follow. There are numerous online video tutorials out there that can walk you through making a trade. With seminars, you’ll also be able to have questions answered and the binary options trading basics explained, plus some brokers offer weekly seminars to keep you up to date with market developments.
  • PDFs & instruction guides – These will give you a clear breakdown of steps that you can follow and apply. The best part is you can find plenty online that are totally free and easy to download, whether you’re using Android, Windows, or iOS. The trading binary options ‘Abe Cofnas’ pdf is particularly popular.
  • Forums & chat rooms – This is the perfect place to brainstorm ideas with binary options gurus. You can benefit from recommendations and learn in real-time whilst investing in your binary options. You can also swap live chart screen grabs to get a feel for other binary methods and tactics.
  • Newsletters & blogs – These are brilliant for keeping up to date with upcoming developments that may affect your markets. Plus, you could hear about binary options competitions (yes, they really do exist).
  • Copy-trading or Social Trading – This is when social trading networks/platforms are combined with binary trading tools. You can follow experienced traders, analyze their strategies, and then replicate their trades. Check out copy trading reviews before you sign up.

All of the above will play a key part in your binary options trading training. Free trading videos and examples will help give you an edge over the rest of the market, so utilize them as much as possible.

Binary Options Taxes

Another important regional distinction comes in the form of taxes. Some countries consider binary options as a form of gambling, such as the UK. This comes with notable benefits. The HMRC will not charge you any taxes on profits made through binary options. However, in the future binaries may fall under the umbrella of financial derivatives and incur tax obligations.

Having said that, if day trading binaries are your only form of income and you consider yourself a full-time trader, then you may be liable to pay income tax. Whilst you are probably still exempt, it is worth seeking clarification.

Outside the UK, tax regulation differs hugely. Binary options in Japan and Germany come with vastly different tax obligations, for example. So, before you start trading seek advice to ascertain whether you’ll be exempt from tax. If not, will you pay income tax, capital gains tax, business tax, and/or any other form of tax?

Sign Up Bonuses

Both sign-up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment, or risk-free trade. Whatever the form of a bonus, there are terms and conditions that need to be read.

It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to opt out of taking a bonus.

Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to over-trade. If the bonus does not suit you, turn it down.

James S. Martin
Latest posts by James S. Martin (see all)

Leave a Reply

Your email address will not be published.

six + 8 =

en_USEnglish