Top 5 Binary Options Brokers – January 2021
If you are trading through online then you need to register with a binary options broker. There are quite a few binary brokers list available and finding the best among them is getting tough since it is hard to trust and believe and even finding the right brokers. So to make the traders’ choice easy, we provided a few top binary options brokers list in this article.
We’ve tested the most trusted binary options platforms, and below you can find a comparison table with the results.
Best International Binary Options Brokers
Best US Regulated Binary Options Exchange
It might be surprising to someone that online financial trading in the USA is rather hazy. The role of two licensing and regulating bodies, viz., Commodity Futures Trading Commission (CFTC) and the National Future Association (NFA) has been rather passive. No fret… You need not be despondent on this count. There are some reputed offshore binary platforms to cater to the customers residing in the US. You can depend on the binary options brokers, which are safe and secure, as well as maintain the requisite standards. Let us have some insight into the binary options trading.
Best Binary Brokers
If you are looking for binary options brokers rendering a hassle-free service, probably, the 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 the US traders. Their website is accessible not only on a desktop or on the 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.
This broker launched in the year 2014 is a relative newcomer in the binary options industry. RaceOption accepts the customers from all over the globe including the 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 for the customer service.
Best Binary Options Exchange
North American Derivatives Exchange (Nadex) established in the year 2009 is the US-based exchange, which is a subsidiary of IG Group Holdings Plc. Nadex, regulated by the CFTC is also one of the most trusted brokers among the US traders. The simple to use trading tools also offer advanced tools for needy traders. Moreover, you can access educational material on the Nadex learning center. You can also try their demo account on the desktop or portable devices.
Tips for Selection of Broker
how to choose a binary options broker?
Of course, the first thing a customer does is to Google the best binary options brokers and find out the services, 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 the profitability. An offer of a demo account also ensures that the broker desire profitability as well as yearns 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 the 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, the 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. In spite of 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 of the conditions for each of the feature. Do not affix your signature on the dotted line without reading between the lines.
The reputation of the binary options brokers the USA 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 for the reputed broker offering 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’ review.
The points of consideration could be multi-platform accessibility like the mobile-friendly websites, multi-currency options and a company offering you a wide range of banking solutions free of charge. These are not a very high expectation 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.