Spending time on doing research and comparing between different top brokers is necessary when you are planning on signing up for a trading account with a broker.
The consequence of not doing research is that you will end up losing money instead of making profits in the binary options trading. The following is a comparison of 6 top binary options brokers in the market.
Binary Tilt is a new binary options broker run by a company called Scent Investments Ltd. The licensed binary options broker is headquartered in New Zealand and founded in 2013. You just have to deposit a minimum of $250 to open a trading account with Binary Tilt. It offers a demo account that is already pre-loaded with $1,000 virtual credits.
It offers the SpotOption platform and support mobile trading platform for iOS and Android. Its minimum trade size is $10 while the maximum trade size is $20,000. It offers all 4 major groups of assets including 19 indices, 33 forex, 11 commodities and 43 stocks. The payout is up to 89% for in-the-money trade and they offer sell back option for out-of-the-money trades. Some of the different types of options it offers are high/low, pairs, and one touch.
24Option is a top binary options broker founded in 2010 in Cyprus and they are currently under the ownership of Rodeler Ltd. The minimum deposit for the Standard account is $250 and a demo account is available. 24Option offers 110 assets and supports 5 types of currencies for the trading account are USD, EUR, GBP and Yen.
The minimum trade size that you can place on 24Option is $24 while the maximum amount that you can invest in per trade is $100,000. traders can expect to profit up to 89% on the payout if they win the trade.
If you lose the trade, you can use the sell back option at 24Option to get back some money. It offers 4 main types of options including standard call/put, touch, 60 seconds, and boundary.
Banc de Binary
Banc de Binary is a FCA and CySEC regulated broker founded in 2009. It offers 100+ assets and the minimum deposit for opening an account is $250. Banc de Binary supports 3 types of account currencies including USD, EUR and GBP. It offers the lowest minimum trade size as they allow you to place a trade for as low as $1.
The maximum trade size you can place on per trade is capped at $2500. Banc de Binary offers the SpotOption platform that is filled with many useful tools for both newbies and experienced traders. There is a free demo account that you can use to test the platform without using real money.
The payout rate you can expect earn from trading at Banc de Binary is about 70% – 89% and they also offer up to 10% of refund for out-of-money trades. They offer 5 types of options including standard binary option, touch, option, builder, and 60 seconds.
365BinaryOption.com is a reputable binary options broker that belonged to Fintech Software Inc. in order to open a trading account, you must make an initial deposit of $200.
It offers the Tech Financials platform and there is no demo account available for traders to test the platform. 365BInary Options offers 115 assets and support three types of account currencies. The currencies it supports are USD, EUR, and GBP. 3 The minimum trade size is $10 while the maximum trade size is capped at $10,000.
The maximum ROI for trading on the standard options is 85% and the amazing thing is that they offer a refund rate of up to 45% for out-of-money trades.
CherryTrade is a binary options broker that belonged to Redtulips Consultants Ltd and it was founded in 2013. requires traders to make an initial deposit of at least $200 when they want to open a new account. CherryTrade’s trading account supports six types of currencies including USD, EUR, GBP, JPY, CAD and AUD.
It offers the SpotOption platform and the maximum payout for the standard options is 81%. It costs you a minimum of $5 to place a trade and you can invest up to $5000 for per trade. CherryTrade offers more than 100 types of assets and they have many stocks from big companies such as Apple, and Amazon.
Ubinary was founded by a team of 50 traders that have lots of experiences in binary options in 2011 The broker operates under a company called PTT Capital Group that is governed by the authority in Belize. It offers the ParagonEx platform, which stands out from the platforms that most of the brokers are using.
The minimum deposit is $250 for opening a Micro trading account. The account at Ubinary supports 3 types of currencies including USD, EUR and GBP. You must spend at least $20 when you want to place a trade and the maximum trade amount you can place is $2500. You can access the 74 assets on the trading platform as soon as you login into your account.
It offers a high maximum payout rate of up to 95% and they also offer an 18% refund for trades that are lost. There are many types of options for you to choose from including up/down, speed trading, 60 seconds, long term, option and builder.
In conclusion, you should read reviews by other traders apart from comparing the features between different traders. This will help you to determine the strength and weakness of a broker prior to signing up.