Binary Options Broker Reviews and Platforms List

Binary Options Broker Reviews and Platforms List

Binary Options Broker Platforms List & Reviews

Legit Binary Options Review filtered out the best licensed binary options broker platforms for you and here is the list. Here in this list, you will find the brokers both for newbies and experienced traders because all the broker’s platform of this list has been reviewed personally by our team members. Tops brokers come first in this brokers platform list.

Gary Wilson is here and I am a reviewer of Legit Binary Options Review team. I will explain what you will find on this list and how to compare brokers to select the right one for you according to your needs and requirements. You will find reviews and official websites of these brokers in this list as well as can compare their regulation, minimum deposit amount, payout returns, and bonuses.

Top Binary Options Broker Platforms

Now let’s see the comparison of the broker platforms.

How to Compare Brokers Platform

You must have to engage with a binary options broker if you want to trade binary options. Above you can see the broker platforms comparison list which will help you to compare brokers platform. You should check the following facts to define which broker is suitable for you according to your requirements:

  • Minimum deposit amount
  • License and regulation
  • Demo account
  • Signal service, is it free of cost or not?
  • Mobile Trading Application
  • Bonuses and Terms and Conditions for bonuses
  • Which broker has the best trading platform?
  • Which broker has most assets on their asset list?
  • Expiry times and who gives the largest range for that?
  • Minimum trade amount
  • Available options type for trading such as Boundary, Touch, and Ladder etc.

We tried to compare the main facts in the above list and you will have more details in our broker’s reviews for sure.

Binary Options Brokers License and Regulation

License and regulation are one of the major factors you should check to select a broker. Unlicensed and unregulated brokers are not safe though all of them are not a scam, but why you take a chance? My recommendation is to go for a licensed one always.

Here are some major regulatory authorities from all around the world:

  • CySEC – Cyprus Securities and Exchange Commission (Cyprus base regulator)
  • FCA – Financial Conduct Authority (UK base regulator)
  • CFTC – Commodity Future Trading Commission (USA base regulator)
  • BaFIN – Bundesanstalt fur Finanzdienstleistungsaufsicht or Federal Financial Supervisory Authority (German base regulator)
  • CONSOB – Commission Nazionale per le Societa la Borsa (Italy base regulator)
  • AFM – Netherlands Authority for the Financial Markets (Netherlands base regulator)
  • REGAFI – Registre des agents financiers (France base regulator)

binary options trading

There are more regulatory authorities are available who are licensing and regulation binary options now as a trending financial tool. A broker can be licensed and regulated by one or multiple regulatory authorities. Most of the major regulatory authorities are based on Europe where binary options trading is more popular and increasing it’s acceptation rapidly.

The aim of licensing and regulation is to protect the binary options trader and to ensure their investment security. When you choose a broker, consider this factor as the most important one.

Check for Bonuses & Terms and Conditions for Bonuses

Binary options brokers give both sign up bonus and deposit bonus to attract new customers. You cannot withdraw bonus money, you can only use them for placing trades. If win the trades what you placed by bonus money you obviously withdraw the profit amount. Some broker gives both and some brokers give one. Before accepting any bonus from the broker check their bonus terms and conditions first. It may take time but you must read it.

iq option deposit bonus

If the bonus terms and conditions are not suitable for you then it is not the right broker for you. It is also true that some brokers bonus T&Cs can be suitable for you but the platform is not. Then consider the platform first. A good platform is more important than bonuses.

Moreover using bonus amounts efficiently are not so easy. If you want to take bonuses consider the fact that it may affect on your regular trading. In the terms, you will find a common issue which is turnover requirements and for this reason trader do over-trade often. You should not take any bonus if it affects your normal trading.

Demo Accounts to Test Brokers Platform

You need a demo account if you want to test a trading platform of a binary options broker. You can test brokers trading platform by demo account with any risk of losing your money. Maximum major legal and licensed binary options brokers are providing demo accounts for their clients to check their trading platform and to familiar with it.

Before start trading with real cash try the demo accounts of the brokers and choose the best trading platform for you. Demo account is the only way to learn about a broker platform with any risk.

Low Minimum Deposit Amount

If you are a new binary options trader then you should consider low minimum deposit amount in the count. For newbies, the brokers with low minimum deposit amount can be the best option. New traders should take a low risk at the beginning until they feel good to go with bigger investments.

There are many binary options broker available in the market who offers a minimum deposit amount as low as $5 and the number of brokers with low minimum deposit amount significantly increasing. Deposit amount under $50 can be considered as low deposit amount. All the broker have a requirement of minimum deposit amount. You should check that before joining a broker.

The minimum investment amount for a trade can be $1 to $25. If you trade regularly, it can make a big difference in your trading. For expert traders, this factor is not so important to choose a broker platform but for newbies, it’s a very important fact.

Payout Returns

Want to join the best binary options broker? Check their payout return percentage to determine that. This comparison is not simple. Based on the asset price and trade expiry time the payouts can be changed. Payout also can be changed because of the risk management of the brokers. It’s an ever changing process and depends on the market condition.

So what you can do? Check the payout of assets, their expiry time and terms & conditions. Select which broker gives you the best price more often. For researching the payouts of assets and trades demo account is the best way.


Current brokers and exchanged traded may have different payouts and it is not easy to compare. Generally, superior values are offered by the exchange-traded options and Nadex is one of the best examples of that kind of exchange.

You might understand that it is not easy to find out the best broker for you. But you should remember that you can move into the brokers anytime. So if a broker does not work for you, find out a new one. Moreover, you can have multiple accounts in the different broker, and trade with the broker who gives you the best price of the assets.

Which Binary Options Trading Broker is the Best?

It is not easy to name a broker as the best binary options broker because this is the fact of traders personal need and taste. Some traders may like simple interface of the broker while other may like a platform showing lots of data on the screen at the same time.

However, brokers platforms are also different in quality, features, and terms of use. Generally traders like the platform with rich assets list and best price.

Traders also like the professional trading platforms like IQ Option, 24option, and The unique trading platform is more preferable to the traders and in forex traders prefer a platform with Meta Trader. For all of these reasons, a specific broker cannot be best for all traders. Traders taste is different and best broker for them is also different.

How Binary Options Brokers Make Money?

Mainly by the bellow two business models binary options brokers make their money.

  1. Act as the counter-party and via payout percentages, they ensure an over round which is known as the OTC or Over the Counter.
  2. By an exchange-traded business model via commissions or spread.

The traders who are familiar with other forms of trading when approaching OTC or Over the Counter brokers first time a question arise on their mind and that is “where is the trading commission?”.

binary options broker

There are no commissions in OTC binaries. Theoretically, the term broker is not correct for a binary options trading firms because they are not acting as the media, or dealer or middleman. They are the counter party of their client’s positions. For that reason, there is no commission or fee for trading. Instead of commission or fee, the clients are betting against the broker houses. Brokers have a handsome margin where they covered the both side of the trades.

The companies are much more like a broker who trade binary options via the exchange, as for example Daweda Exchange. In OTC market the trading platform is the counterparty of their customers and in the exchange traded options the broker acts like a media or middleman who matching buyers for the sellers and for this they charge a commission or fee. The brokers who have less risk involved generally generates a greater return for the traders.

Who Regulates Binary Options Brokers?

There are many regulatory authorities who regulates binary options brokers and the major ones are:

  • CySEC – Cyprus Securities and Exchange Commission (Cyprus base regulator)
  • FCA – Financial Conduct Authority (UK base regulator)
  • CFTC – Commodity Future Trading Commission (USA base regulator)
  • BaFIN – Bundesanstalt fur Finanzdienstleistungsaufsicht or Federal Financial Supervisory Authority (German base regulator)
  • CONSOB – Commission Nazionale per le Societa la Borsa (Italy base regulator)
  • AFM – Netherlands Authority for the Financial Markets (Netherlands base regulator)
  • REGAFI – Registre des agents financiers (France base regulator)

binary options trading

CySEC is the most trusted regulatory authority and around the Europe, to passport you can use this regulation. So CySEC regulated broker can operate their business in the European country without any problem. However, there are many domestic regulators in each country and they can also regulate binary options broker according to their own law and affairs.

Usually, regulation organized by the specific country all around the world like the FSB of South Africa and CFTC of United States. These regulatory authorities ensure the protection of traders investment.

Regulatory authorities take harder action against the binary options brokers if they violate the rules of regulators. The financial market scenario has been changed and now binary options industry treated like the other investments market.

Should Trader Use Multiple Binary Options Brokers?

Should you use multiple trading accounts in multiple binary options broker? Well there are arguments on this fact:

  • Certain trades suits by the brokers – Different brokers use different trading types and trading styles. For the short term trading or currency pairs, one broker might be great with greater payout but the same broker can be less good for long term trades or for indices. If you find another broker with a greater payout for long term trades then you can open accounts in both of this broker and who offers the best price for you place your trade with them.
  • Multiple demo accounts – Having multiple demo accounts is a good thing because by them you can test multiple trading platforms and can choose the best trading platforms for you.
  • Reduce trading risk – You can get rid of issues of a specific trading firm if you have multiple trading accounts in different brokers. Some issues can be serious which can affect your trades and some issues can be temporary like website down or server problem. If issues appear on a trading platform you can trade by using your other trading account in a different broker. Thus you can reduce your trading risk by using multiple trading accounts.
  • Multiple offers for traders – You can have a new sign up bonus when joining brokers and multiple offers from different brokers. You can have larger deposit bonus by depositing a larger amount and wasting this chance is not a good idea. But remember that you should read the terms and conditions of bonuses before taking any bonuses from the brokers.
  • Spread trade winnings – Some binary options brokers search for the winning traders for limiting the trading size or restricting trades or it can be worse. Thankfully this threat is very small and most of the major brokers do not do that. However it can happen is some brokers and if they search for the winning traders based on total profit instead of strike rate, multiple accounts will help the traders to stay low from their radars by hiding the volumes of their trading accounts.

OTC (Over the Counter) Brokers vs. Exchange Brokers

binary options broker

OTC or Over the Counter Brokers

OTC or Over the Counter is the most common type broker in the binary options industry. Strictly speaking, the term broker does not go with them because they are not acting as a middleman or media what does the broker. They actually act as the counterparty of the traders. When a trader place a trade the OTC broker can be win or lose money and it depends on the win or lose of a trader’s trade. This type of broker is just like another trader who place the opposite trade of the traders.

Sometimes the brokers offer a low payout because of the increasing risk thus they mitigate some risks what they are taking. The payout can be lower than the exchange traded brokers. To reduce the further risk you will also find built-in hedging in some brokers platform. Moreover, if the liability is too large, the one side of a trade might be unavailable in some cases.

With the OTC brokers, binary options simplicity retained. To compete with the exchanges they offering ‘cash out’ prices for binary options, traders can close their trades before expiry times and can set up a new trade to stop their losses. These offers are great and make this type broker more acceptable to the traders.


Exchange Brokers

An exchange broker is just like a traditional broker who act as a middleman or media for placing and executing your trades. They will find out the sellers and buyers of the same assets and for putting the trade they will charge a fee or commission from the traders. The assets prices decided by the market itself if there are multiple sellers than the buyers for an asset. Until the demand for the asset rises the value drift down.

The exchange broker does not mind traders win or lose. Because they have not taken any risks in the trades. They make their money from the commissions or fees. This type of broker has reduced risk and for that reason, they can offer larger payout than the OTC brokers. Their charged fees or commissions would not make an impact to the trader’s payout. In this type of broker, you can close your trades anytime and can stop losses.

But exchange brokers complication is their structure. You can trade between 0 to 100 in an exchange-traded binary options broker. 0 is the figure which indicates the event did not place and 100 where the event place. If the current price of an asset is 30, to win 70 potentially buyers have to take risk 30 times of his trading size. On the other hand, to win 30 a seller would risk 70. This type of trading structure is more complex comparing the OTC brokers option.

Brokers Payment Methods

binary options broker

Most of the licensed binary options brokers have Wire Transfer as well as online payment services and cards like –

  • PayPal
  • Skrill
  • Neteller
  • Paysafecard
  • WebMoney
  • Ukash
  • Amex
  • Bitcoin
  • Visa and Master Cards

Learn in Depth

  • In Which Broker You Can Trade Bitcoin?
  • Free Demo Accounts Details
  • Halal Binary Options Trading and Accounts
  • Binary Options Trading Exchanges
  • Binary Options Bonus Details
  • CFD Binary Options Brokers


You should consider all the above factors what I discuss here with you to choose a best and suitable binary options broker for your binary options trading career if you want to succeed. In short, I want to tell you the key factors what you must have to check before joining a binary options broker and they are:

  • First, select a broker with a huge list of trading assets with the best price
  • Second, check out the bonus offers and their terms and conditions of course
  • Third and most important one, check if the broker is licensed and regulated or not. If not simply avoid it to avoid and minimize your trading risks.

If you can choose the right broker for you trading binary options will be an enjoyable investment tool for you as well as will be profitable too. Choose a broker, apply your trading strategies, trade and make your life prosperous. I think from our recommended binary options broker list you will find the best broker for you. Check our reviews, choose, learn and start trading.


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