How To Compare Brokers And Platforms, Best 10 Binary Brokers

How to Compare Brokers and Platforms. To trade binary options, you need to engage the services of a binary options broker that accepts clients from your country. Here we have looked at our most frequently asked questions and have noted that these are important factors when traders are comparing different brokers:

How to Compare Brokers and Platforms?

1. 1. What is the Minimum Deposit?
  2. Are they regulated, and with what regulator?
  3. Where can I open a Demo Account?
  4. Is there a signals service, and is it free?
  5. Can I trade on my mobile phone, and is there an app?
  6. Is there a Bonus available for new trader accounts? What are the Terms and
    conditions?
  7. Who has the best binary trading platform?
  8. Which broker has the best asset lists?
  9. Which broker has the most extensive range of expiry times (60 seconds, end of the day, long term?
  10. How much is the minimum trade?
  11. What types of options are available? (Touch, Ladder, Boundary, Pairs, etc.)

We cover as many of these comparison factors as possible in our list above but go into much more depth within each review.

Regulated Binary Brokers

Bonus	Min Deposit	Payout	Review	Open Account
Every Month One whole Day of Risk-Free Trading (the client can receive total compensation for the loss taken during one whole day of trading every month) - Almost like a No Deposit Bonus	10$	up to 86%	Review	Visit Broker
50$ Binary Options No Deposit Bonus \| Free Demo Account Without Deposit \| 100% Deposit Bonus \| Weekly Trading Contest - prize fund $20,000	10$	up to 90%	Review	Visit Broker
up to 300% Deposit Bonus \| 10% Cash Back for VIP Accounts \| Investment insurance (For VIP Accounts)	10$	up to 90%	Review	Visit Broker
Free Demo Account Without Deposit \| Risk Free Trades \| Deposit Bonus up tp 300% \| Free Entry to Trading Tournaments (Prizes up to 55.000$ / Tournament)	10$	up to 90%	Review	Visit Broker
50$ CashBack \| Zentrader Rewards Membership Levels (Bronze, Silver, Gold, Diamond) with up to $500+ CashBack	10$	up to 200%	Review	Visit Broker
Trade on a DeFI platform who uses smart contracts to ensure the fairness and security of the game results	3$ to 7$ depends on which deposit method you choose	up to +200%	Review	Visit Broker
500% Deposit Bonus for 10$ Minimum Deposit \| Free Demo Account Without Deposit \| 100% Re-Deposit Bonus \| Weekly Trading Contest - prize fund $20,000	10$	up to 90%	Review	Visit Broker
No Deposit 3$ Risk Free Trade \| Deposit Bonus up to 100% \| Free Entry to Trading Tournaments - 600$ Weekly Contest with Free Entry \| Cash Back	10$	up to 95%	Review	Visit Broker
Free Demo Account Without Deposit \| Free Trading Bots \| Free Trading Academy \| Free or Paid MT5 Trading Signals	5$	up to 200% for Binary Options	Review	Visit Broker
10,000$ Free, No Deposit Binary Options Demo Account \| Free Binary Options Robot	5$	up to 1000%	Review	Visit Broker
100% Deposit Bonus + up to 15% TradeBack (Refund of the trader's losing trades)	10$	up to 90%	Review	Visit Broker
10$ Binary Options No Deposit Bonus \| Free Entry Trading Contests \| Deposit Bonus	5$	up to 95%	Review	Visit Broker
Free Demo Account Without Deposit \| Free Trading Bots \| Free Trading Academy \| Free or Paid MT5 Trading Signals	5$	up to 200% for Binary Options	Review	Visit Broker

Regulation is a crucial factor when judging the best broker. Unregulated brokers are not always scams or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them.
Leading regulatory bodies include:

CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
FCA – Financial Conduct Authority (UK)
CFTC – Commodity Futures Trading Commission (US)
FSB – Financial Services Board (South Africa)

How to Compare Brokers and Platforms There are other regulators besides the above, and in some cases, brokers will be regulated by more than one organization. This is becoming more common in Europe, where binary options are coming under increased scrutiny.

Regulation is there to protect traders, to ensure their money is correctly held, and to give them a path to take in the event of a dispute. It should, therefore, be an essential consideration when choosing a trading partner.

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 the bonus, some terms and conditions need to be read. It is worth taking the time to understand those terms before signing up. If the words are not to your liking, the bonus loses any attraction, and that broker may not be the best choice. Some bonus terms tie in with your initial deposit too. Again, 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.

How to Compare Brokers and Platforms Using a bonus effectively is more complicated than it sounds. If you are considering taking up one of these offers, consider 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.

Demo Accounts

Binary options demo accounts are the best way to try binary options trading and specific brokers without risking money. You can get demo accounts at multiple brokers, try them out, and only deposit real money at the one you find best. It is also possible that it is helpful to have accounts at more than a broker. For example, payouts for two assets might be best for other brokers. You can shop around and use whichever account has the best payout for that asset. Demo accounts offer the best way to try out a brand risk-free.

Low Minimum Deposits. How to Compare Brokers and Platforms?

Low minimum deposit requirements may be interesting if you want to get involved with binary options for the first time. A low minimum deposit broker might be best for traders trying binary options. A small initial deposit keeps risks low. Minimum deposits start at just $5, and many brokers offer low minimum deposits – “low” would be any minimum under $50.

Likewise, all brokers will have a minimum trade requirement too. These can vary greatly. Minimum trade figures range from $1 to $25 – a significant difference if a trader plans to trade frequently. For some traders, this might be less of a factor in finding the best broker, but it will be essential for others.

How to Compare Brokers and Platforms

Payouts

One element many traders use to find the best binary options trading account is the payout percentage on offer. This is not always a simple comparison, however. Payouts will change based on the asset being traded and the option’s expiry time. In addition, payouts will change as the broker manages their own risk. So if one broker was originally the best price, things might revert, meaning that another now has the top payout.

So the most an investor can do is to check the payouts for assets and expiry times they are most likely to make and judge which brand offers the best terms most often. Demo accounts are good when researching payouts on specific assets and trades.

Exchange-traded and over-the-counter brokers will have different payouts and will not be easy to compare. But, in general, exchange-traded options offer superior value. Nadex is one example of an exchange.

How to Compare Brokers and Platforms

So as you can see, finding the best trading account and broker is not always easy – but it is worth noting that you are free to move between brokers whenever you like. So even if a statement is poor, it is easy to up sticks and find a new trading firm. Likewise, a trader could have multiple accounts and open trades at the broker with the best terms for that particular trade.

Which is the Best Binary Trading Platform? How to Compare Brokers and Platforms?

Naming the best trading platform is not easy, simply because trading platforms are usually a question of personal taste. For example, one user might like a simple layout, while others might need a lot of data on screen all the time.

However, platforms have different levels of quality in terms of ease of use and features. For example, brands that offer Contracts for Difference, in addition to binary options, deliver a more feature-rich trading platform.

So the likes of Nadex and ETX Capital will deliver a very professional trading platform. MetaTrader integration is also usually provided by more professional brokers. This difference in quality is evidence of the maturity of binary options as a product, but binary brands will catch up very quickly.

How to Compare Brokers and Platforms

How do Brokers Make Money?

Binary options brokers make money via one of two business models:

As a counter-party, ensuring an ‘over-round’ via payout percentages. Known as ‘Over the counter (OTC)
Via a spread or commission on an exchange-traded model

People with experience with other trading forms and are now approaching over-the-counter (OTC) brokers for the first time may ask themselves: “Where is the commission?“.

With OTC binaries, however, there is no commission. In theory, the term ‘brokers’ is not correct. Binary firms are not arranging a deal or acting as a middleman; they are the counter-party to each of their customers’ positions. So there is no fee or commission for the trade. Instead, each customer is essentially betting against the house. Where brokers have both sides of a work covered, they have a handsome margin. Where they do not, the payout still gives them protection. In certain circumstances, the broker will hedge its position to mitigate risk.

Those companies (Nadex, for instance) that trade binary options via an exchange operate much more like a ‘broker.’ Unlike the OTC market, where the platform is the counter-party, with exchange-traded options, the broker is the middleman – matching buyers with sellers and charging a commission. As a result, the broker has far less risk involved and, therefore, generally better returns per trade for the trader.

Who Regulates Binary Options Brokers?

How to Compare Brokers and Platforms Several regulatory bodies monitor binary options:

CySec – The Cyprus Securities and Exchange Commission
MGA – Malta Gaming Authority
FCA – Financial Conduct Authority
CFTC – Commodity Futures Trading Commission

CySec regulation can be used in Europe for the ‘passport’ around Europe. So a CySec-regulated firm can operate in the UK, Germany, or Spain; there are, however, moves for domestic regulators in each country to take greater control of their affairs.

How to Compare Brokers and Platforms?

Around the globe, regulation is usually organized within a specific country, so CFTC in the US or the FSB (Financial Service Board) in South Africa, for example. This offers consumers the best level of protection.

Regulators are now taking a much harder line on binary options firms that break financial rules or operate dishonest schemes. As a result, the landscape will change quickly over the coming months, and the industry will be treated similarly to other investments.

How to Compare Brokers and Platforms

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