Binary Options Brokers

Best Binary Options Brokers

(Last updated: January 10, 2017.)

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Stern Options Pending EU-regulation Available – Ask your account manager BinaBot $250 Stern Options
IQ Option EU Free N/A $10

 IQ Option

Nadex US (Not available outside of the US.) Free N/A $250  Nadex
Daweda Exchange EU Free Available $100  Daweda Exchange

Binary option trading lets you generate potentially significant profits from the comfort of your home. The way it works is quite simple. You sign up with a binary options broker (for a list of legit binary brokers, see below) and deposit money. Then, you place trades. If you win a trade, you make around 80% of what you invested. If you lose a trade, you lose your investment amount.

Unlike Forex, in binary options you can never lose more than your investment. Today many signal services are available to allow even complete beginners to trade profitably.

Unfortunately, there are two main dangers in the world of binary options. The first danger involves scam brokers, secondly, there are fraudulent signal services.

  1. Scam binary brokers operate in various ways, such as stealing money, denying withdrawals and manipulating trading data to cause losses.
  2. Fraudulent signal services simply provide bad signals.

If you’re reading this page, you are lucky! Especially if you didn’t yet sign up with any binary options signal service or broker. On this page, I will provide an outline of the safest way to go about binary options trading. I promise that if you follow my guidance, you will be making money in no time!

So let’s start trading binary options!


How to choose a binary options signal service

I would like to start not at the beginning but at the end. As I mentioned, after selecting a broker, you will need to place trades. Of course, you can learn how to become a trader, but this page is oriented toward newbies who are interested in making easy money and not becoming professional traders. So basically, you’re going to need to sign up with a trustworthy signal service. There are a few signal software and paid signal services which are not bad, but if you ask me, your best option is to go with Mike’s manual signals group on Facebook. Why?

  1. First of all, it is free. Not even a broker registration is required so if you already have a broker account, you won’t be expected to open a new one. The donation Mike “requires” is not really a requirement, but a suggestion.
  2. Secondly, signals are provided around the clock, 24 hours per day, 5 days a week.
  3. Educational webinars are available (for an extra charge, paid directly to the signal providers.) These are not at all mandatory and are only recommended for people who are interested to learn how to become traders.

Opening a Facebook account is free and if you’re worried about privacy, you can even open an anonymous FB account.

Now that you have a signal service, all that is left is to sign up with a legit broker. One that will honor your withdrawal requests and that will not manipulate your trading results. To make sure you sign up with a trustworthy broker, you should prefer a broker which is regulated in your country. This way, if you have any problems, you can always contact the regulator or at least warn your account manager that you will file a complaint with the regulator. In reality, regulated binary brokers will usually not risk losing their licenses, which cost a lot of money and take a long time to procure.


How to Choose Binary Brokers

Here’s an easy guide for choosing a binary broker based on your location and other factors. If you’re new to binary options, after signing up with a broker, please contact me via Facebook to receive personal, one-on-one training from me.

I’m in the US and I want to trade on a US-regulated real exchange

Nadex - Binary Brokers

Nadex is only available in the US. Minimum deposit is $250. To learn more about Nadex, check out my Nadex review. (A FREE demo account is available.)


I’m in Australia, Canada, Belgium, France or the US

Many countries do not yet offer regulation for binary options. Finpari would be an excellent choice for anyone who lives in such countries and cannot sign up with a regulated broker. Read my Finpari review. They also offer a demo account and are accessible from anywhere, except the US.

Binary Mate is run by the same people, but the platform is proprietary and provides video chat support. It’s available in all countries, including the US.

Binary Mate
Sign Up with BinaryMate


I’m interested in trading binary options on a real EU-regulated exchange, but I’m not in the US, OR I would like to trade Forex

IG would be your best choice if you’re interested in trading either binary options or Forex. Here’s our IG review.

Daweda Exchange is another option and they also offer a FREE regulated trading robot for those who deposit $250 (the minimum deposit is $100.)

Daweda Exchange
Daweda Exchange is the first to offer regulated auto trading

I would like to start with a FREE demo account or I can not afford a $250 deposit

I suggest that if your location allows, sign up with IQ Option since they offer a FREE demo account before opening and funding a regular account. Minimum deposit $10. For more information about IQ Option, check out our IQ Option review. IQ Option does not provide service in Canada, Australia, USA, Japan, Belgium, France, Russia and a few other countries.

IQ Option - Binary Brokers

If none of the above options are applicable to you, please send me an email (ObjectiveBO@gmail.com) and I’ll find you a solution as soon as possible.

Now that you have decided which broker you would like to register with, please make sure to read the below section on how to deal with binary options. This is very important reading which will protect you from getting scammed, or just sign up for a really bad deal.

Guidelines for Dealing with Binary Options Brokers

Despite a clear direction towards regulation and overall fairness, the binary options trading industry is still a bit of a Wild West. There are scores of unregulated binary options brokers and some of the regulated ones push aggressive sales tactics and bonus deals, designed to make it impossible for traders to cash out. In order to understand why these things happen, you need to understand what sort of business models there are from the brokers’ perspective and what these different business models mean for you, the trader.

Brokers regulated by CySEC, by various European authorities as well as regulatory bodies based on various Caribbean islands, work the single market-maker approach. What this means is that the broker is the only market maker in the equation: the entity making the pricing on all the tradable underlying assets. Essentially, the trader is going up against “the house,” which controls all the variables of the game. The fundamental conflict of interest is obvious here. Furthermore, the unhealthy nature of this setup is also evident in the fact that when they win, traders win money from the broker. When they lose, they lose money to the broker. Brokers simply cannot afford to have too many successful traders, because that will drive them to bankruptcy.

Although currently more or less accepted, this business model isn’t one embraced by the ESMA, the authority over all national EU-based regulators. There are several EU member states the financial authorities of which have embarked on a virtual crusade against what’s known in the industry as the “CySEC” model. For now, the ESMA has come out swinging against the bonus-based promotional model, which is most often quite openly abusive. Not only do the terms associated with the bonuses encourage traders to trade and to deposit more, they may also make it downright impossible for them to earn out the bonuses and thus to cash out.

The mathematically more viable binary option business model is the US one, which is exchange-based. US binary option trading works just like an exchange. Traders trade against each other, which means that they’re the ones who do the pricing, through the time-honored dynamic of supply and demand. US binary options trading is a zero-sum game: whenever a trader wins something, he wins it from another trader. The broker brings traders together and it makes its money off commissions and fees.

In this model, there’s no conflict of interest, and there’s no possibility of abuse pricing-wise. It is indeed a sustainable model, the only one that can ever hope to gain the stamp of approval of US regulatory authorities.

US binary option trading, represented by operators like Nadex and CX (Cantor Exchange), is a range-bound business too. The value of options is always between $0 and $100. They start out somewhere between these two values, set by supply and demand, which is in turn shaped by the odds regarding the possible outcome of the option. As the expiry of the option draws near, its value varies, only to end up worth either $0 (out of the money) or $100 (in the money).

Guidelines for Dealing with Binary Option Brokers

Now that you know everything that truly matters about binary option trading, let’s take a look at what else you should pay attention to, when looking for a broker.

Regulation

Signing up with a regulated broker is always the way to go. While we would love to preach a zero-tolerance policy in this respect, sometimes the best path to success may indeed lead through an unlicensed broker. If you stick to the following guidelines though, you should be OK anyway.

Binary Options Managed Accounts

Managed Accounts are among the nastiest practices the binary option industry currently fosters. One should always steer well clear of them, because by making use of the services of an account manager, one will give up the last semblance of control he/she has over the trading process. One should never lose sight of the fact that the account manager works for the broker, is paid by the broker, and therefore has the best interest of the broker as his/her top priority. As described above, those interests are radically opposed to the traders’. Account managers won’t shy away from various pressure-techniques to get traders to deposit more money and to trade more. In the end though, managed accounts will end up emptied.

The best way to handle trading is to find a good binary options signal service or to just trade on your own. Just tell the pushy account manager that you do not need his/her services and that you want to trade on your own, with the money you’ve already deposited.

Deposits

Sometimes, account managers will push their traders to take up loans and to borrow money from their friends. Never do that. Always only trade with money you can actually afford to lose. Set aside a sum for this purpose and deposit that. Never let anyone strong-arm you into pushing any more in the middle. When starting out, you’re best off sticking with one or two brokers and the minimum required deposits. In order to make do with these minimums, you’ll need to exercise proper capital management. In this respect, never risking more than 5-10% of your balance, is the way to go.

Auto Trading

There are very few legitimate auto traders out there. Even those are semi-automated and are only appropriate for experienced traders, never for newbies. Make sure you properly research any entity offering such services. The vast majority of auto traders out there are nothing but scammers, who peddle software built on a couple of technical indicators and a losing money-management module. Moreover, the marketing tactics used by such shady operators include various wild promises and obviously abusive tactics, punctuated by amateurish acting. Don’t fall for such offers.

Bonuses

You should never accept bonuses. As specified above, almost every one of the bonus deals offered by regulated and unregulated binary options brokers is abusive, aiming to lock up one’s funds and to make it impossible to cash out. Good brokers will always allow their traders to cancel their bonuses at a whim. Better yet: they won’t offer any bonus deals at all, in compliance with the ESMA’s latest demands in this regard.

The Bottom Line

Keep things as simple as possible, regulated if possible and do not allow anyone to “assist” you. If you need help, look to proven 3rd party signal providers. Do not fall for any deals that look too good to be true.

Binary Options Brokers Reviews

Check out our Binary Options Broker Complaints Center, especially if you’ve been scammed and would like to warn others.

Here are the binary options brokers we have reviewed:

24Option

Ayrex

Banc De Binary

Binary Capital Markets

Binary.com

BinaryMate

BinaryOnline

BinaryTilt

Cantor Exchange

CTOption

Dalton Finance

Daweda Exchange

ExpertOption

Finpari

Glenridge Capital

HighLow

IG

IQ Option

MarketsWorld

Nadex

Secured Options

Starling Capital

Stern Options

StockPair

Top Option

TradePlus

Let us know if you want us to review any specific binary options brokers.

If you need to report being scammed or defrauded or just mistreated by a broker, please visit our Broker Complaint center or leave a comment below.

81 thoughts on “Binary Options Brokers”

  1. IQ is a good broker and i would have loved to sign with them but as of 22 April they are no longer accepting traders from Australia/New Zealand

  2. After reading the above info and other stuff think have just been Scammed by the Company Binaryuno and not for a small amount £10,000 to be exact, firstly he gained my confidence by doing a winning first Trade then he encouraged me to invest more and second Trade was done last week, was meant to be an Insured Contract for Silver and he changed it to Gold the following week for a 2 day Trade on Weds and said it was my mistake but would send me out a new Contract or change positions when expired, he did neither and the Trade was lost and has not responded to any direct emails or through so called Customer Support since, presume he has acted either alone or with the consent of his boss, feel stupid that fell for the B/S can anything be done ! Gutted

    1. same happened to me at Ubinary … usd 4500.-
      same trick … first make you some profit the ask for more cash.
      them make you some profit … then ask for more cash.
      … and then … CASH GONE.

    2. Same problem with Ivory Options. Talked me into a couple of Bonuses, of course won the trades but when he wanted me to invest a further $5000 and I said I couldn’t, he will not speak to me. I’m not bothered about the extra money he made for me all I want back is my 2 deposits. BTW apparently with IO if you accept bonuses your threshold for withdrawal, in my case anyway, is $25000 and there is no possibility that that is going to happen. MY ADVICE: STAY CLEAR OF IVORY OPTIONS – Scammers

    3. That happen to me with them as well told me it was all good insured don’t worry can’t lose 45000 gone lost haven’t heard from him since

  3. Hi

    Thank you so much about your review, I just signed up with Binadriod and Binaryroom365 is the assigned broker. Can you please advise if this is a good broker.

    Thank you
    Clyde

  4. Hi i signed up with Binadroid, but to my surprise before i got a reply from them on the way forward, i got a call from Bigoptions brokers asking me to activate my account with them. Is this regular, i thought one is free to choose a broker of their choice

    please assist
    Kevin

  5. Hey, I’m from the US and I signed up with Neo2 but I don’t know about the assigned broker i was given “Starling Capital” because I can find little to no information about them and their customer service reps don’t seem too knowledgeable.. Might be because they may not speak english well but has anyone ever dealt with them or are they safe to us since neo2 assigned them to me?

    1. I too signed up for NEO2 and got Starling Capital who I also don’t trust. They are new and out of Sweden and they want you to deposit $300 instead of $250. I’ve tried to clear my cookies, tried a different browser and even a different computer but same broker. I can’t get to the main NEO2 page to change brokers because a broker page to Starling Capital automatically comes up. My antivirus now won’t even let it load because there’s a gzip in the URL link and I don’t want to keep creating new email account so now I can’t even use the NEO2 software. There’s no way to try and use Nadex until I can get to the main page to change brokers.

      1. I also signed up today about 11:30 and has been experiencing the same problem whole day? We do we get to access the main page? Any idea?

    2. It may be better to pass them by. I was assigned to them from another program. The program I responded to said I would need a minimum of $250 to open the Auto Trading Acct. Starling said I needed $1,000 and then $500. This was not disclosed in the beginning. They also want to do a Managed Account. The representative claimed Starling was based in the UK but the RipOff Report says Stockholm Sweden? Also there are some complaints against them which I do not know if they have been resolved.

      Would you be able to request another more trusted broker?

  6. Hey I try bigoption and titan trade ,titan broker dennis didnt insure the trade and made a trade on oil and oil was on the rising and never received and funds in my account claims its a must win trade then I never heard from that broker dennis again so titan trade seems to be scams what you think mike

  7. Hi,
    Today I signed up with Binadroid and BinaryOnline is the assigned broker. I never heard of it before. Is this a reliable broker ? Thank you on beforehand ! This is a great website !

  8. hi

    i want to sign up with mikes autotraders and the broker assigned is gtoptions.
    are they regulated and legit.
    how good are they as brokers and also with withdrawels.

    regards

    gerhardt

      1. I have had an account with Goptions. They were not ethical with me. Reassigned me to approx 5-6 managers within about 2-3 months. Usually said the previous mgr had been fired. Always talking me into depositing more money plus a bonus. Then dropped me (don’t answer skypes, emails or phone calls) when the money was gone. I recommend you avoid using Goptions. They will probably just take your money and drop you.
        Larry

  9. My assigned broker when I log-in to Mikes AT is GTOptions. I’m a little not confident with it. Is this a good one?

  10. I am looking please for a comment on Max Options, I believe from experience this is a scam – any advice from anyone please ?

  11. i try to register wth copy buffett software, if foll are needed 1/ copy of both sides og cc card 2/ copy of passport 3/ a copy of doicile proof , and where shud i send these , i am here in France at e mail gubevi@orange.fr thk you

  12. I was assigned Option Stars as a broker and have battled with them for over a week refusing to allow them to recruit me and invest large amounts of cash. They have tried almost everything including constantly harassing me with phone calls and e-mails. I have filed complaints and asked that my Neo2 auto trader be enabled but now the account manager is claiming that Neo2 is not working, but he is also trying to recommend his own auto trader with a minimum of $1500 deposit. How do I defeat the broker and get beyond this issue of him telling me my Neo2 is not working? He asked for my “activation” e-mail from Neo2 and I sent him the welcome e-mail with username and pass (despite my every inclination not to).

    HELP! Thanks :)

  13. Hi

    Based in UK I like to try UKoptions broker but NEO2 assigned me to optionbit, not happy how to change pls advise.
    Is it possible to offer a list of your regulated brokers in order to choose.

    Then I signed up with new want to square I was not given any options to choose a broker and I’m finding it difficult to contact me NEO2 and get all my questions answered.

    I am very new to all this. Any help will be most appreciated.

    Comments about UK options are they legit?

  14. Hi,
    I only wish to use the binary options robot when I start trading as I’m not sure if I will understand the manual side of it.
    binadroid is the trader I want to go with but I need a few answers first please.
    How long is the auto trade on for ? Is it 24/7 or just so many hours per day?
    After the initial investment of £250, will I be asked to invest more very quickly or might I have enough profits to continue without investing more?
    After much research over the last 2 months I’m finding this whole trading lark a minefield but I think I am comfortable with binadroid.
    Thank you,

    1. Becarful use only recommend broker and recommended platform if not you could loose your money when sending money use wire transfer and when you have problems getting back your money then fill a claim from your bank with date of deposit and the amount thanks

  15. My first time with binary option. Several brokers called. Most brokers are based in Cyprus, but why were they calling me from Romania and Bulgaria. They are so pushy and sometimes rude.

    Also they have English names and English phone numbers. All this is making me suspicious and doubtful to give me personal and bank details.

    Anybody had similar experience and is it safe to work with them?

    Help and advice appreciated
    Thanks

  16. Ok been reading posts about Starling Capital who was the broker assigned by copy buffet app. They also wanted me to deposit 300.00 and they will not.manually do it without 600.00. Could they be the problem with my copy Buffett not working. If they are not reputable why would copy Buffett assign them to me? I am in the US and need to get my money out and change to another broker or what. They say that I have an account manager, should I have one when using copy Buffett?

  17. I signed up with Mikes Auto Trader. I made the required donation. My assigned broker was Glenridge Capital. Could not sync. Tried Porter Finance, same thing, could not sync. I am frustrated I want either Mikes, or DinaDroid, and use Nadex. Is this possible? (Just lost $40,000 on two trades with Binarybook made by my trusted assistant.) Help! Back to starting with $500.

  18. Hi,
    When i sign up with NEO2 auto trading software than load the Welcome to securedoptions broker account page.
    securedoption is not regulated and legit.
    How you are recomended brokers which proivde withdrawals through wire transfer.
    Best regards

  19. Hey Team,

    I recently signed up with Mike’s Auto Trader and the broker assigned to me was GT Options, from what I have read people are split between saying they are good and some they are a scam. Do you have any thoughts?

  20. Hi Admin,

    Can you please advised how to choose our prefer broker with license while sign up with Neo2.
    Because every time sign up with different email they will assign the broker which is low reputation. can we choose to assign the broker?

    thanks

  21. Hello..thought Neo2 was the answer Micheal Freeman being part of the team .
    Several weeks later I’ve nothing but headaches, my broker is Secure Options not very helpful . The auto mode is not very auto at times , will come on by itself , will not trade when activated manually.In this time frame it’s made all on auto 53 trades,31 ITM ,22 OTM =58.49% a dismal result. I do not believe Neo2 is synced properly with broker,or broker has to much control over trading account ? Either or I wish Management at Neo2 would recognize our concerns since we are still in beta testing mode.They know the brokers assigned ,fix the problems we are having .
    Regards
    William

  22. hello can you tell me , about option888.com broker they are Good? and regulated ? can you please assist .

  23. anybody out there keep away from Binaryuno they are very clever done me over 15000 over a period of 3 months had the account up to 65000 and in 3 trades lost the lot .dont trust them when they tell u that u cant lose as 45000 was all insured an u cant lose bloody liars , sweet talk you dont worry its all safe .dont believe them one bit? and you wont here from the broker from then on ? Very expensive lesson .they get the trade to take 3 to 4 weeks as i would say so you cant recharge them back on the credit card . just like to let people out there know about them i am sure i am not the only one that has been bitten by them.i hope the authorites shut the barstards down .

  24. I signup with CodeFibo and they directed me to Option bit. I did deposit 250 to test drive the software. Two days later, the broker
    want me to deposit more money again. They isn’t any result and want
    to deposit more money, what type is
    this business really run ??? Furthermore until now I haven’t see
    the software ( CodeFibo ) yet !!! Don’t
    say to gain money.

  25. The auto trading button cannot be moved to start the robot. Only volume and strength can be moved.

    After 30 days your fee will be 5 %, correct? Is it only charged on trades made by the auto trading on your platform?

    Regards,
    Jari

  26. Hi Jacob
    A few weeks ago I registered to the Copy Buffett software and get AAOPTION, as a broker unfortunately, a scam one, of course, I did some research.So, I didn’t make a deposit I enter with three differents emails never used before with any software or broker expecting to get another broker I couldn’t make the registration
    I am living in Brazil.Is there a decent broker after making a deposit who leads me to the copy Buffett software is this possible to do this the inversion way

    Kind regards

  27. Hi admin I am from south africa I signed up with codefibo software they redirected me a broker called Tradorax. I can not find any information about the broker. What do you about the broker are they scam?

  28. I tried most of the brokers on your list and I found Finpari to be the best. It’s a Spot Option platform, so it’s very convenient and easy to use, and they let me deposit via Paypal. I don’t know why you’re saying that Binary Mate is better than Finpari. Just because of the video support? Forget about it… Invest with Finpari and you won’t regret it!

  29. Hi,

    I recently opened accounts for Copy Buffet and Code Fibo and they assigned me with “Secured Options” for Copy Buffet and “CFDStocks” for Code Fibo. I am from Mexico.

    What can you tell me about this brokers?

    Thanks in advance

  30. Really useful tips! I wish I read them when I just started trading binary options. It would have saved me so much money…

  31. Please, i have registered with millionaireblueprint and was asigned to a binaryonline broker. I made a deposit of $250. For the past three weeks no profit has been made but the broker keeps pestering me to add more fund. What should i do?? And are they a scam(millionaireblueprint

  32. Hi there, I have been trying to take advantage of codefibo/copy buffett/snapcash/neo2 but they are all directing me to pwrtrade/toroption/optionrobot/binarybrokerz/securedoptions. I have noticed that none of them are under any regulatory body. Could you please advice, if any of them are reliable and okay to proceed with. Thank you for your kind advice.

    1. OptionRobot is a SCAM! The other brokers you mention are not regulated. The reason you are sent to non-regulated brokers is that regulated brokers are not allowed to work with signal software, such as CodeFibo and Copy Buffett. My suggestion is to sign up and make the minimum deposit just to get access to the signals. You can use the account for practice and consider it to be a “paid demo account.” If you’re happy with the signals, you can always use them with your preferred broker, hopefully a regulated one, such as IQ Option.

  33. Bankofoptions.com requires a minimun of $250 but analyst (Jacob Morgan) calls asking for $2000 saying his priority is to those with more money invested. He turns it into $265 before my eyes then disappears into the night. Neither support nor has he responded to my messages since. My dozen requests to withdraw have been denied or ignored. Its really rediculous. Now im left trying to trade on my own. 265 to 245 back to 250 n now 241.5. I feel like even if i got it up to 500..1000..or more they still wouldnt let me withdraw it anyway so am stuck n might as well take it as a loss
    Bank of Options belong to LCG Management Ltd – UK (9833933) is a financial platform that offers several types of binary options

    1. I had a terrible experience with BankofOptions myself. I wanted to trade with Snapcash Binary in Canada and was assigned this company. Instead of being able to trade with Snap I was redirected to BoO after funding. I cannot get back to snap and have been ignored by both companies as far as support is concerned. BoO even did some trading for me and I have $405 waiting for me to withdraw. Of which I tried to take $100 about 6 weeks ago. Yup, still waiting… Stinks!

  34. hi
    i am from dubai ..i like to join mike facebook …..or mike autotrade

    weather iqoption is supported with mike autotrade…..i saw your review…i like this broker …i hope they are very good broker…..
    please give me good suggestion i really like to join….

    remaining signals i do not beleive the brokers all are new to me..

    thanks u
    ashok

  35. What do you know about BinaryBrokerz or dgiMarket.com (i.e. digital globe)? After losing some money with them, they are ignoring my emails.

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