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With all of the binary options brokers out there, deciding where to trade can be as challenging as replacing a flat tire. Some people are good at it, and some are just plain helpless. At any rate, we’re here to help you choose the best binary options broker for your needs.
Here you will find a list of features that traders find important. Choose the heading that best suits what you’re looking for in a binary options broker, and our top choice for that feature will be revealed. Once you view a couple, you then have the choice to trade right away, or read the full binary options broker reviews.
We do strongly suggest reading the reviews of binary options brokers first. Each one has been written by our expert team of writers and fact-checked by our editor. In addition to our broker reviews, you can also read reviews written by our very own members, so you know you’re getting solid advice.
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Binary options brokers, also called a binary options sites, or binary option platforms, are web-based, over-the-counter, real time trading systems that offer investors a way to wager on the short-term price movement of some underlying asset (e.g., stock, commodity, index, currency) by buying binary options on that asset. Online binary options brokers have grown rapidly since 2008. It is estimated that over 190 binary options sites are currently in existence.
The best binary options brokers offer standardized short-term binary options trades with a pre-determined profit/loss that cannot be liquidated (buy or sell to close) prior to expiry. Most online platforms offer binary options on about 70 different asset classes.
To trade on a binary option platform, an investor will only need to choose whether the price of some asset (underlying asset) will be higher (in the case of a call option) or lower (in the case of a put option) at the option’s expiration. Binary options are offered for a time period of 60 minutes or less and are traded until 10 minutes before expiry. Some trade options platforms do offer binary options on longer time period, sometimes days to weeks to months, but they are not very common. The most common is the 60 minute binary option.
Once a trader places a trade, he sets the spot price of the underlying asset as the strike price for the trading option. From that moment on, if the price of the underlying asset increases and closes above the strike price by even as much as 1 pip, the option will expire in the money if the trader did a call option. If the price of the underlying asset decreases and closes below the strike price by even as much as 1 pip, the trade option will expire in the money if the trader did a put option. If the underlying assets haven’t changed at expiry, the trader will receive his/her money back.
Binary option brokers do not charge a direct fee to the investor buying an option. The profit to an investor from an option that expires in the money will usually be between 61% to 85% of the initial investment. In the case that the binary option expires out of the money, the investor will get a rebate of between 0% and 15% on his investment. On most platforms there is a minimum for investment online, some starting as low as $10.
When deciding to choose the best binary option brokers to use, we take the following points into consideration:
On May 3rd, 2012 the Cyprus Securities and Exchange Commission announced a change in policy regarding binary options and classifying them as financial instruments. Binary option platforms operating in Cyprus, where many of them are located, had to be CySEC regulated within 6 months of the announcement. CySEC is the first EU and MiFID-member regulator to treat binary options as financial instruments.
Most online trading platforms require their investors sign a “Terms and Conditions” document before trading, which warns investors (and others) about the risks involved in dealing with binary options. This is very similar to the same agreement investors receive when choosing to open a forex or futures account with many other online brokers.
| Bonus | Min Deposit | Max Returns | Signals | Countries | ||
|---|---|---|---|---|---|---|
 24Option Review | Unlimited | $250 | 89% | Yes | All but USA | |
 OptionBit Review | $500 | $200 | 81% | Unsure | All but USA | |
 OptioNow Review | Negotiable | $250 | 200% | Yes | All but Gibraltar | |
 OptionFair Review | $5000 | $300 | 91% | Unsure | All but USA, Japan, Israel |
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