10 Best Binary Options Brokers – Comparison & List 2025

We understand how challenging it can be to choose the “best” broker that fits your trading style and goals—especially when you’re new to binary options. Hence, this comprehensive guide aims to provide an expert and data-driven review of the following binary options brokers, helping you determine which is best suited for you as an individual trader.

In this Binary Brokers review, you will learn:

• What makes each broker on this list unique, and what are their key strengths
• Essential facts about each broker that you need to know
• How to choose the most-suited binary options platform for you
• The regulatory landscape around binary options
• The difference between an exchange and an OTC broker
• Common scams to be aware of
• Binary brokers, it would be best if you avoided at all costs

In a snapshot, here are the ten best binary options platforms:

See our full comparison video of our Binary Options Brokers reviews:

Top 10 Binary Options Brokers & Trading Platforms Compared

1. Pocket Option – Our overall top choice for the best binary options broker

Established:	2017
Registered in:	Saint Vincent and the Grenadines
Deposit Requirement:	At least $5 or its equivalent in your local currency
Payout Rate	23% to 92%, depending on the asset.
Maximum payout rate:	Up to 93% – 97%+
Demo Account	Yes, with $50,000 demo capital
Mobile App	Available on both Google Play Store and Apple App Store
OTC Support	Yes
Support Channels	Email, Platform Chat, Phone, Contact Form, Telegram, and Social Media

Our Verdict: As one of the top binary options brokers, Pocket Option excels with its low $5 minimum deposit, a generous $50,000 demo account, and a robust mobile platform for iOS and Android. Its user-friendly interface suits both beginners and seasoned traders. With solid technical tools and educational resources, it is our standout choice in the binary options market, especially for traders looking for proven reliability.

2. Quotex – Provides some of the best free trading signals and advanced charting tools

Key Facts:

Established:	2019(newest)
Registered in:	Saint Kitts and Nevis
Deposit Requirement:	At least $10 or its equivalent in your local currency
Minimum Trade:	As low as $1 per trade
Minimum Withdrawal:	At least $10 per request
Payout Rate:	20% to 93% depending on the asset
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Only available on Google Play Store
OTC Support:	Yes
Support Channels:	Email, Phone, Contact Form, Ticket,  Telegram, and Social Media

Our Verdict: Despite being one of the newer entries in the binary options market, Quotex has quickly earned a spot among the top binary trading platforms. It stands out with its high payout ratios and free trading signals support for both the standard and OTC binary options market. With a feature-rich platform and extensive charting tools, it’s an excellent choice for advanced binary options traders seeking in-depth analysis and strategies.

3. IQ Option – Lowest withdrawal requirement and extensive educational resources

Key Facts

Established:	2013
Registered in:	Cyprus – for clients within the European Economic Area; Saint Vincent and the Grenadines – the rest of the world
Deposit Requirement:	At least $10 or its equivalent in your local currency
Minimum Trade:	As low as $1 per trade
Minimum Withdrawal:	At least $2 per request (the lowest)
Payout Rate:	30% to 85% depending on the asset
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Only available on Google Play Store and Apple App Store
OTC Support:	No OTC support for binary options
Support Channels:	Email, Platform Chat, Phone, Contact Form, and Social Media

Our Verdict: IQ Option excels among binary trading brokers with its low $2 minimum withdrawal and extensive educational resources, making it ideal for beginner traders. It offers numerous video tutorials and guides, covering everything from basic trading to technical analysis. While its trading platform is standard in design, its strong regulatory framework and robust European Economic Area make it one of the legit binary options brother regions in that region.

4. Deriv – Best for automated trading

Key Facts:

Established:	1999 (the oldest)
Registered in:	Malta (for its binary options service)
Deposit Requirement:	At least $5 or its equivalent in your local currency
Minimum Trade:	As low as $1 per trade
Minimum Withdrawal:	At least $10 per request
Payout Rate:	70% to 85%, depending on the asset
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Available on both Google Play Store and Apple App Store
OTC Support:	No OTC support for binary options
Support Channels:	Email, Platform Chat, Help Center, Community Forum, and Social Media

Our Verdict: Starting in 1999, Deriv is by far the most established broker. It sets itself apart in automated trading with its dedicated “Deriv Bot” and offers a remarkably unique platform UI. Moreover, its low minimum deposit makes it accessible to most traders. Overall, with an unmatched history in the binary options market and best-in-class automation tools, Deriv remains a top choice for traders seeking advanced manual and automated functionality.

5. Olymp Trade – Competent Platform

Key Facts:

Established:	2014
Registered in:	Saint Vincent and the Grenadines
Deposit Requirement:	At least $10 or its equivalent in your local currency
Minimum Trade:	As low as $1 per trade
Minimum Withdrawal:	At least $10 per request
Payout Rate:	10% to 85%, depending on the asset
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Available on both Google Play Store and Apple App Store
OTC Support:	Yes
Support Channels:	Platform Chat, Email, Phone, Contact Form, Social Media, Help Center

Our Verdict: Olymp Trade is one of the top binary trading platforms, especially for traders residing in India—thanks to its localized support and relatively good customer service. While its trading platform lacks unique features (compared to its peers on this list), its strong reputation, bolstered by recent industry awards, makes it a dependable choice in the binary options market.

6. Expert Option – Excellent social trading features

Key Facts:

Established:	2014
Registered in:	Saint Vincent and the Grenadines
Deposit Requirement:	At least $10 or its equivalent in your local currency
Minimum Trade:	As low as $1 per trade
Minimum Withdrawal:	At least $10 per request
Payout Rate:	25% to 85%, depending on the asset
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Available on both Google Play Store and Apple App Store
OTC Support:	Yes
Support Channels:	Email, Platform Chat, Phone, Contact Form, and Social Media

Our Verdict: Expert Option is one of the top binary trading platforms known for its outstanding social trading feature, which enables users to track others’ positions in real time. With over a decade in operation, it maintains a strong reputation and offers iOS, macOS, Android, and PC apps. Hence, it’s an excellent choice for traders looking for regulated binary options brokers with unique social trading functionality.

7. BinaryCent – Top broker for copy trading

Key Facts:

Established:	2017
Registered in:	Saint Vincent and the Grenadines
Deposit Requirement:	At least $250 or its equivalent in your local currency (the least affordable on this list)
Minimum Trade:	As low as $0.01 per trade (the lowest)
Minimum Withdrawal:	At least $50 per request (highest on this list)
Payout Rate:	At least 55% to 95%, depending on the asset (highest payout in this list)
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Not available on both Google Play Store and Apple App Store
OTC Support:	Yes
Support Channels:	Platform Chat, Email, Phone, Contact Form, and Social Media

Our Verdict: BinaryCent stands out among binary trading brokers with its exceptionally low minimum trade requirement of just $0.01, making it accessible to traders of all levels. It also offers competitive payouts of up to 95%. Furthermore, BinaryCent’s intuitive copy trading feature makes it a top choice for traders looking to replicate successful strategies from top platform users. 

8. RaceOption – Best brokerage for bonuses

Key Facts:

Established:	2014
Registered in:	Saint Vincent and the Grenadines
Deposit Requirement:	At least $250 or its equivalent in your local currency (the least affordable on this list)
Minimum Trade:	As low as $1 per trade
Minimum Withdrawal:	At least $50 per request (highest on this list)
Payout Rate:	At least 20% to 95%, depending on the asset (highest payout in this list)
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Not available on both Google Play Store and Apple App Store
OTC Support:	Yes
Support Channels:	Live Video Chat, Phone, Contact Form, Email, Social Media

Our Verdict: RaceOption ranks among the top binary options brokers that offer the best payout rates (up to 95%) among its peers. Furthermore, its platform provides an intuitive trade journaling function. While it shares many design elements with other binary options platforms (particularly BinaryCent), RaceOption’s focus on record-keeping and high payouts makes it an excellent choice in this binary options brokers list.

9. Binarium – Best unregulated binary broker

Key Facts:

Established:	2012
Registered in:	Belize
Deposit Requirement:	At least $5 or its equivalent in your local currency
Minimum Trade:	As low as $1 per trade
Minimum Withdrawal:	At least $5 per request (2nd lowest)
Payout Rate:	At least 71% to 93%, depending on the asset (highest payout in this list)
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Only available on Google Play Store
OTC Support:	Yes
Support Channels:	Platform Chat, Email, Phone, Help Center, and Social Media

Our Verdict: Binarium, though unregulated, ranks among the top binary options platforms for its simplicity and ease of use, making it ideal for novice traders. With over a decade in operation and a low $5 withdrawal minimum, it’s a perfect choice for those seeking an uncomplicated trading experience. Additionally, its intuitive interface supports fast learning, earning its spot on this binary options brokers list.

10. Exnova – The best broker for competitive traders

Key Facts:

Established:	2018
Registered in:	Saint Vincent and the Grenadines
Deposit Requirement:	At least $10 or its equivalent in your local currency
Minimum Trade:	As low as $1 per trade
Minimum Withdrawal:	At least $10 per request
Payout Rate:	30% to 90%, depending on the asset
Demo Account:	Yes, with $10,000 demo capital
Mobile App:	Available on both Google Play Store and Apple App Store
OTC Support:	Yes
Support Channels:	Platform Chat, Email, Phone, Help Center, and Social Media

Our Verdict: Exnova is a premier binary options platform tailored for advanced traders. While its interface may seem standard initially, it shines with a wide range of chart analysis tools, customizable widgets, and script integration. These features make it ideal for sophisticated traders looking to leverage advanced strategies. Overall, its comprehensive toolset secures its position among this list’s top binary options brokers.

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How to Choose the Most Appropriate Binary Options Platform

Choosing the best binary options broker that fits your unique trading needs and goals is crucial for beginners and advanced traders. Hence, we advocate also considering these five factors:

1. Regulation – Preferably, the broker is regulated by a reputable financial authority or exchange.
2. Ease of Use – Evaluate how intuitive the broker’s trading platform is. If a particular trading platform looks too complicated, then it probably is.
3. Diverse Asset Selection – Check the tradable assets or asset classes the broker supports. Ensure your preferred asset class is supported.
4. Customer Support – Choose a broker that has reliable and relatively good-rated overall customer support.
5. Trading Tools—Check the availability of technical indicators, risk management tools, and other resources that support your trading strategies and analysis.

See our complete analysis of the most reliable brokers

Link video: https://prnt.sc/W7o9cEBfWEZC

Regulatory Landscape for Binary Options

Compared to other financial securities, the regulatory landscape for binary options remains vague and decentralized. This is because no central agency or overarching regulatory body oversees binary options. Hence, brokers have varying levels of regulatory adherence, with some being regulated by multiple bodies while others have no regulatory oversight. Nevertheless, it’s crucial to understand a broker’s regulatory status, as this provides essential information about the standards it upholds regarding its brokerage functions and the security of your investments.

The following are some of the leading regulatory bodies in the binary options space:

1. The Financial Commission
   – An international independent dispute resolution that is a prominent and widely adopted regulating body among binary option brokers
2. Australia Securities and Investment Commission (ASIC)
   – A government regulatory body that monitors and promotes market integrity and consumer protection in the Australian market.
3. Commodity Futures Trading Commission (CFTC)
   – A highly reputable financial authority and government regulatory body that regulates derivatives (including options) trading in the US.
4. Cyprus Securities and Exchange Commission (CySec)
   – The financial regulatory agency of Cyprus, an EU member state. Hence, it supervises trading activity in both Cyprus and the EU.
5. Financial Conduct Authority (FCA)
   – An independent regulatory body that monitors financial markets activities in the UK.
6. Financial Services Board (FSB)
   – An international body that monitors and pushes recommendations regarding the global financial markets.
7. North American Derivatives Exchange Commission (NADEX);
   – A US exchange for binary options that offers a more secure way to participate in the market.

Top Regulated Brokers

Here are the two top regulated brokers on our list, each conforming to the standards of multiple financial authorities:

1. IQ Option – Regulated by the Financial Commission, the Cyprus Securities and Exchange Commission(CySEC), and adheres to EU regulations for binary options trading. 
2. Deriv – Regulated by the Financial Commission, the Malta Financial Services Authority (MFSA), and the Vanuatu Financial Services Commission (VFSC).

Demo Accounts

Demo accounts allow you to practice trading binary options without risking real money on the platform. Hence, it’s beneficial for beginners to explore and test different strategies and tools, from fundamental technical indicators to advanced risk management tools. 

Best Brokers that offer Demo Accounts:

Here are some of the best brokers with the most beginner-friendly demo accounts:

1. Pocket Option – Offers the highest demo account balance worth $50,000.
2. Expert Option – Offers a realistic demo trading platform that is entirely identical in features to its live trading version.
3. Binarium – Offers the most straightforward demo trading platform. Ideal for total beginners in the binary options space.

Bonuses

Bonuses can be advantageous and beneficial for jumpstarting your actual trading returns. Bonuses are activated when you meet specific criteria, such as depositing a certain amount, using a promo code, or when an option expires (i.e., when the trade expires). You can use the bonus to boost your trading account value and potential returns. Also, having a higher account tier (such as a gold account) can give you more bonuses.

Best Brokers by Bonuses:

Here are some of the brokers that offer the best bonuses available:

1. Olymp Trade – offers up to 100% deposit bonuses and various promotions for new and existing traders.
2. Pocket Option – offers regular promos and bonuses for existing and new traders.
3. Expert Option – offers various deposit and non-deposit bonuses and regular host tournaments.

Minimum Deposit

The minimum deposit requirement is the fixed amount required to start trading options live and incrementally increase your investment on the platform. Hence, for most traders, the lower the minimum deposit, the lower the barrier to trading real money. 

Best binary options brokers with low minimum deposit requirements:

Here are the two brokers that have the most affordable deposit requirements:

1. Pocket Option – Only $5 (US dollar) or its equivalent in your local currency
2. Deriv – Also only $5 (US dollar) or its equivalent in your local currency

Payouts

Payouts represent your potential earnings from a trade that aligns with your prediction. For example, when trading an asset, you have two options: whether the asset will go up or down. If your prediction is correct, you receive the asset’s payout rate. If not, you lose the entire amount invested.

To illustrate, suppose you invested $10 in a Gold binary option with a 90% payout rate, betting the price will increase. If the price increases, you will earn $9 (i.e., $10 investment × 90% payout rate). However, if the price drops, you will lose the entire investment of $10.

Best Binary Brokers by Payouts:

Therefore, brokers that offer assets with higher payout rates have an advantage. Here are the top five brokers in our list that offer the highest payouts:

1. BinaryCent – 55% to up to 95%
2. RaceOption – 20% to up to 95%
3. Binarium – 71% to up to 93%
4. Quotex – 20% to up to 93%
5. Pocket Option – 23% to up to 92%

Payment Methods

Checking the broker’s available payment methods is important for planning how to deposit funds into your trading account and withdraw potential future profits. Most brokers generally support standard payment methods, such as Visa and Mastercard. However, support for local payment methods in your country varies depending on the broker you use.

Payment methods & Binary Options Brokers

Here are the standard payment methods and which brokers support them:

1. Bank Cards (Visa and Mastercard)

All ten brokers mentioned support deposits and withdrawals in USD. However, local currency support varies by country.

2. Internet Banking Facility (through local banks)

All the ten mentioned brokers support deposits in USD and local currency. The withdrawals are converted to the account’s currency (with applicable fees).

3. Local E-wallets

All the ten mentioned brokers support deposits and withdrawals via major local e-wallets in USD and local currency.

4. Crypto Wallets

All the ten mentioned brokers support deposits and withdrawals via major crypto wallets, usually only in USD.

Trading Binary Options on Exchange vs. Over-the-Counter (OTC)

Despite trading the same underlying asset, there is a critical distinction between exchange brokers and OTC brokers:

a. Exchange brokers

Exchange brokers operate on regulated exchanges where trades happen in a transparent and controlled environment. These brokers facilitate binary options trading with various underlying assets (e.g., stocks, currency pairs, or cryptocurrencies) while complying with regulatory standards.

Examples of Top Exchange Brokers:

1. IQ Option
2. Deriv
3. Olymp Trade

b. OTC brokers

In contrast, OTC (Over-the-Counter) brokers operate outside regulated exchanges, offering a more flexible trading environment based on the underlying market (e.g., the stock market, Forex, or the crypto market). These brokers facilitate binary options trading with an underlying asset but lack the regulatory oversight of exchange-based brokers, making them generally more risky.

Examples of Top OTC Brokers:

1. Binarium 
2. BinaryCent
3. RaceOption

 Binary Options Broker Scams

Here are five of the most common scams in the binary options space that have caused countless victims to lose money—in their trading accounts and, worse, even in their accounts:

1. Promise of Guaranteed or Fast Returns – Some brokers use unethical sales tactics, such as promising guaranteed returns or posting ads featuring fake users who claim to make significant amounts of money in a short period.
2. Non-Existing Customer Support—Some brokers do not offer customer support on their listed support channels. Hence, you will be unable to resolve any issues or concerns you may encounter.
3. Manipulated Trading Platforms – Some brokers use ‘synthetic’ platforms that manipulate asset movements against your position, leading to excessive losses regardless of your trading strategy’s effectiveness.
4. Unreasonable Withdrawal Restrictions – Some brokers impose extreme withdrawal restrictions, making it difficult or impossible to withdraw your capital and any profits you make.
5. Fake Operation – Brokers request excessive or unnecessary personal documents and verification steps

Riskiest Binary Options Brokers

Since the binary options space remains relatively unregulated, we recommend avoiding the following brokers due to their questionable operations and conduct:

1. 24Option (100% Scam) – Major withdrawal issues, regulatory troubles, and customer complaints.
2. OptionBit (100% Scam) – Major withdrawal problems, questionable background, and extremely poor customer service.
3. Finpari (100% Scam) – Major legal scrutiny (already red-listed by CFTC) and uses high-pressure sales tactics.
4. OptionRally (High Risk) – Unregulated with significant issues with customer service and prevalent withdrawal difficulties.
5. AstonMarkets (High Risk) – Unregulated and has questionable handling of client funds.

Conclusion: The best binary options broker is Pocket Option!

It’s not easy to conclude that a specific brokerage is the best one to sign up with. Some users like a simple layout, while others prefer having all the data on their screen. In other words, it’s a question of personal taste.

In our comparison, Pocket Option is the best choice for traders! The binary options trading platform is unique and offers many functions for analysis and trading strategies. Deposits and withdrawals work very fast without any fees. Moreover, you can use a free Pocket Option demo account or start with only $10! Compared to other Binary Options brokers, Pocket Option has the highest return on investment!

Nevertheless, trading platforms can vary in terms of quality. Platforms with a simple layout can be more or less easy to use. 

Generally, trusted binary options brokers offering Binary Options and CFDs have a more feature-loaded platform. 

This post highlights the pros and cons of the top brokerages in the industry. Your next step should be to narrow down brokerages and select the one that suits you best. As you saw in our comparison, our choice is Pocket Option!

See the top binary options brokers list here: (check out all reviews)

1. Pocket Option
2. Quotex
3. IQ Option
4. Deriv
5. Expert Option
6. Olymp Trade
7. Binarycent
8. RaceOption
9. Binarium
10. Exnova

Frequently Asked Questions (FAQ):