Top 5 Binary Options apps compared + App selection guide

If you’re wondering, “can you trade binary options on phone?” the answer is yes. However, not every broker offers mobile apps and different brokers design apps with unique goals in mind.

Some brokerages offer high-quality binary options trading apps that are easy to use. Other brokerages focus on providing that is loaded with the most features.

There is no shortage of quality binary options brokerages in the industry. However, finding a brokerage that offers a refined trading application can be challenging.

To draw a fair comparison between the apps, you will need to shortlist the top contenders, download every application, and compare their features.

Lucky for you, you found our post. We’ve saved you the trouble and reviewed the five best binary options trading applications available in the industry. With our selection guide and comparison, you will have found the right application to trade binaries by the end of this post.

General Risk Warning

The products listed in this post carry high levels of risk and can lead to loss of funds.

Which Binary Trading app Is the best?

#1 IQ Option

IQ option offers CFDs, forex, binary option, and cryptocurrency trading. The broad gamut of markets makes it among the most impressive binary options brokers for traders of all skill levels.

The brokerage steadily broadened its userbase since it was founded in 2013 and now stands out as one of the market’s leading binary options brokers. With over 48 million registered users, the company facilitates over 1 million transactions every day. 

It is available to traders in 213 countries, including India, Malaysia, South Africa, and Singapore. However, the broker is not available to traders in the US and EEA. 

Unlike many other brokerages, IQ Option offers a proprietary interface that features a modern, no-nonsense design. 

The platform equips traders with tools such as multi-chart layouts, historical quotes, market updates and alerts, economic calendars, and more. In addition, widgets on the platform can help traders make quick decisions. The interface is available in 13 languages. 

Further, the broker also has an Investors Compensation Fund. It provides IQ Option protection if it cannot fulfill financial obligations. Traders on the platform are hence protected up to €20,000 in the event of security breaches. The broker offers traders up to 90% payout on winning trades.

The platform’s features make it possible for traders of all skill levels to make quick yet informed trades without much hassle.

Features such as the news feed and community chat make the platform attractive, and since several regulatory authorities oversee it, it’s the go-to option for many traders.

Mobile app review

While the browser version of the platform is impressive on its own, the seamless mobile user experience sets IQ Option apart from many other brokers. The trading area is unchanged in the mobile apps, and the platform comes with buttons that match the look and feel of the website. 

The company also provides an application for Windows computers with the same seamless interface as the browser version.

The IQ Option app is available on both Google Play Store and the App Store on iOS. Taking on from the full website version, the mobile app provides the same neat and intuitive interface. 

Further, it provides traders with all the same tools as the website, making for unhindered trading on the go.

The best thing about the mobile applications is that they boast a native design. The Android app is written to work flawlessly on Android phones, and the iOS app is tailored to run smoothly on iOS. 

Natively designed applications rarely lag or crash. The IQ Option app will rarely if ever, give you trouble when you’re trying to place a trade order.

What’s more, IQ Option swiftly updated its iOS application to meet Apple’s new requirements from binary options trading apps. The move shows the broker’s commitment to upkeeping the high standards it has set. 

Pros

  • 15 technical indicators for spotting trends
  • Five charting tools
  • Two account types
  • Free demo account
  • CFDs also available

Cons

  • Unavailable to US traders
  • High leverages not available to non-professional traders
  • Fixed spread accounts

#2 Pocket Option

Pocket Option is known as one of the most reliable brokers for binary options traders. It was established fairly recently in 2017 but has garnered a base of over 20,000 daily users. The broker is available to traders in 95 countries, including the EEA, USA, and Canada.

The regulatory oversight of the IFMRRC leaves no reason to worry about the broker’s trustworthiness. The platform offers over 130 tradable assets, including those from forex, indices, stocks, commodities, and cryptocurrency markets.

Pocket Option stands out from the competition by offering MetaTrader 4 and 5 applications for traders on desktops. The commercial applications are accessible as browser and desktop apps. MT4 and MT5 come loaded with several technical indicators and all the charting tools a professional may need.

Traders can use the API to program automated trades, make a signals bot, or use the copy trading features Pocket Option offers. It also makes a specialized trading keyboard available to traders.

Pocket Option also offers a simpler web-based interface that makes it easy for new binary options traders to approach trading. 

However, this platform does not have features like price alerts and does not offer two-factor authentication without Google Authenticator or its alternatives.

The basic trade types and a reasonable range of expiry times make Pocket Option suitable for both novice and seasoned traders. The availability of the 30-second expiry time allows traders to explore the potential of quick trading. Traders get between 80% and 100% payouts on winning trades, and sometimes more.

The excellent social trading, tournaments, and achievement features, coupled with its compliance with the Anti-Money Laundering Policy, make it an ideal option for traders looking for a reliable, feature-rich brokerage. 

Mobile app review

Pocket Option’s Android and iOS apps are based on MetaTrader 4. As a result, the apps feature all the tools available on the desktop and web versions of the platform.

All five trading orders are available on the mobile apps, and the app also features the same technical and charting tools as its desktop counterparts. 

While the interface is essentially a shrunk-down copy of its counterparts, the large buttons and simple user experience often make it easier to use than the other versions.

Furthermore, the mobile platform enables the applications to provide trading alerts and market updates as dedicated notifications. Pocket Option’s apps are available in several languages, making them easier to use for traders worldwide.

However, mobile apps have some limitations. Your account is protected by only one authentication method – your ID and password – on the apps. The broker has yet to provide two-factor authentication features on the applications.

This also means that traders cannot use facial or fingerprint recognition to secure their accounts. 

On the plus side, the application is free and easy to use, making it a great choice in an app niche where good apps are few and far between.

Pros

  • Over 100 financial instruments
  • Available to US traders
  • No commissions
  • Custom technical indicators 
  • App available in several languages 

Cons

  • Dated interface design 
  • $1000 deposit required for using MetaTrader 5

#3 Quotex.io

Quotex.io is one of the newer brokers in the market. The company was licensed in November 2020; however, its robust feature set attracted thousands of traders from the world over in a short period.

The brokerage is owned by Seychelles-based Awesomo Ltd. and is under the regulatory oversight of the IFMRRC. Quotex.io accepts traders from the US, Canada, and Hong Kong. However, payment options in these countries are limited to cryptocurrency. 

The broker offers its traders deposit bonuses depending on the deposit amounts. Traders get a 20%, 25%, 30%, and 35% bonus when they deposit upwards of $50, $100, $150, and $300, respectively. Utilizing this offer can boost trading capital.

The offer above is one of the many promotions the broker offers to traders. You can expect perks like reduced risk and cashback regularly. In addition, active traders are awarded promo codes that they can use for discounts across the firm. 

Its trading platform boasts a feature-loaded interface that is suitable for professional traders. You can use the platform from your browser – no downloads are required.

One of the best things about the interface is that features are organized for convenient access. You will never have trouble finding an option, which makes quick trading much less of a hassle. 

Additionally, the diverse set of expiry durations ranging from one minute to months make it suitable for traders having any trading style.

With over 410 assets for digital options, 27 forex assets, 15 indices, and several cryptocurrencies and commodities, Quotex.io offers the largest asset variety of all brokers.

Mobile app review

Quotex.io leaves a huge chunk of the market untouched since it only offers an app on the Android platform. Nonetheless, traders can access the web version of the platform from the web browser on any phone.

This allows Quotex.io users to execute and track their traders from anywhere, at any time. 

The platform comes with an integrated signal provider that boasts an accuracy rate of 87%. As a result, you can use the signals to create strategies and make money in markets with which you don’t have much experience. 

One of the best things about Quotex.io’s platform is the highly responsive chart. You never have to worry about losing out on trading opportunities due to a slow platform. 

The ordering screens are available on the right side of the chart, which makes placing orders and tracking trades easy. Furthermore, the chart is highly customizable, ensuring that every trader gets the convenience they want out of the platform.

The several trade indicators on the platform enable you to fund your trading account with ease. In addition, each of the indicators on the platform can be personalized and fine-tuned for optimal use.

Small conveniences like getting access to market news on your live account make the Quotex.io mobile app a viable option for many traders.

Pros

  • No commissions
  • Copy trading features
  • Weekend trading
  • Zero withdrawal fees
  • Free demo account

Cons

  • Broker does not offer leverage
  • App only available on Android
  • Limited payment methods in some countries

#4 Binomo

With over 880,000 daily users, Binomo has established itself as one of the leading binary options brokerages in the industry. It serves traders in 133 countries, including Brazil, Turkey, and India. 

The broker was founded in 2014 by Dolphin Corp, established in St. Vincent and the Grenadines. Binomo is among the most regulated brokerages in the industry. It has been regulated by the IFC and has been a category A member of the regulator since 2018. 

It is also an FMMC-certified brokerage and is regularly audited by VerifyMyTrade. Additionally, Binomo is undergoing the process of getting a trading license from CySEC. The additional regulation will make Binomo an attractive option for more international traders.

The stringent regulation, independent certification, and regular third-party audits are a testament to the broker’s commitment to quality service.

But perhaps the best thing about Binomo is that it offers every trader financial protection up to €20,000 in the event of a security breach. This indicates that Binomo values its customer’s resources and goes the extra mile to ensure the safety of its traders.

The proprietary trading platform uses the SSL protocol to ensure that trader data is always encrypted. As a result, your bank information, personal data, and funds remain safe during withdrawals and deposits. 

Furthermore, the platform has 20 unique hotkeys that you can use to trade faster.

Binomo does not provide a wide range of trade types. You can only make standard call/put trades and shortened turbo trades on the platform. While these trade types make it easy for traders to make trading decisions, seasoned traders may find that the lack of trade types limits their trading.

However, Binomo offers non-stop trading, which is a feature not many brokerages provide. You can trade in the night or on the weekends without restrictions, making Binomo an excellent option for casual and professional traders alike.

Mobile app review

The Binomo trading app is available to download on both Android and iOS phones. It is one of the most impressive binary options trading apps, offering over 20 charting tools. 

You can set the application to alert you about market trends and order updates. The app comes with economic calendars, and you can use independent tabs with these charts. You will also receive promotional information and transaction details as push notifications on your phone.

It is important to note that the mobile apps do not have all the features the browser version of the platform does. So if you’re looking to do an in-depth analysis of markets and positions on the move, the Binomo app is not suitable for you. 

That said, you will find all of the essential features you need on the app. There are many scalable features on the platform, and the app enables you to trade in one click without any confirmation. 

In addition, the app boasts a chart with a quick refresh rate, enabling you to seize profit opportunities right as they appear.

The theme of the mobile apps is designed to match the browser platform. This makes switching from your desktop to your phone a cohesive experience.

Overall, if you’re looking for an easy-to-use app that doesn’t complicate binary options trading, the Binomo app is the right one to get.

Pros

  • Weekend trading available
  • Up to 90% payout
  • Tournaments with cash prizes
  • Robust demo account

Cons

  • No social trading features
  • Broker does not offer trading signals 
  • Not available for traders in the US and EEA

#5 Expert Option

Like Binomo, Expert Option was also founded in 2014. Over the years, the broker has garnered a massive user base of 13 million traders globally. The brokerage has over 100 account managers for handling clients and offers over 100 tradeable assets. 

Traders can trade binaries on currencies, stocks, commodities, and cryptocurrencies on the platform. The VFSC regulates the brokerage since the company is established in Port Vila, Vanuatu.

The broker offers several features that set it apart from other well-known brokerages. Its excellent social trading features allow traders to connect with friends and follow the top traders on the platform. You can see what assets another trader is trading on which markets and how much profit they’re making.

The several technical analysis tools, four chart types, eight indicators, and several trend lines enable you to make sensible trading decisions. 

The daily market analysis will keep you in the loop about every market’s movement.

If you’re new to trading binaries, Expert Option offers a plethora of educational resources that you can use to learn to trade.  

Another impressive feature of the platform is the trading signals it offers. Traders that sign up with Expert Option receive a steady supply of trading signals that can help you turn a quick profit.

Expert Option indicates the strength of the signal it supplies. You will receive “Strong Buy,” “Buy,” “Neutral,” and “Strong Sell” and “Sell” alerts that you can utilize to make profits.

Mobile app review

Expert Option makes it easy for you to trade online with the web browser version of the platform. You do not have to download any software to trade. 

However, the trading platform is also accessible via desktop and mobile apps. You can install the Expert Option trading app on Android and iOS phones and Macs and Windows computers.

The proprietary platform provides near-instantaneous execution of trades and offers accurate price feeds. These are only a few of the many advantages that come with a proprietary platform. 

The biggest focus of the interface across devices is the graph in the center. However, you have the flexibility of customizing the chart layout as you see fit. One of the many ways you can customize the layout is by splitting the chart to show two markets simultaneously.

The mobile apps feature the same indicators, chart types, and other trading tools as the desktop and browser versions of the platform. So if you want a binary options trading app that offers a no-compromise trading experience, the Expert Option app will not fail to impress you.

Pros

  • Up to 95% payout
  • Free demo account
  • Hundreds of assets
  • Available in 15 languages

Cons

  • Not available in the US and EEA
  • Complicated first-time withdrawals

How to pick the right mobile app

There are some significant differences between the apps of the top five brokerages in the industry. These differences can make it challenging to find a trading app that meets all the trading needs you want to be met.

Learning about the factors that can make a difference in your trading experience can help you make a clear decision and find the right app.

Here is a list of things you must consider before choosing a binary options trading app:

#1 Compatibility

By convention, binary options brokerages enable traders to use their platform via their web browsers. While there are brokers that have apps for mobile phones, you must ensure that the application is available on your phone’s OS.

Some brokers offer apps on only the Google Play Store. Other brokers only have an app for traders using iPhones.

The majority of brokerages that offer mobile apps offer them on both operating systems. That said, doing your due diligence and ensuring app availability is crucial before signing up.

#2 Security

Having funds in a trading account that you’re not sure is secure can take away your peace of mind. On the other hand, if you know that your trading app is secure, you won’t have to think twice when trading from your phone.

One of the best ways to ensure that your funds are safe is to sign up with a broker that is a member of the SIPC. The non-profit organization protects investor funds, compensating traders if the brokerage isn’t financially capable after a security breach. 

Besides checking for a SIPC membership, look for two-factor authentication and encryption algorithms. These are some effective security measures that have become commonplace in the industry.

#3 Available Assets

Access to a high number of assets gives you more opportunities to make winning trades. Different brokers offer a different number of assets, and some brokers only offer assets from specific markets. Having access to more markets allows you to diversify your portfolio and manage risk.

In addition to ensuring that the broker offers assets in the markets you usually trade-in, you must also ensure the broker offers the trade types you use.

Every broker offers call and put options. However, you may be interested in using other trade types such as one- and two-touch options.

#4 Demo Account

One of the biggest selling points of mobile trading applications is the availability of a demo account. 

If your trading app has a demo account, you will be able to test out and practice trading strategies when you’re on the move. Trading in the live market will give you the exposure you need to make more money. 

With a demo account, you will be able to trade in live markets without having to spend a dollar. Most brokers give you thousands of dollars in dummy money to partake in live markets.

Using a mobile application that makes it easy to switch between real and demo accounts can help make quick profits.

#5 Notifications

Another big advantage of mobile applications is that the best ones send you notifications to alert you of changes in market conditions and the execution of trades.

Using a mobile app that gives you extensive control over alerts can enable you to make profitable trades throughout the day.

IQ OptionPocket OptionQuotex.ioBinomoExpert Option
CompatibilityAndroid, iOSAndroid, iOSAndroidAndroid, iOSAndroid, iOS
SecurityProtection up to €20,000No SIPC membershipNo SIPC membershipProtection up to €20,000No SIPC membership
Assets90+130+400+30+100+
Demo AccountYesYesYesYesYes
NotificationsYesYesYesYesYes

Conclusion: Which Binary Options app should you use?

Making money trading binary options on the move does not need to be a pipedream. Now that you’re acquainted with the best binary options trading apps, you can use our guide and comparison to find the right app quickly.

While every app on our list offers a unique set of perks, the IQ Option app has the most balanced feature set of them all. With 90+ assets offered, SIPC investor protection, and app availability on all platforms, it stands out as the go-to app for traders of all skill levels.

If you want to trade binaries on a broader range of assets, you can consider making an account with Quotex.io. 

It is essential that you bear your needs and preferences in mind when picking a binary options trading app. What’s right for one trader isn’t always right for another. 

All that’s left to do is downloading the app you like the most and sign up so you can get started with trading binary options.

About the author

Blogger at www.willascherrybomb.de Copywriter website: www.yvonnes-schreiberei.de

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