Last updated:

In 2008 the United States Securities and Exchange Commission made the trading of “binary options” legal.

It was previously only an over-the-counter security, meaning that it could only be done by two people who were face-to-face and in agreement about the risks (you can’t regulate that, after all).

But the risks involved with the security kept it from being available publicly. That meant retail investors could not ask for it, and hedge funds, mutual funds, and stockbrokers could not offer it to anyone.

However, we now live in a revolution of online trading anyone can access any kind of security from their phone.

Table of Contents:

How Do You Trade Binary Options? ๐Ÿ“Š๏ธ

Trading binary options is done through a broker. There are plenty of apps that allow you to trade in binary options, but the crazy thing about today’s trading economy is that you can only get a license for one of these trading apps from a broker. So, even if you want to trade on your own, you need a broker.

Not all brokers are created equal, however. Some brokers charge commission fees on the binary options you trade, some will only let you trade so much per day, and some will charge you for the licenses.

In short, there is a world of difference in quality between each broker. And we have gone over all of them. With that being said, here are the ten best binary options brokers available right now.

Best Binary Options Brokers in the UK ๐Ÿ”๏ธ

Service ProviderCommissions per tradeRating
1. Binary Centยฃ0โ˜…โ˜…โ˜…โ˜…โ˜…Open Account
2. NADEXยฃ0.75โ˜…โ˜…โ˜…โ˜…โ˜…Open Account
3. IQ Optionยฃ0โ˜…โ˜…โ˜…โ˜…โ˜…Open Account
4. Binomoยฃ0โ˜…โ˜…โ˜…โ˜…โ˜…Open Account
5. Pocket Optionยฃ0โ˜…โ˜…โ˜…โ˜…โ˜…Open Account
6. QUOTEXยฃ0โ˜…โ˜…โ˜…โ˜…โ˜…Open Account
7. Race OptionUp to 5%โ˜…โ˜…โ˜…โ˜…โ˜…Open Account
8. Olymp TradeUp to 15%โ˜…โ˜…โ˜…โ˜…โ˜…Open Account
9. ExpertOptionยฃ5โ˜…โ˜…โ˜…โ˜…โ˜…Open Account

1. Binary Cent โ€“ Best Overall Binary Options Broker

The world is slowly but sure adapting to an abundance of cryptocurrencies. Not just their diversity of form, but their ubiquity of function. Where previously they could only be turned into cash at a steep exchange rate, they are being used more and more to buy and convey goods and services.

In an interesting reversal of most economic developments, consumers have gotten access to the use of cryptocurrency before investors have. It is easier to buy gas with your crypto than it is to buy securities.

This has to do with how risky cryptocurrency is. 

It is no riskier than stock, but not every platform allows you to trade stocks for stocks, so it makes sense that they would be careful about the risk of letting one trade a new security for a more stable one. The question is: When does crypto go from security to currency?

Binary Cent has decided that the answer to that question is now. And as such it allows you to pay for your binary options, stocks, and other securities with crypto. Not only that, but it actually incentivizes it.

Normal debit comes with a transfer fee when you withdraw. Cryptocurrency like Bitcoin and Ethereum does not. Even altcoins are supported, though you may have to call customer support for some super obscure coins to be withdrawn properly. This is not ideal, but at least it has some support.

Other Features

Befitting a broker that deals in cryptocurrency, Binary Cent also allows for 24-hour trading. This makes it perfect for someone looking to make passive income through an automated trading bot.

You can even hire a trading coach to guide how you make your transactions if you are new. Obviously this is to cover for a lack of knowledgebase. But it shows that Binary Cent is invested in supporting new traders, even if their tools are unconventional for it. 

One of the best features Binary Cent has is the speed at which is functions. Through stake in various cryptocurrencies, the withdrawals you do from Binary Cent can be completed within the hour.

Drawbacks ๐Ÿ‘Ž๏ธ

Like many platforms focused on binary options, Binary Cent’s biggest issue is that it is new and unbuilt. Its features are focused on barebones trading. There is no knowledgebase or analytics to speak of.

It also does not trade in a huge number of markets. This can be an advantage in some people’s eyes, as it means that you are trading in a smaller, less volatile pool. But most people do not get into binary options under the impression that it is a highly stable market, so this is very much a side attraction.

In short, Binary Cent is a great place to trade cryptocurrency for binary options, and in fact might be one of the only places to do that. But it comes at the cost of many other usually trading platform features.


  • Allows the trade of cryptocurrency
  • High speed
  • Easy to automate


  • Limited markets
  • Limited functionality

2. NADEX โ€“ Best Crypto Integration

NADEX stands for “North American Derivatives Exchange”, meaning that they trade in complex assets just like binary options.

They specialize in these trades, meaning that they have two things:

Access to the apps that trade these securities, and a knowledgebase from which you can learn about these securities.xt element is intended for longform copy that could potentially include multiple paragraphs.

What makes NADEX stand out from all the other brokers is the balance it provides. It is not any one feature, but all the features working dynamically together. For instance, it is not just that it has extremely low commission fees. It also has bonuses for accounts that trade frequently.

And it is also not just that it has a knowledgebase. It also has practice tools like paper trading and free demo accounts that allow you to put that knowledge into practice. Essentially, it has everything that you need to get started, as well as the best prices for going forward, and great scalability after that.

NADEX might be based in North America, but it is perfectly capable of serving those of us across the water. Funds can be provided through both wire transfer and debit card, if you favour convenience. This is not a luxury all binary trading brokers offer. It speaks to NADEX’s priorities. 

While NADEX is America-based, it is clear from the markets it interacts with, the currencies it deals in, and the securities it gives you access to that it has an international interest in mind. 

Other Features

One of the biggest issues you will face with any broker on any app is how clunky everything feels. NADEX is great because it removes the most obvious barriers to using your account to handle your money. 

Deposits and debit card withdrawals are both free, meaning you do not have to think so hard about how you are actually using your money once you have earned it. Basically all commission fees on trades are £0.75. This seems obscenely low, and it is, but there is a reason why it is as low as it is.

NADEX also deals in more than just binary options. The most significant of these is commodities, a rarely explored securities market on modern apps. They also deal in indices and foreign currency.

Perhaps most excitingly, NADEX also provides online events for those who want to connect on a more direct level with other traders.

Drawbacks ๐Ÿ‘Ž๏ธ

We mentioned earlier that NADEX had extremely low commission fees for a reason. This relates to their biggest drawback: NADEX makes its money off of traders using it to make tons of trades. How do they ensure that traders trade a lot? Simple: They close your account if you do not trade enough.

This is harsh by a lot of people’s standards, but it causes less problems than you might think. Traders are given notifications for when their accounts are closed, and your money does not belong to NADEX the moment it closes. But just beware that if you have a NADEX account, you got to use it or lose it.


  • Cheap trading on tons of markets
  • Easy to use and learn from
  • Handles different securities


  • Requires you to keep trading

3. IQ Option โ€“ Best European Broker

It is hard to make deals without being influenced by the United States. The country is such a big influence in the world, and rarely for the best. It can seem like the rest of the world is always suffering from American hedge funds doing something stupid and never profiting from their economic power.

IQ Option is possibly the best brokers for Europeans because so many of the market forces outside of Europe are excluded from their proprietary trading platform. No one fromthe USA, Australia, Canada, Russia, Belgium, Japan, Turkey, Israel, Iran, Sudan, or Syria can open an account with them.

Those are some of the biggest economies in the world. This means that you miss out on a lot of sheer value. But what you lose in value you get back in stability. The issue with the big numbers of American, Russian, or Japanese companies is that they make every bet a big, life-or-death ordeal.

IQ Option does not constrain your transactions to Europe. 

Korea, China, and Vietnam are all strong economies that are represented on the platform, along with other, smaller economies from Asia, the Middle East, and Oceania. Because the biggest players on the stage are omitted, these countries can matter where they would usually be overshadowed.

Other Features

IQ Option allows you to keep up to 95% of your trades. To people uninitiated in the ways of brokers, that might seem like a big cut. To those who have dealt with brokers before, that’s a fortune.

It also allows you to open a free practice account for if you are unsure about investing in such risky securities. Binary options are not the only securities IQ Option trades in either. They also give you access to foreign currency, stocks, ETFs, and CFDs. In short, it is just about every security besides crypto.

Drawbacks ๐Ÿ‘Ž๏ธ

The most obvious drawback is the lack of representation from America, Russia, and the United Arab Emirates on the app. This is its own advantages as well, but many people get into investing in order to capitalize off of those huge markets. 

IQ Option also uses its own app, which some people are going to find untrustworthy. It means your portfolio is not going to be universally transferable. In the end though, IQ Option is above average.


  • Focuses on non-American markets
  • Access to lots of securities
  • Free practice account


  • Has their own app, making skills hard to transfer elsewhere

4. Binomo โ€“ Best VIP Program

Not everyone is looking to be an individual trader going it alone on an app. Some people are looking to start a business with trading. Starting a business means having a scalable strategy that can be accessed and employed by multiple employees. This is not an easy thing to do.

Binomo is a binary options broker that offers users tools to do exactly that. This is not the sole focus of the broker, but they are one of the few brokers that has account options for businesses like that.

But just what are these account options? That lies in the four different types of accounts Binomo offers. They start with a demo account, as many brokers do, and then allow you to trade on a real licensed account with a 15% commission on whatever trades work out in your favor.

After that, however, is when things start to get interesting. Their gold account is achieved after trading enough. It gives you better commission rates, as well as a cash back reward for trading well enough.

And beyond that is their VIP program. This is hard to attain, and you cannot buy your way into it. But once you have a VIP account, you are actually granted the ability to log in from multiple devices at once. This is what allows you to turn your VIP account into a business, as it allows employees to access it.

These employees can have their privileges and operations monitored and managed, meaning you do not have to worry about anyone who works for you betting too high or stealing your information.

Other Features

On top of this, Binomo also has tournaments, a “happy hour” for rapid trading, and trading on weekends. It is a highly advanced and modern trading platform, prioritizing convenience over tradition.

Many other brokers and platforms will try to mimic the real-world stock market as closely as possible, and in doing so make a sub-par brokerage. Binomo feels futuristic in how sleek and easy it handles.


When trading with Binomo, it is not going to take long to notice that it only trades in binary options. This, combined with the fact that there are other, highly competitive VIPs on the platform already, means that you are going to have to work much harder than everyone else to get anywhere on it.

However, if you are willing to put in the world, trading on Binomo can be an incredibly rewarding experience. Just be ready to sink or swim, because competition on the platform is fierce.


  • Different levels of membership allow for scalable investment plans
  • Tournaments, giveaways, and other community events
  • Low commissions and fast withdrawal times


  • Only trades in binary optionsโ€”no other securities

5. Pocket Option โ€“ Best Social Trading

What is the foundation of trust? Is it communication? No, communication can be used to deceive as much as it can be used to enlighten. Is it mutually assured destruction? No, not everyone understands when their destruction is mutually assured.

So, what is it? How do you ensure people act in good faith? The answer is repeated interactions. That is what Pocket Option brings to the table. Its social tools allow traders to communicate, seek each other out, and most importantly keep in contact with one another.

Just by offering these tools up to the user, Pocket Option incentivizes their use. It turns their app into a small town where everyone knows everyone. Reputation suddenly becomes important. If someone screws you over, you can out them to everyone else. And if you are good to someone, people will know.

This is all made easier by Pocket Options’ interface, which puts the people you are trading with at the forefront. That way you never forget who you traded with, and who is good to trade with.

Other Features

Pocket Option’s main secondary feature is its technical analysis tools. These pull information from indices and markets all over Europe to create a clear picture of what the market looks like.

It is hard to overvalue the ability to track the market. Tracking the market is synonymous with seeing the market. Trying to make wise investments when you lack analysis tools is like trying to navigate a cave with no flashlight. These tools can also provide alerts for when certain securities go above certain prices.

Due to the social-focused nature of the app, Pocket Option also features great social media connectivity. That means you are never far away from being able to get a highly personal impression of who you are doing business with. Some people neglect this factor in their trades. Others cannot live without it.

Drawbacks ๐Ÿ‘Ž๏ธ

The first issue you will notice with Pocket Option is that it is spare on features. While it can track a huge number of securities, it can only actually trade binary options. It is also rather new, making its reliability uncertain. Binary options traders are notorious for disappearing, so this can be a big red flag.

But its biggest problem is its ambitious. Pocket Option is not just a trading platform with a social bent. It is trying to be the trading platform that anyone can access from any social media platform. Whether it is Facebook, Google, Linkedin, or whatever. Pocket Options wants to integrate with it.

That means that Pocket Option is still growing. And the problem with things that are still growing in the marketplace is that nothing in the marketplace is certain. Pocket Option might soar, or it might plummet. You can get in on the ground floor of it, but that does not guarantee that it will succeed.


  • Great social tools
  • Analysis tools are well presented
  • Usable on multiple devices


  • New, hard to rely on

6. QUOTEX โ€“ Best New Trader Experience

If you are looking to get into trading for the first time it can be hard to tell where to start. Most brokers and trading platforms make some kind of accommodations for people who are less experienced. After all, that is where the money is. But even with good teaching tools, new traders can feel overwhelmed.

QUOTEX is a broker that seeks to fix this by establishing a clean experience for new users. It starts with registering an account, which will immediately give you access to the broker’s knowledgebase.

But registration is very different than getting a license to trade on their platform. You are not yet thrown into the process of trading. Registration first allows you to explore “demo trading”. This is trading where you are given a simulated stock market and £7,355 of imaginary money to use how you see fit.

Now, this can be skipped if you are an experienced trader who just wants to get to trading on the platform. But this period of knowledgebase-motivated demo trading is great for people who want to learn how trading works before they actually commit time energy, and (most importantly) money to it.

The simulated stock market of demo trading can come in two varieties: One is the kind that reflects the real world, while the other is one that is meant to manufacture certain “scenarios” for you to analyze.

QUOTEX provides these demo markets to help teach you how the principles of trading work in an environment where action and reaction mean something, making it great for learning how to trade.

Other Features

Besides the welcome matt it rolls out for new traders, QUOTEX also offers low commission fees, fast withdrawals, and mobile trading. It connects to dozens of markets all over the world, meaning that you can pick binary options from many different industries. 

This goes well with its teaching tools, as even experienced traders can stand to learn more about the ways specific industries boom and bust. The number of markets it has access to combines with this knowledgebase to make all trading easier and more engaging, as well as potentially profitable.

It also provides an intuitive stock tracking system. Essentially, this means constructing alerts for yourself for when certain stocks reach certain prices. You can also track when those stocks go into “trends”.

The “trends” are circumstances in which a stock increases or decreases by a certain amount within a certain period of time. For instance, you might not be waiting for a stock to drop to a particular price. Instead, you might be waiting for it to drop by a particular amount within a few hours.

Tracking trends means tracking when a stock is booming or busting.

Drawbacks ๐Ÿ‘Ž๏ธ

Sadly, the app is rather limited in terms of what securities you can actually buy. There are no securities beyond stocks, meaning that tracking indices, commodities, and cryptocurrencies are all impossible.


  • Great learning tools
  • Simple interface
  • Advanced tracking tools


  • Not for advanced users
  • Limited types of securities

7. Race Option โ€“ Best Automated Trading

Not everyone likes automated trading. In fact, for a while it was hard to engage with discourse about automated trading because the general attitude around it was so intensely negative.

But as time has gone on automated trading has become a better and better tool, proving that it is here to stay.

Part of the reason people did not like it early on in its history is because it was perceived as a tool of the super-rich. And indeed, that was originally the main demographic of automated traders.

However, as time went the technology developed. Similar to how cars went from an extravagant luxury to a common feature of the middle class, automated trading services have become so easy to make and manage that they went from being a tool for the rich, to a tool for the common consumer trader.

Race Option does not set out to be the best broker for automated trading, but it is the best nonetheless. The reason for this is that it has the features that automated traders need in order to function the best: Namely, the ability to trade even when markets are not open, and high withdrawals processing.

Other Features

The trick to automated trading is not just being able to trade quickly, however. Automated trading also relies on your ability to establish profitable trading parameters for the trading bot that you use.

Race Option helps with that by allowing you to set “trade matching” plans. These plans allow you or your bot to track the trades of other accounts and businesses. That means you can invest in the companies that the biggest companies and wisest investors are putting their money into.

Race Option also allows you to take part in contests. These contests have prize pools in amounts of £14,710. How they work is that you enter by trading. For every trade you do, you get an entry. 

At the end of the contest, the winner is drawn from a raffle. The more you trade, the higher probability it is that you win. This same structure is employed for giveaway contests for things like computers, luxuries, and even some securities.

Drawbacks ๐Ÿ‘Ž๏ธ

The biggest issue with Race Option is that it is a new broker with a small community. This is why they have things like giveaways and contests. It is their way of attracting customers to their platform.

It also does not exactly reinvent the wheel when it comes to its app. Its main appeal is its speed and availability. Due to these things, it outclasses most apps for use as an automated trade platform.

But beyond those, it does not have an expansive knowledgebase or abundance of features.


  • High speed and responsive
  • Contests and giveaways
  • Highly modern


  • Very new, small community
  • Few standout features

8. Olymp Trade โ€“ Best Competitive Trade

In the 80s, the world saw a boom of unregulated trade. The culture that followed was cutthroat and intense.

It was all about getting more, taking it if you had to, and proving your superiority.

While that attitude has been subdued over the years, it never really went away. Hence, you have brokers like Olymp Trade. The key selling point of Olymp trade is how it manages its community.

Most brokers focus on the strength of their communities by emphasizing how easy it is to talk to other traders. It is a matter of having the most people, the most tools, and the most options for trading with all those people. But while the size of Olymp Trade is impressive, it brings something new.

What Does it Offer?

Olymp Trade has tournaments to see how its client base can handle making money over a short amount of time. These tournaments have cash prizes, but their real reward is the community that they foster.

Other brokers have raffles. Tournaments are more a matter of putting one’s userbase against itself, as opposed to a raffle where users will hardly even know the others are there.

A tournament means that there is a metagame, or a “game of the game”. Metagame discussion means that there are people analyzing the system, people’s decisions within that system, and some theoretical answers to the age-old question: How should one invest in order to make the most money?

Get Olymp Trade if you want more than just a money making tool out of your binary options broker.


  • Great community
  • Trade tournaments
  • Easy to use


  • Light on other features
  • Not a huge diversity of securities

9. ExpertOption โ€“ Best Interface

One of the main things that people find holds them back when using a trading app is the interface. This can disrupt your ability to trade even if you do not realize it.

Imagine the trading app you use requires you to always use two hands to input things into it properly.

With an interface like that, suddenly an app on a mobile device cannot be used while you are on a subway train or holding food or drink in the other hand. How does this impact you if your primary method of commute is a train, or your primary time for trading is during your commute or lunch?

ExpertOption is not lighting the world on fire with how it does binary options, but it is providing and interface that makes buying and selling them quick and easy. Naturally, this extends to your ability to use its other features as well, including a sizable knowledgebase and community tools.

All of these are middling. Their advantage is in how user friendly they are. It seems like such a small thing in theory, but it has huge implications; if you can operate an app more quickly, then you stand to make more trades in the time that you use it. Ideally, that means more money.

And even if it does not necessarily mean more money, it does mean a greater access to the tools that will help you make more money. That makes ExpertOption a valid choice for broker.


  • Amazing interface
  • Large, responsive community


  • Not a lot of securities
  • Trades in limited markets

What are Binary Options?

The first thing you need to understand about binary options is that trading them is a zero-sum game. That means that if you win, someone else must lose. And if you lose, someone else wins. But the most important thing about zero-sum games is that if someone else wins, you lose.

“But wait,” you say, “aren’t all three of those statements the same thing?”

Yes, they technically are. But while they might be true in practice, they are not true in theory. Consider the statement, “If someone else loses this game, you win.” In that game, your victory is structured as conditional to someone else’s loss. You do not get anything unless someone else loses.

Alternatively, with the statement, “If you win, someone else loses,” someone else’s defeat is just a side effect of you winning. It makes it sound like the game you are playing is not directly related to the game the other person is playing. Look at binary options this way, and you will not be looking at them for long.

Binary options are not something you can do in a vacuum. If you want to win, someone else has to lose.

How do Binary Options Work?

The way binary options work, and the reason they are zero-sum games, is like this: First, you establish a contract with another trader. The contract identifies a security, as well as a period of time. 

The contract states that if the price of that security is at or above a certain price at the end of that period of time, then the “Buyer” of the contract gets a certain amount of money from the “Seller”. You might notice that the Buyer does not get the security itself. 

No stock, bond, ETF, or other kind of security is changing hands here. It is just an exchange of speculation and money. If it seems a lot like gambling, that is because it basically is.

Conclusion ๐Ÿ’ก๏ธ

There are lots of binary options traders out there, and not all of them can be trusted. These ten brokers are the most trustworthy we could find, but many brokers throw up tons of red flags.

When you begin using a broker, be sure that they have a regulatory body watching over them. Make sure you read their end user license agreement and know where they are based.

In short, don’t hand your money over to someone if you do not know who they are and how to sue them.

The worst-case scenario of a binary options broker is that you deposit money into their brokerage account, and they close down shortly after. Make sure you can hold them accountable.