Trading Binary Options with an unregulated options broker is basically gambling. Learn about licensed and regulated brokers here or select from the menu above.
Many binary option brokers are not regulated, and many brokers are based in tax havens or places like Gibraltar, Isle of Man, Bermuda or Cyprus. This causes many people to assume all binary options are scams. The truth is, not all brokers are scams. Going with a regulated broker is the smart decision!
View the Top 5 Binary Option Brokers for 2013 here.
American Traders will not find a CySEC regulated broker that accepts American traders. MarketOptions is still accepting American traders until they receive their CySEC license, they offer the lowest minimum deposit of any broker, only $100! Unregulated, yet highly popular among traders is GOptions, Redwood, Cedar Finance, GTOptions, Brokerage Capital, OptionsXO, BeeOptions, Optimarkets, TitanTrade, Boss Capital, Regal Option, and RBOptions.
Signal Providers – We have an extensive discussion of binary option signals here. There are three brokers offering trader various types of binary option signals. GOptions provides an auto trader, see here. OptionBit provides an algorithm software called Algobit, see here. Banc De Binary offers broker provided signals, see here.
Demo Accounts – Most brokers do not offer free demo accounts for traders to test their platform. Brokers would rather focus on existing customers than spend time with a non serious trader. There only two brokers offering free demo accounts right now is Marketoptions and PowerOption.
You can read trusted reviews about brokers on Scam Broker. There you will find reviews of legitimate or scam binary option brokers.
Email Your Questions To: Trader@BinaryEX.com
Recently, The Cyprus Securities and Exchange Commission decided to include binary options in the list of financial instruments that fall within the remit of the Investment Services and Activities and Regulated Markets Law. You can find the complete list of investment firms here.
Here is a quote from one Binary Options brokers website.
Like many other instruments that take their value based on the value of an underlying asset, binary options have no centralized exchange on which they’re traded. Brokers sell contracts directly to buyers with no third party involvement, known in the financial world as over-the-counter trading. Since binary options are almost exclusively traded over the internet, this allows brokers to establish themselves in areas with favorable financial regulations. Many brokers, for example, are based in Cyprus which has a low tax rate. Other than local taxation policies, there is little regulation for trading binary options. Their over-the-counter platform and various broker locations work together against the implementation of any real regulations.
It is imperative that someone who is considering trading binary options does their research before giving a broker their money. By simply performing a search and reading reviews for a given broker, a trader can ensure that their money is held securely and responsibly.
This broker is telling you to not open an account with a binary options brokerage firm, unless you verify that they have a good reputation.
Two issues that constantly come up with Binary Option Brokers are:
- Do they allow you to withdraw your profits?
- Are their quotes correct?
For example, If you are placing a bet on the EUR/USD. What price are they quoting? Is it the same price you see on the CME Globex, on IdealPro, FXCM? Each broker makes up their own prices. When trading Binary Options on a stock. Is the broker using their own data? Are they taking quotes from the NYSE, NYMEX and Electronic exchanges or from their own internal system.
When reading reviews it is important to know who is writing the review. You are better off speaking with friends who actually have an account with that broker and have had experience trading real money with them before you decide to open an account.
On June 6th 2013 the SEC put an investor alert regarding binary option scams.
Investor Complaints Relating to Platforms Fraudulent Binary Options Trading. The SEC and CFTC have received numerous complaints of fraud associated with websites that offer an opportunity to buy or trade binary options through Internet-based trading platforms. The complaints fall into at least three categories: refusal to credit customer accounts or reimburse funds to customers; identity theft; and manipulation of software to generate losing trades. Read entire alert on the SEC website here
Our latest check on January 26th 2014, shows over 287 different Binary Option Brokers. See the complete list below. We have not been able to verify that all of them are still operational but the ones with links are actively trading.
|24Option||City Binary||Leverate||Sky Binary|
|60 Options||Currency House||Ligastavok||Smart Dengi|
|777 Binary||Cyber Options||LBinary||Smart Option|
|777 Option||Dragon Options||Magnum Options||SpotFN|
|888 Binary||Dream Option||Master Option||Star Option|
|Admiral Markets||Easy Getter||Market Options||StarfishFX|
|AFX Capital||Easy Invest||MinuteOptions||Start Markets|
|AJ Browder Capital||Easy Option||Naira Bet||Swift Option|
|Alfa Markets||Easy Trade||Novo Markets||Target Options|
|Alfa Options||EBinaires||NRG Binary||TD Options|
|Almishal Trading||Empire||NY Stock Options||Thinks Binary|
|Alpari||EUBinary||One Two Trade||Top Option|
|AnyOption||Europa Trader||OptiMarkets||Trade 7777|
|Apostenabolsa||Exbino||Optima Capital||Titan Trade|
|Avrio||Exciting Markets||Option 365||Trade Quicker|
|Banc De Binary||Ez Binary||Option 4 Trade||Trade Room Bar|
|Banc De Swiss||EZ Trader||Option Ante||TradeRush|
|BB Option||E-Z Option||Option Bit||Tradenet 777|
|Beaned||Five Stars Options||Opteck||Trader DPI|
|Beast Options||FMTrader||Option Game||Trader Easy|
|BeeOptions||FN 168||Option IBC||Trader World|
|Betolimp||FTD Options||Option King||Traders King|
|BF Markets||Futuriti||Option Luck||Traders Leader|
|BFX Option||FXCC||Option Lucky||Traders Room|
|Binar Trade||FXDD||Option NXT||TraderXP|
|Binary 360||FXIM||Option Place||Trading 24/7|
|Binary 88||Geo Tradex||OptionRally||Trado Bank|
|Binary Bank||Get Binary||Option VIP||Trend Option|
|Binary Markets||GFM Trader||Option Web||Twin Option|
|Binary Plus||Global Option||Option World||uBinary|
|Binary Plus One||GMT Options||Option XP||Ultra Markets|
|Binary Pro||GMYT Binary||Option Yard||United Options|
|Binary Tilt||Golden Binary||OptionTime||Vault Options|
|Binary Wall Street||Golden Markets||Options 2 Trade||VIP Binary|
|Binary Winner||Golden Matrix||Options Bravo||VIP Option JP|
|Binex Markets||Goldfinger||Options Express||Vostro Finance|
|Binoa||Go Options||Options Now||We Option|
|Bloombex||Grand Option||OptionsXO||White Trader|
|Bnry||Grow Binary||Option Winner||Winner Options|
|BNRY Options||GTOptions||Oracle Options||Windsor|
|BO Capital||GTF Binary||Parimatch||World Options|
|Bopcije||Hot Options||PowerOption||XL Options|
|Boss Capital||Hyper Binary||Premium Options||XOption|
|Bot 98||iOption||Put n Call||XP Markets|
|Brokerage Capital||I Trader||Qatar||Zenith Options|
|Bridge Binary||IBFX||Rapid Option||Zerich option|
|Capital Option||IH Options||Redwood Options||Zoch Trade|
|Castagna||IKKO Trader||Regal Options||Zoom Trader|
|cBinary||Insta Options||Royal de Bank||Zone Options|
|Cedar Finance||Insync||RB Options|
|Chief Traders||KB Options||Set Option|