There are many Binary Options Trading Apps available. However, you can’t trust every Binary Options Trading Broker. There’s a wide range of fake and fraudulent Binary Trading apps that can steal your money.
Below, I will list the Binary Options Trading Apps you can trust, so let’s jump right in.
List of The Best Binary Options Trading Apps
Below we list the top Binary Options Trading Apps based on our research and analysis. Here is our list of the best.
- Pocket Option – Best Binary Options Trading App Overall
- Expert Option – Great Binary Options Apps for Beginners
- IQ Option – Binary Options App for Digital Options
- NADEX – Best Binary Options Trading App USA
- Quotex – Great Binary Options App for Charting
- Olymp Trade – Great Binary Trading App
- VideForex – Copy Binary Options Trading App
- IQcent – Low Minimum Deposit Binary Trading App
- Binary.com – Binary Options App With a Long Reputation
- RaceOption
- Binomo
- Deriv
Top Rated Binary Options Trading Apps Reviewed
Below we go into the best apps for Binary Options in more detail.
PFI Rating: 4.9/5
1. Pocket Option
Pocket Option is a Binary Options Trading App with many trading instruments and features, including charting tools, market analysis, and social trading.
Pocket Option makes an excellent option for novice traders because it’s trustworthy, offers a demo account, and requires a minimum deposit of only $50.
- Minimum Deposit: $50
- Demo Account: Yes
PFI Rating: 4.9/5
2. Expert Option
ExpertOption is a great binary options trading app for newbies because of the graph in the middle of the app’s homepage.
The graph displays the price of your asset in real-time. Moreover, you can quickly check the previous price of your investment by hovering your finger over it.
Moreover, ExpertOption allows dividing the chart layouts if you want to observe two markets simultaneously. You can trade many assets, including cryptocurrencies, stocks, commodities, currency pairs, etc.
Pocket Option makes an excellent option for novice traders because it’s trustworthy, offers a demo account, and requires a minimum deposit of only $50.
- Minimum Deposit: $10
- Demo Account: Yes
The minimum trade on the ExpertOption app is $1.
You can choose from different account types, but their Micro account makes the best choice for beginners because of the minimum deposit of only $10.
Expert Option accepts different payment methods, including Skrill, Visa, MasterCard, etc.
Therefore, if you’re new to binary options trading, consider the Macro account. This app is available on iPhone, Windows, macOS, Android, etc.
PFI Rating: 4.9/5
3. IQ Option
IQ Option is a trading platform with plenty of financial instruments, including binary options, Forex, and CFDs (Contracts for Difference).
If you pick this online platform, you will enjoy the simple, user-friendly interface and a wide selection of advanced tools and features for making well-informed decisions.
- Minimum Deposit: $10
- Demo Account: Yes
PFI Rating: 4.9/5
4. NADEX
The well-known Nadex (North American Derivatives Exchange) is a US-based online derivatives exchange that specializes in offering binary options and spreads.
It’s regulated by the US Commodity Futures Trading Commission (CFTC).
Moreover, it’s one of the few exchanges worldwide that allows retail traders to trade in a transparent, fair, and regulated environment.
- Minimum Deposit: $250
- Demo Account: Yes
Nadex provides a platform for trading Forex, stock indices, commodities, and events. It also offers a unique risk management system that limits potential losses.
PFI Rating: 4.8/5
5. Quotex
Quotex is a trading platform for Forex, commodities, stocks, and cryptocurrencies.
Quotex offers a demo trading account, educational resources, and great 24/7 customer support. It’s owned and operated by Quotex Global Ltd, a company incorporated in St. Vincent and the Grenadines.
- Minimum Deposit: $10
- Demo Account: Yes
PFI Rating: 4.8/5
6. Olymp Trade
OlympTrade is one of the best online platforms for binary options and forex trading.
Like the rest of the apps in this article, OlympTrade offers a demo trading account, 24/7 customer support, and helpful information for beginners.
- Minimum Deposit: $10
- Demo Account: Yes
PFI Rating: 4.6/5
7. VideForex
VideForex is a popular online trading platform with many financial tools, such as binary options, Forex, and CFDs (Contracts for Difference).
VideForex makes a great choice for newbies because of the user-friendly interface and different tools, such as charting tools, informational resources, and market analysis.
- Minimum Deposit: $50
- Demo Account: Yes
PFI Rating: 3.6/5
8. IQ Cent
IQcent is a trading platform that offers many financial instruments, including binary options, Forex, and CFDs (Contracts for Difference).
IQcent is popular among beginners because of the minimum deposit of $10. Moreover, you will get a user-friendly interface and different tools and features, including charting tools, market analysis, educational resources, etc.
- Minimum Deposit: $10
- Demo Account: Yes
PFI Rating: 4.6/5
9. Binary.com
Binary.com is one of the most popular platforms with binary options trading and other financial instruments, including Forex and Contracts for Difference (CFDs).
The best part? This trading platform requires a minimum deposit of only $5, so it’s ideal for investors with a limited budget.
You can trust this company because it’s been operating since 1999 and is regulated by the Malta Financial Services Authority (MFSA).
- Minimum Deposit: $5
- Demo Account: Yes
PFI Rating: 3.6/5
10. RaceOption
RaceOption is a trading platform that offers a wide selection of financial instruments for trading, including binary options, Forex, and CFDs (Contracts for Difference).
The platform has a user-friendly interface and various tools and features to help traders make informed decisions, including market analysis, charting tools, and social trading.
- Minimum Deposit: $250
- Demo Account: Yes
PFI Rating: 3.8/5
11. Binomo
Binomo is a binary options trading platform that offers a range of financial instruments for trading and provides access to a demo trading account, educational resources, and 24/7 customer support.
Therefore, it’s perfect for new investors. Moreover, the minimum deposit is only $10, so it’s great for new investors with a limited budget.
- Minimum Deposit: $10
- Demo Account: Yes
PFI Rating: 4.6/5
12. Deriv
Deriv is another trading platform that offers a range of financial instruments for trading, including binary options, Forex, and CFDs (contracts for difference).
If you choose Deriv, you will get a demo trading account, educational resources, and 24/7 customer support. Also, the minimum deposit is $5, so it’s suitable for newbies.
Deriv is owned and operated by DERIV (DM) Ltd, a derivatives.com Group Limited subsidiary holding company.
- Minimum Deposit: $5
- Demo Account: Yes
How to Choose the Right Binary Options Trading App?
To choose the right binary options trading app, consider the following factors:
- Regulation: Ensure the app is regulated by a reputable financial authority to ensure the safety of your funds.
- User reviews: Check the app’s reputation by reading user reviews and ratings.
- Asset types: Ensure the app offers the assets you’re interested in trading.
- Trade types: Ensure the app provides the trade types you prefer (e.g., high/low, one touch, etc.).
- Payouts: Compare the payouts offered by different apps to ensure you get the best returns.
- Trading platform: Ensure the app’s trading platform is user-friendly and provides real-time market data.
- Customer support: Ensure the binary options app provides good customer support and has a responsive help desk.
- Mobile compatibility: Check if the binary options app is compatible with your mobile device and has a user-friendly mobile interface.
Benefits of Using Binary Options Trading Apps
Using binary options trading apps has plenty of benefits, especially for beginners. These apps allow you to invest on the move and more. Here’s a summary of the advantages of using a trusted binary options trading app.
- Convenient access to the markets: You can trade from anywhere at any time.
- User-friendly interface: Easy to use for both new and experienced traders.
- Real-time market data: Stay up-to-date with live market prices.
- Quick and easy execution: Execute trades quickly and easily.
- Different types of assets: Trade a wide range of assets, including Forex, stocks, commodities, and more.
- Low initial investment: Start trading with a small amount of money.
- Versatility: Allows for both short-term and long-term investments.
- Increased control: Have complete control over your trades.
- Potentially high returns: Binary options can offer high returns on investment.
Downsides of Using Binary Options Trading Apps
Trading binary options isn’t a walk in the park. On the contrary, it’s a high-risk way of making money, so using binary options trading apps comes with a few risks, such as the following:
- Limited control: Your potential profits are limited, as are your possible losses.
- Scams: Some apps and brokers may be scams and lead to financial losses.
- No ownership: You don’t own the underlying asset. Furthermore, you’re only speculating on price changes.
- Market manipulation: The market can be manipulated by unscrupulous traders and brokers.
- Limited regulation: Binary options aren’t regulated in many countries.
- Short expiration time: Trades have a limited expiration time, which can create added pressure.
- Lack of understanding: A lack of knowledge of the markets can lead to poor investment decisions.
- Addiction: Binary options trading can become addictive, leading to poor financial decision-making.
Safety Tips for Using Binary Options Trading Apps
The following tips can help you stay safe while using binary options trading apps:
- Research the Binary Options Trading app before downloading and using it.
- Use secure passwords and enable 2FA.
- Only deposit funds with regulated brokers.
- Don’t disclose personal or financial information.
- Read and understand the terms and conditions.
- Keep software and virus protection up-to-date.
- Use a reputable and secure internet connection.
- Be cautious of unsolicited offers or promises of high returns.
- Monitor your account regularly.
- Be wary of overtrading or impulsive decisions.
- Verify the app’s legitimacy and reputation.
- Stay informed of market conditions and industry news.
- Don’t rely solely on the app's signals or automated trading.
- Practice with a demo account before using real money.
- Be mindful of your emotions and avoid impulsive decisions.
- Consider seeking professional financial advice.
- Stay within your budget and never invest more than you can afford to lose.
- Take advantage of resources like tutorials, webinars, and customer support.
- Don’t be afraid to switch to a different binary trading app if necessary.
- Keep a detailed record of your trades and review them regularly.
Conclusion
All things combined, Pocket Option is our top pick as the best binary options trading app. Always make sure you are aware of the risks involved with binary options trading apps.
Binary options trading is risky and not suitable for everyone.
So, before investing, consider your experience level, financial goals, and risk tolerance. Also, consider researching the binary options trading app’s reputation, regulations, and track record for fairness and reliability.
It’s important to make informed decisions, never invest more than you can afford to lose, and only trade with reputable companies.
