5 best Binary Options Broker 2020 – Review & Comparison

Trading Binary Options is easy and promises very high returns. However, the choice of a safe and reliable broker is crucial for long-term success. Here we would like to support you in choosing the best broker with our independent comparison.

As the test winner, the Broker IQ Option made an excellent impression on us. See the comparison table below:





Start trading: 

1. IQ Option

IQ Option logo


+ Yield up to 100%
+ Best platform
+ 24/7 support

2. Deriv

Deriv logo

6 regulators

+ Yield up to 95%
+ Auto trading (bot)
+ MetaTrader 5

3. Pocket Option

Pocket Option logo

No regulation

+ Yield up to 92%
+ No registration 
+ Accept any clients

4. Binomo

Binomo Logo

The Financial Commission

+ Yield up to 90%

+ 24/7 trading
+ Awarded broker

5. Expert Option



+ Yield up to 90%

+ No registration
+ Trusted platform

With the information from our test reports, you can avoid falling victim to a dubious broker and thus fraud when choosing your broker.

Risk note: Trading with binary options is also associated with a risk.

In addition to these brokers, we also have our own tests for Binary Options apps, demo accounts, brokers with PayPal, trading signals, and Binary Options robots.

In the following page, we will discuss the following brokers an their conditions:

  1. IQ Option
  2. Deriv
  3. Pocket Option
  4. Binomo
  5. Expert Option

List of the best Binary Options Broker:

In the following section, we will present you with the list of Binary Options Brokers in detail. For us, the winner is clearly IQ Option but for you, it can be some other broker on the list. There are different conditions and features if you sign up with them. In the end, you have to decide for yourself which broker you like the most.

1. IQ Option

IQ Option logo

At the moment IQ Option is the biggest and most successful Binary Options Broker. There are million of clients that are trading daily on the platform. IQ Option is popular for the high yield and user-friendly platform. Also, you can start with a free demo account and a small investment of $ 10.

See a screenshot of the platform below:

Screenshot of the IQ Option platform

IQ Option is an online broker from Cyprus which does not offer only Binary Options. It is a fully regulated company by the CySEC regulator. You can also trade Forex, CFDs, or cryptocurrencies with this platform. IQ Option is available for your computer or mobile phone. From our experience, the developed trading platform is very unique and gives the user the best feeling for trading.

You can use a lot of different analysis tools like chart types, indicators, or drawing tools. If you need information about an asset or market, IQ Option provides it to you. You can check the news or company news if you want to start to trade. Fundamental and technical analysis is possible with this broker.

All in all, we have to say IQ Option is the best broker for Binary Options Trading. The platform offers all the things you need for successful trading.

See the conditions below:

  • Regulated by the CySEC (Cyprus)
  • Free $ 10,000 demo account
  • $ 10 minimum deposit
  • $ 1 minimum investment
  • High yield up to 100%
  • More than 400 different markets
  • The best trading platform
  • More than 20 different payment methods
  • No hidden fees

(Risk warning: Your capital is at risk)

2. Deriv

Deriv Logo

Deriv is the new name of the well known brand Binary.com. This is an international broker based in europe and all over the world with different offices. The company exists since 1999 and has a professional track record.

See a screenshot of the platform below:

The broker is offering 4 different platforms: DTrader, DMT5, DBot, and SmartTrader. Customers can invest in Binary Options with more than 6 different execution types. You can also trade Forex, CFDs, Stocks, and Indices on their platforms.

More than 100 markets are available. Furthermore, the platform is active 24 hours per week. Weekend trading is possible with cryptocurrencies or OTC charts. Another advantage of Deriv is DBot. It supports automated trading. You can develop your own trading strategy and let it run automatically.

The minimum deposit is very low at only $ 5. The minimum investment is $ 1. In conclusion, Deriv is one of the top Binary Options Brokers which is regulated and safe.

See the conditions below:

  • Multi-regulated broker
  • Broker since 1999 (Binary.com brand)
  • Free demo account
  • A low minimum deposit of $ 5
  • Minimum investment $ 1
  • High yield up to 95%
  • Support automated trading
  • 4 different platforms
  • No hidden fees

(Risk warning: Your capital is at risk)

3. Pocket Option

Pocket Option logo

Pocket Option is a new Binary Options Broker which support international clients. The company is offering a good platform like IQ Option or Deriv. You can trade more than 100 markets and get a high yield.

See a screenshot of the platform below:

Like the other brokers on this site, Pocket Option is offering a free demo account with $ 10,000 virtual money. The minimum deposit is $ 50 and the minimum investment per trade is $ 1. You can trade more than 100 markets with a yield of up to 92%.

If you deposit more money than $ 50 you can get a higher account type with more advantages. Also, a bonus is available for every client. Pocket Option supports traders who do a high trading volume with achievements that are very interesting.

On the platform you can use the social trading function to follow other traders and copy their trades. Pocket Option is not fully regulated by a government authority but the broker is safe from our experience.

See the conditions below:

  • Accept international clients
  • Free $ 10,000 demo account
  • Minimum deposit $ 50
  • Minimum investment $ 1
  • High yield up to 92%
  • More than 100 markets
  • Account types
  • Bonus
  • Achievements
  • Social Trading
  • More than 20 payment methods
  • No hidden fees

(Risk warning: You capital is at risk)

4. Binomo


Binomo is an international Binary Options Brokers based in St. Vincent and the Grenadines which is regulated by the International Financial Commission. The platform offers more than 49 different assets to trade with a high yield up to 90%.

See a screenshot of the platform below:

Binomo is in 4th place because the conditions are not so good like the first 3 places but if you are searching for a second broker you can use Binomo. You can trade forex, commodities, stocks, and cryptocurrencies. The minimum deposit is $ 10 and the minimum investment is $ 1.

The broker offers 3 different account types. If you are depositing more money than $ 10 you can get a higher account type. The VIP account for $ 1000 has the highest yield and highest bonus of up to 100%. The platform is available for desktop and mobile. It offers analysis tools for free which are customizable.

In conclusion, Binomo is a safe and good Binary Options Broker for all traders who want to invest in the financial markets with digital options.

See the conditions below:

  • Regulated by the International Financial Commission
  • Free $ 1,000 demo account
  • Minimum deposit $ 10
  • Minimum investment $ 1
  • More than 49 markets
  • Bonus
  • Yield up to 90%
  • Investment insurance
  • More than 5 payment methods
  • No hidden fees

(Risk warning: Your capital is at risk)

5. Expert Option

Expert Option Logo

Expert Option is the last place in our comparison. That means it is not a bad Binary Options Broker. Expert Option is based in Vanuatu and also regulated there. It is a platform for trading short-term Binary Options. You can only trade Binary Options with an expiry time of up to 5 minutes.

You can create a free demo account without any registration. It is a virtual account with $ 10,000 for all who want to test the platform. The minimum deposit is $ 50 and the minimum investment is $ 1. The yield can be up to 90% depending on the account and market.

Expert Option also offers social trading. That means you can copy other successful traders automatically. The platform is customizable like the other recommended brokers on this page. Use indicators, chart types, or analysis tools.

All in all, Expert Option is a trusted Binary Options Broker for many years. The platform is very useful for traders who like to use short-term trading.

See the conditions below:

  • Regulated by the VFSC (Vanuatu)
  • Free $ 10,000 demo account
  • Minimum deposit $ 50
  • Minimum investment $ 1
  • Yield up to 90%
  • Only short-term options up to 5 minutes
  • Crypto trading
  • More than 100 assets
  • More than 20 payment methods
  • No hidden fees

(Risk warning: Your capital is at risk)

What are Binary Options Brokers?

Binary Options Brokers give private investors the opportunity to trade options simply and easily from home. In addition to some underlying assets, they have many different types of trading available to them. Trading is easy and convenient via Broker from anywhere in the world. The only requirement is a stable Internet connection.

Binary Options matching system

Trading with Binary Options is very easy and uncomplicated. Binary Options Brokers often provide many other services in addition to a trading platform, such as market reports, webinars, and personal advice. They offer the best basis for successful trading. Newcomers and beginners should familiarize themselves with the theory in order to understand the markets. Afterward information on investment strategies is on the agenda. The theoretical skills should not be tested directly with money in the market. Instead, many Binary Options brokers offer free demo accounts with play money, where the learned can be tested first.

Binary Options Platform

The still quite young market of Binary Options is hotly contested. More and more new brokers are entering the market and try to attract new customers with interesting conditions and bonuses. The competition ensures fair prices for private investors. With our broker comparison above, you can quickly find the right partner for your financial transactions. At a glance, you can see where the best conditions are offered. And of course, we have tested all brokers for fraud!

Criteria for the binary options broker comparison

It is not easy to compare the offers of different brokers. Each provider must be examined with regard to several criteria. Test reports on the individual brokers must also be included. The focus should always be on the following aspects:

Comparison of services: conditions and offers

The core of the Binary Options Broker comparison is the preparation of the individual offers in their entirety. In addition, the conditions and costs of service provision are compared. However, interested traders must bear in mind that brokers are in constant competition and can quickly introduce changes to services and conditions in this context. In principle, however, the test reports and experiences are an excellent basis for comparison.

What the brokers offer in our comparison:

Costs, fees and conditions

Trade is usually free of charge with Binary Options Brokers. Interesting is the trading conditions, which include the minimum capital contribution. There is always a minimum amount that must be paid on the first deposit to be allowed to actively participate in the trade.

The minimum deposit is usually for amounts above 10 dollars. On average, an initial deposit of about 25 Dollars is required. This regulation is particularly relevant for beginners, as they are usually reluctant to invest large sums directly. Lesser-known Binary Options Brokers usually require deposits of 250 dollar or more, which discourages many potential customers.

In terms of the overall effect on capital, the minimum investment per option is decisive. A distinction is usually made between classic call and put options and riskier products such as high-yield options. The market average for popular and popular providers is around $ 10 per position (in our comparison $ 1). Beginners cannot be recommended to make first trades with higher sums than $ 20. With small deposits, the investment capital can quickly be completely used up before sufficient experience has even been gained.

Trading opportunities: what is offered?

When Binary Options Brokers go out of business, they often offer innovative trading opportunities that help them differentiate themselves from the competition. Depending on the provider, there are sometimes trading opportunities that are not found with other brokers. However, the main criterion for choosing a binary options broker should be the number of relevant trading opportunities. For this purpose, it must be compared to how many and which types are offered.

Available markets for Binary Options

Classic call and put options are standard. In addition, there are usually so-called One Touch options. With them, traders do not only have to determine the direction of the price. The question is whether or not the price has touched a certain value by the end of the term. Usually, this investment option is slightly riskier than classic options. But the returns are higher.

One-Touch options are high yield options. The target price is significantly higher than the current value, making it relatively unlikely to be reached. Successful traders are rewarded with returns of up to 500 percent. Possible profits vary greatly from broker to broker and start at around 300 percent. For traders who want to invest in this area, the Binary Options Broker Comparison is recommended to compare the profit payouts.

Types of Binary Options:

  • Classic Binary Options (Rise/Fall)
  • One-Touch Options
  • Short-term Options
  • Long-Term Options
  • In/Out Options
  • Higher/Lower Options

Does the price move within a set corridor between two values in a certain period of time? Such a bet is called a Range Option. The returns depend on the selected range between two prices. Classical range options offer a return of about 90 percent.

One must also take a look at the short-term options. 30-second trading and 60-second trading are two extremely risky investment opportunities that have little to do with chart analysis and more to do with luck. We advise against these types of options.

Maximum returns in comparison

An important aspect of the Binary Options Broker comparison is the maximum recoverable return per trade. This is usually openly stated by the providers and usually refers to classic types of trading such as call and put options. Values above 90 percent are very fair, but traders usually cannot hope for more than 93 percent. A statement of the maximum return for other types of trading is also often provided. Here the profit opportunities can differ even more from broker to broker.

IQ Option offers the highest yield of up to 100%

Andre Witzel author from day-trader.net

Number of assets and tradable values

The number of underlying in the areas of commodities, indices, equities, and currencies determines the trading range for traders. On average, popular brokers deliver about 100 different underlying for classic forms of trading. Over 170 assets are an absolute exception and can be an important criterion when choosing a broker.

For beginners, even a few underlying should be enough. Some currency pairs and stocks can be very exotic, so there is insufficient information on prices and charts. Opening positions there is associated with high risk and should be avoided, especially by newcomers.

Most traded assets:

  • Currencies (EUR/USD, GBP/USD, USD/JPY)
  • Commodities (Gold, Oil)
  • Stocks (Tesla, Facebook, Amazon, McDonald’s)
  • Cryptocurrencies (Bitcoin)

Requirements for the trading platform

Most Binary Options Brokers now provide trading platforms that are quite suitable. Some software is used by several well-known and popular providers. A suitable platform should be characterized by a solid system that transmits quotes in real-time.

In our comparison, IQ Option offers the best trading platform:

IQ Option Trading Platform

(Risk warning: Your capital is at risk)

The necessary criterion for a trading platform is user-friendliness. The operation must be intuitive. A certain simplicity should be combined with a variety of trading options. At first glance, the overview of relevant values must be successful. In the best case, the trading platform is available everywhere in the world.

The provision of an app is certainly attractive but should be avoided, especially by beginners. The displays are simply too small for conclusive analyses. Successful trading is usually only possible from a desktop PC.

What else is offered?

Binary Options Brokers want to set themselves apart from the competition and provide customers with functions that make them unique within the industry. The features are designed very differently and range from regular bonus promotions to competitions and trading accounts that comply with Sharia law and are suitable for devout Muslims.

The classification of traders into different account types is a common feature. Regular market analyses, unusual trading types, and personal customer advisors are often only available when the deposit exceeds a certain value. Information on these special features is also listed in the Binary Options Broker Comparison. They are usually only of interest to experienced traders. In the beginning, the usual services are sufficient to familiarize yourself with trading.

Special offers of Binary Options Brokers:

Is there a demo account?

Free test accounts with play money to get to know the trading platform and the market are absolutely necessary for beginners. Experienced traders also frequently use demo accounts. They test strategies without risk before they apply them in the real market. Brokers with free demo accounts are very popular. When choosing a provider, their availability should be a noteworthy criterion.

Binary Options Demo Account

Deposit bonuses and other premiums

Binary Options Brokers often reward their customers with a bonus for registration and a first deposit. Usually, the deposit sum is increased by a certain percentage. With popular brokers, this is between 75 and 100 percent. Scales are often seen so that lower bonuses are paid for small deposits.

Traders must be careful with the bonus conditions. They state that the bonus paid out must be converted by a certain amount before a payout can be made. This means that sometimes it is necessary to wager a bonus amount of for example $ 300 x 40 times to have the money transferred to the bank account. The lower the number of wagers, the higher the chance that the capital can be transferred to real money from the online account.

Other rewards and bonus offers can also wait. Starting at a certain turnover per month, for example, there are special gifts or risk-free trades. The abundance of different possibilities is very high here.

It is therefore not only the deposit bonus that must be considered when choosing a Binary Options Broker. The conditions under which the bonus can be used play an important role. In general, bonuses should not be too important a reason for the decision for or against a broker.

Training opportunities and tips for beginners

Online there are many ways to learn about options trading. The Binary Options market is still very young. All the more traders are completely new in this field and have to find their way in first. They must be strongly advised to start by learning and understanding the basic system of binary options trading in theory. Chart analysis and other methods of price estimation are important in order to be able to use capital successfully in the long term.

Professionals should also pay attention to the training courses offered when comparing Binary Options Brokers. There they will find some new information that can improve their trading. Introductions and tips on new strategies are also provided. In the best case, these training offers are free of charge for every trader. Many brokers, however, rely on gradations so that the information is only available from a certain deposit amount.

Whether webinars, information texts, and current financial analyses are really sufficient and correctly prepared in terms of content cannot be predicted. This is where test reports help with individual assessments. However, a large number of free training opportunities speak for a binary options broker in any case.

Seriousness and trustworthiness

Auditing the company is one of the most important tasks that the Binary Options Broker Comparison has to perform. Quite a few black sheep are roaming the industry and ensure that confidence in brokers is increasingly dwindling. Before registering, it is essential to check what experience other customers have had and how the company behind the brand is generally rated.

The first indication of the seriousness of a broker is the regulatory location. Most providers have registered their headquarters in Cyprus in order to be controlled by the Cypriot stock exchange supervisory authority CySEC. It adheres to the standards and regulations of the European Union. Therefore the company controls are equal to those of the German BaFin. Traders do not have to worry that a CySEC-regulated broker is not doing the right thing. Cyprus is very sought after as a company headquarters because of the low taxes. Important is also the deposit insurance. Within the EU usually up to 20.000 Euro are protected against insolvency of the provider.

Test reports and experiences of other traders with the respective Binary Options Broker can also help to better assess the provider. A quick search on the Internet often provides information and gives a comprehensive picture of the trustworthiness of a broker.

Customer support and personal assistance

This point is especially important for beginners: Does the customer service help at any time in your country with any problems that arise? Or are employees speaking other languages very difficult to reach? The perfect customer support should offer live chat and contact form as well as a free service number. Via this number, contact can be established quickly and easily. All arising questions can be clarified personally.

The brokers in our list offer 24-hour support in different languages

Many customer advisors not only help with difficulties concerning the trading platform and your own account. They are also able to answer questions regarding the content in a short, precise, and understandable way. Some binary options brokers have specially trained staff who can give you tips on trading. Personal advisors are a considerable advantage of this provider over others who do not offer such a function.

The Binary Options Broker comparison shows exactly what to think of customer support. With a serious customer support, you can also expect that the broker is trustworthy in other respects and that an investment there is safe.

Before signing up with a Binary Options Broker, you should compare the individual services. An examination of the trustworthiness of the provider must also be carried out. Once all relevant criteria have been assessed, trading can finally begin.

Conclusion: Binary Options Trading is possible with the right broker

On this page, we showed you 5 different Binary Options Brokers and their details. The platforms are tested and approved by us. There is no scam or fraud to expect because the brokers are regulated. If you are still unsure, you can open a demo account or only deposit a small amount of money.

IQ Option is clearly the winner in our comparison. The broker is offering the best platform and conditions. We wish you happy trading and a successful trading day.

(Risk warning: Your capital is at risk)

Read also our other Binary Options articles:

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