Binary options trading is becoming popular with each daylight. There are many binary options brokers in the industry. Each broker has their own characteristics and they offer different tools and resources for trading. Everyone has their favorite binary options broker for one reason or the other. There is some level of expertise required while trading binary options. As a beginner, you first have to learn how to analyze trends in the financial market before you start trading.
Different binary options brokers offer different tools and resources for beginner traders. You need to be able to find the right binary options broker in order to have better chances of making successful trades. The global financial markets carry a lot of risks while trading. As such, the best broker is the one that offers you a great trading environment and various ways of mitigating the risks.
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My Recommended Brokers Updated January 2020
|Broker||Min Deposit ($)||Min Stake ($)||Max Payout (%)|
|IQ Option||10||1||95||1st Choice|
|Olymp Trade||10||1||92||3rd Choice|
In order to find the best binary options broker for beginners, we sent out our binary options experts to explore the various binary options brokers in the industry. The experts would explore the trading platforms and the tools and resources that the different binary options brokers offer. They would look at the suitability of these brokers to beginner traders. IQ Option stood out as one of the best binary options brokers for beginners. Below we explore why they arrived at this conclusion.
IQ Option is one of the most popular binary options brokers in the online trading industry. IQ Option has over 17 million readers on its platform. Many of these traders started on IQ Option as beginners. They have managed to gain the trading expertise and prowess they have on the platform. One of the strongest aspects of IQ Option is its ability to help completely green traders learn the ropes of the trade.
IQ Option offers a demo account that allows green beginners to experiment before they start trading on the real market. The IQ Option demo account comes loaded with unlimited virtual money. This allows beginners to practice as much as they want before they get involved in the real trade.
Also, IQ Option has a very low barrier to entry. An entry-level account on IQ Option requires a minimum deposit of $10. You can trade with as low as $1 on IQ Option as well. It is the best binary options broker with low minimum deposit. It also has the best stock trading app for beginners. It is highly unlikely that you will find such offers on any other binary options broker. The low minimum deposit and trading amount allowed beginners to engage and learn in the real market without taking too much risk.
With other binary options brokers, a beginner has to deposit as much as 100 or 200 dollars for a basic account which does not offer much learning resources. The IQ Option basic account comes with a wealth of learning resources that allow the beginners to learn how to analyze the market and anticipate price movements. It is easy to upgrade to higher level accounts once one has grasped the fundamentals of binary options trading.
IQ Option has higher level trading accounts that attract a higher minimum deposit. These accounts come with special privileges, that allow the traders to profit more from their trading efforts. The ability of IQ Option to support beginner traders is shown by its large number of subscribers and success over the past decade. IQ Option has been recording tens of billions in subscriber deposits, and billions in withdrawals over the past couple of years.
IQ Option is also a trustworthy binary options broker. It is owned by a company called IQ Option ltd. The company is based in Cyprus and it is under the regulation of Cysec. Cysec is one of the most trusted regulatory bodies in the online trading space.