New Binary Options Brokers Ranking for 2023 by Traders Union
In their comprehensive 2023 research, Traders Union ranked the top binary options brokers, placing Pocket Option, QUOTEX, IQcent, Binarium, and Binary.com in the top five positions based on multiple evaluation criteria including regulation, platform features, and financial instruments offered.
Traders Union analysts have extensively researched binary options brokers again and have updated their ranking for 2023. They looked at different characteristics when ranking brokers, such as regulation, financial instruments offered to trade, minimum deposit, types of options, expiration dates, spreads, etc. Traders Union experts used more than 100 evaluation criteria in their ranking.
Top 5 best binary options brokers for 2023: Updated list
According to Traders Union analysts, the top 5 best binary options brokers for 2023 are:
- Pocket Option
Pocket Option reached the top of the new 2023 binary options brokers list. The brokerage house is famous for its trading platform that generates passive income. Moreover, one can also trade the FX market with this broker.
- QUOTEX
QUOTEX reached the second place on the updated ranking, scoring 9.02 out of 10. The minimum deposit when trading with this brokerage house is $10, and the broker offers a proprietary trading app. It offers a user-friendly trading platform and was established in 2019.
- IQcent
IQcent is one of the most popular binary options broker. The broker offers a web terminal compatible with most devices and 256-bit SSL encryption. Moreover, there are over 100 trading instruments available for its clients.
- Binarium
Binarium was established in 2012, and client funds are segregated. The minimum deposit is $5 and it offers a copy-trading service.
- Binary.com
Binary.com offers the possibility to open a trading account in fiat currencies or cryptocurrencies. Founded in 1999, it is one of the oldest and most experienced binary options brokers. Also, it is regulated.
Best binary options brokers by Traders Union: Full list
The Best Binary Options Brokers in 2023, including the top 10 binary trading apps, according to Traders Union, are:
- Pocket Option
- QUOTEX
- IQcent
- Binarium
- Binary.com
- CloseOption
- VideForex
- ExpertOption
- BinbotPro
- Raceoption
What is binary options trading?
Traders buy options when they believe the underlying instrument’s price will increase or decrease and that the expiration date offered by the broker is appropriate. Examples of underlying assets are FX pairs, cryptocurrencies, precious metals, stocks, stock indices, etc.
When buying a call option, traders hope the underlying price will rise. When buying a put option, they believe the price will fall. A profit is made if they are right at the option’s expiration date.
Binary options brokers reward traders if their options expire in the money. An option is a bet that the underlying asset’s price will rise or decline. If traders believe that the market will advance, they’ll buy call options. If they believe it will decline, they’ll buy put options. The key is that at the expiration date, the price of a call option should exceed the buying price or that the price of a put option should be lower than the buying price. Options can only be bought.
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