There used to be much more brokers offering binary options, but many regulatory authorities placed restrictions and prohibited that kind of trading. Are you from the US? Check this list. Binary options for the retail market were instituted in when the first description of this product was approved by the US Securities and Exchange Commission. The initial description of what is now known as US-style binary options was based on assets that were listed on exchanges, with traders pitting their bets against each other.

A short while later, a different model of binary options was developed and introduced to the world by brokers based in Europe and Israel. This model European-style binary options was essentially based on off-exchange trading of CFDs. However, what followed was years of unwholesome practices and remarkable scandals, which led to the shutdown of the industry in Israel by regulators there, and in the UK and EU region by the European Securities and Markets Authority ESMA.

The industry is presently undergoing a self-cleansing, and we now have offshore brokers who are showing better commitment at playing by the rules and ensuring their clients get a good deal for their money. The answer lies in only one direction: shady brokers and their agents all over the globe.

But perhaps some portion of the blame can go to regulators, who were generally very slow in rising up to the occasion to protect the clients, whose money constituted the entire financial backbone of the market. Brokers are meant to create markets for their clients to trade and are supposed to ensure transparency and safety of trading venues, while maintaining some level of neutrality.

However, what occurred between and was a situation where a lacuna in regulation led to the emergence of fraudulent entities. These scam brokers devised several means of ripping off their unsuspecting customers:. Perhaps the case that brought binary options into very negative light, prompting calls for an EU-wide ban, was the unfortunate case of a Canadian investor who lost his life savings after patronizing a shady brokerage entity.

The eventual suicide of this investor was the breaking point; EU and UK regulators took action and shut down binary options in Europe and the UK. It is not only traders that suffered from the criminal activities of the scam brokers. Legitimate brokers such as Binary. com paid a very heavy price, as they lost a significant amount of the market share in an industry where they could be said to be the pioneers. com which is listed above as one of the best binary options brokers of repute today and several other legitimate companies around the world were forced to make major changes to their operational models, in an attempt to improve transparency and to bring back badly eroded investor confidence into the market.

In selecting the binary options brokers displayed in our list above, the following parameters were used in the process of consideration and selection to ensure that only the most genuine brokers are available for you.

We have thus made the process simple, knowing that it is quite a challenge for traders to be able to select these brokers on their own. The issue of regulation cannot be emphasized enough. The only way traders are going to be protected is by regulating the binary options providers they operate with. Anything short of this will be inviting the old demons back.

Regulation also provides for greater accountability and ensures that investor confidence is never lacking in the market. A look was taken at the structure with which the listed brokerages operate. Many of them have been around for more than 9 years, and have invested in improving their platforms and trade offerings.

These brokerages also have properly defined corporate hierarchy and a face to which the company can be tied to. For instance, the CEO of Binary. com is well known. Olymptrade has a very active presence in an online forum in Africa. Brokerages like Go Markets have officials who are also well known. There are no faceless companies in our list. The brokers listed here all have verifiable contact addresses and can be reached by phone, email and social media channels.

The trade conditions for each broker were also reviewed. For instance, we looked at factors such as stability of the platform, uptimes and downtimes, accessibility of customer support, latency of price and data feeds as well as how the brokers handled counterparty risks. Brokers that were found wanting were eliminated from the list.

All Forex Brokers CFD Forex Brokers Binary Options Brokers Social Trading Brokers Crypto Forex Brokers Commodity Forex Brokers Stock Forex Brokers Brokers for EU traders Brokers for US traders Brokers for CA traders Regulated Forex Brokers Offshore Forex Brokers ECN Forex Brokers DMA Forex Brokers ASIC Forex Brokers FCA Forex Brokers PAMM Forex Brokers Copy Trading Brokers High Leverage Brokers Low Spread Brokers No KYC Forex Brokers Unlisted Forex Brokers.

Location Australia. Saint Vincent and the Grenadines. Saint Kitts and Nevis. CM Trading 7. Go Markets 8. Alpari Easy Markets. OctaFX 2. Bdswiss 3. Axiory 4. Pepperstone 5. Plus 6. Exness 8. Go Markets 9. com Oanda 2. com 4. TD Ameritrade 5. ATC Brokers 6. Nadex 7. com 8. ACY 9. NinjaTrader Best CFD Trading Strategies What is CFD Trading? Top CFD Forex Brokers.

What is Bitcoin? Bitcoin Trading Bitcoin Trading Tips and Strategies Bitcoin Mining Bitcoin Forex Brokers Quotes from Bitcoin Believers Bitcoin Halving Bitcoin Brokers Best Bitcoin Trading Apps Bitcoin Trading Bots Cloud Mining.

Ultimate Guide to Cryptocurrency Cryptocurrency Pairs Cryptocurrency Brokers Cryptocurrency Exchange Platforms Cryptocurrency Blockchains. Litecoin Ethereum Ripple Bitcoin Cash. Global Impact of Crypto Trading Worldwide Currency Report Cryptocurrency Cap Crypto Transaction Speeds Crypto Diversity Worldwide Crypto Readiness Report Crypto Opportunity Cost Crypto Spending Top Anti-Crypto Countries Crypto Regulation Index Global Investment Report.

How to Invest Money How to Invest in ETFs How to Invest in Index Funds How to start Forex Trading How to Pick Shares How to Report a Forex Broker How to be Consistent in Forex. The process involved with choosing a Broker may be one that is time-consuming and tedious, but when considering that traders will deposit funds into trading accounts held with such brokers, it is a task that must not be taken lightly.

When evaluating and comparing brokers, the most imperative factor, amidst numerous other important factors, that traders must thoroughly research and ensure, is that the broker they choose is regulated by known and reputable regulatory entities. Regulated brokers are under strict supervision, regulation, and authorization from regulatory entities which ensure that trading activities are legitimate, and that client fund security can be guaranteed.

In addition to this, brokers who are members of compensation schemes, also provide eligible traders with compensation should the broker be unable to fulfill their financial obligations in instances where the broker is liquidated or becomes bankrupted.

These funds may not be used for any reason other than trading activities from the trader in whose name the funds are kept. Besides, these funds must be made available for withdrawal at any given time by the trader in whose name the account is registered. Most of these brokers, besides, do not allow for deposits or withdrawals made to or from third parties as part of AML, or anti-money laundering processes. As technology improves and trading becomes more widespread across the globe, there are, however, scammers and individuals with malicious intent who will try to fool unsuspecting victims into depositing their funds to rob them thereof.

There is a great number of scam brokers who have been blacklisted and their names made public for traders to see, but there are also those who have slipped through the cracks. However, at one point, or another, they will be uncovered as well. Unfortunately, this is often at the cost of traders who have invested and subsequently lost substantial amounts of capital. The names of these brokers are made public to avoid others losing their funds in the same way.

Before choosing a broker, traders must conduct thorough research into their broker and ensure that the necessary regulation is in place and that it is legitimate in addition to searching the name of the broker to ensure that it does not appear on a list such as this. This broker used social media to promote its services and claimed to be a legitimate Forex broker with regulation through the Financial Services Provider, or FSP, with a corresponding license number.

Also, the scam broker claimed to be associated with Lebone Risk Solutions. Prophet Moral Monareng has been exposed by the FSCA as a trading scam in addition to proving the lack in association thereof with Lebone Risk Solutions. There was an official and public warning issued by the FSCA in addition to the sharing of information on the prosecution of the con artists who were posing as legitimate Forex traders in a separate scam to that involving Prophet Moral Monareng.

As both a Forex and cryptocurrency investment website, this broker claimed to generate high returns through investment plans which were claimed to be reliable. There is a lack of explanation on the website as to how such profits can be obtained, how the broker works, or what the broker actually is.

The only information which was available on the website is that DDFutures is a private company that is based in the UK and is involved with the development of products that guarantee high returns. There are numerous red flags that traders need to be aware of and where DDFutures is concerned, there were three distinctive red flags namely:.

This broker has worked to convince numerous traders to join the bandwagon on cannabis stock CFD investments. The US Dollar initial deposit which was required was to be paid directly to the broker upon registration. Once registered, Cannabis Trader makes use of specific software that automatically places trades on Cannabis Stock CFDs on behalf of the trader which is based on live market signals. The broker also offers tips to help traders learn all that they need to know regarding trading in addition to urging traders to invest in Cannabis Stock CFDs while there is a market for it.

There are a lot of red flags with this broker, amidst a lot of obvious traits typical with scam brokers that traders need to beware of. This is another get-rich-quick scheme that promises traders riches despite their trading skills or experience. It promises traders several thousands of dollars within mere hours. The broker does everything in its power to convince traders that they will be able to earn profits in a foolproof manner and traders should take great caution in avoiding falling prey to brokers such as these.

Claims to be a licensed investment company that provides services in addition to investment strategies, products, and other solutions to traders. Prime Trading claims that there are more than investment teams located in 30 countries around the world that share their knowledge and experiences so that traders can generate profitable results. There was a warning from Malta Financial Services Authority, or MFSA, alerting traders that Prime Trading is a scam. Despite the claim to offer a guarantee of success, the reality regarding trading is that there is no guarantee that profits will be earned.

Trading is a risky and complicated business that requires time, effort, dedication, research, and consistent efforts. NAS Broker claims to have been founded in and offers traders a variety of financial instruments that can be traded.

The broker is claimed to be headquartered in Saint Vincent and the Grenadines and claims regulation through FSA. This broker has drawn in many a trader through its offering of a live account with a US Dollar 0 minimum deposit requirement and the provision of a US Dollar 50 no-deposit bonus. It also offers mobile trading, numerous account options, PAMM and MAM accounts. BML is an Estonia-based broker that has been blacklisted and marked as a scam broker.

BML claimed to be regulated by FSA, requires a minimum deposit of US Dollar , and offers traders a variety of account options, financial instruments, and more. Also, the broker claimed to have 10, registered traders and that it is consistently trying to expand and improve the quality of its services.

The broker offered a transparent environment and claims to support a variety of trading strategies including scalping. STForex is a Saint Vincent and the Grenadines-based broker which has been in operation since This broker has been marked as a scam and is not to be used for the facilitation of trading activities.

The broker offers a variety of trading accounts and claims to provide PAMM accounts as well. The website language is offered in Russian and STForex claims to make use of an NDD model in addition to offering mobile trading and an array of features and high maximum leverage. Bull Trend Trader claims to have been founded in and is a Bulgarian-based NDD broker that is regulated by BNB in Bulgaria for facilitating the trade in numerous financial instruments.

This broker has been marked as a scam and traders need to steer clear of it to avoid substantial losses. The broker claims to have a US Dollar minimum deposit requirement and offers a variety of trading accounts that traders can choose from. The only payment methods that it accepts are PayPal, debit and credit cards, and wire transfer. CBFinvest claims to be a Cyprus-based NDD broker that was founded in and offers the trade of numerous financial instruments.

The website is presented in English, Hungarian, Spanish, German, and Romanian. Traders are required to make a US Dollar 10 minimum deposit and have a variety of accounts to choose from. CBFinvest also claims to have regulation and authorization through CySEC with a provided license number.

Customer support is presented in English and traders have the option of opening a trading account in either USD, EUR, or GBP. FIXI Markets claims to be an FCA -regulated broker based in the United Kingdom and which has been in operation since The broker claims to have NDD and STP execution and offers traders a variety of financial instruments that can be traded.

Also, traders have a variety of accounts to choose from in addition to having access to VPS and API capabilities. The broker claims to offer an affiliate program, mobile trading, and a minimum deposit of only US Dollar The website can be viewed in either English, Georgian, or Russian while support is only provided in English.

The deposit currencies which are supported include USD, EUR, GBP, and AUD. This broker has been marked as a scam and traders are advised to avoid dealing with this, and numerous other, scam brokers. Both UFX Market and UFX Bank have a substantial amount of negative reviews regarding irregularities in its provision of trading solutions and services.

Numerous traders have posted complaints against these brokers and subsequently, the broker has been blacklisted by Forex Peace Army due to its widespread poor reputation in an attempt to safeguard traders.

When traders attempt to withdraw funds, there are numerous issues, and the withdrawals are never processed. There is no way for traders to contact customer support and also, the broker promotes risky trades. After these votes, Tradorax has declared a scam and the broker appears on numerous websites containing blacklisted brokers.

Tradorax is infamous for freezing trading accounts in addition to blocking traders from being able to withdraw their funds. One of the victims of the Tradorax scam was a year old pensioner who had lost £60, when he was blocked from withdrawing his funds. Numerous traders have reported similar issues with the broker associated with the refusal to pay-outs in addition to theft of funds in trading accounts.

There have also been reports that Tradorax proceeds with deals on behalf of traders without prior permission in addition to charging registered credit cards fraudulently. Traders are encouraged to deposit more funds into their trading account after which their accounts are frozen, and the funds are removed.

When evaluating brokers and offers, the rule of thumb is that should something seem to be too good to be true, it normally is, and this applies where the scam broker, Panamoney, is concerned. There was a warning issued by the Financial Industry Regulatory Authority, or FINRA, in which called Panamoney out as con artists. Panamoney issued a few returns but closed down and was never to be seen or heard from thereafter. Some traders have claimed that they lost as much as US Dollar , while trading through Panamoney.

Also, Panamoney reserved the right to block a trading account at any given time without prior warning. The trading account would subsequently be cleared of all funds and the trader would be none the wiser until they try to access their trading account and notice that they had been blocked.

For various traders who made use of NoaFX to trade in various financial instruments, there had been minimal issues. Traders would trade in global markets and accumulate profits in their trading accounts, but there were problems and red flags which appeared when traders would attempt to make withdrawals from their trading accounts.

Traders reported having contacted NoaFX via email only to receive generic replies which were sent automatically. Over several months of trying to contact the broker regarding these issues, there had been no response from NoaFX. Traders had no way of reclaiming their funds even though NoaFX claimed to be under strict regulation from the Financial Markets Authority in New Zealand.

This was, however, not the case, and traders lost their funds. NoaFX has been blacklisted by Forex Peace Army and there are currently 3 guilty votes against the broker by the FPA Traders Court. NetoTrade is a scam broker that has numerous warnings that have been issued against it on a global scale.

NetoTrade claims to have regulation through FINMA, which has been confirmed as false by the Swiss Financial Regulator. Also, the National Securities Market Commission of Spain has issued a warning against NetoTrade as well and the broker already has three guilty votes with the FPA Traders Court. MaxCFD has been marked as a scam broker by Forex Peace Army after a warning was issued by the Australian Regulatory entity, ASIC. Should traders have a registered live trading account with this broker, they are urged to withdraw their investment as MaxCFD has been involved with numerous fraudulent practices.

These include the depositing of bonuses in trading accounts without prior permission which results in the freezing of the account or counterfeiting of the account balance. Acknowledged as a scam broker on Forex Peace Army, HFX is also listed with the Financial Services Authority, or FSA, as an illegitimate firm that is involved with illicit and fraudulent practices.

HFX is notorious to use trading account funds to execute trades without prior permission from traders. This leads to substantial losses and results in the clearing of the funds in the trading account. There have also been numerous reports of traders who have great difficulty in withdrawing funds from their trading account. Numerous traders have also been accused of trading in an unethical manner and have had their accounts blocked. This broker is known not only for theft of funds in trading accounts but also for blocking traders when they attempt to withdraw the funds from their trading account.

FM has also executed trades on behalf of traders which have resulted in substantial losses, without traders being compensated for such. PorterFinance forms a part of the Greymountain Management Group which has attracted a great number of Court Verdicts from the Forex Peace Army.

The Australian Securities and Exchange Commission has issued numerous warnings to traders in an attempt to protect them from PorterFinance and other illegitimate brokers. PorterFinance is also known for conducting activities such as trading Forex over weekends on behalf of its traders, blocking traders from withdrawing funds from their accounts despite the traders meeting all the stipulated requirements, and more.

PremiumBrokers is an offshore broker that is unregulated and under the ownership of Premium Solutions, Ltd. which is located in the Marshall Islands. CONSOB has issued a warning against the broker in as it was reported that the broker tried to scam numerous Italian traders while not being authorized to operate in the country.

There have been numerous problems that were reported by traders in addition to a fair amount of poor reviews in addition to warnings in avoiding any services or offerings offered by PremiumBrokers.

Grand Trade is an unregulated offshore broker under the ownership of Oracle Stone, Ltd. in Belize. There have been numerous poor reviews and reports of traders who have had a variety of issues with this broker. Grand Trade is a binary options broker that offers the trade in Forex, Cryptocurrency, and some precious metals which can be traded through a web-based platform.

Finarium Option is a binary options broker which has attracted numerous investors. Unfortunately, these traders have incurred substantial losses by investing funds with this broker.

There are numerous project names associated with Finarium Option such as Grand Option, Finance Option, and Prime Option, each with its respective website. Finarium Option has positioned itself as a leading provider of binary options trading and when considering that binary options trading is increasing in popularity, numerous traders are looking for a broker to accommodate such trades.

The International Financial Services Commission of Belize, or IFSC, has issued a warning against Binoptia. The BitOptions website claims that this broker is the largest online and mobile consumer in Europe.

There are claims that they make use of cutting-edge technology and data to offer traders in over 17 countries with comprehensive services. There is also provision made for a company certificate to show that they are registered, however, BitOptions 24, is a scam and there have been numerous warnings against it.

For traders who are beginners, the website and offers may look legitimate, but the truth is that it is a site without concrete information and unrealistic returns that are promised to unsuspecting traders. Is an unregulated broker that claims to be headquartered in New York. There have been numerous reports and poor reviews surrounding this broker, in addition to red flags that question its legitimacy.

There are numerous reviews on this broker warning traders that it may be a scam as there is no way for the security of trader funds to be ensured. Also, there is no substantial information available on the trading conditions that it offers. Traders are cautioned in using the services of this broker and advised to rather make use of a broker that is regulated by reputable entities and which provides clear and concise information regarding its offering, amongst several other factors to consider.

Trade24 is another scam broker that claims to facilitate the trade in Forex and CFD financial instruments. Trade24 is owned and operated by Payopt Services DOO which is situated in Montenegro. Although the parent company is registered in Anguilla, there are numerous warnings from the Financial Services and Markets Authority in Belgium as well as the Ontario Securities Commission in Canada against Trade The trading industry may be intimidating for new traders, especially when considering the numerous scam brokers that exist, but through thorough research, traders can avoid being caught in elaborate scams that may threaten a large portion of their capital.

JP Markets offers a welcome bonus to all new traders who choose to register for a real account. JP Markets is considered a low-risk and can be summarized as trustworthy and reliable.

JP Markets is regulated by the top-tier Financial Services Board, Based.

We placed real trades in each popular market to get the real spreads. We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process. We handpick the best binary options brokers based on our trading data and experience as a trader. Binary options are financial products that require traders to speculate if the price of the underlying assets will either go up or down.

Binary options are easy to understand for any traders, even beginners. The speculation on the market can be made only in two ways, thus the name binary. Binary options returns are not tied to the points increase or decrease of the underlying asset price.

But, binary options are risky. In fact, these investment instruments are banned in most countries and heavily regulated in the rest. Binary options brokers act as the counterpart, meaning they make money when the traders lose money. Brokers also have full control of the market data. The binary options industry saw many frauds over the past. While traders are attracted to these types of instruments due to their simplicity, the conflict of interest on the part of brokers fuels fraudulent activities.

As such, regulators around the world have either banned the retail sale and distribution of binary options or imposed heavy restrictions on binary options brokers. These financial instruments are categorized similarly to gambling.

Though binary options are not banned in the United States , brokers need to be registered with the Commodity Futures Trading Commission CFTC. In Japan, regulated binary options brokers cannot offer contracts with less than 2 hours in expiry. When it comes to regulated binary options brokers, there are not many choices.

Most of the major world economies have banned the retail sale and distribution of binary options. The United States is the only country with a good regulatory infrastructure allowing binary options trading.

But, there is only one regulated US platform offering binary options. North American Derivatives Exchange or Nadex is regulated by the US Commodity Futures Trading Commission CFTC and is one of the very few well-regulated platforms offering binary options services.

It is a very safe platform and allows US traders to trade with binary options. Unlike the other binary options, Nadex does not act as a counterparty. Instead, it only matches the trades of the market participants. The exchange makes money by charging the commission for each trade. The exchange offers a ton of markets of binary options: stock indices, forex pairs and commodities. The trading platform offered by Nadex is user-friendly and also provides a demo environment for beginners. As most of the countries have banned or heavily restricted the distribution of binary options, many brokers are offering these instruments with offshore registered entities.

Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to binary options brokers. Binary options are very risky investment instruments. Brokers are usually the counterparties on the trades and they also control all the market data presented to the traders. Because of the scams associated with binary options, most countries have banned such investment instruments.

US and Japan are the only two major countries allowing binary options, but under strict restrictions. Though many brokers are offering binary options trading, most of them are not regulated or are licensed in offshore jurisdictions. The UK, Australia, European Union, and several other countries have banned these financial products. But the United States is one of the very few major countries still allowing binary options brokers.

Binary options brokers in USA need to be regulated by the Commodity Futures Trading Commission CFTC to operate in the country. Nadex is the only US-regulated binary options broker and is a safe platform.

Binary options are banned in Canada. Though the provincial financial regulators of the country were issuing warnings on binary options scams and platforms for years, the supra-national regulator, Canadian Securities Administrators CSA , officially made advertisement, trading and distribution of binary options illegal in Though many offshore licensed binary options brokers are allowing much less initial deposits, we highly recommend traders not to open accounts with such entities.

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader. Everything you find on BrokerTested is based on reliable data and unbiased information. Read more about our methodology. I need knowledge on how to trade online.. I need you guys to educate me on Forest trade. Binary options substantiate microscopic resemblance to usual options, featuring different payouts, fees, and risks, as effectively as a unequalled liquidity structure and investment process.

com binary broker is top-tier right now and does accepts US traders. A user-friendly platform coupled with quality customer service is what they have offered me over the past few years.

Never had any deposit nor withdrawal issue. They are highly Recommended in my book. Your email address will not be published. Save my name, email in this browser for the next time I comment. Broker Reviews. BlackBull Markets. CMC Markets. All Reviews. Broker Categories. Brokers by Type. ECN Forex Brokers. Zero Spread Forex Brokers. Cryptocurrency Brokers. MT5 Forex Brokers. Day Trading Platforms. High Leverage Forex Brokers. Forex Brokers for Beginners. All Broker Types. Brokers by Country.

Forex Brokers New Zealand. Forex Brokers Australia. Forex Brokers UK. Forex Brokers USA. Forex Brokers Canada. Forex Brokers South Africa. Forex Brokers Kenya. Other Countries. BrokerTested Awards Broker Comparison. XM vs IC Markets. XM vs Pepperstone. eToro vs Trading IC Markets vs Pepperstone. Trading vs Plus All comparisons. B2B Directory Listing. Liquidity Provider. White Label Provider. Technology Provider. Platform Provider. Market Data. Copy Trading. Payment Provider. Turnkey Solution.

Back Office Systems. License for Sale. Brokerage for Sale.

Vantage FX View Profile. Core Liquidity Markets View Profile. CySec, FSCA. Though many offshore licensed binary options brokers are allowing much less initial deposits, we highly recommend traders not to open accounts with such entities. Tradorax is infamous for freezing trading accounts in addition to blocking traders from being able to withdraw their funds. Avatrade Exness JustMarkets Oanda BDSwiss Hotforex Pepperstone FBS OctaFX GoMarkets Menu.

Categories:

• Binary Options
• Binary Options online
• Forex Brokers
• Forex
• Forex Bitcoin