Traders Union analysts have extensively researched binary options brokers and updated their ranking for 2023. They looked at different characteristics of a brokerage house to determine which one is the best for traders to use – regulation, trading conditions, expiration times, bonuses, binary trading platform, etc.
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
The minimum deposit to trade with Pocket Option is $5, and the broker offers a binary trading platform that generates passive income.
Trading with QUOTEX in 2023 requires a minimum amount of $10. There are no trading or account fees. Moreover, Quotex offers one of the best binary trading platforms.
While the minimum deposit for trading with IQcent is slightly higher ($20 on a Bronze account), the brokerage house offers access to more than 100 financial instruments to trade.
Binarium is one of the binary options brokers that offer a copy trading service. Moreover, the brokerage house has no hidden fees.
Traders Union analysts say Binary.com was the best binary options broker in 2022. This year, it reached 5th place as a regulated broker with extensive experience.
Best binary options brokers by Traders Union: Full list
The Best Binary Options Brokers in 2023, according to Traders Union, are:
- Pocket Option
- Intrade Bar
What is binary options trading?
When trading binary options, traders can buy a call or a put option. To make a profit, the option must expire in the money at the expiration date. For a call option, the price at expiration must exceed the price when the option was bought. For a put option, the price at expiration must be lower than the price paid for the option.
Binary options trading is becoming more and more popular among retail traders. Upon studying a market, either using technical or fundamental analysis, traders bet on its future direction. By buying a call option, traders bet that the underlying asset’s price will increase. On the contrary, by buying a put option, traders bet the market will decline. An option can only be bought.
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