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Best Binary Options Trading Platforms for Beginners

Best Binary Options Trading Platforms for Beginners

Nowadays, binary options trading is becoming more and more popular. Especially among global traders, it is a ubiquitous platform for business. Nonetheless, the rise of smart devices and smartphones makes this platform easier to access.

There are so many benefits and advantages of binary options trading. One of the benefits is that the traders always have quick access to the market. However, before trading on any binary platform, you need to find out the best one to trade with.

In some cases, choosing the best binary options trading can be very confusing for you. So, in this writing, we will discuss the best binary option trading platforms for beginners. Keep reading the entire article for more.

Definition of Binary Options Trading

In simple words, binary options trading is a common platform for online trading. And this trading platform is mainly based on the broker who offers financial trading. One of the best sides of binary trading is that it offers investors a very minimal amount of money.

So, investors with a tight budget also go for this binary options trading. Since the investment is very minimal, that is why the risk factors are also very insignificant. However, all the binary options trading platforms do not work in the same way. Then again, they have some fundamental similarities.

There are so many binary option trading platforms out there. You need to choose the correct one for you, depending on your criteria. Some of the best binary options tradings are given in the following list:

1. EToro

This is a widespread and popular binary trading platform. This platform specially offers various stocks, currency pairs, and cryptocurrencies. Basically, this trading platform is very user-friendly and convenient to use. That is why, if you are a beginner and want to start binary options trading.  

Then this platform can be an excellent option for you. You can also use this platform as a copy trader. This will also offer the traders to have multiple accounts. So beginner traders who want to start their business with a small investment. Etoro is a helping hand for those traders.  

Additionally, on average, you can initiate the trading with only $200. As a trader, you can also have access to share trading insights. The fun fact is; this platform is available for any smartphone or device. The best part of eToro is that it has a very user-friendly, easy-to-use interface.  

2. 24option:

Among the binary options traders, 24option is also a very popular trading platform. In this platform, the traders can have access to their market 24/7. And the minimum deposits of this platform start with only 250USD. As a result, the beginner can easily initiate their business with a small investment.  

This platform also has various features—for example, skill development tricks in binary options trading, various languages option, etc. When someone starts trading in 24options, they need to start with a demo account. Then gradually, they can sign up for standard, gold, and platinum account.  

There are also so many good sides and benefits of 24 options. Such as it has a huge range of assets, the trading bonus. If you can fulfill or meet a certain goal, then you will be awarded trading bonuses. Also, its effective platform makes it so popular among beginner traders.  

3. ETX Capital

This platform is basically a London-based option trading platform. This site is very well known to online traders and investors. The best part of ETX capital is that it offers zero commission fees to its traders. Also, it has a very user-friendly interface for traders. As a result, beginners can easily start their trading with ETX capital.

Additionally, if you have good trading skills and knowledge about options trading, you can easily profit from it. The account opening process is also very convenient for beginners. Despite having so many advantages, it has some drawbacks too. Such as; It has a lack of essential tools and higher CFD charges.

4. CMC Markets

In the options trading industry, CMC markets is a very leading name. Because this financial platform is very sophisticated and robust, it provides access to the financial markets and all the financial contracts. Also, the traders have the flexibilities to trade in this financial platform.

Beginners to professionals, each and everyone can do their best in this market. The CMC market software is very available for various mobile platforms. It allows its users to control the functionality, Charting tools, and changing the time frame.

It also offers different client funds and a robust platform for traders. However, it has some limitations too. For example, the traders cannot use this platform for copy trading. Also, you can open any fixed spread account in the CMC market platform.

5. Empire Option

Comparing to the other financial platform, the empire option is relatively new and unique. Empire option started its journey in 2010. Since it is a new platform, then again, it becomes prevalent among financial traders.  

The primary goal of this platform is to bring all the online options traders in one place. And also making the trading environment safe and secure for the people. The customer service of the Empire option is always available through the phone or email.

The user-friendly platform, various products, and customer service make this platform very popular. On the other hand, this trading platform will not allow its user to have any demo account. So, most of the traders in the beginning level find this as a critical issue.  

6. Pocket Option

The pocket option is a prevalent web-based trading platform. It offers the full functionality of the market through the mobile phone. And it also supports live customer service through messaging. The goal of this platform is to increase the opportunities of the financial market. So, the traders can easily invest their money in the global market.

The pocket option is also known as the world’s most advanced trading platform. The tools and features that the pocket option offers are brilliant and easy to handle. The best part of the platform is the simple trading interface. If you are a beginner, you can also start your trading by depositing only $50.  

7. Binary.com

Another unique and trusted binary options trading platform is binary.com. It has a very easy and user-friendly interface for traders. Financial transactions are also very safe and secure in this financial market. Traders can easily invest their money without any risks or hesitation.

The best part of binary.com is, it has a huge asset to choose from. The web-based desktop platform makes it more convenient to use. And also, it helps to connect the traders and bring all of them together in one place. The minimum deposit starts with only $5 on this platform. As a result, the beginner can quickly begin their business.

Frequently Asked Questions

What is the Best Binary Options Trading Platform?          

There is plenty of binary options trading platform out there. Sometimes, they are competitors with one another. If you are looking for the best binary options trading platform. Then it would be best if you chose according to your criteria. Such as the features you need and the benefits. eToro, Binary.com is one of the best trading platforms.  

Is Binary Trading Illegal?                 

No, binary trading is not illegal. But it is depending on where you are living or your location. There may be some restrictions for binary trading. For instance: in some countries, practicing binary trading is restricted.

Is Binary Options Trading Profitable?                     

Definitely, this type of trading is very much profitable. But only if you know how to do that. If you are a beginner and expert, to have a higher profit from trading. Then it is not possible. Because the profit depends on a lot of factors. You need to have proper skills, experiences, market strategies to make profits.

How Safe is Binary Options Trading?         

Investment in binary options trading is very safe and secure. But before investing in any platform, you need to make sure that you are investing your money. There are some prevalent and prominent trading platforms. And they are entirely safe to invest your money.

Why are Binary Options Banned?

Though this is open market trading, unfortunately, there are some chances of being scammed in some cases. People usually invest their money in such platforms. As a result, some frauds want to take advantage of it. That is why, in some countries, binary options trading is restricted or banned.

In the Conclusion

Binary options trading is a straightforward way to make a profit for investors and traders. When someone wants to initiate their trading in binary options, they often need to choose one platform among all of the binary options platforms. But in most cases, it is a complicated task for the beginner.

Choosing the best binary options trading is not always that pleasing because you may get confused. Since there are so many options for you, you can choose one from the list mentioned above. Hopefully, this writing helped you to understand the Best Binary Options Trading Platforms for Beginners.

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