Binary Options Alternatives
While binary options are a simple and potentially lucrative form of trading, some investors will want to expand their trading repertoire to include alternative instruments. This guide explores the best alternatives to binary options, from CFDs to spread betting and futures. We also explain how these trading instruments compare to binary options, unpacking their respective merits and drawbacks. Read on for a list of the best binary options alternatives.
Best Alternatives To Binary Options Brokers
Here is a short overview of each broker's pros and cons
- Interactive Brokers - Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.
- UnitedPips - UnitedPips supports CFD trading on a narrow selection of currencies, metals and cryptos. It somewhat compensates for the meagre asset range with high leverage up to 1:1000, seriously amplifying potential profits or losses, and spreads that don’t change with market conditions.
- RedMars - RedMars caters to various short-term trading styles across popular asset classes, including 7 commodities, 14 indices, and 120+ stocks. Leverage is available up to 1:30 (retail) and 1:500 (pro), amplifying results. However, there is no calculator to help with understanding margin requirements and the depth of investments is limited.
- IQCent - CFDs are available on forex, indices, commodities and cryptos, although the range of 100+ instruments is limited compared to alternatives such as Quotex with 400+. Leverage is available up to 1:500 but the $250 minimum deposit is noticeably higher than competitors.
- Dukascopy - Dukascopy offers highly leveraged CFD trading up to 1:200. A wide selection of asset classes are available, including currencies, equities, commodities, ETFs and cryptos. Spreads are tight starting from 0.1 pips and traders get 24/7 support that performed well during testing. However, the real standout is the security provided by trading CFDs through a multi-regulated broker and Swiss bank
- Capitalcore - The range of CFDs at Capitalcore is narrow, with 6 precious metals, 6 indices, and a slim suite of stocks. Notably, there are no commodities such as oil or gas and spreads vary greatly. Tiered leverage is available depending on the account, from 1:100 to 1:2000.
Binary Options Alternatives Comparison
| Broker | CFD Leverage | Minimum Deposit | Minimum Trade | Regulators |
|---|---|---|---|---|
| Interactive Brokers | 1:50 | $0 | $100 | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| UnitedPips | 1:1000 | $10 | 0.01 Lots | IFSA |
| RedMars | 1:30 (Retail), 1:500 (Pro) | €250 | 0.01 Lots | CySEC, AFM |
| IQCent | 1:500 | $250 | $0.01 | IFMRRC |
| Dukascopy | 1:200 | $100 | 0.01 Lots | FINMA, JFSA, FCMC |
| Capitalcore | 1:2000 | $10 | 0.01 Lots | IFSA |
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Christian Harris, Reviewer
Interactive Brokers Quick Facts
| FTSE Spread | 0.005% (£1 Min) |
|---|---|
| GBPUSD Spread | 0.08-0.20 bps x trade value |
| Stocks Spread | 0.003 |
| Leverage | 1:50 |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries, most recently the Saudi Stock Exchange.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
Cons
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
UnitedPips
"UnitedPips is ideal for traders seeking leveraged trading opportunities, the security of fixed spreads, and the flexibility to deposit, withdraw, and trade cryptocurrencies - all in one sleek TradingView-powered platform."
UnitedPips Quick Facts
| Bonus Offer | 40% Deposit Bonus |
|---|---|
| FTSE Spread | NA |
| GBPUSD Spread | 1.3 |
| Stocks Spread | NA |
| Leverage | 1:1000 |
| Regulator | IFSA |
| Platforms | UniTrader |
| Account Currencies | USD |
Pros
- UnitedPips offers impressive leverage up to 1:1000 with zero swap fees or commissions, which can enhance potential returns for day traders and swing traders looking to control prominent positions with less capital.
- Although being handed off mid-chat due to shift changes during testing was frustrating, customer support is generally good with quick, helpful responses, and 24/7 support via phone and email for regional teams is a definite advantage.
- UnitedPips’ platform performs well, with an intuitive design that will appeal to beginners, while the TradingView integration delivers powerful charting tools without overwhelming users, making it straightforward to execute trades efficiently.
Cons
- Unlike brokers such as IG, UnitedPips is an offshore broker not regulated by any 'green tier' financial authorities, raising concerns for traders seeking assurance and protection under well-established regulatory frameworks.
- UnitedPips' selection of tradable instruments is still minimal, comprising a bare minimum selection of forex, metals and crypto. There are no equities, indices or ETFs, which may be a drawback for experienced traders looking for diverse opportunities.
- UnitedPips lacks comprehensive research, while the educational content for beginner traders is woeful. Compared to brokers like eToro, which offers tutorials, webinars, and advanced courses, UnitedPips offers minimal resources to help new traders understand key concepts.
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
RedMars Quick Facts
| FTSE Spread | 15 |
|---|---|
| GBPUSD Spread | 0.7 |
| Stocks Spread | Variable |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Regulator | CySEC, AFM |
| Platforms | MT5 |
| Account Currencies | USD, EUR |
Pros
- RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
- The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
- The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies
Cons
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
- RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
Jemma Grist, Reviewer
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| FTSE Spread | 1.4 |
| GBPUSD Spread | 0.8 |
| Stocks Spread | N/A |
| Leverage | 1:500 |
| Regulator | IFMRRC |
| Platforms | Online Platform, TradingView |
| Account Currencies | USD, EUR |
Pros
- Keen traders can take part in trading contests with cash prizes
- IQCent is one of the few binary options brokers that also offers a copy trading service for hands-off traders
- There's an accessible $0.01 minimum stake for new day traders with a small budget
Cons
- IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
- IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
- The broker is not overseen by a respected regulator, though this is common among binary options firms
Dukascopy
"If you’re an experienced trader, Dukascopy provides the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the peace of mind of using a Swiss-regulated bank and broker."
Dukascopy Quick Facts
| Bonus Offer | 10% Equity Bonus |
|---|---|
| FTSE Spread | 100 |
| GBPUSD Spread | 0.1 |
| Stocks Spread | 0.1 |
| Leverage | 1:200 |
| Regulator | FINMA, JFSA, FCMC |
| Platforms | JForex, MT4, MT5 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN |
Pros
- Dukascopy features some of the best research we’ve seen, even a professional TV studio in Geneva covering financial news, market analysis, and daily insights from professionals.
- Dukascopy is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as both a broker and a bank, ensuring top-tier financial security and adherence to strict standards.
- The proprietary JForex platform is highly advanced, offering tools for algorithmic trading, extensive charting, and access to deep liquidity for short-term traders.
Cons
- While JForex is feature-rich, it has a steep learning curve, making it less suitable for beginner traders who might prefer simpler platforms.
- Some account types, such as the MT4/MT5 accounts, require a higher minimum deposit of $1,000, which may not be ideal for traders with smaller budgets.
- While Dukascopy provides some educational resources and 24/7 support, the complexity of its platforms and tools required extensive testing and may overwhelm newer traders.
Capitalcore
"The major selling points of Capitalcore are its high leverage options up to 1:2000 and zero commission or swap fees. However, its weak regulatory oversight from the IFSA and non-existent education place it far behind the top brokers."
Capitalcore Quick Facts
| Bonus Offer | 40% Deposit Bonus up to $2,500 |
|---|---|
| FTSE Spread | 25 |
| GBPUSD Spread | 0.5 |
| Stocks Spread | 1.5 (Apple) |
| Leverage | 1:2000 |
| Regulator | IFSA |
| Platforms | WebTrader, Pro |
| Account Currencies | USD |
Pros
- The Capitalcore platform provides comprehensive charting tools and a wide range of 150+ technical indicators, ideal for detailed market analysis.
- Unlike most brokers, Capitalcore offers an unlimited demo account that takes under 5 minutes to open.
- The support team are available 24/7 and responded within minutes during testing with helpful responses.
Cons
- Capitalcore is not regulated by major financial authorities and has an unproven reputation, raising concerns about the safety of client funds.
- Platform support is limited to proprietary software, so there's no integration with the market-leading MetaTrader or cTrader, which offer built-in economic news and support automated trading.
- The web platform was inconsistent during testing, with occasional technical glitches that meant the trading platform wouldn’t load.
Binary Options Explained
The simple definition is that binary options are a simplified type of speculation where traders make straightforward price predictions about an asset over a set period. With the most basic contracts, investors need only predict if an asset’s price will be higher or lower than its current value after the contract expires. For example, will Twitter’s share price be higher or lower than $40 in six hours?
Binary options are similar to sports or event gambling in that users stake money for a fixed-odds return. Payouts on traditional binary options can reach 95%, while a losing trade will see the investor lose their initial stake.
Types Of Binary Options
Traders worldwide can use this investment vehicle to make price predictions on a wide range of markets. However, there are significant regional differences between European-style binary options and the alternatives for US residents.
Before diving into the alternatives to binary options, here is a brief overview of the differences between the USA and European-style instruments:
European Binary Options
European or traditional binary options allow investors to stake funds on the price movement of an asset in exchange for a fixed payout if their prediction is correct. However, some binary options brokers offer alternative variants for different trading strategies:
- Up/Down – This is the most basic form of binary option supported by most, if not all, binary options trading companies and businesses. Clients can bet either long or short to predict whether an asset’s price will be “up” or “down” from its current price at expiry.
- One/Two Touch – With a traditional up/down variant, the payout is determined by the price when the contract expires. However, for a one or two-touch binary options contract, the price only needs to reach a price level at any time before expiry to trigger the payout. Investors can set this price level above or below the current price to go long or short on an asset.
- Range/Boundary – Boundary options allow traders to bet on price volatility rather than direction. Investors specify a high and low cash value for their chosen asset. With these levels, traders can bet on the asset price, finishing either outside or within this range at expiry.
- Ladder – While traditional binary options pay out a fixed reward based on a singular strike price, ladder options provide several strike prices, each with different payouts. This allows investors to make extra profit from more significant price movements.
US-Style Binary Options
US-style binary options, also sometimes referred to as fixed-return options, differ because they are exchange-traded rather than sold over-the-counter (OTC) by individual brokers. This gives investors more flexibility to exit positions early and provides traders with additional security.
All US-style binary options offer a set payout of $100 per contract, with investors profiting from the difference between the price paid for a contract and the set final value.
Brokers often make their money from commissions for buying, selling and settling winning trades, similar to some of our binary options alternatives.
Markets
Binary options offer access to an excellent range of markets. However, it is worth noting that none of these assets are owned during the trade. Binary options are simply derivatives with which to speculate on price movements.
Here are some of the markets that binary options traders typically have access to:
- Forex – Investors can bet on price movements on major, minor and sometimes even exotic currency pairs.
- Indices – A good range of global indices are usually provided for speculation, from the FTSE to the S&P.
- Commodities – Popular commodities such as gold, silver, and crude oil are often provided by binary options brokers.
- Stocks – Almost all brokers offer major USA-based equities instruments. However, those looking for EU, UK or Asian offerings may find it harder to find a provider.
- Cryptos – Cryptocurrencies are well-suited to binary options speculation due to their volatile and heavily momentum-based trading. The best binary options brokers will provide crypto assets such as Bitcoin, Ethereum, Bitcoin Cash and Ripple.
Note, not all of the binary options alternatives listed below offer such wide market access.
Pros Of Binary Options
Here are some of the reasons that binary options are popular with global investors:
- Simple – The mechanics of binary options are easy to understand and suitable for beginners.
- Capped Losses – No matter what style or variant of binary options you trade, your losses can never exceed your stake.
- Big Payouts – Traditional binary options do not discriminate based on the size of a price movement, meaning investors can bank up to a 95% payout for even the smallest price movement.
- Demo Accounts – Many of the best binary options brokers offer risk-free demo accounts to help clients learn the ropes. This is far harder to do using some of the binary options alternatives.
- Customizable – Binary options traders can specify expiry times ranging from as low as 3 seconds up to months with some providers. Additionally, several variants are available suited to different market conditions or prediction types.
Cons Of Binary Options
Here are some examples of why traders may prefer alternatives to binary options:
- Limited Payouts – Brokers always have the edge over traders with payouts usually reaching only 95%.
- Pure Derivative – Traders do not own any of the underlying assets when trading binary options. This restricts opportunities for staking or dividend investing.
- Largely Unregulated – It can be hard to find a good binary options broker. For binary options traders outside of the USA, brokers are mostly unregulated and scams are rife with a hefty blacklist of fraudulent providers. This is not the case with many of the binary options alternatives below.
- Limited Platforms – Many proprietary binary options platforms are designed with simplicity in mind. Traders do not normally have access to comprehensive technical analysis tools and signals found elsewhere.
- Missing Markets – Most brokers only offer markets on major USA company stocks, leaving global equities unrepresented. Additionally, less common commodity markets such as coffee, grain or palladium are often not normally featured.
Binary Options Brokers
Here is a summary of why we recommend these brokers in March 2025:
- Capitalcore - Capitalcore is an offshore broker, based in Saint Vincent and the Grenadines and established in 2019. Traders can choose from four accounts (Classic, Silver, Gold, VIP) with lower spreads and larger bonuses as you move through the tiers. Where Capitalcore distinguishes itself is its high leverage up to 1:2000 and zero swap fees, though these don’t compensate for the weak oversight from the IFSA and paltry education and research.
- IQCent - IQCent is an offshore binary options and CFD broker based in the Marshall Islands. The brand continues to offer a range of unique account types with bonuses and perks, including payout boosts, TradeBacks and free rollovers. With 100+ assets, around-the-clock trading and 98% payouts, the firm is popular with aspiring short-term traders.
- CloseOption - CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software.
- Videforex - Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
- Binarium - Binarium is an established international broker offering binary options trading on diverse markets including stocks, indices, forex, commodities and cryptocurrencies. Traders can start trading with as little as $1 and earn payouts up to 80% of their stake.
- Dukascopy - Established in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage providing short-term trading opportunities on 1,200+ instruments, including binaries. A choice of accounts (JForex, MT4/5, Binary Options) and sophisticated platforms (JForex, MT4/MT5) deliver powerful tools and market data for active traders.
Capitalcore
"The major selling points of Capitalcore are its high leverage options up to 1:2000 and zero commission or swap fees. However, its weak regulatory oversight from the IFSA and non-existent education place it far behind the top brokers."
Capitalcore Quick Facts
| Bonus Offer | 40% Deposit Bonus up to $2,500 |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Metals, Stocks, Cryptos, Futures Indices, Binary Options |
| Regulator | IFSA |
| Platforms | WebTrader, Pro |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD |
Pros
- The support team are available 24/7 and responded within minutes during testing with helpful responses.
- Capitalcore is one of the only brokers to charge zero swap fees, which may appeal to Islamic traders looking to comply with Islamic Finance.
- Unlike most brokers, Capitalcore offers an unlimited demo account that takes under 5 minutes to open.
Cons
- The web platform was inconsistent during testing, with occasional technical glitches that meant the trading platform wouldn’t load.
- Capitalcore’s threadbare education and research seriously trail category leaders like IG, making it less suitable for aspiring traders.
- Platform support is limited to proprietary software, so there's no integration with the market-leading MetaTrader or cTrader, which offer built-in economic news and support automated trading.
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Regulator | IFMRRC |
| Platforms | Online Platform, TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| Account Currencies | USD, EUR |
Pros
- IQCent is one of the few binary options brokers that also offers a copy trading service for hands-off traders
- Keen traders can take part in trading contests with cash prizes
- The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
Cons
- There's no automated trading support for algo traders
- The broker is not overseen by a respected regulator, though this is common among binary options firms
- The market analysis is very basic with limited technical summaries and insights from analysts
CloseOption
"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."
CloseOption Quick Facts
| Bonus Offer | $10 Welcome Gift |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options on Forex & Cryptos |
| Regulator | National Bank of Georgia |
| Platforms | Own |
| Minimum Deposit | $5 |
| Minimum Trade | $1 |
| Account Currencies | USD |
Pros
- Multiple global payment methods are available
- Free demo account
- CloseOption offers weekly trading tournaments with cash prizes
Cons
- CloseOption is not regulated by a well-regarded trading authority
- Clients need to deposit $50,000+ to qualify for the best payouts
- Binary options are only available on fiat and digital currencies
Videforex
"Videforex will serve traders looking for a no-frills, easy-to-use platform to speculate on the direction of popular financial markets through binaries. With a sign-up process that takes a matter of minutes and a web-accessible platform, getting started is a breeze. "
Videforex Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Platforms | TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
Cons
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
Binarium
"Binarium has been designed with simplicity in mind, featuring a fast, fully digital sign-up process and an intuitive platform and app with 4 chart types and 12 indicators. With binaries spanning 5 minutes to 3 months, it caters to short- and medium-term traders."
Binarium Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Stocks, Cryptos |
| Platforms | Own |
| Minimum Deposit | $5 |
| Minimum Trade | $1 |
| Account Currencies | USD, EUR, AUD, RUB |
Pros
- Binarium has the best education centre we’ve seen amongst binary options brands, complete with information on core topics like trading basics and account options, plus professional video guides to using the platform.
- The $10,000 demo account, deposit-doubling welcome bonus, smooth sign-up, and 24/7 support make for an attractive onboarding experience.
- Binarium claims to segregate client funds with EU banks, meaning traders’ money should not be misused and providing an important layer of protection, which is especially relevant given its offshore status.
Cons
- Binarium has some way to go to match the investment offering of binary firms like Quotex, with a particularly weak selection of around 20 currencies and 3 cryptocurrencies.
- Despite being operational since 2012, Binarium is an unregulated broker with limited transparency on its website, raising safety concerns and potentially putting your capital at risk.
- Payouts of up to 80% are on the low side of binary options platforms based on our evaluations, which may deter traders looking for the possible best returns, though you can get back up to 15% of losing trades.
Dukascopy
"If you’re an experienced trader, Dukascopy provides the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the peace of mind of using a Swiss-regulated bank and broker."
Dukascopy Quick Facts
| Bonus Offer | 10% Equity Bonus |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options |
| Regulator | FINMA, JFSA, FCMC |
| Platforms | JForex, MT4, MT5 |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:200 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN |
Pros
- Dukascopy offers tight spreads starting from 0.1 pips, leverage up to 1:200 (depending on the jurisdiction), and volume-based commissions that reward high-frequency traders.
- Dukascopy features some of the best research we’ve seen, even a professional TV studio in Geneva covering financial news, market analysis, and daily insights from professionals.
- The proprietary JForex platform is highly advanced, offering tools for algorithmic trading, extensive charting, and access to deep liquidity for short-term traders.
Cons
- Some account types, such as the MT4/MT5 accounts, require a higher minimum deposit of $1,000, which may not be ideal for traders with smaller budgets.
- Dukascopy's withdrawal fees are higher than most competitors we’ve tested, particularly for bank wire transfers, which may deter traders who require frequent access to their funds.
- While Dukascopy provides some educational resources and 24/7 support, the complexity of its platforms and tools required extensive testing and may overwhelm newer traders.
Alternatives To Binary Options
Many alternative instruments offer solutions if binary options do not fulfil your trading needs. While this list is not exhaustive, some examples of the most popular and valuable binary options alternatives are:
Binary Options Alternative 1: CFDs
Our first binary options alternative is contracts for difference, or CFDs. CFDs are hugely popular trading instruments for forex and commodity markets. Similarly to binary options, investors have no ownership of an underlying asset and only trade on its market price.
Unfortunately for American investors, CFDs are heavily restricted in the US. However, in this article, there are other binary options alternatives listed that are available in the US.
Markets
This binary options alternative boasts a more comprehensive selection of markets, partly due to the many more brokers offering CFDs than binary options.
Using CFDs, traders can speculate on major, minor and exotic forex pairs, indices, stocks, ETFs, commodities, cryptos, bonds and interest rates markets.
Complexity
CFDs are slightly more complex than binary options despite being governed by the same principles of going either long or short on an asset. However, investors need not be experts to open a CFD trade.
The positive side of this added complexity, traders have more order types to choose from to create more precise positions.
Profit & Loss Potential
CFD trading promises the potential for far greater payouts through leverage. Some global CFD brokers offer leverage of 1:500 or even higher.
However, with greater potential for reward comes greater risk. Losses are not capped and can quickly wipe out significant capital when trading using high leverage. Our excerpts advise investors to use tools like a stop loss or trailing stop to minimize losses on CFDs.
Fees & Commissions
CFDs can be a cost-effective way of trading versus some of the other binary options alternatives outlined below. Typical broker fees are competitive and charged either through commission or are contained within the spread of a product.
However, customers should ensure that their broker has no hidden charges such as inactivity, deposit, withdrawal or platform fees.
Safety & Regulation
Regarding safety, CFDs rank higher than binary options due to a higher proportion of brokers being regulated.
However, this is not to say that fraudulent CFD brokers do not exist. For maximum protection, prospective clients should favour brokers regulated by a reputable body such as the FCA or ASIC.
Strategies
CFDs may have the least strategies available of all the binary options alternatives in this guide. Investors must ultimately pick between going long or short on an asset. While hedging is possible, other instruments are better suited to this strategy.
CFD Brokers
Here is a summary of why we recommend these brokers in March 2025:
- Interactive Brokers - Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.
- UnitedPips - UnitedPips supports CFD trading on a narrow selection of currencies, metals and cryptos. It somewhat compensates for the meagre asset range with high leverage up to 1:1000, seriously amplifying potential profits or losses, and spreads that don’t change with market conditions.
- RedMars - RedMars caters to various short-term trading styles across popular asset classes, including 7 commodities, 14 indices, and 120+ stocks. Leverage is available up to 1:30 (retail) and 1:500 (pro), amplifying results. However, there is no calculator to help with understanding margin requirements and the depth of investments is limited.
- IQCent - CFDs are available on forex, indices, commodities and cryptos, although the range of 100+ instruments is limited compared to alternatives such as Quotex with 400+. Leverage is available up to 1:500 but the $250 minimum deposit is noticeably higher than competitors.
- Dukascopy - Dukascopy offers highly leveraged CFD trading up to 1:200. A wide selection of asset classes are available, including currencies, equities, commodities, ETFs and cryptos. Spreads are tight starting from 0.1 pips and traders get 24/7 support that performed well during testing. However, the real standout is the security provided by trading CFDs through a multi-regulated broker and Swiss bank
- Capitalcore - The range of CFDs at Capitalcore is narrow, with 6 precious metals, 6 indices, and a slim suite of stocks. Notably, there are no commodities such as oil or gas and spreads vary greatly. Tiered leverage is available depending on the account, from 1:100 to 1:2000.
Binary Options Alternatives Comparison
| Broker | CFD Leverage | Minimum Deposit | Minimum Trade | Regulators |
|---|---|---|---|---|
| Interactive Brokers | 1:50 | $0 | $100 | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| UnitedPips | 1:1000 | $10 | 0.01 Lots | IFSA |
| RedMars | 1:30 (Retail), 1:500 (Pro) | €250 | 0.01 Lots | CySEC, AFM |
| IQCent | 1:500 | $250 | $0.01 | IFMRRC |
| Dukascopy | 1:200 | $100 | 0.01 Lots | FINMA, JFSA, FCMC |
| Capitalcore | 1:2000 | $10 | 0.01 Lots | IFSA |
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| FTSE Spread | 0.005% (£1 Min) |
|---|---|
| GBPUSD Spread | 0.08-0.20 bps x trade value |
| Stocks Spread | 0.003 |
| Leverage | 1:50 |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
Cons
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
UnitedPips
"UnitedPips is ideal for traders seeking leveraged trading opportunities, the security of fixed spreads, and the flexibility to deposit, withdraw, and trade cryptocurrencies - all in one sleek TradingView-powered platform."
UnitedPips Quick Facts
| Bonus Offer | 40% Deposit Bonus |
|---|---|
| FTSE Spread | NA |
| GBPUSD Spread | 1.3 |
| Stocks Spread | NA |
| Leverage | 1:1000 |
| Regulator | IFSA |
| Platforms | UniTrader |
| Account Currencies | USD |
Pros
- Although being handed off mid-chat due to shift changes during testing was frustrating, customer support is generally good with quick, helpful responses, and 24/7 support via phone and email for regional teams is a definite advantage.
- UnitedPips offers impressive leverage up to 1:1000 with zero swap fees or commissions, which can enhance potential returns for day traders and swing traders looking to control prominent positions with less capital.
- UnitedPips’ platform performs well, with an intuitive design that will appeal to beginners, while the TradingView integration delivers powerful charting tools without overwhelming users, making it straightforward to execute trades efficiently.
Cons
- UnitedPips lacks comprehensive research, while the educational content for beginner traders is woeful. Compared to brokers like eToro, which offers tutorials, webinars, and advanced courses, UnitedPips offers minimal resources to help new traders understand key concepts.
- Unlike brokers such as IG, UnitedPips is an offshore broker not regulated by any 'green tier' financial authorities, raising concerns for traders seeking assurance and protection under well-established regulatory frameworks.
- UnitedPips' selection of tradable instruments is still minimal, comprising a bare minimum selection of forex, metals and crypto. There are no equities, indices or ETFs, which may be a drawback for experienced traders looking for diverse opportunities.
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
RedMars Quick Facts
| FTSE Spread | 15 |
|---|---|
| GBPUSD Spread | 0.7 |
| Stocks Spread | Variable |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Regulator | CySEC, AFM |
| Platforms | MT5 |
| Account Currencies | USD, EUR |
Pros
- The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies
- The broker is one of a limited number of firms to offer an account specially designed for VIPs with premium support and invites to exclusive events
- Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
Cons
- RedMars falls short for newer traders, with little in the way of education, no beginner-friendly platform, a steep minimum deposit, and inadequate support during testing
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
- While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| FTSE Spread | 1.4 |
| GBPUSD Spread | 0.8 |
| Stocks Spread | N/A |
| Leverage | 1:500 |
| Regulator | IFMRRC |
| Platforms | Online Platform, TradingView |
| Account Currencies | USD, EUR |
Pros
- Keen traders can take part in trading contests with cash prizes
- The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
- The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
Cons
- The broker is not overseen by a respected regulator, though this is common among binary options firms
- IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
- There's no automated trading support for algo traders
Dukascopy
"If you’re an experienced trader, Dukascopy provides the tools you need: JForex for algorithmic strategies, competitive spreads from 0.1 pips, leverage up to 1:200, and the peace of mind of using a Swiss-regulated bank and broker."
Dukascopy Quick Facts
| Bonus Offer | 10% Equity Bonus |
|---|---|
| FTSE Spread | 100 |
| GBPUSD Spread | 0.1 |
| Stocks Spread | 0.1 |
| Leverage | 1:200 |
| Regulator | FINMA, JFSA, FCMC |
| Platforms | JForex, MT4, MT5 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN |
Pros
- Dukascopy offers tight spreads starting from 0.1 pips, leverage up to 1:200 (depending on the jurisdiction), and volume-based commissions that reward high-frequency traders.
- Dukascopy features some of the best research we’ve seen, even a professional TV studio in Geneva covering financial news, market analysis, and daily insights from professionals.
- Dukascopy is regulated by the Swiss Financial Market Supervisory Authority (FINMA) as both a broker and a bank, ensuring top-tier financial security and adherence to strict standards.
Cons
- Dukascopy's withdrawal fees are higher than most competitors we’ve tested, particularly for bank wire transfers, which may deter traders who require frequent access to their funds.
- While Dukascopy provides some educational resources and 24/7 support, the complexity of its platforms and tools required extensive testing and may overwhelm newer traders.
- Some account types, such as the MT4/MT5 accounts, require a higher minimum deposit of $1,000, which may not be ideal for traders with smaller budgets.
Capitalcore
"The major selling points of Capitalcore are its high leverage options up to 1:2000 and zero commission or swap fees. However, its weak regulatory oversight from the IFSA and non-existent education place it far behind the top brokers."
Capitalcore Quick Facts
| Bonus Offer | 40% Deposit Bonus up to $2,500 |
|---|---|
| FTSE Spread | 25 |
| GBPUSD Spread | 0.5 |
| Stocks Spread | 1.5 (Apple) |
| Leverage | 1:2000 |
| Regulator | IFSA |
| Platforms | WebTrader, Pro |
| Account Currencies | USD |
Pros
- The support team are available 24/7 and responded within minutes during testing with helpful responses.
- Capitalcore has added binary options trading on 30+ currency pairs, metals and crypto with one-click trading and payouts up to 95%.
- Unlike most brokers, Capitalcore offers an unlimited demo account that takes under 5 minutes to open.
Cons
- Capitalcore is not regulated by major financial authorities and has an unproven reputation, raising concerns about the safety of client funds.
- Platform support is limited to proprietary software, so there's no integration with the market-leading MetaTrader or cTrader, which offer built-in economic news and support automated trading.
- Capitalcore’s threadbare education and research seriously trail category leaders like IG, making it less suitable for aspiring traders.
Binary Options Alternative 2: Vanilla Options
Vanilla options are a popular derivative due to their high payouts and ability to cash settle. This also makes them one of the best alternatives to binary options.
Markets
Options are a primarily US-focussed instrument for making predictions about single stocks. Also available are indices and some commodities.
Complexity
Understanding regular options is more complex vs learning binary options. Contract prices are determined by a set of complex variables referred to as the Greeks, and investors need to be equipped with knowledge of financial concepts such as implied volatility and hedge ratios.
Profit & Loss Potential
Unlike binary options, there are no limits on the profit investors can make with a successful options trade. Options contracts also contain high innate leverage, with one contract based on 100 units of an asset.
However, with this potential for high rewards comes unlimited risk.
Fees & Commissions
Several brokers specialize in low-cost options trading– shop around to find competitive fees and commissions.
Safety & Regulation
Vanilla options are a highly regulated instrument versus some of the other binary options alternatives listed in this guide. When trading with a trusted broker, investors can trade this binary options alternative with confidence.
Strategies
Investors can choose to write options contracts or purchase them from an exchange as speculative assets or for hedging existing trades. Options spreads can be used to profit from various trading metrics such as volatility or direction.
Traders can also sell covered calls to lock in smaller but safer profits consistently– a strategy available with binary options.
Vanilla Options Brokers
Here is a short summary of why we think each broker belongs in this top list:
- NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- eToro USA - eToro is a social investing platform that offers short-term and long-term trading on stocks, ETFs, options and crypto. The broker is well-known for its user-friendly community-centred platform and competitive fees. With FINRA and SIPC oversight and millions of users across the world, eToro is still one of the most respected brands in the industry. eToro securities trading is offered by eToro USA Securities, Inc.
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
- Firstrade - Firstrade is a US-headquartered discount broker-dealer with authorization from the SEC. The company is also a member of FINRA/SIPC. With welcome bonuses, powerful tools and apps, plus commission-free trading, Firstrade Securities is a popular and top-tier online brokerage. It is also quick and easy to open a new account.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
NinjaTrader Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Stocks, Options, Commodities, Futures, Crypto |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD |
Pros
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
- You can get thousands of add-ons and applications from developers in 150+ countries
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
Cons
- The premium platform tools come with an extra charge
- Non forex and futures trading requires signing up with partner brokers
- There is a withdrawal fee on some funding methods
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries, most recently the Saudi Stock Exchange.
- While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0.
- The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
Cons
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, Crypto |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $100 |
| Minimum Trade | $10 |
| Account Currencies | USD |
Pros
- A free demo account means new users and prospective day traders can try the broker risk-free
- The low minimum deposit and straightforward account opening process means beginners can get started quickly
- eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
Cons
- There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
- Average fees may cut into the profit margins of day traders
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
Cons
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
Moomoo
"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."
Moomoo Quick Facts
| Bonus Offer | Get up to 15 free stocks worth up to $2000 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, ADRs, OTCs |
| Regulator | SEC, FINRA, MAS, ASIC, SFC |
| Platforms | Desktop Platform, Mobile App |
| Minimum Deposit | $0 |
| Minimum Trade | $0 |
| Leverage | 1:2 |
| Account Currencies | USD, HKD, SGD |
Pros
- The broker offers access to extended pre-market trading hours
- There are reduced options contract fees from $0.65 to $0
- There is no minimum deposit requirement making the broker accessible for beginners
Cons
- There is no phone or live chat support - common options at most other brokers
- There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
- It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
Firstrade
"Firstrade is perfect for beginners looking to trade US stocks with zero commissions. There is a wealth of free education plus premium-quality research, notably through its latest FirstradeGPT tool, plus trading ideas from Morningstar, Briefing.com, Zacks and Benzinga."
Firstrade Quick Facts
| Bonus Offer | Deposit Bonus Up To $4000 |
|---|---|
| Demo Account | No |
| Instruments | Stocks, ETFs, Options, Mutual Funds, Bonds, Cryptos, Fixed |
| Regulator | SEC, FINRA |
| Platforms | TradingCentral |
| Minimum Deposit | $0 |
| Minimum Trade | $1 |
| Account Currencies | USD |
Pros
- One of the first brokers to add AI-powered analysis through FirstradeGPT
- Highly trusted US-regulated brokerage and SIPC member
- Enhanced stock trading environment with overnight trading and fractional shares added
Cons
- Customer support still needs work following testing with no 24/7 assistance
- No demo/paper trading account found at over 90% of alternatives evaluated
- Visa credit/debit card deposits and withdrawals are not accepted
Binary Options Alternative 3: Futures
Futures are one of the most unique alternatives to binary options and forex trading. These are agreements to buy or sell an asset for a set price at a specific time. These derivatives were primarily used within the commodities industry as a hedge against future price fluctuations but are now a well-used financial instrument for many markets.
This type of trading involves the delivery of physical assets at expiry. It is exchange-traded rather than sold over-the-counter (OTC). Futures contracts are primarily associated with US markets, but EU and UK investors can still get involved.
Markets
While futures were first used on commodity markets such as cattle, wheat and orange juice, this instrument has expanded to cover assets like equities and cryptocurrencies.
Complexity
Futures are a fairly complex product compared to binary options. Though, with a thorough education, these contracts offer far greater strategic potential and can form a vital element of an expert investor’s trading arsenal.
Profit & Loss Potential
Futures contracts typically involve 1,000 units of a specific asset, and most futures brokers offer the opportunity to trade on margin for enhanced trading leverage. This gives investors the chance to make significant trading profits or losses.
It is with mentioning that futures can also be utilized to hedge against spot instruments to reduce risk.
Fees & Commissions
Fees for futures contracts can be higher than other instruments and binary options alternatives. However, traders will often receive a fee discount for high-volume trading or creating high-capital accounts.
Holding positions overnight will also come with swap fees, so this binary options alternative is best utilized for day trading or short-term swing trading.
Safety & Regulation
As with many binary options alternatives for US citizens, American futures contracts are regulated by the CTFC. Combined with the exchange-traded nature of futures contracts, this instrument is one of the safest to trade vs binary options.
Strategies
Regarding strategy, most traders will not hold futures contracts until expiry but look to resell their positions before the contract is automatically closed out. This is to avoid having to take delivery of the physical asset, such as barrels of oil.
Futures pricing can swing dramatically based on news and events, so acting quickly to any upcoming market changes will pay dividends with this instrument.
Futures Brokers
This is why we think these brokers are the best in this category in 2025:
- Plus500 US - Plus500 is a well-established broker that entered the US market in 2021. Authorized by the CFTC and NFA, it provides futures trading on forex, indices, commodities, cryptocurrencies, and interest rates. With a 10-minute sign-up, a manageable $100 minimum deposit, and a straightforward web platform, Plus500 continues to strengthen its offering for traders in the US.
- NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
- Interactive Brokers - Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
- FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
- Capitalcore - Capitalcore is an offshore broker, based in Saint Vincent and the Grenadines and established in 2019. Traders can choose from four accounts (Classic, Silver, Gold, VIP) with lower spreads and larger bonuses as you move through the tiers. Where Capitalcore distinguishes itself is its high leverage up to 1:2000 and zero swap fees, though these don’t compensate for the weak oversight from the IFSA and paltry education and research.
- Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
Plus500 US
"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."
Michael MacKenzie, Reviewer
Plus500 US Quick Facts
| Bonus Offer | Welcome Deposit Bonus up to $200 |
|---|---|
| Demo Account | Yes |
| Instruments | Futures on Cryptocurrencies, Metals, Agriculture, Forex, Interest rates, Energy, Equity Index future contracts |
| Regulator | CFTC, NFA |
| Platforms | WebTrader, App |
| Minimum Deposit | $100 |
| Minimum Trade | 0.0 Lots |
| Account Currencies | USD |
Pros
- The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader
- The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts
- The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
Cons
- Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
- The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
- Despite competitive pricing, Plus500 US lacks a discount program for high-volume day traders, a scheme found at brokers like Interactive Brokers
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
NinjaTrader Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Forex, Stocks, Options, Commodities, Futures, Crypto |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD |
Pros
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
- Traders can get free platform access and trade simulation capabilities in the unlimited demo
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
Cons
- The premium platform tools come with an extra charge
- Non forex and futures trading requires signing up with partner brokers
- There is a withdrawal fee on some funding methods
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | $100 |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
Cons
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Stocks, Futures, Futures Options |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:50 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
Cons
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- There’s no negative balance protection for US clients, so you may find yourself owing more money than your initial deposit into your account.
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
Capitalcore
"The major selling points of Capitalcore are its high leverage options up to 1:2000 and zero commission or swap fees. However, its weak regulatory oversight from the IFSA and non-existent education place it far behind the top brokers."
Capitalcore Quick Facts
| Bonus Offer | 40% Deposit Bonus up to $2,500 |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, Metals, Stocks, Cryptos, Futures Indices, Binary Options |
| Regulator | IFSA |
| Platforms | WebTrader, Pro |
| Minimum Deposit | $10 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:2000 |
| Account Currencies | USD |
Pros
- The support team are available 24/7 and responded within minutes during testing with helpful responses.
- Unlike most brokers, Capitalcore offers an unlimited demo account that takes under 5 minutes to open.
- Capitalcore is one of the only brokers to charge zero swap fees, which may appeal to Islamic traders looking to comply with Islamic Finance.
Cons
- Platform support is limited to proprietary software, so there's no integration with the market-leading MetaTrader or cTrader, which offer built-in economic news and support automated trading.
- Capitalcore is not regulated by major financial authorities and has an unproven reputation, raising concerns about the safety of client funds.
- Capitalcore’s threadbare education and research seriously trail category leaders like IG, making it less suitable for aspiring traders.
Moomoo
"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."
Moomoo Quick Facts
| Bonus Offer | Get up to 15 free stocks worth up to $2000 |
|---|---|
| Demo Account | Yes |
| Instruments | Stocks, Options, ETFs, ADRs, OTCs |
| Regulator | SEC, FINRA, MAS, ASIC, SFC |
| Platforms | Desktop Platform, Mobile App |
| Minimum Deposit | $0 |
| Minimum Trade | $0 |
| Leverage | 1:2 |
| Account Currencies | USD, HKD, SGD |
Pros
- There is no minimum deposit requirement making the broker accessible for beginners
- The broker offers access to extended pre-market trading hours
- Moomoo is a Member of FINRA and the Securities Investor Protection Corporation (SIPC), adding another level of security for prospective clients
Cons
- There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
- There is no phone or live chat support - common options at most other brokers
- It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
Binary Options Alternative 4: Spread Betting
One of the top instruments in our binary options alternatives examples is spread betting. Spread betting works similarly to CFD trading but comes with tax advantages in some regions as it is classed as gambling rather than trading.
Markets
As there are fewer spread betting brokers than CFD providers, there will be a smaller range of assets to choose from. However, spread betting speculation is still available for forex, indices, commodities, stocks and crypto markets.
Complexity
Spread betting is a reasonably straightforward instrument. However, expert traders can add complexity using order tools such as stop losses, take profit levels and automated trading bots.
Profit & Loss Potential
As with CFDs, traders can access significant leverage to multiply potential profits and losses when spread betting.
However, these levels are still likely lower than the high leverage available through international CFD brokers. This is because most spread betting providers are EU or UK-based and therefore have to comply with ESMA regulations limiting maximum margin.
Fees & Commissions
Fees and commissions are low with this alternative to binary options but will vary from broker to broker.
Safety & Regulation
Spread betting tends to be safer than CFDs and binary options due to the EU regulation of most brokers. In addition, as a more obscure field, fewer fraudulent providers are out there.
Strategies
As with CFDs, the range of strategies available is relatively limited. This binary options alternative is best suited to strong, short-term directional price movements, with significant profits available for successful speculation.
Spread Betting Brokers
Here is a summary of why we recommend these brokers in March 2025:
- AvaTrade - AvaTrade is a first-rate spread betting platform with opportunities on 1000+ stocks, indices, commodities and currencies, sporting leverage up to 1:400. The MetaTrader platforms cater to seasoned traders with advanced charting tools and alerts, while the extensive Academy is home to terrific education with 18 courses, 150 lessons, 50 quizzes and a video tutorial explaining how to spread bet at AvaTrade.
- Pepperstone - Pepperstone offers a competitive range of 1200+ spread betting instruments covering forex, indices, commodities, shares and ETFs. Spreads are some of the most competitive that we’ve seen during tests, starting from 0.6 pips for EUR/USD. Spread betting is also available on the MT4, MT5, cTrader and TradingView terminals, offering more platform flexibility than most alternatives.
- Spreadex - Spreadex stands out as one of the few brokers that specializes in spread betting, offering 10,000+ instruments (rivalling top contenders like IG with 17,000+). There’s also valuable spread betting education covering strategies, tips and analysis. With user-friendly TradingView charts and advanced order types, both beginners and experienced spread betters are well catered to.
- Trade Nation - Trade Nation offers hundreds of instruments via spread bets, though this notably trails top alternatives like CMC Markets (12,000+) and Spreadex (10,000+). We found the TN Trader platform to be a standout option for beginners during tests, thanks to its straightforward fixed-spread model. That said, offering just one platform for spread betting makes the broker more restrictive than most competitors.
- Vantage - Vantage continues to offer commission-free spread betting on forex, indices and precious metals. With 15 indices, including less commonly offered instruments like the VIX and Bovespa, Vantage is particularly suited to experienced equities traders. It’s also one of the few brokers that offers an unlimited demo account, allowing you to practice your strategies continuously.
- FxPro - Spread betters can access six asset classes through the FxPro's proprietary spread betting platform, Edge. Whilst it’s a shame that Edge is the only available terminal for spread betting, traders can access 50 technical indicators (more than MT4), plus an economic calendar and price alerts, providing a decent all-in-one spread betting environment. Customer support also performed well during tests, connecting us to an agent instantly and responding to our spread betting queries sufficiently.
AvaTrade
"AvaTrade offers active traders everything they need: an intuitive WebTrader, powerful AvaProtect risk management, a smooth 5-minute sign-up process, and dependable support you can rely on in fast-moving markets."
AvaTrade Quick Facts
| Bonus Offer | 20% Welcome Bonus up to $10,000 |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures |
| Regulator | ASIC, CySEC, FSCA, ISA, CBI, FSA, FSRA, BVI, ADGM, CIRO, AFM |
| Platforms | WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail) 1:400 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- Support at AvaTrade performed excellently during testing, with response times of 3 minutes and localized support in major trading jurisdictions, including the UK, Europe and the Middle East.
- AvaTrade continues to enhance its suite of products, recently through AvaFutures, providing an alternative vehicle to speculate on over 35 markets with low day trading margins.
- Years on, AvaTrade remains one of the few brokers offering a bespoke risk management tool, AvaProtect, that insures losses up to $1M for a fee and is easy to activate on the platform.
Cons
- AvaTrade’s WebTrader has improved, but work is still needed in terms of customizability – frustratingly widgets like market watch and watchlists can’t be hidden, moved, or resized.
- The AvaSocial app is good but not great – the look and feel, plus the navigation between finding strategy providers and account management needs upgrading to rival category leaders like eToro.
- While signing up is a breeze, AvaTrade lacks an ECN account like Pepperstone or IC Markets, which provides the raw spreads and ultra-fast execution many day traders are looking for.
Pepperstone
"Pepperstone stands out as a top choice for day trading, offering razor-sharp spreads, ultra-fast execution, and advanced charting platforms for experienced traders. New traders are also welcomed with no minimum deposit, extensive educational resources, and exceptional 24/7 support."
Pepperstone Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting |
| Regulator | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB |
| Platforms | MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower |
| Minimum Deposit | $0 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro) |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, CHF, HKD, SGD |
Pros
- Pepperstone has greatly improved the deposit and withdrawal experience in recent years, adding Apple Pay and Google Pay in 2025, as well as PIX and SPEI for clients in Brazil and Mexico in 2024.
- Pepperstone boasts impressive execution speeds, averaging around 30ms, facilitating fast order processing and execution that’s ideal for day trading.
- There’s support for a range of industry-leading charting platforms including MT4, MT5, TradingView, and cTrader, catering to various short-term trading styles, including algo trading.
Cons
- Pepperstone does not support cTrader Copy, a popular copy trading feature built into the excellent cTrader platform and available at alternatives like IC Markets, though it has introduced an intuitive copy trading app.
- Despite enhancements to its range of markets, crypto offerings are relatively limited compared to other brokers such as eToro, with no option to invest in real coins.
- Pepperstone’s demo accounts are active for only 30 days, which may not be not long enough to familiarize yourself with the different platforms and test trading strategies.
Spreadex
"Spreadex will appeal to UK day traders who are interested in both spread betting on financial markets and placing traditional bets on sports events. Fees are low on short trades and profits are tax-free on spread bets. There's also a powerful proprietary charting platform, plus £0 minimum deposit required to get started. "
Spreadex Quick Facts
| Bonus Offer | £300 cashback |
|---|---|
| Demo Account | No |
| Instruments | Forex, CFDs, Indices, Commodities, Stocks, Crypto, Bonds, Interest Rates, ETFs, Options, Spread Betting |
| Regulator | FCA |
| Platforms | Spreadex Platform, TradingView |
| Minimum Deposit | £0 |
| Minimum Trade | £0.01 |
| Leverage | 1:30 |
| Account Currencies | USD, EUR, GBP, CAD, CHF |
Pros
- Spreadex gives UK traders the opportunity to make tax-free profits through spread betting
- A rare broker that provides access to lower market cap stocks traded on the AIM
- There's an excellent range of instruments and trading vehicles for short-term traders
Cons
- The proprietary terminal lacks comprehensive charting features of platforms like MT4 and MT5
- The limited customer service can make it time-consuming to troubleshoot problems
- The lack of a demo account will frustrate prospective clients who want to test Spreadex's services
Trade Nation
"Trade Nation is a good choice for newer traders looking for a wide range of financial markets on a user-friendly platform. There is no minimum deposit, free funding options and strong education."
Trade Nation Quick Facts
| Bonus Offer | 200 Sign-Up Reward Points |
|---|---|
| Demo Account | Yes |
| Instruments | Forex, CFDs, Indices, Shares, Commodities, Futures, Bonds, Spread Betting, Cryptos (Bahamas Entity Only) |
| Regulator | FCA, ASIC, FSCA, SCB, FSA |
| Platforms | MT4 |
| Minimum Deposit | $0 |
| Minimum Trade | 0.1 Lots |
| Leverage | 1:500 (entity dependent) |
| Account Currencies | USD, EUR, GBP, AUD, ZAR, SEK, NOK, DKK |
Pros
- The trading firm offers tight spreads and a transparent pricing schedule
- Trade Nation is a multi-regulated and respected broker that previously operated as Core Spreads
- Full range of investments via leveraged CFDs for long and short opportunities
Cons
- Fewer legal protections with offshore entity
Vantage
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
Vantage Quick Facts
| Bonus Offer | 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme |
|---|---|
| Demo Account | Yes |
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds |
| Regulator | FCA, ASIC, FSCA, VFSC |
| Platforms | ProTrader, MT4, MT5, TradingView, DupliTrade |
| Minimum Deposit | $50 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:500 |
| Account Currencies | USD, EUR, GBP, CAD, AUD, NZD, JPY, HKD, SGD, PLN |
Pros
- Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
- It’s quick and easy to open a live account – taking less than 5 minutes
- Vantage caters to hands-off investors with beginner-friendly social trading via ZuluTrade & Myfxbook
Cons
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- The average execution speeds of 100ms to 250ms are slower than alternatives based on tests
FxPro
"FxPro is a stellar option for day traders, sporting exceptionally fast execution speeds under 12ms, competitive fees that were lowered in 2022, and terrific charting platforms in MT4, MT5, cTrader and FxPro Edge."
FxPro Quick Facts
| Demo Account | Yes |
|---|---|
| Instruments | CFDs, Forex, Stocks, Indices, Commodities, Futures, Spread Betting |
| Regulator | FCA, CySEC, FSCA, SCB, FSA |
| Platforms | FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade, Quantower |
| Minimum Deposit | $100 |
| Minimum Trade | 0.01 Lots |
| Leverage | 1:30 (Retail), 1:500 (Pro), 1:1000 (Via Prime Ash Capital Limited) |
| Account Currencies | USD, EUR, GBP, AUD, JPY, ZAR, CHF, PLN |
Pros
- FxPro operates under a 'No Dealing Desk' (NDD) model, ensuring fast and transparent order execution, often under 12 milliseconds, ideal for short-term trading strategies.
- FxPro offers four reliable charting platforms, notably the intuitive FxPro Edge, with over 50 indicators, 7 chart types and 15 chart timeframes.
- FxPro's Wallet is a standout feature that allows traders to manage funds securely. By segregating unused funds from active trading accounts, the Wallet provides additional protection and convenience.
Cons
- Despite a growing Knowledge Hub and a $10M funded demo account, FxPro is geared towards advanced traders, with beginners potentially finding the account and fee structure complex.
- There are no passive investment tools like copy trading or interest paid on cash. While active traders may not miss these, competitors like eToro catering to active and passive investors have more comprehensive offerings.
- While FxPro provides 24/5 customer support through multiple channels that performed well during testing, it lacks 24/7 availability, which can disadvantage traders needing assistance outside traditional market hours.
Binary Options Alternative 5: Stock Trading
Stock trading is the most simple and common form of trading and one of the most popular alternatives to binary options. Investors can purchase single stocks, ETFs or mutual funds containing hand-picked segments of specific sectors or global markets.
Markets
The best stock trading brokers will offer thousands of stocks from many international regions, with equities from the USA, EU and UK reasonably standard for all. Some brokers will support mutual fund investing, while others may focus solely on single stocks and ETFs for day trading.
Complexity
Suitable for beginners up to experts, stock trading offers opportunities for day trading, swing trading, long-term investing or earning profit from dividends. This can be as simple as buying a stock and holding it for an extended period to as complex as setting up an automated dividend portfolio targeting the biggest yielding companies in a region.
Profit & Loss Potential
While margin trading is possible through some brokers, most stock trading is done on cash accounts. As a result, stock trading does not typically offer as much profit potential as derivative assets such as binary options, CFDs or vanilla options.
Fees & Commissions
Of all the binary options alternatives available, stock trading has the most variance in its fees. Some brokers allow free investing, while others charge commissions per stock or a dealing fee per trade.
In addition, some more traditional brokers, specifically international companies, will charge account fees. To offset these, many regions, including the USA and UK, offer tax-advantaged stock accounts that investors can use for retirement or general savings.
Safety & Regulation
There is no shortage of highly regulated brokers when making a stock trading investment. Regional regulators also protect the equities themselves for additional peace of mind. This is a key benefit over some of the other binary options alternatives explored below, including crypto exchanges.
Strategies
One of the greatest strengths of stock investing is the flexibility afforded for trading. Traders can hold positions for an unrestricted period, going long or short on an asset.
With this binary options alternative, investors can target high dividend-yield stocks to be paid an income from holding equities. Or, traders can set up bots to buy and sell based on preset parameters. Investors can even hedge spot stocks with futures positions to reduce risk.
Stock Brokers
This is why we think these brokers are the best in this category in 2025:
- Interactive Brokers - IBKR provides access to an unparalleled array of equity products originating from 24 diverse countries. Whether seeking capital appreciation, dividends, or voting rights, you can directly invest in stocks. Alternatively, you can engage in speculative trading on price movements through CFDs, futures and more than 13,000 ETFs. IBKR also enhanced its European equity derivatives offering in 2024 by adding trading on CBOE Europe Derivatives (CEDX).
- eToro USA - You can trade 3000+ popular US stocks and ETFs at eToro US, with zero commissions and fractional shares available. The broker remains an excellent choice for beginner stock traders, thanks to its comprehensive eToro Academy and user-friendly stock market research features.
- NinjaTrader - Stocks can be traded by connecting the NinjaTrader platform to supporting brokers. The firm also provides access to a range of index futures via standard and micro contracts, including the E-Mini S&P 500 Index Futures and E-Mini Russell 2000 Index Futures.
- FOREX.com - FOREX.com provides access to a wide array of US, EU, and UK stock CFDs, featuring spreads as narrow as 1 point. This enables you to speculate on established household names and emerging IPOs, fostering ample opportunities for diversification within stock portfolios. US stocks are accessible from as low as 1.8 cents per share.
- Videforex - Trade binary options and CFDs on global stocks from US, European, Russian and Asian exchanges, as well as 37 indices covering a wide range of global markets. The access to stocks trumps many binary options brokers.
- RedMars - RedMars offers over 120 stock CFDs, covering popular US, UK and European markets. Commission-free trading on stocks is also available, providing straightforward pricing. However, there are zero stock screeners to aid trading decisions, while competitors like IG offer superior access to the stock market with over 17,000 shares.
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| Fractional Shares | Yes |
|---|---|
| Demo Account | Yes |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Minimum Deposit | $0 |
| Automation | Yes |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Stock Exchanges
Interactive Brokers offers trading on 16 stock exchanges:
- Borsa Italiana
- CAC 40 Index France
- Chicago Mercantile Exchange
- Euronext
- IBEX 35
- Japan Exchange Group
- Korean Stock Exchange
- London Metal Exchange
- London Stock Exchange
- Nasdaq
- Nasdaq Nordic & Baltics
- New York Stock Exchange
- Russell 2000
- Shenzhen Stock Exchange
- Tadawul
- Toronto Stock Exchange
Pros
- The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
Cons
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Fractional Shares | Yes |
| Demo Account | Yes |
| Regulator | SEC, FINRA |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $100 |
| Automation | Yes |
| Account Currencies | USD |
Stock Exchanges
eToro USA offers trading on 3 stock exchanges:
- Dow Jones
- New York Stock Exchange
- S&P 500
Pros
- The low minimum deposit and straightforward account opening process means beginners can get started quickly
- A free demo account means new users and prospective day traders can try the broker risk-free
- eToro USA Securities is a trustworthy, SEC-regulated broker that is a member of FINRA and SIPC
Cons
- Average fees may cut into the profit margins of day traders
- The proprietary terminal doesn't support trading bots and there are no additional stock market analysis tools
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
NinjaTrader Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Regulator | NFA, CFTC |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Automation | Yes |
| Account Currencies | USD |
Stock Exchanges
NinjaTrader offers trading on 2 stock exchanges:
- Chicago Mercantile Exchange
- New York Stock Exchange
Pros
- Traders can get free platform access and trade simulation capabilities in the unlimited demo
- You can get thousands of add-ons and applications from developers in 150+ countries
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
Cons
- The premium platform tools come with an extra charge
- There is a withdrawal fee on some funding methods
- Non forex and futures trading requires signing up with partner brokers
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| Fractional Shares | No |
| Demo Account | Yes |
| Regulator | NFA, CFTC |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Minimum Deposit | $100 |
| Automation | Yes |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Stock Exchanges
FOREX.com offers trading on 14 stock exchanges:
- Australian Securities Exchange (ASX)
- Borsa Italiana
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- FTSE UK Index
- Hang Seng
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- Nasdaq
- S&P 500
- SIX Swiss Exchange
Pros
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
Cons
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
Videforex
"Videforex will serve traders looking for a no-frills, easy-to-use platform to speculate on the direction of popular financial markets through binaries. With a sign-up process that takes a matter of minutes and a web-accessible platform, getting started is a breeze. "
Videforex Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Fractional Shares | No |
| Demo Account | Yes |
| Platforms | TradingView |
| Minimum Deposit | $250 |
| Automation | Yes |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Stock Exchanges
Videforex offers trading on 7 stock exchanges:
- Dow Jones
- FTSE UK Index
- Hong Kong Stock Exchange
- IBEX 35
- Nasdaq
- S&P 500
- SIX Swiss Exchange
Pros
- Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
Cons
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
RedMars
"RedMars is the best fit for experienced day traders familiar with the MetaTrader 5 platform and based in the EU, where the broker is authorized by the CySEC. However, the threadbare education and research tools make it unsuitable for beginners."
RedMars Quick Facts
| Fractional Shares | No |
|---|---|
| Demo Account | Yes |
| Regulator | CySEC, AFM |
| Platforms | MT5 |
| Minimum Deposit | €250 |
| Automation | Yes |
| Account Currencies | USD, EUR |
Stock Exchanges
RedMars offers trading on 15 stock exchanges:
- Australian Securities Exchange (ASX)
- CAC 40 Index France
- DAX GER 40 Index
- Dow Jones
- Euronext
- Hong Kong Stock Exchange
- IBEX 35
- Japan Exchange Group
- London Stock Exchange
- Nasdaq
- National Stock Exchange Of India
- New York Stock Exchange
- S&P 500
- Shanghai Stock Exchange
- Shenzhen Stock Exchange
Pros
- The broker supports a range of flexible payment methods, including wire transfers, credit cards, e-wallets, and notably cryptocurrencies
- Getting started on RedMars is incredibly easy - you can be up and running in just a few minutes based on tests
- RedMars offers one of the best platforms for day trading, MT5, hosting 21 timeframes, dozens of analytical tools, flexible templates and algo trading
Cons
- With just 300 instruments, RedMars offers a narrow trading environment, particularly compared to category leaders like BlackBull Markets which offers 26,000 assets
- While RedMars' spreads are within industry averages, they don't offer a significant edge over the cheapest day trading brokers we've personally used, notably IC Markets
- The no-frills trading environment offers little beyond the basics, with no Islamic account, PAMM account or copy trading.
Binary Options Alternative 6: Cryptocurrency
The newest market on this list, cryptocurrency products can be traded as derivatives through binary options, CFDs or spread betting. However, the asset class has far more utility to investors.
Markets
There are more and more crypto tokens being created at all times, with thousands of coins and projects in existence. While not all of these are legitimate, more cautious investors can stick to more well-known coins such as Bitcoin and Ethereum for greater peace of mind.
Complexity
Similarly to stock investing, cryptocurrency trading can be as simple or complex as a trader desires. Investors can buy and hold crypto tokens, stake them for interest or utilize bots on sites such as Pionex for round-the-clock automated trading.
Profit & Loss Potential
The crypto markets are notoriously volatile and have seen some meteoric price rises and falls in their brief history. Investors should be prepared for these conditions or even a complete collapse of a coin like Terra in 2022.
Fees & Commissions
Many exchanges offer very low, competitive fees on this binary options alternative. These are usually displayed in the form of maker and taker fees, often shown as a percentage.
Safety & Regulation
Crypto is almost entirely unregulated and scams are rife within the broker space and the coins themselves. As a result, more cautious investors may wish to avoid this binary options alternative or track selected crypto markets using a more secure ETF.
Strategies
Traders can buy and hold tokens long-term or take advantage of the volatile crypto markets to day trade.
Advanced strategies such as spot/futures arbitrage are available for major tokens such as BTC and ETH and can yield solid and low-risk returns.
Similarly to dividend investing, traders can stake crypto tokens for a fixed reward, with some providers offering upwards of 10% annual returns for this strategy.
Crypto Brokers
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1
NinjaTrader -
2
Plus500 USTrading with leverage involves risk. -
3
Interactive Brokers -
4
eToro USAeToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation -
5
OANDA USCFDs are not available to residents in the United States. -
6
UpholdTerms Apply. Cryptoassets are highly volatile. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.
This is why we think these brokers are the best in this category in 2025:
- NinjaTrader - You can get exposure to micro Bitcoin futures through the CME Group’s centralized exchange, which is highly regulated by the US CFTC. Micro contracts allow you to trade a fractional size of one Bitcoin, giving you more risk control and order flexibility.
- Plus500 US - Plus500’s Micro-Bitcoin and Micro-Ethereum futures only allow traders to scratch the surface of crypto trading with bets on the two most popular digital assets. Importantly, you cannot buy and own the cryptos with these derivative contracts - you are speculating on their price.
- Interactive Brokers - IBKR lets you purchase and hold Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at competitive commission rates and without needing a crypto wallet. Additionally, there is a range of other diverse assets to explore, such as crypto indices like the NYSE Bitcoin Index, as well as futures contracts like the BAKKT Bitcoin Futures.
- eToro USA - eToro US offers 24 tradeable cryptoassets, with just a 1% buying/selling fee added to the spread. Additionally, there are 80 different coins available through the broker’s proprietary wallet service. You can also practice your crypto strategies easily by switching between live and demo mode. Crypto asset investing is highly volatile and unregulated. No consumer protection. Tax on profits may apply.
- OANDA US - Cryptocurrency trading is offered via Paxos, a separate entity from Oanda. You can speculate on the world’s biggest cryptos by market cap. Commissions are lower than many peers starting at 0.25%. Through the broker’s partnership with Paxos, clients can spot trade cryptocurrencies on the itBit exchange through the OANDA native platform.
- Uphold - You can buy and sell 250+ crypto assets with fiat currencies or in crypto pairs using the straightforward mobile app or through Uphold's browser-based account homepage. This is significantly more than many rivals. You can also earn up to 16% APY by staking one or more out of 32 valid tokens, or send tokens to an external wallet.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
NinjaTrader Quick Facts
| Coins | BTC |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | Floating |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Minimum Deposit | $0 |
| Regulator | NFA, CFTC |
| Account Currencies | USD |
Pros
- You can get thousands of add-ons and applications from developers in 150+ countries
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
Cons
- There is a withdrawal fee on some funding methods
- The premium platform tools come with an extra charge
- Non forex and futures trading requires signing up with partner brokers
Plus500 US
"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."
Plus500 US Quick Facts
| Bonus Offer | Welcome Deposit Bonus up to $200 |
|---|---|
| Coins | MicroBitcoin, MicroEthereum |
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | WebTrader, App |
| Minimum Deposit | $100 |
| Regulator | CFTC, NFA |
| Account Currencies | USD |
Pros
- Plus500 US excels for its low fees with very competitive day trading margins and no inactivity fees, live data fees, routing fees, or platform fees
- The straightforward account structure, pricing model and web platform offer an easier route into futures trading than rivals like NinjaTrader
- The trading app provides a terrific user experience with a modern design, a clean layout and mobile-optimized charts
Cons
- The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
- While Plus500 US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks
- Plus500 US does not offer social trading capabilities, a feature available at alternatives like eToro US which could strengthen its offering for aspiring traders
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| Coins | BTC, LTC, ETH, XRP |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | 0.12%-0.18% |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, TradingView, eSignal, TradingCentral, ProRealTime, Quantower |
| Minimum Deposit | $0 |
| Regulator | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline.
- The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level.
Cons
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
eToro USA
"eToro remains a top pick for traders looking for leading social investing and copy trading services. With a low deposit, zero commissions and an intuitive platform, the broker will meet the needs of newer day traders."
eToro USA Quick Facts
| Bonus Offer | Invest $100 and get $10 |
|---|---|
| Coins | BTC, ETH, BCH, DASH, LTC, ETC, MIOTA, XLM, EOS, NEO, ZEC, XTZ, MKR, COMP, LINK, UNI, YFI, DOGE, AAVE, ALGO, MANA, ENJ, BAT, MATIC, FLR, SHIBxM |
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | BTC 0.75% |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | eToro Trading Platform & CopyTrader |
| Minimum Deposit | $100 |
| Regulator | SEC, FINRA |
| Account Currencies | USD |
Pros
- The low minimum deposit and straightforward account opening process means beginners can get started quickly
- A free demo account means new users and prospective day traders can try the broker risk-free
- Investors can access Smart Portfolios for a more hands-off approach, covering a range of sectors and markets such as renewable energy and artificial intelligence
Cons
- There's no MetaTrader 4 platform integration for traders who are accustomed to using third-party charting tools
- There's a narrower range of day trading instruments available compared to competitors, with only stocks, ETFs and cryptos
- Average fees may cut into the profit margins of day traders
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
OANDA US Quick Facts
| Coins | BTC, ETH, LTC, BCH, PAXG, LINK, UNI, AAVE |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | $100 |
| Crypto Lending | No |
| Crypto Staking | No |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Minimum Deposit | $0 |
| Regulator | NFA, CFTC |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- Beginners can get started easily with $0 minimum initial deposit
- There's a strong selection of 68 currency pairs for dedicated short-term forex traders
- Day traders can enjoy fast and reliable order execution
Cons
- There's only a small range of payment methods available, with no e-wallets supported
- The range of day trading markets is limited to forex and cryptos only
- It's a shame that customer support is not available on weekends
Uphold
"Uphold remains a top choice for crypto investors looking for a one-stop-shop solution to accessing the markets. There are over 250 tokens to buy, sell and trade through flexible platform options."
Uphold Quick Facts
| Coins | BTC, BTCO, AAVE, ALCX, DYDX, INH, XYO, API3, GHST, LSK, AUDIO, GLMR, NMR, CAKE, GODS, REQ, CHR, TRB, DAO, ROOK, XRP, ETH, BAT, ADA, ALGO, ATOM, AVAX, AXS, BCH, BAL, BTG, CSPR, COMP, CRV, DASH, DCR, DGB, DOGE, DOT, EGLD and many more |
|---|---|
| Crypto Mining | No |
| Auto Market Maker | No |
| Crypto Spread | Up to 1.5% |
| Crypto Lending | No |
| Crypto Staking | Yes |
| Platforms | Desktop Platform, Mobile App |
| Minimum Deposit | $0 |
| Account Currencies | USD, EUR, GBP |
Pros
- UK users can get the Uphold card with up to 2% cashback in XRP
- Over 250 cryptos are available including major tokens like Bitcoin and Ethereum
- Two-step authentication bolsters user security
Cons
- Uphold operates with limited regulatory oversight
- The charting analysis features on the platform trail specialist exchanges
- Customer service is slow based on tests, with limited contact options
Binary Options Alternatives: Further Considerations
Now you have discovered some of the popular alternatives to binary options, here is some additional information to consider to help you get started trading with one of these instruments.
Brokerages
When looking at binary options alternatives, choosing a brokerage is an essential step for safe and low-cost trading. Here are some general qualities to look out for to find the best brokers:
- Low Fees – A low-commission broker will help you keep more of your trading profits.
- Secure – Strong regulation and login protection measures such as two-factor authentication are highly preferable.
- Demo Account – If you are transitioning from binary options to an alternative instrument, you will likely need some practice. Our experts recommend choosing a broker with a free demo account.
- Customer Support – When looking to trade alternatives to binary options, look for a broker with a helpful and responsive customer service team. Reaching out via live chat to test this service before signing up is worth it.
- Trading Platforms – Serious investors need a capable and reliable trading platform available on Windows or Mac. We found that industry-standard software such as MT4 MT5, and TradingView are well suited to most traders with rich historical data and technical indicators. Those who want to trade on-the-go should also ensure their broker has an app to download for iOS or Android.
Education
The most straightforward binary options strategy is applicable for many of the alternatives in this article, which is going long or short on an asset. However, a more thorough education is required to gain an edge when using instruments such as standard options, stock trading and futures.
There are many trading courses, videos and guides on how to get started trading each of these binary options alternatives. We found that trading using a demo account is invaluable for traders new to a specific market or instrument.
Regional Considerations
While all these instruments trade on global markets, some binary options alternatives have regional restrictions. For example, CFDs are banned for Canadian and US residents and crypto derivatives are restricted for investors in the UK.
Additionally, binary options are classed as gambling in some jurisdictions, such as the UK. Therefore, they have tax advantages over other forms of trading. The rules on binary options and their alternatives will be different for other regions too, such as Australia, Korea, India, Germany, Canada and for US citizens.
Ensure you understand your local trading tax rules before getting started.
Final Word On Binary Options Alternatives
Investors that either cannot or do not want to trade using binary options are spoilt for choice in their alternatives. Trading methods such as CFDs and spread betting offer similar types of speculation but with key differences such as uncapped losses and gains. Traders can also draw upon instruments such as futures and vanilla options for more advanced investing in a more secure and regulated space.
FAQs
Which Alternatives To Binary Options Suit Day Trading?
Some of the most popular alternatives to binary options for day trading are stock trading, CFDs and spread betting. These formats allow investors to capitalize on intra-day price movements, often with high leverage.
Which Binary Options Alternatives Are Halal?
Whether an instrument is halal or haram can depend on the specific trading strategy or the account used. For example, Muslim CFD traders can open special Islamic accounts to comply with their religious principles, while crypto staking is more of a grey area.
Are Alternatives To Binary Options Good Or Bad?
There are several benefits and disadvantages to alternative trading methods to binary options. Almost all binary options alternatives benefit from greater regulatory oversight, security, and payout potential. However, binary options are simple and have capped losses to prevent investors from losing more than they stake.
Are Binary Options The Same As Options?
Binary options are less complex than traditional options but offer lower potential rewards for a successful trade. When comparing binary options vs regular options, these methods suit different market conditions and trader profiles.
Do Binary Options Alternatives Come With Demo Accounts?
Demo accounts are key for traders wanting to learn new markets or instruments. They are commonly offered to investors when trading CFDs, stocks or binary options. However, they may be harder to come by for alternatives such as futures and cryptos.