Best Binary Options Apps
Binary options apps take the simplicity and easy understanding of binary trading and makes it even more convenient, with a downloadable application for mobile devices. Nowadays, binary trading apps offer many of the same features as traditional platforms like signals and demo accounts for experimental trading. Read on to find out if binary options apps are for you and how to decide which one to download.
Top 8 Binary Options Apps
In our tests we have found that these are the 8 best binary trading apps on the market:
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1
Pocket OptionApps for iOS & Android50% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash, AirtelUSD -
2
IQCentApps for iOS & Android20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
3
CloseOptionApps for iOS & Android$10 Welcome Gift
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$5$1National Bank of GeorgiaBinary Options on Forex & CryptosOwnPayPal, WebMoney, Mastercard, Perfect Money, Wire Transfer, Bitcoin Payments, Ethereum PaymentsUSD -
4
VideforexApps for Android20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB -
5
BinariumApps for iOS & Android
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$5$1Forex, Stocks, CryptosOwnQIWI, Yandex Money, Bitcoin Payments, Neteller, WebMoney, Wire Transfer, Visa, Mastercard, Credit Card, Debit CardUSD, EUR, AUD, RUB -
6
BinaryCentApps for iOS, Android20% - 200% deposit bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500VFSCCFDs, Forex, Stocks, Cryptos, Options, CommoditiesOwnVisa, Mastercard, Debit Card, Credit Card, Skrill, WebMoney, Neteller, Bitcoin Payments, Wire Transfer, Perfect Money, Ethereum PaymentsUSD -
7
World ForexApps for iOS, Android + Web Browser100% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10.01 Lots1:1000SVGFSAForex, CFD Stocks, Metals, Energies, Cryptos, Digital ContractsMT4, MT5Wire Transfer, Debit Card, Credit Card, Visa, Mastercard, Google Wallet, Apple Pay, Perfect Money, Bitcoin Payments, VoletUSD, EUR, RUB -
8
RaceOptionApps for iOS & Android20% - 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500Binary Options, CFDsTradingViewCredit Card, Debit Card, Bitcoin Payments, Neteller, Skrill, Perfect Money, Mastercard, Visa, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB
Here is a short summary of why we think each broker belongs in this top list:
- Pocket Option - Pocket Option delivers an excellent mobile trading experience directly through mobile and tablet browsers, without needing a native app. You can easily customize charts using the settings at the top while placing trades in one click is a breeze using the ‘higher’ and ‘lower’ buttons at the bottom of the screen. The interface also adapts seamlessly to horizontal viewing, mirroring the desktop layout for a consistent user experience.
- IQCent - IQCent offers mobile trading directly through major browsers with an intuitive design that we love. You can navigate your account, browse assets and trade binaries in a few clicks. Straightforward access to the copy trading feature at the bottom is also a bonus, alongside the interactive charts which you can pinch to zoom.
- CloseOption - CloseOption’s TradeRoom stands out as a fantastic option for beginners, with its streamlined design minimizing the learning curve. It’s super easy to place short-term trades from 5 seconds with basic charting tools at your disposal. Tutorials and frequent updates with video demonstrations also enhance the experience, while weekly contests are available to skilled traders on the go.
- Videforex - Videforex stands out with its comprehensive and user-friendly mobile trading solution, offering short-term binaries across a wide range of assets. The web-accessible application is fast, intuitive, and perfect for beginners, complete with a helpful guide upon first use. Videforex’s ongoing enhancements, including the addition of candlestick charts for technical analysis, further enrich the user experience.
- Binarium - Binarium offers a mobile app that should provide an optimal trading experience on the go. However, we’ve observed worrying complaints of deposits not showing in account balances despite multiple requests to the support team. So, despite a very modern interface and capable charting tools, it trails industry leaders.
- BinaryCent - BinaryCent, like most binary brokers, doesn’t offer its own app – just trading through mobile browsers. In this instance, the result is an average workspace with relatively crisp graphics, one-tap trading and access to copy trading from the menu at the bottom. However, charts don’t optimize well when you turn the device horizontally and the pop-up promotions were distracting during testing, detracting from the overall user experience.
- World Forex - The WorldForex Trader Lite app offers very basic mobile trading capabilities. It took upwards of 30+ minutes just to get access to the trading app, with a frustrating process to open an account. The mobile interface itself has a subpar look and feel, encompassing basic charts and order windows. The other issue is that it’s slow and sometimes lags when you move between features and place trades. Ultimately, it trails category leaders.
- RaceOption - Despite a couple of connection issues during testing, the RaceOption mobile trading solution overwhelmingly delivers. All the settings you need to amend binary parameters are available around the chart and it’s as simple as clicking the ‘Up’ and ‘Down’ buttons to confirm a trade. Clicking ‘My Trades’ in the bottom left of the mobile interface also makes monitoring multiple trades a hassle-free exercise.
Best Binary Options Apps Comparison
| Broker | iOS Rating | Android Rating | Minimum Deposit | Binary Payouts | Bonus |
|---|---|---|---|---|---|
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/ 5 | / 5 | $50 | 92% | 50% Deposit Bonus |
|
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/ 5 | / 5 | $250 | 98% | 20% to 200% Deposit Bonus |
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/ 5 | / 5 | $5 | 95% | $10 Welcome Gift |
|
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/ 5 | / 5 | $250 | 98% | 20% to 200% Deposit Bonus |
|
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/ 5 | / 5 | $5 | 80% | - |
|
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/ 5 | / 5 | $250 | 95% | 20% - 200% deposit bonus |
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/ 5 | / 5 | $1 | 100% | 100% Deposit Bonus |
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/ 5 | / 5 | $250 | 95% | 20% - 200% Deposit Bonus |
Pocket Option
"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Jemma Grist, Reviewer
Pocket Option Quick Facts
| Bonus Offer | 50% Deposit Bonus |
|---|---|
| Minimum Deposit | $50 |
| Payout % | 92% |
| Expiry Times | 5 seconds - 4 hours |
| Copy Trading | Yes |
| Platforms | Web, MT4, MT5 |
| Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
| Mobile Apps | iOS & Android |
| iOS App Rating | / 5 |
| Android App Rating | / 5 |
| Demo Account | Yes |
| Account Currencies | USD |
Pros
- Extremely fast and smooth sign-up process that takes less than 2 minutes
- The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
- The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
Cons
- Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
- The MISA is a weak regulator with limited investor protection for retail traders
- Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
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 |
|---|---|
| Minimum Deposit | $250 |
| Payout % | 98% |
| Expiry Times | 5 seconds - 1 month |
| Copy Trading | Yes |
| Platforms | Online Platform, TradingView |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Mobile Apps | iOS & Android |
| iOS App Rating | / 5 |
| Android App Rating | / 5 |
| Demo Account | Yes |
| Account Currencies | USD, EUR |
Pros
- CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
- The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
- The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
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
- IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
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 |
|---|---|
| Minimum Deposit | $5 |
| Payout % | 95% |
| Expiry Times | 30 seconds - 1 month |
| Copy Trading | No |
| Platforms | Own |
| Instruments | Binary Options on Forex & Cryptos |
| Mobile Apps | iOS & Android |
| iOS App Rating | / 5 |
| Android App Rating | / 5 |
| Demo Account | Yes |
| Account Currencies | USD |
Pros
- Multiple global payment methods are available
- Free demo account
- New traders can get started with a $5 minimum deposit
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 |
|---|---|
| Minimum Deposit | $250 |
| Payout % | 98% |
| Expiry Times | 5 seconds - 1 month |
| Copy Trading | Yes |
| Platforms | TradingView |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Mobile Apps | Android |
| iOS App Rating | / 5 |
| Android App Rating | / 5 |
| Demo Account | Yes |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- 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 regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
Cons
- 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.
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
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
| Minimum Deposit | $5 |
|---|---|
| Payout % | 80% |
| Copy Trading | No |
| Platforms | Own |
| Instruments | Forex, Stocks, Cryptos |
| Mobile Apps | iOS & Android |
| iOS App Rating | / 5 |
| Android App Rating | / 5 |
| Demo Account | Yes |
| Account Currencies | USD, EUR, AUD, RUB |
Pros
- 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.
- 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.
Cons
- 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.
- 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.
BinaryCent
"Traders who want a reliable binary options broker with a streamlined platform and high payouts should try out BinaryCent."
BinaryCent Quick Facts
| Bonus Offer | 20% - 200% deposit bonus |
|---|---|
| Minimum Deposit | $250 |
| Payout % | 95% |
| Expiry Times | 5 seconds - 30 days |
| Copy Trading | Yes |
| Platforms | Own |
| Instruments | CFDs, Forex, Stocks, Cryptos, Options, Commodities |
| Mobile Apps | iOS, Android |
| iOS App Rating | / 5 |
| Android App Rating | / 5 |
| Demo Account | Yes |
| Account Currencies | USD |
Pros
- Copy trading and binary options bots are useful for beginner traders
- Payouts up to 95% are higher than most competitors and increases profit potential
- Simple and straightforward proprietary platform for binary options trading
Cons
- Not overseen by any reputable regulator, raising risks and reducing customer protections
- Not available to traders based in the US
- The $250 minimum deposit is higher than most binary options brokers
World Forex
"World Forex provides both highly leveraged CFDs and digital contracts, making this a good broker for clients who want flexible and rewarding ways to trade. The copy trading service will also appeal to newer traders."
World Forex Quick Facts
| Bonus Offer | 100% Deposit Bonus |
|---|---|
| Minimum Deposit | $1 |
| Payout % | 100% |
| Expiry Times | 1 minute - 7 days |
| Copy Trading | Yes |
| Platforms | MT4, MT5 |
| Instruments | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Mobile Apps | iOS, Android + Web Browser |
| iOS App Rating | / 5 |
| Android App Rating | / 5 |
| Demo Account | Yes |
| Account Currencies | USD, EUR, RUB |
Pros
- A wide range of assets to trade, including via digital contracts
- VPS hosting
- Swap-free account available
Cons
- Weak regulation
- Withdrawal fees apply
- No negative balance protection
RaceOption
"RaceOption will appeal to investors looking for a feature-rich binary options trading experience with regular contests, account-based perks, and copy trading. The catch is its unregulated status, with little to zero investor protections available based on our investigations."
RaceOption Quick Facts
| Bonus Offer | 20% - 200% Deposit Bonus |
|---|---|
| Minimum Deposit | $250 |
| Payout % | 95% |
| Expiry Times | 5 seconds - 30 days |
| Copy Trading | Yes |
| Platforms | TradingView |
| Instruments | Binary Options, CFDs |
| Mobile Apps | iOS & Android |
| iOS App Rating | / 5 |
| Android App Rating | / 5 |
| Demo Account | Yes |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- Payouts on popular underlying assets like EUR/USD can reach 95%, beating out most alternatives based on our evaluations, and increasing potential returns, while the first 3 trades are risk-free in Silver and Gold accounts.
- RaceOption is in the less than 1% of brokers that offers video chat, available 24/7 in multiple languages, although the knowledge of agents about trading and regulatory issues needs improvement from our direct experience.
- RaceOption makes account funding a breeze with fee-free and near-instant deposits via bank cards and cryptos, plus guaranteed withdrawals processing within 1 hour.
Cons
- RaceOption is an unregulated, high-risk broker that doesn’t provide investor compensation or legal recourse options should you run into trading or withdrawal issues.
- While still affordable for many retail investors, the $250 minimum deposit raises the entry barrier, especially compared to Deriv and World Forex who are designed for budget traders.
- RaceOption is one of the only brokers not to offer a demo account, which when considered alongside the absence of education, makes this broker a poor choice for beginners.
How Binary Options Apps Work
Traditionally, binary options contracts are created using trading software or a web-based platform on a computer or laptop. Now, many brokers offer apps for binary options contracts trading on the go. These allow a streamlined trading experience for mobile users, allowing them to monitor and place contracts from their iOS or Android (APK) devices.
Binary options trading apps are condensed versions of the platform brokers use for desktop trading. These are optimised for the smaller screens and touchscreen function of a mobile device. Binary apps will offer limited features compared to full software but are typically easier to navigate and use.
The best place to download a binary options trading app is a mobile platform’s app store, with an extensive range of applications available for both Android and iOS devices.
Pros Of Binary Options Apps
- A Good Fit – Of all the types of options trading, the best suited to mobile app trading is binary options. Thanks to the relative simplicity and capped losses of these contracts, all relevant data for a specific trade is displayed easily through a mobile platform.
- Faster Trading – The best binary options apps will offer widgets that can be added to the home screen of a mobile device. These widgets are set to monitor a specific market of interest and can be used to quickly purchase contracts on an asset of interest. Many browser-based platforms and trading software tools require traders to sign in and load up a specific trade when they have been away from their computer. Widgets allow much faster access to trading through binary options contracts applications.
- Alerts & Push Notifications – Traders that use mobile binary options platforms can set up push notifications to alert them when certain market parameters are met. In addition to this, the best applications will send their users relevant news and other signals through alerts. These alerts can help traders spot and act on profitable market trends that they might otherwise have missed.
- On-The-Go Trading – The importance of having access to the markets at all times cannot be understated. For assets that trade constantly, such as cryptos, the enhanced accessibility offered by mobile applications for binary options trading is particularly valuable.
- Enhanced Monitoring – The monitoring capabilities of options trading apps can be extremely useful to traders. Tracking the progress of open contracts is a feature many users will find appealing, as well as the ability to monitor the markets wherever you are.
- Ease Of Use – Because of the reduced platforms of binary options apps, the trading process is necessarily simplified. A byproduct of this is that mobile applications will be easier to use for new traders. Sometimes new investors are intimidated by the more complex arrangements in web-based or software platforms. Using a binary options app is a great way to simplify things.
Cons Of Binary Options Apps
There are a few drawbacks of binary options trading with apps:
- Less Information & Tools – Because of the condensed nature of binary options apps, there may be less information available to traders on an asset or market. Indeed, simultaneous monitoring of multiple assets will often be impossible when trading with an app, as will advanced chart analysis tools.
- Reduced Automation Capabilities – Through third party trading software, binary options can benefit from automation, which enhances the speed and efficacy of trading, spotting preset market conditions and executing trading strategies independently. When trading from a mobile platform, the potential for automation will be reduced or even eliminated.
- Hardware Compatibility – Some binary options trading apps may have launched on only iOS or Android devices and your preferred broker may not have an app for your chosen mobile ecosystem. This will also limit traders that wish to change between the two platforms but keep the same apps for binary options trading.
- Limited Capability For Complex Trading – More experienced traders may wish to complete simultaneous trades or hedge their binary options contracts. Binary options applications will have reduced efficacy when completing these advanced trades compared to a computer-based platform. Some mobile applications may not support advanced binary options variants either, though this will depend on the specific broker.
How To Compare Binary Options Apps
Safety & Reliability
One of the top priorities for binary options trading apps is how reliable both the application and broker are. When looking to trade binary options it is imperative to pick a broker that is legitimate and reliable. Look out for those that are certified by independent governing bodies as well as those with positive reviews from trusted sites.
When browsing binary options apps, reviews are also a great place to start. User reviews on an app store will often detail any issues with an app, such as freezing or crashing. Additionally, apps with frequent updates will likely be more stable and less prone to problems. Safety-conscious traders may favour those with two-factor authentication (2FA) capabilities to offer maximum security to their trading account.
Mobile Platform
Before committing to an attractive broker for binary options trading, it is crucial to check whether they offer an app on your specific mobile platform app store. Several brokers may offer an app on either iOS or Android devices but not both.
Supported Markets & Assets
Binary options contracts have become very popular throughout the trading sphere. As a result, contracts are offered on a wide range of markets and assets. Binary options apps can be specialised for only one of these markets or may instead offer a range of markets.
This difference means that one app may not be perfect for every trader. The best binary options trading applications for each trader will depend on their specific trading needs. Some people may only want to open binary options contracts on cryptocurrencies like Bitcoin and Ethereum. These traders may find that a specialised cryptocurrency platform will offer more advanced features specific to crypto, or feature a greater range of digital assets to trade.
Other users may want to trade in multiple markets. They can choose to select several specific apps for each market or find binary trading apps that support all of their needs.
Fees & Minimum Deposits
When it comes to trading brokerages and apps, the most appealing aspects to traders are often low fees and minimum deposit amounts. Binary options apps are no exception. If you are new to trading or looking to wager smaller amounts, we advise you to begin with smaller contracts and less risk. To facilitate this, you should look for applications with low minimum deposit limits.
More experienced binary options traders often want to trade with more capital. Whether this means trading a greater volume of contracts or wagering more funds per contract, fees will add up quickly. Therefore it is imperative to find an app with low costs to generate the highest potential profit.
Payouts
When trading binary options outside of the US, each app provider independently decides on the payout of a contract. Comparing payouts between brokers can be tricky, as advertised max payout amounts may not be correlated to the value each broker offers on a like-for-like contract. Despite this, it is worth shopping around to see which binary options apps offer the best payouts. This may involve looking at reviews of an app or downloading a few different choices and comparing payouts on similar contracts.
Variety Of Trading Options
You might want an app with extended financial functionality or may only value binary options trading facilities. As well as simple up/down contracts, the best binary trading apps will offer traders a range of contract types. You may also desire an application that supports spot trading or CFD trading alongside binary options.
Deposits And Withdrawals
The best binary trading apps offer easy and quick deposits and withdrawals, with several different methods for doing so. Make sure that a binary options app supports your preferred medium for transactions. Transfer methods to look for include debit and credit cards, PayPal, Skrill, Neteller, wire transfer or even cryptocurrency wallet transfers.
Every trader will want to be able to deposit funds quickly to take advantage of emerging market opportunities. Equally, you are likely to need to withdraw capital from your binary options apps to make purchases or invest with other brokers within a short time frame. Some brokers will charge withdrawal fees, either as a flat fee on all withdrawals or after a defined number of free withdrawals per month has been exceeded.
Speed & Ease Of Use
When purchasing binary options contracts, time can be the difference between a profitable trade and a loss. With this in mind, it is imperative to find binary options apps that are quick to navigate and place trades on. Some applications may feel intuitive to particular traders but annoying and convoluted to others, so it is worth trying a few before you commit to one provider. Many brokers offer demo accounts to allow you to do so without needing to deposit funds.
Charting & Analysis Features
Some mobile binary options trading packages may offer different charting and analysis capabilities to others. Technical signals may form a large part of a trading strategy, so you should ensure that a broker’s software offers the features you need.
Other Aspects To Consider
When comparing binary options apps, traders may also want to consider whether brokers offer demo accounts, training, educational content and push notifications. Demo accounts are excellent for trialling trading strategies or for those new to the markets. Training and educational content can aid new clients in learning the ropes. Push notifications are particularly valuable to binary options trading apps as they alert traders to opportunities in markets that they may not have been actively monitoring at that time.
To incentivise traders to choose their binary options apps, many brokers offer signup bonuses to new customers, where they match a certain percentage or set value of a client’s deposit as additional credit. You may feel that this is a significant reason to favour one broker over another, though it is worth reading the terms and conditions of a specific bonus offer to make sure there are no wagering restrictions on the bonus or even your cash deposit.
Also important is the availability of customer service and support to clients. User reviews will often mention the responsiveness of support so keep an eye out for this.
How To Get Started With A Binary Options App
Getting started with binary options apps is generally pretty simple once you have decided on which broker and platform best meet your needs. Here are the steps to follow:
Find An App
The previous section should provide you with enough information to pick from the best binary options mobile apps for you. Once you have found a trusted broker with an attractive and functional product, you can move on to the next step.
Download The App
For most binary options apps, this step involves going into the app store for your specific device and downloading the correct mobile trading software. For iOS devices, this is the Apple App Store, while Android operating systems use the Google Play Store.
Create & Verify Your Account
Once your preferred app has been downloaded, it is time to create a trading account with the broker. Some clients may prefer to do this on a desktop or laptop but this is entirely possible to do through the app. You will be required to enter an email and create a password as well as to provide personal information, with many binary options apps requiring additional security questions and verification methods like a mobile number.
Some binary options apps will require you to immediately verify your identity for know-your-customer (KYC) protocols. Others may ask you for this information later on, such as before a deposit or withdrawal. Brokers may ask you to provide proof of your address, bank account or personal ID. Once completed, you should be free to use your account.
Log In On The App
The next step is to log in to the binary options trading app. The app may store your details for quick future access, requiring a passcode or biometric fingerprint to secure your account. If security is a big concern for you, it is possible to set up two-factor authentication (2FA) for many binary options apps., though this will slow your logins slightly. It is worth making sure that your authentication is not on the same device as your app.
Make A Deposit
Once your account is fully verified, it is time to deposit funds. Most brokers will offer a variety of deposit methods such as credit or debit cards, PayPal or Skrill. Choose the deposit medium that you are most comfortable with, keeping an eye out for deposit fees. Some binary options apps will have a minimum deposit limit so you will need to add capital in that amount or higher.
If you have selected a binary options app with a deposit bonus, make sure that you make the most of it with your first deposit. Often these bonuses match a percentage of your first deposit up to a limit. Because of this, a sizeable first deposit may help you maximise the bonus.
Ready To Trade
You are now ready to trade binary options contracts on your chosen application. Take some time to get to know the app and familiarise yourself with its layout and trading tools. Once you feel comfortable, it is time to trade.
Other Things To Know
- Regional Differences – Binary options trading is different within the US. Binary options contracts in the US are traded through a centralised exchange rather than by individual brokers. However, some apps that follow the non-US model are authorised for use by US residents. These brokerages are regulated by a US regulatory body like the SEC or CFTC.
- Taxation – While some countries like the UK currently consider binary options trading as gambling and therefore not liable to taxation, there will be some jurisdictions in which binary options traders will have to declare their earnings for tax.
Final Word On Binary Trading Apps
Binary options apps provide many benefits to traders, allowing them to track and purchase contracts at any time, from any place. With easy-to-use mobile interfaces and much of the functionality of full trading platforms, binary options apps can be very useful. Furthermore, push notifications can alert traders to opportunities in the market that they may have otherwise missed. There are many factors to consider when selecting an application, including pricing, charting and available assets, though there is generally a binary options app to suit everyone.
FAQs
Where Can I Download Binary Options Apps?
The best place to download binary trading apps is on the application store for your mobile device. This is the Apple App Store for iOS or the Google Play Store for Android platforms.
What Assets Can I Trade On Binary Options Apps?
Different applications will facilitate trading on various assets. Binary options contracts can be opened on stocks, cryptocurrencies, forex and commodities. Some apps may enable contracts to be opened on more than one of these markets, while some may be specifically designed for one particular market. Additionally, some apps for binary options trading will feature more assets for trading than others, especially in the cryptocurrency markets.
Are Binary Options Apps Legitimate?
As with all areas of financial speculation, there are fraudulent brokers and trading scams. However, many trusted brokers offer safe and reliable binary trading apps, just make sure to only trade with the broker apps we recommend here.
Can I Make Money On Binary Options Apps?
Binary trading apps provide clients with the opportunity to place trades on the go, offering access to markets wherever they are. This increases the chances of being able to take advantage of profitable opportunities.
Many modern brokers offer demo accounts for traders to hone their skills. Some binary options trading applications will have demo account functionality for traders to try out contracts on different markets.