Best Unregulated Binary Options Brokers In 2024
Unregulated binary options brokers may offer higher payouts (up to 98%), more attractive promotions (like 100% deposit bonuses), and faster registration (under 10 minutes) with fewer checks than regulated platforms.
However, this can come at the expense of safeguards like investor compensation, recourse channels for disputes, and transparent trading conditions that clearly articulate the risks of binaries. You may also fall victim to binary options scams, which have cost investors millions in the 10+ years we’ve been following them.
For these reasons, we generally recommend choosing a regulated broker. However, if you’re willing to take the risk, discover DayTrading.com’s pick of the best non-regulated binary brokers.
Top 3 Unregulated Binary Options Brokers
Following hands-on tests of 15+ platforms, these 3 unregulated brokers emerged as the best for trading binaries:
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1
Videforex20% 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 -
2
Binarium
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 -
3
RaceOption20% - 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
This is why we think these brokers are the best in this category:
- 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.
- RaceOption - RaceOption is a binary options broker operating from the Marshall Islands. With over 1,500 clients, the broker aims to offer fast funding, low fees and a secure trading environment. Traders can access over 100 binary options and CFDs, plus copy trading and weekly prizes.
Best Unregulated Binary Options Brokers In 2024 Comparison
| Broker | Payout | Contract Length | Platforms | Minimum Deposit |
|---|---|---|---|---|
|
|
98% | 5 seconds - 1 month | TradingView | $250 |
|
|
80% | - | Own | $5 |
|
|
95% | 5 seconds - 30 days | TradingView | $250 |
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. "
William Berg, Reviewer
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 absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
- 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.
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 |
|---|---|
| Demo Account | Yes |
| Instruments | Binary Options, CFDs |
| Platforms | TradingView |
| Minimum Deposit | $250 |
| Minimum Trade | $0.01 |
| Leverage | 1:500 |
| 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
- 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.
- 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.
How Did We Choose The Best Brokers?
To find the top non-regulated binary options brokers:
- We leveraged our database of 216 trading firms;
- We identified around 15 that offer binary options trading;
- We pinpointed the binary options firms that aren’t regulated by a financial body;
- We ranked the remaining unregulated binary platforms by their rating, weighing 100+ data entries with the findings from our extensive tests conducted over many years by industry experts and trading enthusiasts.
How To Choose A Non-Regulated Binary Options Platform
The choice of broker will always be a personal one because every trader has different needs. However, drawing on our experience evaluating unlicensed binary options firms, there are five key questions to ask:
1. Can I Trust Them?
You will never be able to fully trust an unauthorized binary options firm because they aren’t subject to the same regulatory scrutiny as platforms authorized by respected regulators in line with DayTrading.com’s Regulation and Trust Rating.
However, trustworthy brokers do have certain hallmarks:
- They have been operational for a long time (5+ years)
- They have a clean track record (no lawsuits or regulatory fines)
- They have positive reviews from clients and experts on respected comparison sites (4/5 star ratings)
- IQ Option is the most trusted binary broker we’ve evaluated and has even scooped our ‘Best Binary Broker’ annual award in recent years. It has been operating since 2013, while its European Union branch holds a license from the CySEC to deal with CFDs, though this does not protect binary traders.
2. How Much Can I Earn On My Trades?
Most unregulated brokers that we’ve examined offer payouts from around 85%. However, this depends on the market which is traded. For example, volatile cryptos typically have lower payouts closer to 50%.
A word of caution on unregulated firms, we’ve sometimes noticed a lack of transparency. For instance, Quotex advertises payouts up to 98% but we’ve rarely had a payout exceeding 89% when we’ve used the platform.
Binary options demo accounts are a great way to get a feel for potential returns on your preferred assets before trading with real money.
- Videforex offers very high payouts up to 98% on currencies. They also offer enticing bonuses from 20% on starting deposits from $250, though always check the terms as you may not be able to withdraw the credit.
3. Do I Like The Trading Platform?
Finding a platform, which is typically accessible through web browsers on desktop and mobile devices, that you like the look and feel of, and that has the tools you need is essential. This is where you will analyze the markets and place up/down trades.
Key features to look for:
- A charting package with various indicators, drawing tools and timeframes suitable for technical analysis.
- Market insights, economic calendars and news feeds to support fundamental analysis.
- Automated trading capabilities through algos or binary copy trading.
- GC Option sports a TradingView-powered platform which is super easy to use with a fast and intuitive interface. GC Option also stands out as one of the only binary firms to support MetaTrader 4 (MT4), which has a stronger selection of charting tools for experienced day traders.
4. Can I Rely On Customer Support?
Reliable assistance is key, especially for newer binary traders who may need support with unfamiliar platforms.
However, after personally testing the support available at over 15 binary brokers, we’ve noticed a decline in the quality of assistance at unregulated firms.
Our investigations show you may lose out on around the clock support via multiple channels, human agents fluent in English, and most worryingly, representatives with a good understanding of binary options products.
For example, while using Quotex, there was no live chat which meant we had to wait up to 40 minutes for responses to our queries via email – a significant drawback given that binary traders often place short-term trades.
- Despite no email support, RaceOption does have several local support numbers, plus a 24/7 live video chat which we’ve tested on multiple occasions and always had a response within two minutes.
5. Can I Quickly And Securely Open An Account?
One of the main selling points of non-regulated binary firms is how quickly you can open an account and start trading. During our evaluations, our accounts were often activated with access to platforms provided in less than 10 minutes.
This is because unlicensed brokers don’t typically require you to complete lengthy verification checks of your identity and address in line with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
- Quotex offers a straightforward sign-up process with the option to register easily via email, Facebook or Google accounts. It took us just a few minutes to enter our country of residence, account currency, email and password, before declaring that we are over 18 and not a resident of the US.
Bottom Line
For those willing to take the risk, unregulated binary options brokers can offer higher returns on your trades, faster access to the markets, and attractive bonuses, though this trading credit can’t normally be withdrawn.
If you opt for this route, use DayTrading.com’s list of the top unregulated binary options trading platforms to find the right provider for your needs.
We do not typically recommend trading binaries with an unlicensed broker. You may receive limited safeguards which can pose a significant risk to your capital. Only invest what you can afford to lose.
FAQ
Am I Safe Trading Binaries At An Unregulated Broker?
No. Trading binary options with an unregulated broker is extremely risky.
Prominent trading jurisdictions such as the UK and European Union have banned the sale of binary options due to concerns about mass fraud, dishonest trading practices, and the potential for large investor losses.
While traders can sign up with offshore, unlicensed platforms to trade binaries – the risks remain high.
Article Sources
- FCA Bans Sale of Binary Options - Financial Conduct Authority (FCA)
- Binary Options Fraud - Federal Bureau of Investigation (FBI)
The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com