The Binary Options market across the world has witnessed a tremendous growth during the last couple of years due to a huge influx of amateur binary traders who are interested in setting up a secondary stream of income.

This has automatically resulted in the increase in the number of binary options brokers who want to provide their products and services to this growing global market.

If you look back to 2008, there were just a handful of binary options brokers which made it easy for binary options traders to choose which broker they wanted to trade with. Today, there are hundreds of binary options brokers who promote their services heavily both online and offline making it difficult for fresh traders to find a good binary options broker.

List of Top 10 US Binary Option Sites for 2024

Broker	Offer	Devices	Trade Now / Review
1st	Deposit: $10 Payout %: 85%		Trade Now!
2nd	Deposit: $250 Payout %: 90%		Trade Now!

There are a numerous ways to differentiate between the different binary options brokers but we decided to break it up into just two. We will take a look at the differences between a regulated binary options broker and an unregulated binary options broker.

Regulated Binary Options Broker

There are a number of different regulatory bodies that certify binary options brokers. The Cyprus Securities and Exchange Commission (CySEC) is considered to be the most well known regulated agency for binary options brokers. There are also other agencies such as the Financial Conduct Authority (FCA) and the ASIC who regulated the binary options market and issue licensed to regulated binary options brokers.

Binary options brokers who are regulated by such reputed agencies are always more reliable than unregulated binary options brokers as regulated binary options brokers have to conform to the set of regulations imposed by these regulatory bodies and can be taken to task for violating their procedures.

Regulated binary options brokers usually publish the fact that they are regulated as it helps them attract new binary traders and bring in more business. These regulated binary options brokers realize that if they violate the stipulated procedures, their license can be suspended by the regulatory body or they can be issued a warning, which will not only damage their market reputation but also negatively impact their future business.

We advise binary traders to always prefer a regulated binary options broker as it not only reduces their risk of loss but also gives them recourse in the case of a dispute as they contact a regulatory agency and report the regulated broker.

Unregulated Binary Options Broker

The number of unregulated binary options brokers in the market is growing at a rapid pace because they brokers realize that there is a lot to gain in a quick amount of time from this lucrative industry.

Many of these unregulated binary options brokers have questionable ethics and use false advertising and promotions to lure new binary traders to become their clients. These unregulated binary options brokers do not report to any regulatory body and hence do not need to conform to a specific set of rules.

As a result, it is a lot riskier for binary options traders to rely on the products and services of these unregulated brokers as they have no recourse to a regulatory body in case of a complaint and are often manipulated by these brokers who use hidden or subtle terms and conditions in their sign-up agreement to hold on to the deposits and money of these binary traders.

The global binary options industry does not have stringent rules and regulations. Unregulated binary options brokers have taken advantage of these loopholes to exploit clients by using deceitful practices to make money from their trading.

While these unregulated binary options brokers appear to offer better bonuses and rates than regulated brokers, we caution traders and advise them to stay away from these unregulated binary options brokers as they may benefit in the short term but will end up losing consistently in the long term.

How To Choose A Binary Options Broker

Choosing a binary options broker today has become a very complicated process due to the fact that there are hundreds of binary options brokers online advertising their products and services, along with claiming to be the best binary options broker in the market.

There are numerous factors that one must consider before choosing a binary options broker but we believe the following factors are the most critical in determining which binary options broker you decide to work with.

Regulated Brokers: One of the most important steps in selecting a good binary options broker is to see if they are regulated by a reputed body such as the FCA or CySEC. When you choose a regulated binary options broker you are exposed to less risk of fraudulent and unscrupulous practices.

Market Reputation: Take the time to go online and do a few searches on the prospective binary options broker that you want to sign-up with. There should be more than a few online reviews from clients of the binary options broker. If you find the reviews positive, then this is confirmation that you can sign-up with the broker. On the other hand, if you find more than one negative review, then use your better judgment and look for another binary options broker.

Market Longevity: There has been an influx of binary options brokers in the last couple of years. We think it is always better to go with a broker who has been in the market for a few years and established themselves as a reputed broker. If you find a binary options broker with no online reviews or has only launched their services recently, then you might want to go with another broker as you have no indication as to how this new broker will perform in the market.

Blacklisting: The binary options industry is slowly becoming more regulated and binary options traders can now look up blacklisted binary options brokers by going to sites like Fair Binary Options or Binary Options Sentiel and click on their list of blacklisted operators. These lists are updated fairly frequently and if you find the name of the binary options broker you are considering to sign-up with on the list, then better change your plans quickly.

Agreement Terms & Conditions: They say that the devil is in the details. This is absolutely true when it comes to binary options brokers as a number of brokers, both regulated and unregulated will make a lot of promises, offer lucrative bonuses and swear to give you the best deal possible but in the end will include some hidden terms and conditions, that can make your binary options trading a very unpleasant experience.

We suggest that you always take the time to carefully read the terms and conditions that your binary options broker outlines in your agreement. If you do not understand a particular clause, then do not hesitate to ask the broker to explain it clearly to you. Remember that these terms and conditions change from broker to broker, which is why it is essential for you to know what you are getting into before signing up with a particular binary options broker.

Binary Options Bonuses: The competitive between binary options brokers to secure new traders is very competitive and each binary options broker looks to advertise special bonuses in an effort to sign-up new clients. A number of these binary options brokers make false advertising claims and then throw in a few hidden terms and conditions that render all of these ‘exciting bonuses’ null and void.

We encourage traders to not get fooled by these exciting bonuses but to take the time to understand the terms and conditions that govern these bonuses. We advise traders to choose binary options brokers who are transparent in their advertising and have no hidden terms and conditions attached.

How To Avoid Being Cheated By Binary Options Broker

Every binary options broker makes a commission from the trades you place and their winnings depend on your losses. It is vital that you keep this principle in mind when dealing with a binary options broker as they will portray themselves to have your best interests in mind and will promise to help you have success with your trading. However never forget that their ultimate aim is to make money from your trading and the best way for them to do that is for you to continue to deposit money and lose, and then repeat that cycle multiple times.

Avoid Unregulated Brokers: While all brokers profit from your losses, it is a lot safer to work with a regulated broker as you know they will not resort to illegal practices to manipulate you into trading and losing more money. We strongly advise you to avoid unregulated brokers as there is a higher probability of you being exploited and engaging in trades that will almost certainly cause you to lose.

Do Not Fall For Sweet Talk: Binary options brokers will most likely give you a sugar coated speech or publish an advertisement that significantly minimizes the risk of binary trading and make it appear that it is a very easy make for you to make extra money. This is because they want you to sign up as one of their binary options traders, deposit your money with them and trade on their trading platform.

Do not fall for their sweet talk as binary options trading is always risky and the probability of one losing their money is always high, especially when they do not have a robust trading strategy or they are new to the binary options industry and allow their emotions to get the better of them. External Pressure: Most online binary options broker websites offer visitors a freebie in exchange for the e-mail address or phone number. This freebie can be a free binary options e-book, e-video or e-course giving them strategies or secrets to succeed at binary options trading.

These brokers then use the e-mail or phone number collected to reach out directly to the potential trader and begin their strategy of imposing external pressure in order to get them to sign-up, become a binary trader and start making trades. These brokers have call centre teams who are well trained in being assertive and aggressive sales reps which often result in prospective clients giving in to the pressure against their better judgment and becoming clients.

Some of these binary options brokers also sell their e-mail and phone lists to other vendors without getting the permission of the end user.

Withdrawal Delays: This is probably the most common strategy that most regulated and unregulated binary options brokers resort to. Most binary options brokers do not want you to withdraw your earnings and as a result will come up with numerous reasons to delay and prevent you from making your withdrawal.

Some of these brokers will offer you exciting bonuses to once again use your money to trade, while others will highlight some of their hidden terms and conditions that prevent you from withdrawing the full amount immediately or will delay your withdrawal citing insufficient document or any reason they can think of to get you to keep your money with them a little longer.

Giving Control To Your Account Manager: Based on your binary options broker and the different level of accounts, you might be awarded a special client account manager who will assist you with your trading.

Some of these client account managers might manage a few traders or be an exclusive account manager for your account, based on the amount you have deposited and the number of transactions you will engage in per week. These account managers will push you to give them authorization to handle your accounts and make trades on your behalf. We advise you to never fall into this trap, as it is a sure way for you to lose all your money.

Regulated binary options brokers who ask for the authority to manage your accounts, must be able to produce a separate binary options broker license. Most of these client account managers do not have such a license as the license requires them to adhere to a set of stipulations that prevent them from taking advantage of you and manipulating your trading.

Binary Options Brokers For Amateur Traders

The number of beginner or amateur binary options traders continues to grow with each passing month. These amateur traders are looking for a reputed and reliable binary options broker who will assist amateur traders. We strongly advise you to find a binary options broker who will allow you access to a demo binary options account, give you the opportunity to avail some quality free binary options courses and offer you new sign-up bonuses.

Demo Account: Most binary options brokers offer a demo account which traders can use to practice and get an idea of how the trading platform works. This is possible because demo accounts tend to use the same binary trading platform that is used for real money. The demo account usually comes with a virtual currency deposit and gives the trader access to a wide range of binary commodities to help them have an almost real like binary options trading experience.

We advise amateur traders to sign-up with brokers who give them access to this demo account. More often than not, these demo trading accounts are provided free of charge but there is a stipulation as to how many days this demo account can be used. Some binary options brokers offer a demo account free of charge, provided a minimum deposit amount is made.

The demo account will give new traders a feel for the trading platform and also allow them to make mistakes with virtual currency and not real money.

Free Binary Options Trading Courses: New traders can become successful quickly if they take the time to study the binary options industry, learn to develop a robust trading strategy, learn how to resist emotions and pressure and not fall prey to the scams that float around the binary options industry. A number of binary options brokers offer new traders free e-courses, e-learning videos and webinars that help them begin their journey as binary options traders.

These courses are provided free of charge in an effort to bring in new customers. We advise new traders to find a good regulated binary options broker who offer such courses free of charge. This is one of the best and fastest ways for one to learn binary options trading. Some of these courses are available at other websites but for a fee, which can be very costly.

Leveraging Binary Options Bonuses: Most binary options brokers will provide new trader registrations with exciting sign-up bonuses. Some of these bonuses will include a free demo account, a free binary options e-course and matching deposit amount to a certain percentage based on the trader’s initial deposit.

We encourage new traders to look for the best sign-up bonuses and then use them to your advantage as it will prevent you in the initial stages from risking your own money. However we caution you once again to make sure you read the terms and conditions that come with these bonuses, so that you save yourself from being exploited by unscrupulous binary options brokers.

GENERAL RISK WARNING

THE FINANCIAL PRODUCTS OFFERED BY THE COMPANY CARRY A HIGH LEVEL OF RISK AND CAN RESULT IN THE LOSS OF ALL YOUR FUNDS. YOU SHOULD NEVER INVEST MONEY THAT YOU CANNOT AFFORD TO LOSE