You need a reliable trading platform to profit from binary options, which is why we compared the best binary options brokers in the USA to set you up for success.
With so many sketchy brokers available online, it’s all the more important to make sure you’re trading safely. Of course, you’ll have access to your money when you need to withdraw it as well.
So, without further ado, take a look at our top picks in the chart below.
7 Best Binary Options Brokers in the USA for 2021.
- Quotex.io – Best overall binary broker for U.S traders
- Pocket Option – Best easy-to-use platform
- Binarycent – Best for minimum trade amounts
- Nadex – $250 minimum deposit
- RaceOption: Best for bonuses
- IQCent: Best for copy trading
- CXMarkets – $100 minimum deposit
Expert Recommended Binary Options Brokers
Top Binary Options Brokers in the USA Reviews
We’ve put together detailed reviews of each leading binary options broker currently working in the US. Keep reading and find out what they offer.
1. Quotex.io Review
Minimum deposit: $10
Minimum withdrawal: $10
Minimum trade: $1
Tradable assets: currency, market indices, commodities, crypto
Demo account: yes
License: IFMRRC
Overview — Quotex.io stands out for being the most recently formed broker in our binary options brokers comparison. Namely, it started operating in 2019 and would rank higher if it weren’t for its relatively untested status.
Moreover, Quotex.io’s parent company, Awesome Ltd., is based in Seychelles. And as such, it was certified as a licensed broker by the International Financial Market Relations Regulation Centre in 2020.
Demo account — Quotex.io has one of the best demo accounts we’ve seen thus far. For one, you can start simulated trading on a demo account with $10,000 tradable funds by simply clicking a button on the site.
Additionally, if it provided just a tiny bit more educational content, it would easily rank among the top US binary options brokers for learning to trade BOs.
Fast deposits and withdrawals — You can make deposits and withdrawals as small as $10 on Quotex.io, and you’ll usually have funds available within minutes. Likewise, the minimum bitcoin withdrawal is $50, but there are numerous ways to deposit or withdraw money . To find lost wallet visit https://iancoleman.net/bip39/.
Quotex.io is one of the best binary options brokers with a low minimum deposit. Coupled with its easy demo account, it’s an excellent place to gain some valuable experience.
For instance, you can receive a 35% bonus if you deposit $300 or more. Smaller deposits receive smaller bonuses. Account types are also linked to your deposit amount, and you’ll probably find that the $1000 Pro account has the best value for money.
Unilateral rejection — While Quotex.io is easily among the best brokers of binary options for US residents, we have to shed some light on the following statement on their website:
“The Company at its sole discretion will determine the circumstance sufficient to reject the Client’s request.”
In essence, there’s no reason for worry as this only serves to weed out fraudulent brokers.
We also would have liked to see a mobile trading app from Quotex.io, and hopefully, they provide one in the near future.
Pros:
- Lots of tradable assets
- User-friendly platform
- Fast withdrawal and deposits
- Excellent free account
Cons:
- Offshore broker
- Restrictive trading rules
2. Pocket Option Review
Minimum deposit: $50
Minimum withdrawal: $10
Minimum trade: $1
Tradable assets: currency, commodities, stocks, crypto
Demo account: yes
License: IFMRRC
Overview — Pocket Option launched sometime in 2017. It quickly became one of the most trusted binary options brokers for people in the US. And for those who don’t know, Gambell Limited owns the platform and is based in the Marshall Islands.
What’s more, out of the few binary options brokers available in the US, Pocket Options is probably the most popular worldwide, and for good reason too!
Payment methods and assets — Pocket Option accepts a huge variety of deposit methods that include the most popular cryptocurrencies, charge cards, and e-payments from several transfer services.
Like most binary options brokers for USA residents, Pocket Options offers easy forex trading, commodities, and stocks options. It also includes less common cryptocurrency options as a cherry on top.
Profile levels — Your profile on Pocket Options is based on your current balance.
For example, a $100 balance gives you access to the newbie profile, and a $50,000 one opens the Guru profile. Likewise, each level provides increasing access to features and a higher potential payout when available.
In short, it’s a sure-proof way to weed out potentially ineligible investors from advanced trading options.
Bottom line — Among US-friendly binary options traders, you won’t find many brokers with payouts as good as Pocket Option, thanks to their low deposit and withdrawal limits.
In addition, Pocket Option is certified by the International Financial Market Relations Regulation Center, which is a plus in our books.
Overall, if you want a solid platform to start trading and learning about binary options, it doesn’t get much better than this one.
Pros:
- 50% bonus when you deposit $50 or more
- Over 100 tradable assets
- Reasonable minimum deposit
- Can access a personal manager
- Various deposit methods
Cons:
- Non-standard regulation
- Offshore broker
3. Binarycent Review
Minimum deposit: $250
Minimum withdrawal: $50
Minimum trade: $0.10
Tradable assets: currency, market indices, stocks, crypto
Demo account: yes
License: VFSC
Overview — Binary Cent is among the top binary options brokers worldwide. This is thanks mainly to its small minimum trades and access to some assets most brokers don’t even offer.
Moreover, it’s based in the Marshall Islands and falls under the regulation of the Vanuatu Financial Services Commission.
As options brokerage sites go, it has a super functional interface. Everything you need to start trading and understand your trades is fully displayed and within easy reach, making it ideal for beginners.
Account types — Binarycent offers better bonuses than most regulated binary options brokers in the USA.
Namely, the minimum deposit to start with is $250, which will grant you a Bronze account, including a 20% bonus. Plus, you can get up to a 100% bonus on your deposit with a Gold account, which requires a $3000 minimum.
Low minimum trade — One of the most appealing things about Binarycent is the tiny minimum trade of only 10 cents.
Therefore, if you’re a newcomer to binary options trading, this platform provides a relatively low-risk way to learn, thus placing it among the best binary options brokers for beginners.
Turnover requirement — Note that every deposit must reach a triple turnover to be withdrawn without penalty.
So, for example, if you deposit $250, you’ll need a turnover of $750, or else you’ll incur a 20% penalty when you withdraw money, which is relatively standard practice.
All in all, it’s not unheard of for binary options brokers for US traders to take this approach. Still, we had to mention it in our Binary cent review anyway.
Lastly, Binarycent has exceptional 24/7 live video chat support and automated trading bots to help you reach your turnover requirement.
Pros:
- Very low minimum trade
- Up to 100% bonus
- 24/7 live video chat support
- Automated trading bots
- 1-hour withdrawals
Cons:
- Offshore broker
- Withdrawals require turnover
4. Nadex Review
Minimum deposit: $250
Minimum withdrawal: no minimum
Minimum trade: $1
Tradable assets: currency, market indices, commodities, economic events
Demo account: yes
License: CFTC
Overview — The North American Derivatives Exchange, or Nadex for short, is one of only two online regulated binary options brokers within the States.
Hence, it should come as no surprise that it holds a position of high status in the market.
Simply put, if you’re looking for a fully transparent broker that’s under the oversight of US regulators, Nadex is the way to go.
Fairtrade intermediary — Nadex is an exchange and clearinghouse.
In other words, it doesn’t take sides in trades. Instead, you can call for bids and buy from other traders, and Nadex charges a small fee on every transaction but doesn’t engage in countertrades.
Educational content — Nadex puts a lot of emphasis on educating traders. Namely, it offers free webinars, consistently posts blog content, and has a learning area on the site that teaches how to use the site and how to succeed with binary options.
Bottom line — Overall, Nadex is the gold standard of CFTC regulated binary options brokers. It provides a fully transparent trading platform, is legal for US residents, and can be an avenue for earning legitimate profits from binary options trading.
The only complaint we found was a lackluster demo account. It’s a no-deposit demo account, but it’s limited to a short 15-day trial.
Pros:
- Regulated by the CFTC
- Tons of educational content
- Start trading in as little as 5 minutes
- Excellent analysis tools
- Transparent trading fees
Cons:
- Short demo account
5. CXMarkets Review
Minimum deposit: $100
Minimum withdrawal: no minimum
Minimum trade: $100 (for binary options)
Tradable assets: currency, gold, weather events
Demo account: no
License: CFTC
Overview — The Cantor Futures Exchange (CXMarkets) is one of the most unique binary options brokers in the USA. It offers binary options contracts based on weather events, such as snowfall, rain, storms, and temperatures.
In a nutshell, it all started as a marketplace for box office receipt contracts but has since completely changed its position.
Don’t let that deter you, though. CXMarkets received approval from the CFTC back in 2010 and remains one of the most regulated, as binary options brokers in the USA reviews confirm.
No demo account — Albeit CXMarkets doesn’t offer a demo account, you can still make simulated trades. Hence, you’ll get a chance to practice without committing to real-money transactions before you get the hang of it.
Weather contracts — If you’re like most people who use CXMarkets, you’ll choose it primarily because of its weather contracts. These start trading at set dates, and you’ll have to keep an eye on the website to learn when to expect them.
The importance of weather contacts is surely emphasized with the devastating fires that hit Greece and Turkey.
We also liked that the payout depends on how many contracts traders purchase. The more traders choose to buy a weather-related product, the bigger the payout.
Bottom line — We’re delighted to say that CXMarkets is a well-established broker and one of the few US-regulated binary option brokers. And the primary thing that makes it truly stand out is the possibility of purchasing weather-related binary options contracts.
So, if you want to start trading binary options with a safe trading experience and a unique twist, this is the market for you.
Pros:
- CFTC regulated
- Weather-related contracts
- Allows simulated trades
- Fast deposits and withdrawals
- Active since 2010
Cons:
- Weather contracts available seasonally
- No demo account
How to Pick the Best Binary Options Brokers in the USA
Binary options are a relatively new financial instrument, only available to retail traders since 2008.
From then on, traders’ appetite for binary options only grew, exponentially, at that. Unfortunately, that has also led to some less-than-ethical trading platforms popping up all over the world.
This makes it all the more important to know what to look for when comparing binary options brokers in the USA reviews.
Let’s start with what the SEC recommends.
Don’t Invest in Something You Don’t Understand
This one should be pretty obvious, but it’s worth repeating.
Before you start investing in binary options, take the time to fully understand what they are and their implications.
Even if we set aside which American binary options brokers comply with regulatory requirements, you should always know what you’re investing in before you spend money on it, simple as.
Check Whether the Broker Is Regulated
It should go without saying that working with an unlicensed broker is not a good idea.
However, if you want additional security, be sure to check whether the broker is also regulated and which regulatory agency oversees it.
For instance, the CFTC regulates US binary options brokers. Still, the same doesn’t hold for offshore brokers.
That said, any regulation is better than none. Therefore, if you choose an offshore broker, make sure it’s regulated by the agency responsible for its home country at the least.
Look for Brokers with Experience
Ideally, you should try to work with brokers that have been operating for at least five years. However, that can get tricky when it comes to binary options.
While the approved binary options brokers from the USA have been operating for well over five years, there are several good options out there without that kind of track record.
Consequently, it might be better to check whether a broker has any serious complaints on review platforms. And pay special attention to any complaints about identity theft in particular.
Namely, Americans lost $56 billion to identity theft in 2020, don’t become a part of that statistic.
A Demo Account Helps
In our opinion, the best binary options brokers for US traders should have a demo account that allows simulated trades.
Moreover, a demo account shouldn’t require much other than your email and name to get started. Because of that, we’re a bit suspicious about demo accounts that require an initial deposit — hence why we excluded brokers that require them from our list.
Check Deposit and Withdrawal Options
You can expect any broker worth its salt to offer several ways to deposit and withdraw money. Nevertheless, more doesn’t necessarily mean better in this case.
Binary options brokers for US traders that are highly regulated will typically offer debit cards, check, bank transfers, and wire transfers as options for deposits and withdrawals.
Other standard funding methods include cryptocurrency, money transfer, and e-wallet, which are typical of brokers headquartered outside the US.
Check the Assets Offered by Best Binary Options Brokers
You probably have an asset class in mind if you’re thinking about binary options trading. And it would be a shame if you got stuck with a broker that doesn’t support that asset.
Most brokers offer four to five asset classes, with the most popular being forex and crypto options. Commodities are also a common asset, as are stock and market indices.
CXMarkets is unique among binary options US brokers because it offers options contracts related to weather events.
A Good User Interface Is a Must
Before you decide on any broker, take some time and just look around the interface you’d be using to trade. This is where a demo account comes in handy. Still, even without one, you can get a good sense of whether you’ll like a broker’s interface or not.
Things that you want to look for are:
- Efficient ways to track your trades
- Quick page load times
- No unnecessary steps between actions
- Traditional color schemes (red and green up/down)
Read the Terms and Conditions with a Magnifying Glass
Binary options brokers that accept US clients don’t always fall under the oversight of US institutions. Hence, you should always read through the conditions of use before you start trading with any broker.
Notably, many brokers place conditions on bonuses you receive when you deposit to your account. Sometimes, you must use these bonuses for trading or don’t have the option of withdrawing them until you achieve turnover.
FAQs
Is binary options trading legal in the USA?
Yes, it is. The CFTC clarifies that binary options trading is legal within the US as long as they’re traded on a regulated US exchange.
That doesn’t mean you can only trade with brokers in the US, but you must make sure that the broker you choose currently services US citizens.
For instance, IQ Option is a binary options trader that has been trying to offer its services to people in the US for a while. It doesn’t currently, but that doesn’t mean it never will.
Therefore, when you come across a broker, check its terms and conditions to see whether you can use it from the US.
Where can I trade binary options in the US?
The CFTC designates three markets to trade binary options contracts:
- The North American Derivatives Exchange (Nadex)
- The Cantor Exchange (CXMarkets)
- The Chicago Mercantile Exchange
Nadex and CXMarkets have an accessible interface for retail investors, and Nadex is the easier one to use.
You can also trade binary options on offshore brokers, such as Pocket Options and Quotex.io. Offshore brokers usually put a lot more emphasis on accessibility and can be easier for beginners to get started on.
Is IQ Option available in the USA?
No, sadly. IQ Option is one of the most trusted binary options brokers in the world. However, it isn’t available for US traders currently.
The company has a division, IQ Option USA, which seems slated for the American market. Still, there’s no indication about when or if it will be available for traders in the US.
What are the best binary options brokers in the UK?
UK residents have access to more options than people in the US. Binary.com is one of the largest and most successful binary options brokers in Europe and globally available in the UK.
IQ Option is another highly reliable option and regulated by the Cyprus Securities and Exchange Commission.
Who is the most successful binary trader?
There is no organization tracking the earnings and losses of binary traders, so there’s no way to answer that question with any certainty.
Successful traders on forums claim to earn somewhere between $10,000–$15,000 per month, but those are unverified numbers.
Presumably, large institutional investors would be the most profitable, and there are hedge funds that focus primarily on binary options trading.
However, none of the best binary options brokers in the USA track and reveal trade information from their users, so that’s speculative at best.
Wrapping Up the Best Binary Options Traders in the USA
Binary options contracts are an exciting financial product. They basically allow you to earn money by speculating on future events.
As long as you’re using an experienced, regulated, and transparent broker, you have the potential to make a lot of money. And that’s what you’ll find on our US binary options brokers list — only the best and most reliable brokers we could find.
You’ve got your (binary) options, so pick one and start investing. We’re rooting for you!
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