Binary options are a popular choice among retail investors right now. This type of trading offers minimum deposits and big withdrawals in a short time. However, you can’t invest in binary options without the right broker.
In this article, we will discuss some popular and safe BO brokers with low min deposit, comparing their advantages and disadvantages. These platforms allow anyone to get started with trading, no matter what capital they have, which makes them perfect for students and beginners.
1. Pocket Option
The best choice for binary trading would be Pocket Option. It is a reliable, secure, and user-friendly online trading platform. For investors that are interested in trading forex and options, this broker is particularly useful.
With any binary options online platform app, you have only two outcomes. Either you win or lose money. You may also get your money back if the market doesn’t move (go high or low). So choosing the right broker who can offer high payoff rates becomes crucial. Pocket Option has one of the highest payoff percentage rates at up to 128%. Moreover, you have access to over 100 assets in forex pairs, commodities, stocks, and cryptocurrencies.
Another advantage is that the broker charges no commission fees. You can deposit a minimum amount of $5, or you can start with a free demo account. Plus, there are no extra fees for withdrawals or deposits.
Pros
- Low minimum deposit
- Safe and reliable
- High payoff percentage
- Demo account
- Good customer support
Cons
- No price alerts
2. Quotex
Quotex is another broker that facilitates trading in binary options. It is a regulated broker and claims to be regulated by the IFMRRC.
The platform has over 400 assets with trade expiry dates ranging from 60 seconds to several hours to several months. There’s no specific payout percentage. Your payouts will depend on the type of trade you choose and the time frame.
It also offers highly customizable charts and trading signals to assist you in your experience. You may opt to use the demo account to give the online investment platform a try. With Quotex, you’re able to invest in forex, commodities, and some indices. The minimum deposit is $10.
Pros
- 60-second trades
- User-friendly interface
- 30% deposit bonus
- Demo account
- Good customer support
Cons
- No leveraged trading
3. IQcent
IQcent is a user-friendly online trading platform that was developed especially for beginners. It is user-friendly, convenient, and easy to learn.
It requires a low minimum deposit of $20. You can also avail of a deposit bonus of 20–100% up to $1000. Many users started using this platform as a low-risk, high-payout option. However, some users experienced delays with their withdrawal requests.IQcent offers conventional high-low binary options and CFDs with leverage of up to 1:100. You can invest in forex, commodities, and indices.
Pros
- CFD trading
- High payout of 98%
- Multiple payment methods
Cons
- Not reliable
- Poor customer support
Overall, there are several brokers out there that require small deposits to start trading. However, you should always look into trying out the platform’s free demo account to check its convenience and functionality. Finally, anyone who considers trading with any assets should first learn about the risks associated with the chosen type of trade.