What is vital when choosing the best platform for trading options?

Binary options are widespread in the world. In the Forex market, all main assets are currencies. But options trading acquires a new format and allows us to work with stocks, indices, futures contracts and commodities. Thus, the market immediately put options as a priority and responded with development of the best options trading platforms.

Before plunging in this new activity, you should learn more advanced things about the binary options trading sites.

Every newer trader must realize the key characteristics of binary options trading, which are indicated by the sites of online brokers:

  • High profitability. The potential return on a single deal can usually reach 60-85% of the amount invested. There are even cases for the profit to make 300% or more.
  • Short-term nature of operations. Most deals are realized within a short period of time, which could also range from a few minutes to several hours.
  • Risk control. This is rough estimation of a possible loss.
  • When trading binary options, there are no associated losses like commissions and spreads.
  • Option is a derivative financial instrument, and its price depends on the price of the underlying asset. Contract gives you the possibility to choose the currencies, commodities, stocks, and stock indices.

Even before online trading, the trader must choose a suitable broker. When looking for the best site for trading options, pay attention to the following key points:

  • The company must operate in the market for at least a year.
  • It is necessary that the options trading platform has licenses and certificates that give him the right to organize trading in the financial market.
  • The broker must also have a trading terminal with a clear interface and well-thought-out customer service. Only then a person can conveniently and quickly carry out all the planned transactions.
  • It is also advisable to pay attention to whether options trading websites provide the opportunity to open a minimum deposit and how the customer support service works.

Best Trading Platforms for Options

Today’s market offers dozens of platforms for trading. Many brokers keep leading positions on various top lists. But we decided to dig further and could find out the most winning features of well-known trading resources. We checked the key characteristics of all the sites and evaluated them from the point of view of usability, accessibility, the presence of educational materials, mobile application, customer support service, payment and commissions details. And the results look as follows:

The most advanced trading platform

Our Rating:
5 stars

Min Deposit: 10$

Min Deal: 1$

Demo: Yes

The most attractive minimum deposit

Our Rating:
4,5 stars

Min Deposit: 5$

Min Deal: 1$

Demo: Yes

The best options trading platform for beginner training

Our Rating:
4,5 stars

Min Deposit: 10$

Min Deal: 1$

Demo: Yes

The best mobile options trading platform

Our Rating:
4,5 stars

Min Deposit: 10$

Min Deal: 1$

Demo: Yes

The best bonus and promotion programs

Our Rating:
4,5 stars

Min Deposit: 0$

Min Deal: 1$

Demo: Yes

Commission-free options trading platform

Our Rating:
4 stars

Min Deposit: 100$

Min Deal: Fixed spreads

Demo: Yes

Keep reading to learn more about these advantages on each platform.

What Is the Best Options Trading Platform?

Before making a choice, you should study carefully the main characteristics and features of best online options trading sites available in the market. And only then, based on the priority indicators, build your own rating.

It is true that all people have their own priorities, and yet it is important to take into account a number of objective parameters when it comes to the selection of platforms for trading.

  • Functionality. It implies a quantitative characteristic, i.e. how many analytical instruments (charts, technical indicators, timeframes, etc.) are offered by the platform. It includes the possibility to simultaneously open several windows, set up automatic trading, several brokerage accounts, enter your indicators, select types of orders for deals, etc.
  • Performance (program speed). The delay in the graphical display of quotes affects the quality and number of transactions, so you should choose a trading platform that does not slow down or such bugs occur extremely rarely (especially for day trades).
  • Safety. Confidentiality is a valuable parameter in all areas that involve money. A trading platform, like an online brokerage firm, must be reliable and guarantee the safety of transactions
  • Convenient interface. Simplicity and clarity are the main qualities to be considered when it comes to choosing a trading platform. Another important characteristic is the ability to customize it so that the trader can comfortably cooperate with the platform.
  • Mobility. This parameter includes two important things: the ability to install the platform on a mobile device and compatibility with leading operating systems.

The winner in this category is IQ Option. The broker developed its best platform for options trading. The first-class interface of the site allows the trader to perform the most efficient management of the trading process and the platform itself. Therefore, not only professionals, but also beginners can effectively use it. The IQ Option trading platform works equally well on both full-size computers and mobile devices. Its winning feature is dynamic charts showing the development of the asset price in real time. The platform has received and continues to win numerous awards for innovation and user-friendly interface, including the "Most Innovative Binary Options Broker" award from Show FX World and the "Best Trading Platform" from the Forex Award.

Our Rating:
5 stars
Short info about the broker

IQ Option is a young broker who launched its trading platform in 2013. In a very short time, it has managed to secure its leading position. The popularity of the IQ Option platform is proved by the impressive number of registered traders. It reached 70 million users. For today, the broker offers 500+ assets for trading.

Min Deposit: 10$

Min Deal: 1$

Demo: Yes

Types of Platforms

  • Own platform

Features

  • Wide selection of instruments
  • Extensive analytical possibilities
  • Suitable for beginners and experiences traders

Types of Platforms

  • Derive.com
  • SmartTrader
  • TickTrade App

Features

  • Powerful graphic instruments such as Trading View and Smart Charts. It could help build interactive graphs and analyze them.

Types of Platform

  • Web terminal

Features

  • Simple interface
  • A full set of instruments
  • Random trading

Types of Platform

  • Own platform

Features

  • Compatible with all devices
  • Only two types of options are available
  • Limited selection of instruments

Types of Platform

  • MT4, MT5, Alpari Mobile, Alpari Invest, Fix-Contracts

Features

  • All platforms are professionally developed and have a wide selection of instruments
  • Analytics is also available

Types of Platforms

  • Web platform, Windows, mobile trading apps
  • No MT4

Features

  • User-friendly interface
  • Transparent trading
  • Compatible with all devices

Mobile Platform

We are observing the growing tendency for the trading to gradually migrate to modern gadgets. It is dictated by the modern rhythm of life and high mobility. To allow trading without connection to a specific place, most of the best free options trading platforms try to provide clients with all the necessary conditions for the convenience of trading via mobile devices. They are heavily investing in the creation of their own mobile applications. These apps differ in formats and functional components. Usually they are created for different operating systems, and the most common are Android and iOS.

In this category, the prize for the best mobile application goes to ExpertOption. The broker approached the development of the app responsively. Today, over 50 percent of traders use mobile trading. The reason is clear - you get the same functionality in the mobile app as in the web and are able to trade the go.

Our Rating:
4,5 stars
Short info about the broker

Expert Option entered the market in 2014. Despite being quite a young broker, it offers more than 180 assets and has 30M+ of active accounts and clients from over 150 countries. Expert Option allows users to register a demo account with 10,000 virtual US dollars. It enables beginners to try out the platform without investing real money. The broker also offers 5 types of accounts, each of which has its own minimum deposit amount, bonus amount and other additional functions. Attractive features of ExpertOption are the minimum deal amount - $ 1 and the minimum withdrawal amount - $ 10.

Min Deposit: 10$

Min Deal: 1$

Demo: Yes

App

  • Windows, MAC OS, iOS, Android

Features

  • Classical options and turbo options trading
  • Demo account is available in mobile version
  • A lot of research tools

App

  • Tick Trade for Android

Features

  • Ability to choose trading preferences
  • Technical instruments
  • Multi-language support
  • All types of binary trading

App

  • iOS, Android

Features

  • You can register on the platform from mobile
  • A bit limited selection of trading instruments

App

  • iOS, Windows XP, Android, MAC

Features

  • Instruments for technical analysis
  • Social trading
  • All features of the browser version are supported

App

  • Alpari Mobile for iOS and Android

Features

  • Trading on the go
  • Market analysis
  • Account management
  • Compatibility with MT4 and MT5

App

  • iOS, Android

Features

  • Supports CFDs trading
  • Visually attractive interface
  • Not all charts and markets are available

Training and Customer Support

Working in the market, like any other activity, requires certain knowledge and skills. Before starting trading on real accounts, a trader must undergo special training in trading.

Binary options training can be roughly divided into 3 types:

  • Self-education. You can find a lot of literature on the Forex market on broker websites and on the Internet. These are tutorials, and reference books, and author's trading techniques, and manuals for using the Metatrader trading platform. But do not forget that this approach will require much concentration and a lot of time.
  • Full-time Forex training. Many brokerage companies offer individual training for traders. You can attend both express courses and introductory seminars, which are often held completely free of charge. Some platforms offer professional training lessons designed for more experienced traders who want to improve their work in Forex.
  • Online trading. Today, online learning is gaining more and more popularity due to its accessibility and convenience. To attend the seminar, you only need a computer and the Internet with good connection.

In this category, we have chosen Olymp Trade as the most suggestable resource for newbies. Trading for beginners is a very exciting and useful online course allowing each participant to get acquainted with the peculiarities of the financial market. Besides, it is completely free. Upon completion of the course, the trader is offered to conclude the first independent transaction. If it is successful, the student will receive a certificate from the Academy of Financial Markets. You can continue with the other courses that are also available on the official website of the broker. After registration, you get access to reference materials, trading strategies, indicator reviews, webinars, and practical advice from market professionals. It is worth mentioning the regular webinars held by the company. All interactive events are recorded on the site and can be useful for traders to consolidate the educational base.

Our Rating:
4,5 stars
Short info about the broker

The history of Olymp Trade begins in September 2014. The main feature is that the platform offers only one trading instrument - Fixed Time Trades. The company provides users with affordable trading conditions, service and modern software, and we are sure that the number of its customers will grow.

Min Deposit: 10$

Min Deal: 1$

Demo: Yes

Types of Training

  • A big selection of interactive training tools such as webinars, tutorials, guides, and electronic books

Customer Support

  • Postal address: Hinds Building, Kingstown, St.Vincent and Grenadines
  • Telephone: +7 800 333 47 55
  • Email: support@iqoption.com
  • Live chat on the site

Types of Training

  • Training section on the website includes some analytical elements.

Customer Support

  • Telephone: 0800 011 9847
  • Email: support@binary.com

Types of Training

  • Academy for beginners

Customer Support

  • Telephone: +35725030996
  • Email: support-ru@olymptrade.com
  • Feedback form

Types of Training

  • Electronic book
  • Social trading

Customer Support

  • Instruments for technical analysis
  • Social trading
  • All features of the browser version are supported

Types of Training

  • Alpari higher school of trading
  • Courses for beginners and advanced traders
  • Video lessons
  • Over 50 trading seminars

Customer Support

  • Skype (alpari-connect-skype) - in call mode only
  • Viber (+1 (784) 430-3918) - only in message mode
  • Telegram (@Alpari_official_bot)
  • Email: support@alpari.im

Types of Training

  • Educational center

Customer Support

  • Postal address: Plus500UK Ltd, 45 Moorfields | London, EC2Y 9AE
  • Fax: +44 203 002 7290
  • Email: support@Plus500.com
  • No online chat

Bonuses

Almost all brokers offer some type of incentives to attract users. Let's figure out what they are and why you need these bonuses.

Binary options training can be roughly divided into 3 types:

  • It is profitable. Bonuses are an opportunity for a broker to declare themselves by offering interesting offers, favorable terms of cooperation, promotions and gifts for any actions. For you, this is an opportunity to enter trading on favorable terms.
  • Cost savings. Most often, the essence of bonuses boils down to receiving funds that a trader can use by fulfilling the necessary conditions like register on the site or bring a friend. These funds allow, saving your personal money, to start trading and get real money for it. It is beneficial, psychologically comfortable, especially if you are a beginner.
  • Additional income opportunity. You can invite interested persons to the system and receive funds for this, depending on the conditions of the referral program. If you are an active and sociable person, you have many friends, the income from participation in a special program could also be decent.
  • Minimizing risks. Some brokers offer a return of some percentage of funds in case of loss as a bonus. So, you get an additional opportunity of making money.

Do you need bonuses and should you pay attention to them when choosing a broker? If you are determined to work seriously in trading, a bonus is a perfect opportunity for profitable trading, an opportunity to get additional income or minimize your losses. Some top options trading platforms allow not to use the bonuses, but this parameter is definitely worth considering when choosing a trading platform.

In this category, we give priority to Alpari. The broker offers the most extensive opportunities to get additional profit alongside with the trading.

Our Rating:
4,5 stars
Short info about the broker

Alpari is one of the oldest and most popular brokers operating since 1998. It is easier to advertise this company than others, mainly because of the popularity of the brand. The broker also offers excellent trading conditions, low commissions, quick withdrawals, reliable investments and good analytics. There is also the Higher School of Trading. No wonder, Alpari managed to attract over two million users.

Min Deposit: 0$

Min Deal: 1$

Demo: Yes

Bonuses

  • No

Other Incentives

  • Tournaments

Affiliate Program

  • Two options for a referral program

Bonuses

  • Welcome bonus from 10 to 100% (depending on the deposit amount)

Other Incentives

  • No

Affiliate Program

  • Partner and Introducing Broker programs with up to 45% profit

Bonuses

  • Promocodes

Other Incentives

  • No

Affiliate Program

  • RevShare - payments from 50 to 60% from each client

Bonuses

  • An individual Welcome bonus

Other Incentives

  • No

Affiliate Program

  • Available with a possibility to earn 5% on each referral

Bonuses

  • Loyalty bonus program

Other Incentives

  • Cashback program
  • Contests
  • Trader wars
  • Formula FX
  • Virtual reality

Affiliate Program

  • Revenue Share – profit is up to 60% of the spread for each transaction of the attracted client.
  • CPA - fixed payments (up to $ 275) for each attracted trader.

Bonuses

  • Welcome Bonus 30%
  • $ 20 No Deposit Bonus

Other Incentives

  • No

Affiliate Program

  • 500Affiliates

Profitability, Minimum Deposit and Deal

We tried to approach our comparison in a sample way. We put together a table with a list of basic requirements needed to open an account. We have chosen the most important features, namely: the minimum deposit, the minimum cost, and return.

Minimum deposit

If it is the first time you want to test your fortune in binary options trading, then you should know what minimum deposit requirements each broker has. For traders who want to try binary options, the low minimum deposit offered by a broker is always an attractive feature. After all, a small initial deposit implies low risks. Of course, all brokers have their own requirements for trading and these can differ significantly. For some traders, this factor can be minor while finding a good online broker, but for others it is very important.

Minimum cost

As with the minimum deposit, this factor is important for all those who take the first steps in binary trading. Everyone must clearly understand their capabilities and the risks to which they are exposed. After all, the minimum value is, directly, the minimum at which a trader is allowed to make a trade. And if you are a beginner, it is worth paying attention to brokers with the smallest deal amounts.

Profitability

Remember that it might not always be an easy parameter to compare brokers. Payments may vary depending on the asset and the expiration time of the option, as well as how the selected broker manages its own risk. You will have to test trading to see your own result. Choose a broker and trade, learning in the process and acquiring new skills. The beneficial feature of almost every trading platform is that they offer a free demo account.

Binary.com looks to be the cheapest options trading site  from the point of view of the above-mentioned requirements.

Our Rating:
4,5 stars
Short info about the broker

Binary com is a world class stock broker operating since 1999. The broker developed and implemented many trading tools to minimize all the risks. The trading can be started with as little as $1. Here you will find only classic options contracts. But the main advantage is the wide choice of both the underlying assets and the expiration terms of the option. Over one million users are already registered on the platform and new investors are joining every day.

Min Deposit: 5$

Min Deal: 1$

Demo: Yes

Minimum Deposit

  • 10$

Minimum Deal

  • 1$

Maximum Profitability

  • 91%

Minimum Deposit

  • 5$

Minimum Deal

  • 1$

Maximum Profitability

  • From 80% to 100%

Minimum Deposit

  • 10$

Minimum Deal

  • 1$

Maximum Profitability

  • 90%

Minimum Deposit

  • 10$

Minimum Deal

  • 1$

Maximum Profitability

  • 96%

Minimum Deposit

  • 0$

Minimum Deal

  • 1$

Maximum Profitability

  • -

Minimum Deposit

  • 100$

Minimum Deal

  • Fixed spreads

Maximum Profitability

  • -

Comparing Options Brokers on Commissions and Base Fees  

When taking a decision of launching an account on a new trading platform, it is necessary to study the reviews about additional expenses you may incur. Many brokers declare themselves as commission-free but in reality, there may be some hidden costs for many operations on the site. This fact is especially important for newer traders who are looking to start a trading career with minimum investments.

And in this category, we would like to give the top position to Plus500 broker. This company does not have brokerage contract fees as is the case with most CFD brokers.

Our Rating:
4 stars
Short info about the broker

Plus500 is an online broker that offers CFD trading, i.e. Contracts for Difference, in any financial product in the world, such as stock markets, indices, metals, commodities, cryptocurrencies. It has 2,800 financial instruments and over 1 million clients across 50 countries.

Min Deposit: 100$

Min Deal: Fixed spreads

Demo: Yes

Methods of deposit / withdrawal

  • Banking cards (VISA, MasterCard, Maestro)
  • Online payment systems (Skrill, Neteller)
  • E-wallets (Yandex.Money, QIWI, WebMoney)
  • Traditional bank transfer

Commissions / Fees

  • No commissions

Limits

  • No limits

Methods of deposit / withdrawal

  • Bank transfers
  • Credit / Debit Cards; Electronic wallets

Commissions / Fees

  • Available

Limits

  • Available

Methods of deposit / withdrawal

  • All major payment systems are supported: VISA, MS, QIWI, Neteller, Webmoney, Yandex.Money

Commissions / Fees

  • No commissions

Limits

  • Minimum withdrawal amount is $10

Methods of deposit / withdrawal

  • Electronic systems
  • Banking cards
  • Wire transfer

Commissions / Fees

  • No commissions

Limits

  • Minimum withdrawal amount is $10

Methods of deposit / withdrawal

  • Bank transfers
  • Credit / Debit Cards;  Electronic wallets
  • Internal transfers

Commissions / Fees

  • Aviable

Limits

  • Aviable

Methods of deposit / withdrawal

  • Credit card
  • PayPal and Skrill
  • Bank transfer

Commissions / Fees

  • No commissions

Limits

  • No limits for transactions 

FAQ

Which trading platform is best for beginners?

The beginners should start their trading experience on the platforms with the demo accounts and lowest possible investments. In our review, you may consider Olymp Trade.

Is Options Trading Better?

Options trading requires less investment compared to stocks, therefore this activity is considered to be less risky.

Where can I practice options trading?

The best approach is to start with a demo version. IQ Option broker offers a limitless demo account with $10,000 that can be always refunded.

Who is the richest option trader?

George Soros is the legendary personality of the financial market and the most famous trader. His capital is $ 24 billion today.

Is it possible to day trade options?

Day trading is the most affordable investment strategy now. It enables day traders to earn income much faster and often with less risk than when trading stocks, bonds and investment funds.

Highly Recommended
Visit Demo