Best Binary Options Software in 2022

Want to jump straight to the answer? The best options brokers for traders are BinaryCent and IQ Option

The #1 Forex Trading Course is Asia Forex Mentor

Though binary options software provides platforms for options traders to trade, there are significant differences between them and these differences can have a significant impact on your trading performance. These platforms can be uniquely beneficial or otherwise, based on your location, experience level, or trading needs.

Before choosing a binary options trading software, it is advisable to do some research and select the trading platform that is best suited for your trading style.

Fortunately, we have done the research for you. In the review, you will learn what binary options software are, and the best binary options software available right now. Let’s begin!

Best Binary Options Software: What are Binary Options

Simply put, binary options is an ‘all or none’ style of trading in which traders can make or lose money depending on whether or not their speculation about the market is correct. Binary traders speculate on whether the price of an asset would rise above or fall below a given price level within a specific time period. If the speculation turns out to be correct, then the trader receives a payout.

A binary options trader with bullish speculation buys a call at a specific strike price. If the asset trades above the strike price at the expiration period, then the call would be profitable. A trader with bearish speculation can choose a put option that allows them to make profits if the asset trades below the strike price at the expiration period.

One-touch binary options are trades that turn out profitable if the asset trades to a specific strike price prior to the expiration period. The target can be set above the current price or below it. This allows a trader to decide whether the target above or below the current price of the asset would be hit.

A binary options trading platform is simply one of the means of engaging in the financial market. The trading platforms provide access to different asset classes including;

• Forex
• Cfds
• Stocks
• Futures
• Commodities
• Cryptocurrencies
• Indices

5 Best Binary Options Softwares

#1. Best Trading Platform for Beginners: BinaryCent

BinaryCent is a unique binary trading platform that allows traders to execute trades and earn up to 90% in a minute. The platform is beginner-friendly and allows traders to trade forex and CFDs in addition to binary options trading.

New traders can make money while trading binary options by using the BinaryCent social trading service. This service allows traders to copy the trades executed by professional traders and ensures that novice traders can make profits while learning how to trade.

Furthermore, BinaryCent helps new traders avoid devastating losses and preserve their capital by allowing traders to trade with as low as 10 cents per trade. This is less than most binary options brokers, but it is extremely beneficial for traders because it gives them greater control over their trades and capital.

Pros

• 10 cent minimum trade amount
• 1-hour withdrawal processing time
• Allows trading on weekends
• Provides a social trading service

Cons

• $250 minimum deposit
• Insufficient educational content

Commission & Fees

• Commission ranges from about 0.1% to 0.2% of the underlying value of the asset.

#2. Best for Beginners: IQ Option

Iq option is a binary options broker regulated by the Cyprus Securities and Exchange Commission. It provides a wide variety of tradeable assets and offers a user-friendly website that provides access to its trading services. The expiration period of some trades can be up to a month and this allows traders who hold long-term positions to use this binary options broker with ease.

Unlike other trading platforms, Iq option has a mobile app that allows for mobile trading which is extremely convenient for most traders. The mobile app can be downloaded for free online and allows users to access their trading accounts and trading services provided by Iq option. This includes executing and managing trades and staying updated with the news and developments in the markets

A demo account can be used by any new trader to test a trading strategy before opening a live account on the Iq options trading platform. The demo account is simply a practice account that can be used to trade using the technical tools available on the Iq options binary trading platform.

Before live trading binary options on this platform, you need to deposit at least $10 into a free live account. In addition to binaries, you can also trade forex, commodities and crypto on the Iq options platform.

Pros

• No deposit and withdrawal fees
• Regulated by the Cyprus Securities and Exchange Commission (CySEC)
• Wide range of tradeable assets
• 24-hour customer service

Cons

• Traders in the USA, Australia, Canada, Russia, Belgium, Japan, Turkey, Israel, Iran, Sudan, and Syria are not accepted
• The minimum deposit is $10

Commission & Fees

• A Commission of 2.9% will be charged on certain crypto trades
• After 90 days of inactivity, IQ options will start applying a charge of €10 (or its currency equivalent)

#3. Best Signup Bonuses: RaceOption

RaceOption is a binary trading platform that allows traders to trade a variety of assets including forex, crypto and CFDs. The uniqueness of RaceOption lies in the variety of bonuses and rewards offered by the platform.

The affiliate marketing program encourages traders to refer friends to the platform and receive up to 20% bonuses when they make a deposit. This binary broker also organizes competitions and giveaways that provide an opportunity to win amazing gifts and cash prizes.

RaceOption also has a copy trading service. This enables traders to copy the trades of professional traders on the platform and make profits from them. This service is specifically beneficial for new traders who are yet to master profitable trading strategies.

Pros

• Social trading service is enabled
• 24-hour trading service including weekends
• 1-hour withdrawal processing time
• Provides numerous bonuses and rewards

Cons

• Minimum deposit of $250
• Minimum withdrawal of $50

Commission & Fees

• There are no withdrawal fees but the company charges a 5% commission for money transfers via VISA card.