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Binary Options Trading Software.
Although the potential for profit is great, binary options are unpredictable. Using the right software can give you a significant edge.
Tim Fries.
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University .
Reviewed by.
Shane Neagle.
Shane Neagle.
Meet Shane. Shane first starting working with The Tokenist in September of 2018 — and has happily stuck around ever since. Originally from Maine, .
Updated January 10, 2022.
All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid.
Do you want to trade binary options? ️.
We’re not exactly surprised—the appeal is obvious. Unlike regular options, binary options can only result in one of two outcomes—either you profit a set amount, gain nothing at all, thereby losing your entire investment. Compared to vanilla options, binaries are much simpler.
However, you always have to keep in mind that this is a derivative, and as such, it’s inherently risky and volatile. Plus, it’s a short-term derivative at that—most binaries don’t have a tenor of over a week.
So, with all of that in mind, how do you get an edge? It’s simple—you start with software, first and foremost.
There are two main reasons why this is, bar none, the most important thing when trading binaries. First of all, you can’t actually trade them without a platform or at least an exchange, and second of all, with a volatile, short-term derivative such as a binary, you need technical analysis, charting tools, customizability, and lightning-fast execution.
Now, finding that isn’t easy—at all. The binary options space is densely populated by scams, frauds, and all plain old bad services. And there aren’t a lot of good, legitimate platforms and exchanges out there. Plus, on top of that, which legitimate ways you can trade will depend heavily on your place of residence.
Best Binary Options Trading Software
For something that is often touted as an easier alternative to regular options, binaries don’t seem so accessible now, do they? But, they can be—provided that you know what we know—and we’re gonna share that with you.
We’ve reviewed, tested, and read the fine print to bring you this list of the top binary options trading software. They’re all good, but they fill different niches—so let’s see which one is the best choice for you.
Top Binary Options Trading Software.
This is our top pick for the best binary options trading software:
Nadex Best for U.S. Traders BinaryCent Best Runner-Up Best Variety of Trading Platforms IQ Option Best for Beginners RaceOption Best for Global Access.
1. Nadex: Best for U.S. Traders.
Nadex is the largest and most regulated U.S. exchange that supports binary option trading.
First on our list is Nadex—one of only two CFTC regulated U.S.-based providers of binary options. With a transparent fee structure, good educational sources, and low fees overall, Nadex is a strong presence in the binary options space. It also offers quite a wide array of assets to trade.
Available in plenty of countries Quick account opening process CFTC regulated Good educational content.
Wire transfer fee Lack of third-party research Inactivity fee.
Visit Nadex on Nadex’s website.
Founded in Chicago in 2009, Nadex is an exchange that is specifically tailored toward binary options. As a CFTC-regulated entity, it boasts impeccable security and has to meet a variety of stringent regulations in order to safeguard investors.
Although we’ve selected it as the best platform for U.S. traders, Nadex is also available in a variety of other countries, including the UK, Japan, Switzerland, South Korea, South Africa, Germany, India, New Zealand, and Cyprus.
Seeing as how Nadex isn’t a brokerage, but an exchange (it only matches buyers and sellers), it gives clients access to real-time data free of charge. Opening an account is quite simple—the signup process takes about 5 minutes and requires proof of address and proof of identification. There is no minimum account deposit associated with this service.
Speaking of accounts, Nadex offers four account types: individual accounts for U.S. customers, individual accounts for international customers, demo accounts, and business accounts for U.S. businesses.
The desktop platform is responsive, well-designed, and quite customizable. It supports a good amount of drawing tools and technical indicators, as well as customizable charts. The platform also supports watchlists, daily market commentary from in-house experts, and video content.
Unfortunately, binary options mobile apps are currently banned in the U.S.—so Nadex does not have mobile support. However, they’ve responded to this by releasing a lighter, web-based platform that is meant to fill the same niche.
As far as fees go: Nadex charges no account maintenance fee, although there is an inactivity fee of $10 per month that is charged after 12 months without any account activity. In addition, wire transfers will incur a $25 fee, both in the case of a domestic and international wire.
Nadex also has plenty of well-produced educational content—especially when it comes to binary options. These guides explain everything that you’ll need to know—from basics like the components of a binary option, their risk and reward profiles, to more in-depth analyses of trading in volatile markets.
As far as tradable assets go, you can buy binary options for stock indices, forex (currencies), commodities, and news events. On the other hand, Nadex could do a bit more in the research department—there’s no research on individual securities and a jarring lack of third-party research.
All in all, Nadex has quite a few things going for it—and a very limited number of small issues—primarily the antiquated fees and the lack of mobile app . On the whole, it’s one of the top binary options platforms out there, if not the best—and a great choice for news traders in particular.
2. BinaryCent: Best Runner-Up.
Accessible, affordable, and user-friendly, BinaryCent is one of the leading binary options platforms outside the U.S.
Binarycent was founded in 2017 in the Marshall Islands. Although it lacks the strong regulatory licenses of Nadex and Cantor, it is regulated by a government agency—the Vanuatu Financial Services Commission (VFSC).
Intuitive platform Regulated Copy-trading feature Powerful charting tools.
Not available in the U.S. Glaring lack of educational content Stringent withdrawal requirements if you use bonuses.
Visit BinaryCent on BinaryCent’s website.
First things first—this platform is available to traders outside the U.S. If you’re in the U.S., you can’t open an account with Binarycent.
Although the brokerage is user-friendly, accessible, and affordable, one thing stands in the way of it being catered to beginners—and that is the lack of educational content. Binarycent doesn’t offer courses, platform tutorials, or educational video and written content. The only thing that is offered are relatively simplified explanations of basic terms relating to binary options trading.
On the other hand, this flaw is somewhat remedied by the fact that clients can make use of the copy-auto trading feature to mirror the trades of more experienced investors.

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