To find the best account for trading in binary options online, you need to think about:
How much you want to open an account with: Most brokers need you to deposit money into your account before you can start trading. This varies by broker, so find one that you can afford.
How much you want to spend per trade: Most brokers have minimum and maximum trade limits, ranging between £1 and £20,000. Look for an account that matches how much you want to bet with.
What to trade: You can trade in several assets with binary options, including commodities, forex, indices and stocks. If you have a preference, look for a broker that offers the asset you want to trade.
What return to look for: This varies by broker, ranging from 80% to 100%. Look for the broker that offers the highest return to help increase your chances of making more money.
If you want to practice with a binary option platform before you use your money, try a demo account first.
What are the risks?
You have a higher chance of losing your money than making a profit when trading in binary options:
If you win, you could earn up to 100% of the value of your trade
If you do not win, you will lose 100% of the money you traded
The level of risk remains the same whether you trade over a minute or over several months.
Trading in binary options is very risky, so only invest what you can afford to lose.
Binary options trading account FAQs
What is binary options trading?
It is a form of gambling that lets you trade on an asset going up or down in value within a set time. Find out more here.
Can I cancel a binary option trade early?
Some brokers offer this option, but you may not get all your money back. Only invest money you can afford to lose when trading in binary options.
Do I pay tax on binary options trading?
No, there is no tax to pay on any profits you make because binary options is a form of gambling.
Is binary options trading regulated?
Yes, by the UK Gambling Commission. Find out how they regulate the binary option market here.
About our binary options trading accounts comparison
Who do we include in this comparison?
How do we make money from our comparison?
We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.