The Best Binary Options Platforms in India

  PLATFORM: DEPOSIT TRADE REVIEW
1 IQ Option 10$ 1$
2 Binary.com 5$ 0.5$
3 Olymptrade 10$ 1$
4 Binomo 10$ 1$
5 OctaFX 5$ 1$
6 FBS Forex 10$ 1$
7 Instaforex 10$ 1$
8 FxPro 10$ 1$
9 Exness 1$ 1$
10 eToro 50$ 1$
11 FXTM 5$ 1$
12 HotForex 5$ 1$
13 Plus500 5$ 1$
14 Tickmill 5$ 1$

Trading binary options online carries with it a lot of risk in the fact that you have to predict an outcome and hope your right. There is no in-between. The prediction is either correct or incorrect. Still, trading in binary options carries with it other risk factors which means you have to find the best platform to place your trades. This is because of several important reasons.

Binary Options

  1. Reliable Payouts

Honesty and Reliability for Payouts is a big motivator to find the best platform. So often in groups and chat rooms, you'll see someone complain about not being able to access their trading account to withdraw the money in it. This is because of the presence of unscrupulous trading platforms out to take advantage of traders. You go through a smooth and easy registration process, deposit funds into your trading account and place a trade.

Once your trade earns you profit, you request a payout and that's when the issues start. The company either disappears altogether and the site shuts down. Since its online, it's that much harder to trace the owners. Another way used to dupe users is to put wording in the Terms and Conditions that mean you can't access your funds. This is why it's best to trade with platforms that are regulated and licensed.

This means they are answerable for their practice and behavior. They, therefore, provide reliable services and accept customer payout requests without any delays. The best in the industry like IQ Option and Olymp Trade takes only about 11 hours max to process a payout request.

  1. Years of Experience

How long the company has been in business is another important factor to consider when searching for the best platform. Good and reputable ones have been in existence for years offering topnotch services. A little research on them shows you how reliable they can be. They are regulated by top boards like the International Finance Corporation and have years of online trading experience under their belt. This is crucial because you want to trust your money with a platform that knows what it is doing. From time to time you'll need some assistance or have a question that needs immediate answers.

  1. Good Customer Support

Find a platform that has reliable customer support. Top companies like Binomo have a response time of only 15 seconds for live chat sessions. You don't have to wait for long to get a response on a crucial matter that affects your placed trades or account. This platform must have different modes of communication to use including live chat, direct phone lines, physical offices, email, and active social media pages. You can use any of them to reach out.

  1. Functional App

The platform you choose has to have a functional and user-friendly app that you can easily download onto your phone or tablet. With an app, you become more mobile as you place your trades and keep an eye on them. You don't have to spend the better part of your day glued in front of a desktop placing trades and waiting for their outcomes. With the right platform, the app functions well and has all the features of the main website meaning you won't miss out on any important aspect when using your mobile device.

How to Compare Brokers and Trading Platforms

How to compare brokers

There are certain aspects of binary trading that you can use to compare a broker and a platform.

  • Licensing and Regulation

The best platforms have their licenses in order and are regulated by top financial boards in the world like the IFC. This makes them reliable and trustworthy because they offer services that are transparent and benefit their users. When looking for a platform to place trades, this should be one of the areas you look into to prove the legitimacy of that website. Those are regulated must follow a strict code of conduct which includes favorable Terms and Conditions without any wordings that may harm users.

  • Demo Account

A platform that wants you to win in binary trading gives you a chance to practice through a demo account. Binary.com, for example, gives you a demo account with 10.000 in it as virtual funds. Use this money to practice trading as much as you can until you're confident in your skills. Only after doing this should you set up a standard account and start placing trades. You are not permitted to withdraw profits obtained using virtual funds but you get invaluable training.

  • Minimal Deposit

How much must you deposit into your trading account to place trades? Top platforms like Olymp Trade and Binary.com have a minimum balance of $5-$10. This means you can start small as a beginner and learn to trade before depositing huge sums of money. You can always upgrade your account later when you get the hang of things. These companies also have a very low starting trade amount of $1 again for your benefit.

  • Fast Withdrawal

You want a platform that doesn't play games when it comes to payouts. Some try to hide certain terms in the terms and Conditions either limiting how much you can withdraw or sneaking in extra charges. There are even platforms that outright deny your withdrawal request.

You need to select one that has a fast payout rate and a proven track record of this. In the numbers section, you can see just how much a platform has processed in terms of payouts like IQ Option that has so far in 2020 processed payouts to the tune of $20,375,097 per month and only takes you 11 hours to receive your money.

  • Reliability and Reputation

One way to learn the reputation of a company is not in what is said, it's about the activity on its platform. Top platforms have thousands of active users and millions of registered members. This means many people trust it with their money and time. IQ Option has 48.09 Million registered users as of 2020 with 1.338 Million placed trades per day.

5 Tips to Choose a Binary Option Platform

Tips to Choose a Binary Option Platform

Choosing a reliable and honest platform should be your priority to avoid those that are out to take advantage of you. You can do this by checking into several aspects of potential platforms you want to use for placing trades.

  1. Test Its Customer Service

As you start in binary trading, you might not be completely green. There is a reason you were drawn to this, maybe a friend is doing well and you want the same. This prompted you to start researching platforms. Well, start by putting the customer support for these platforms, maybe your top 4, to the test. Make inquiries on their chat sessions and note how fast they respond.

Also, when they respond, is it helpful or its just fast jargon that you can't understand? The best platform is the one that takes time to help you through your trading problem making sure you understand everything before they leave you to continue. How they greet you and sign off matters as well.

  1. Educative Material

The best platforms are those that are concerned for their users, especially beginners. They have educative materials to help you. This comes in the form of blogs, glossary, FAQ, and even video tutorials that hold your hand throughout the first steps in binary trading. These materials aren't sold to you. Companies that sell them are out to make money and have no interest in helping you out. With proper training and information, you don't feel very unsure as you start placing trades because the company cared enough to help you learn what to do.

  1. Terms and Conditions

They are long and seemingly boring to read but you have to. Never skip reading through the Terms and Conditions of a platform. In the future, you might find yourself in a bind due to one or two that limit you on that platform. The best websites like IQ Option and Olymp Trade need to adhere to ethical practices so they have very standard Terms and Conditions.

The same can't be said for all platforms. Some choose to be sneaky and limit payouts or even hinder them with long periods of waiting. When you complain, they refer you to the T&C of the company. Take your time and read through them from start to finish. Any part you don't understand, get it clarified by the customer support.

  1. User-friendly Interface

The interface of the platform you choose has to be very user-friendly. This means it loads easily and at first glance of the homepage, you can understand all the content on it. You want a platform that keeps information and details simple and doesn't use complex words to throw you off.

Some platforms make their pages very complicated in a bid to frustrate the user, especially when looking for information on certain areas like payouts. Check a page that has all that you need and you can understand it at first glance. A user-friendly interface helps you relax as you start using the platform to place trades.

  1. Automatic Trading

This is a feature that you can find on some platforms where algorithms are availed to help you choose the right trades to place. The math is done in advance and you get the information in the form of helpful tips pointing you in the right direction.

As a beginner, this can be a very helpful characteristic to look for in the first platform you sign up to. Make sure the platform is helpful and not leading you in the wrong direction. You can read user reviews to see if its automatic trading tips are helpful or are a waste of time.

Regulation

Regulation

There are parts of the world where binary options are illegal but for the rest of it, it's legal but heavily regulated. Platforms that have binary trading have to adhere to certain rules as per the regulating authorities. Only the companies that accept to be regulated and follow set regulations should be in your list of potential platforms. As you research the websites, check for those that are regulated and by whom?

You can go a step further and contact these regulating authorities for a recommendation of the best platforms for binary trading. You're about to start placing trades using real money so it's best to be in good hands from the very start. Not all platforms are regulated as some refuse to open their operations to scrutiny by regulating bodies and authorities. This mostly means these are the ones with something to hide and don't run their operations ethically.

Steer clear of platforms that have no licenses or regulators to keep them accountable. The best like IQ Option and Binary.com are not only fully licensed to operate but are regulated by top bodies like the IFC (International Finance Commission). This makes them reliable and honest platforms that you can trust to give you a fair trading platform to place your trades. Some of the top regulators for binary trading include FCA (Financial Conduct Authority), CySEC, FINRA (Financial Industry Regulatory Authority) among others.

  • FCA

This is a regulatory body based out of the UK that has a reputation for enforcing very strict rules for platforms to adhere to. The ones regulated by them are seen as the safest choice. This is because they have to work very hard to prove they deserve the license.

  • CySEC

This is another regulatory body that oversees trading platforms but doesn't enforce rules as strictly as FCA. It issues warnings and fines to platforms that have practices that don't adhere to the rule. It's been accused of being too lenient to then though.

  • FINRA

This is a regulatory authority that is based in the US that carries out its investigation of platforms once they receive complaints from users. They wield some power that sees them address these matters efficiently.

  • CFTC (Commodities Futures Trading Commission)

This is a regulator that operates under the act of commodity exchange and uses it to regulate companies in the US. Its main agenda is to ensure the platforms are transparent and honest in the service they render.

Top 4 Regulated Binary Trading Platforms in India

IQ Option

IQ Option

With over 48M users with an account on this platform, no wonder it ranks among the top binary trading platforms in the world. Not only that, it's taken great lengths to create a website that is user-friendly and has all users need to place trades. It was founded back in 2013 and in such a short time managed to rank very high. This platform has a good reputation among members who continue to trust its services daily. This is the reason it boasts of very high numbers that are bound to catch anyone's attention.

It has a very high monthly trading volume of $380M. Payouts processed in a month also range at $20M and above. The fact that it's managed to be in business for this long and continues to grow proves that it's a reliable platform. As a beginner on this platform, start by checking out the training materials and the demo account.

Apply all that you learn on the demo account that comes with $10000 in the form of virtual funds. Here you test your trading skills before you set up a trading account. Once you're confident you know what to do then you proceed to create a standard account and start placing trades.

The minimum amount you can deposit into your account is $10 meaning you can start trading small. Trades start at only $1. This platform is regulated by top bodies like CySEC further cementing its reliability as an honest platform. You can check out the complete review on our website and be the judge of it.

Binary.com

Binary.com

Yet another high ranking platform that goes all out to ensure its users are satisfied it Binary.com. With such an impressive history in trading, it's come a long way since starting operations back in 1999. It offers a whole host of trading instruments including binary options for users to trade on daily. It's reliable and honest in its operations which are why it's survived this long and keeps growing.

Currently, the company boasts of transactions that range over $275M in 2019 and has a projection of attaining $377M in 2020. If it manages to achieve this then it makes its total turnover since 1999 to be $9.2Billion.

On this platform, you get an interface that is very user-friendly and educative material to get you started in binary trading. It has good staff in 4 different countries and cities namely Dubai, Paraguay, Malta, and Malaysia. The current total staff is 250.

To start you off on this platform as a beginner, set up a virtual/demo account to train on placing trades on all the assets options you have access to. You get $10000 on this account to use as virtual funds and you can't withdraw profits you get from trading here.

For payouts, you need a standard account where you deposit real money with the minimum being $5. Trades start at $1. Opt to download the Binary.com app on your mobile devices like a tablet or a smartphone and access your existing account easily. You can trade from anywhere at any time with a good and reliable internet connection. The app has a friendly interface and all the features of the main website.

You can even create a new account as a beginner on it. This platform is regulated in 4 jurisdictions including the UK, Malta, Ireland, and the Isle of Man. Read through the complete review for this platform on the website and decide if it's worth it or not.

Binomo

Binomo

You get choices when it comes to trading platforms with honest and reliable reputations and Binomo is one of them. Being a member of the IFC cements this fact because membership comes at a steep price. Only the most honest and transparent ones in there services are accorded membership. Here is a platform with impressive numbers and high ranks that you can't pass it by in your choices.

It has a presence in 133 countries and has millions of registered users. Its daily activity ranks at 951,459 meaning very many people choose it daily as the best place to trade. You can use this platform and have it translated to 12 different languages making it easier for the diverse group of users to understand it. It's managed to rack up trades of $29,675,110 as of March 2020 with still more to come.

Getting started on this platform is very straightforward for all you need is to register a trading account. The best place to start though is with a demo account while taking advantage of the educative material provided on this platform. A demo account gives you a chance to practice all your trading skills even though it's not as funded as other platforms are. Here you only get $1000 as virtual funds to practice with.

Once you're done, proceed to sign up. It only takes you a few minutes to complete the registration process and choose from the 4 types of accounts. They all have a minimum balance that you have to maintain except the Free account. The minimum you can deposit is $10 in the standard account. Placing trades starts at $1.

A 24/7 customer support ready to answer any questions or assist in any way possible on matters trading. You can opt to download the Binomo app onto your smartphone or tablet and start placing bets from anywhere at any time. This frees you up and you can be mobile as you place trades and check on their progress. On this platform, you can take part in different tournaments with lucrative prize funds.

It's regulated by the FMRRC (Financial Markets Relations Regulation Center). There are pending requests to be regulated by Commodity Pool Operators (CPO) and CySEC. Visit our website and read the complete review on Binomo then decide whether it's the platform for you.

Olymp Trade

Olymp Trade

In 2014, Olymp Trade was set up as a platform where users could take part in online Forex Trading. Since then, it's managed to rise in popularity ranking among the best and most reliable companies in the world. It was founded by Inlustris Limited and offers a wide range of instruments that you can invest in daily.

This is a company with high consideration for beginners in the industry and offers educative materials to help you learn Forex trading. No one wants to invest and end up with losses. This company equips you with materials on strategies, webinars, and webinars forex for your benefit. You can access this platform in 20 different languages. This is a great consideration because many people are not native English speakers.

Also, it's an award-winning company that has caught the attention of many and been rewarded for its efforts of creating a reputable and trustworthy platform. In 2018 it won the 'Best Traders FB Community in Thailand' awarded by Traders Fair. Also in the same year, it managed to win the 'Best Trading Platform 2018' awarded by The Forex Awards.

2020 has been an impressive year for this platform which last month managed to have payouts averaging at $13,681,062. It's experiencing a 7% increase in the number of monthly payouts this year. Traders are very happy with it because they can withdraw their profits at any time without any additional fees charges to them. You only need to meet the minimum deposit to get an account and no additional fees are charged to it. The company last month managed to have a total of 247,256 users active live on their accounts. The total turnover for the past month was the best yet for 2020 with a total of $171,236,104. This year the company is set to grow even bigger and gain more members in the process.

With it being a member of reputable international bodies like the International Finance Commission (IFC), no wonder so many people trust it as a worthy platform to trade from. This is because it's being categorized as an honest company that demonstrates services of the highest quality.

Users are guaranteed an ever-present and reliable customer support system with agents who are on 24/7. You can access them in 8 different languages and using different modes of communication. It takes an agent only 15 seconds to respond. You can opt to chat with them live on the website or its social media pages. You can even send an email for a detailed question or comment.

As a beginner, take your time to familiarize yourself with the platform by creating a demo account. With it, you can use the virtual funds to the tune of $10000 to place trades. You're not allowed to withdraw the profits you win on this account, however. You need to open a standard or VIP account for that. The minimum amount you can deposit is $10 and placing trades start at $1. The complete review is on our website and can help you decide is this is the best platform for you or not.

Should you Use Multiple Trading Platforms?

Should you Use Multiple Trading Platforms?

One of the most basic principles of investing is to diversify your portfolio. This means makes sure you don't put all your money into one trading instrument. The wisest choice is to spread it out on several which increase your chances of turning a profit. Well, the same applies to trading platforms. You can opt to select the top 4 listed on this guide and have standard accounts in them. You have a budget in mind then subdivide the amount among all four websites. Remember binary trading on these platforms incurs no extra charges or fees which means you don't have to worry about dishing out more money.

By doing this, you increase your chances of making correct predictions and turning a profit on your investment. Diversification is the wise choice because it's most likely won't be all that lose meaning you win on some and lose on others. At the end of the day, you might end up earning back your invested amount or with some profit on it.

The top four platforms being Olymp Trade, Binomo, Binary.com, and IQoption have very low minimum balances ranging from $5 to $10. Placing trades starts from as low as $1. So why not operate multiple accounts, it's not illegal in any way. It's very advantageous to have multiple trading accounts but with only honest and reputable websites. You even get to enjoy multiple customer support. In case one takes too long to answer or gives an inconclusive one then you can contact the customer care team for the other platforms. You end up getting what you need at the right time with minimal delay.

With multiple accounts, you access more training materials and have that many demo accounts to practice on. Each reputable platform listed here has a demo account with virtual funds in it to help you learn and sharpen your trading skills. You have to do this as a beginner before proceeding to real accounts. Signing up to multiple trading accounts increases your chances if learning even more and becoming more skilled in placing correct trades.

Conclusion

The four top platforms IQ Option, Olymp Trade, Binary.com, and Binomo are great choices when choosing a binary trading platform. You can even sign up for all of them and have multiple accounts to use. They have demo accounts with virtual funds that you can use for further training and sharpening your trading skills.

There are no risks involved or charges to use the demo accounts to test your skills while learning how the platforms operate. They all have educative materials that you need to take full advantage of and learn as much as you can on binary trading. This even includes free video tutorials. Read complete reviews on them on our website then make your decision.

Risk Warning

We understand the binary options & Forex industry is huge and volatile for people who lack basic knowledge about online trading. If you are a beginner, you should make this site your companion (and please practice trading skills on free demo accounts, don't invest real money if you are beginner: remember, Forex trading, as long as trading binary options, crypto or CFDs, carries a risk of losing money due to leverage. About 77% of retail investors lose money when trading CFDs). Read in other languages: RU, ES, VI, PT-BR.