Once swimming in the Pacific Ocean with the big sharks, in 2019, the binary brokers are more like marmosets hidden deep into the jungles of Brazil and India. It is still possible to find them and it might be fun to play with them, but it is not allowed.
To trade cryptocurrencies, traders can use exchanges such as Bitfinex and Bittrex, but they can also trade crypto CFDs at forex brokers with higher leverage. While trading CFDs, you don't own the coins, but you can profit from higher volatility in the crypto market by guessing the price direction.
Some of the best forex brokers regulated by FCA (UK) and ASIC (AU) deliver currency pairs and cryptocurrencies, including Bitcoin, Litecoin and Ripple. The brokers offer traders direct access to the interbank liquidity. Traders can speculate on the forex and crypto markets by using leverage up to 1:1000.
HighLow is an Australia-regulated binary options broker backed by strong regulation from the ASIC. The brokerage runs a transparent business model, including offering client money protection.
Binary.com trading platform is customized and offers binary options with payouts up to 120%, as well as exotic options with up to 1900% return. It is a completely unique development that stands out from the rest of the competition.
Ayrex binary broker uses new technology software that increases trade execution by up to 0.028 seconds and offers up to 90% payouts on successful trades. At the same time, the broker runs automatic withdrawals thus providing a fair environment for all traders.
FX Options is a new trading instrument introduced by IQ Option in late 2018. The company launched the product as an alternative to binary options. Traders can buy Higher and Lower options with expiry times.
IQ Option provides binary options trading on its own platform based on WebGL technology. The company started providing financial instruments in 2013 and it is the first binary broker to succeed in implementing indicators on the trading platform. IQ Option was also running its own auto-trading robots for a short period.
The IQ Option platform is easy to navigate. Traders can switch between products in just one click. It offers high payouts on binary options (up to 93%), and forex leverage is up to 500. The crypto trading list is constantly growing, so you can expect more digital currencies to be added to the platform.
The Whaleclub platform is entirely based on cryptocurrencies and does not use fiat money in its operations. Because of its "No fiat" policy, the company doesn't require account verifications and accepts traders from more than 190 countries. A trader can open a live account in less than a minute and fund it with a quick transaction from a digital wallet.
Pepperstone is a forex broker regulated by the FCA in the UK and by ASIC in Australia. This broker provides traders with access to dark pool liquidity from over 20 banks, which ensures the lowest spreads and best prices in the market.
ForTrade has chosen to operate as an STP broker, which is fair enough to retail traders who are looking to make profit on the forex markets. The company has put some real effort into providing an education for beginners.
Questions & Answers
Yes, registering an account is free. However, if you want to open an account, you have to provide some personal information, such as name and address. You are also required to verify your account data by providing a copy of your ID and proof of address.
Whether your money is safe usually depends on the broker you decide to deal with. As a general rule, the safest brokers are regulated by some of the most reputable financial watchdogs, such as the FCA (UK) and ASIC (AU). It is highly recommended you do your own due diligence before you register with any forex broker.
To make a deposit at a forex broker, you can choose from plenty of options, including e-wallets, crypto wallets and credit cards. Most traders usually choose to use e-wallets, such as Neteller and Skrill, because of the low fees. Some forex brokers also work with PayPal.