Best Binary Trading Platforms 2018 - How to Pick the Best One?

When traders start exploring the offering of instruments and platforms for online trading, it is very likely they might get confused, especially if they decide to trade binary options. Many brokers boast it is them that have the best platform and best trading conditions. With forex and CFDs, the situation is a bit different since it seems most of them agree MetaTrader4 is standard for that type of trading, so even when changing brokers, customers can always rely on MT4. With binary options, where platforms are usually web based, there are many offerings out there. So, which is the best binary trading platform?

The answer to these questions will definitely depend on the type of the trader you are. Lets try to make distinction between beginners and experienced traders for this purpose. Beginners prefer a simpler interface and easily accessible tools that are easy to apply. In this case, less can be more since it reduces cognitive load for someone who in many cases will not understand what many of the additional parameters even mean. Advanced traders are accustomed to a more complicated setting. They see themselves as pilots of a plane flying through the market storms and they need their tools to make sense of the complex environment.

SpotOption

SpotOption has for years been the biggest binary trading platform. It was a really simple platform with a chart and trading buttons. It was really easy to select the asset, choose expiry time and click on High/Low to place the trade. Even though it is simple, SpotOption is very powerful. It enabled traders to access many types of binary options, there is a multi-window mode, to trade several assets at one. It also has a Forex tab where forex trades can be made. Eventually iFollow – a copy trading feature was introduced, along with almost magical set of automatic strategy analysers. Today SpotOption binary options platform still looks a bit old, but the company has shifted toward other types of financial instruments, and new products look amazing.

SportOption 7/10

TechFinancials

TechFinancials was the first binary options platform that looked as if it was created for professionals. The platform interface is not just a small part of the internet browser – it is a full screen experience that looks a lot like today’s CFD web-traders. On the left is the asset list where one could also create favourites lists. The chart is taking a big part of the screen making it perfect for technical analysis. It can also be made even bigger for more in-depth analysis. Eventually TechFinancials expanded to forex and CFDs as well. One of their most popular brokers was 24option which switched when they decided to go their own way in platform development. Broker using TechFinancials is OptionFair. 

TechFinancials 8/10

IQoption

IQoption is the platform only used by their namesake brand. They decided to design their own platform and it seems it was the right decision. The broker is now bigger than ever. IQoption is not strictly a binary options platform – the offer options, digital options, cryptocurrency CFDs and Forex trading along with other types of underlying assets. The strength of the platform is its excellent integration of all the tools and instruments in an easy to use package. Even leveraged CFD trading is made simpler when it comes to technical execution. Tools are rivalling the best pro-platforms. Traders chat is another advantage.

IQoption 10/10

With these three platform providers we covered the biggest chunk of binary options market. We are aware that binary options platform is not the only factor to take into account when deciding on which binary options broker to choose, however, since the platform is the “space” where most time is spent by the trader, it makes sense to try and choose the best one available.