Crypto binary options are a type of financial derivative that allows traders to speculate on the price movements of cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. Binary options are different from traditional options in that they have only two possible outcomes: either the trader receives a fixed payout if the option expires in the money, or the trader loses the entire investment if the option expires out of the money. Crypto binary options are also known as digital options, fixed-return options, or all-or-nothing options.
There are several advantages of trading crypto binary options, such as:
- Simplicity: Crypto binary options are easy to understand and execute, as the trader only needs to predict whether the price of the underlying asset will be higher or lower than a certain level at a specified time.
- Flexibility: Crypto binary options offer a wide range of trading opportunities, as the trader can choose from various assets, expiry times, and payout rates. Crypto binary options can also be customized to suit different risk-reward profiles and trading strategies.
- Profitability: Crypto binary options can generate high returns in a short time, as the payouts can range from 70% to 95% or more. Crypto binary options can also benefit from the volatility and liquidity of the cryptocurrency market, which can create favorable trading conditions.
To trade crypto binary options, traders need to find a reliable and trustworthy broker that offers this service. In this comprehensive guide, we have listed the best crypto binary options brokers for you, along with their most valuable features to help you make the right selection for your binary options trading.
Here are the top five crypto binary options brokers:
- Pocket Option
- Quotex
- ExpertOption
- Deriv
- IQ Option
1. Pocket Option
Pocket Option is a trading platform that offers binary options on various assets, such as forex, stocks, crypto, and commodities.
Pocket Option provides ultra-short-term binaries starting at 5 seconds on one of the most basic online platforms for beginners. Payouts rival alternatives at 95% or higher, while the ‘Double Up’ and ‘Rollover’ features bring additional profit chances.
The broker offers a simple and intuitive web platform that can be accessed from any device and browser and is not limited to any app or software. It also lists over 40 cryptocurrencies including BTC, ETH, AVAX, ADA, AAVE, and 100+ crypto pairs. There are also stocks and commodity instruments available to traders.
The minimum deposit on Pocket Option is $50 and offers a 50% deposit bonus for new customers. Any new customer can partake in this bonus exercise. What’s more is that the more you put in on your first deposit, the more your bonus.
Pocket Option also offers various promotions, contests, and tournaments where they can win cash prizes.
There are multiple deposit and withdrawal methods such as Visa/MasterCard, wire transfers, electronic wallet transfers (like Coinbase), and payment in Bitcoin, ETH, or Altcoins.
Additionally, Pocket Option provides users with a demo account that holds $10,000 of virtual funds for practice and test trading, and is risk-free. The interesting part is that if the demo money is lost, it can be recharged and used again for practice.
Pocket Option has received mixed reviews from customers and experts, who have praised its platform, broker, and support team, but also criticized its regulation, security, and volatility. Pocket Option is not regulated in many jurisdictions, which means that traders may not have adequate legal protection or recourse in case of disputes or fraud.
Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Good interface | ❌ Limited expiry time on trades |
| ✅ No commission | ❌ Weak security verification |
| ✅ Payout of up to 95% | ❌ Only provides one account type |
| ✅ Demo account available | |
| ✅ 50% deposit bonus |
2. Quotex
Quotex is an innovative broker that specializes in binary and digital asset trading. The company provides a large range of trading assets, simple one-click trading, and a variety of banking options.
Quotex also offers ultra-short-term binaries on hundreds of assets. The broker offers crypto options, stocks, commodities, and Forex instruments. It also has a high payout of up to 98% on trades, with an expiry duration of 5 seconds to 4 hours.
The minimum deposit allowed on Quotex is $10, and the minimum trade is $1. New customers are also entitled to a 30% bonus on their first deposit. The platform offers a convenient interface for its users, and new customers are entitled to a demo account with $10,000 of virtual currency to practice with. The demo account gives users free access to the trading features on the platform but restricts them from getting live news feeds and trading tips. The broker’s charts respond quickly to market swings and can be substantially customized.
The platform includes hundreds of regularly used indicators, each of which can be customized to the trader’s preferences. Ordering screens are placed to the right of the display, making it simple to execute trades. Trading signals and market news are also provided, but only those with a live account can access them.
Additionally, Quotex offers integrated signals with an accuracy of 87% on market analysis to help users maximize trades. There are over 400 instruments available for users to choose from, ranging from crypto assets to forex pairs, commodities, and stocks.
As mentioned, the minimum deposit amount on Quotex is $10. There are also several withdrawal methods available, primarily BTC payments, ETH payments, credit/debit card payments, and Visa/MasterCard payments.
Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Good interface | ❌ Unregulated |
| ✅ Demo account | ❌ Does not offer leverage |
| ✅ Vast number of supported instruments | ❌ Poor customer support |
| ✅ Offers trading signals | |
| ✅ Bonuses available |
3. ExpertOption
ExpertOption is one of the oldest-running financial trading platforms that you’ll find today. The brokerage has a solid reputation, boasting more than 30 million deals being executed each month.
Amongst other things, ExpertOption has one of the best trading interfaces that financial service providers offer. Its trading platform is easy and intuitive, providing charts and direct access to trade. The charts can be configured in four different ways, including candles and price bars, with order tabs at the bottom of the screen. Users are only entitled to a single style of trade on ExpertOption, which is a long/short call on a desired asset.
Trading on the exchange does not attract any fees or commissions. The platform supports trading 100+ assets, including cryptocurrencies, forex trading, and commodities. Payouts on ExpertOption are as high as 95%, and trades can be executed within 1 to 5 minutes.
On ExpertOption, traders are entitled to a copy trading account where users can copy the trades of those better than they are for indirect mentorship by following their trades and learning from them, or reaching out to them via a social media handle.
Additionally, there are more than 15 different payment methods available on the company including Visa, MasterCard, Skillman, Monroe, bank wires, and others. Deposits can also be made using an e-wallet or a debit/credit card.
In contrast to previous incentive programs we’ve encountered, ExpertOption’s bonus program operates rather differently. As a welcome bonus,100% of the initial deposit is granted and instantly deposited to the account.
The drawback is that the bonus cannot be taken out and isn’t even applied until all of the money that was deposited has been deducted. After that, traders can continue trading with the bonus money until they turn a profit. You may withdraw any earnings over the bonus amount.
Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Good interface | ❌ A limited number of assets |
| ✅ Demo account available | ❌ Not available to US and UK citizens |
| ✅ A good number of payment options | ❌ Limited features |
| ✅ Social trading available | ❌ No conditions for active trading |
| ✅ Payouts of up to 95% |
4. Deriv
Deriv is a leading binary options broker, with licenses from different institutions like the British Virgin Islands Financial Service Commission and Labuan Financial Services Authority.
Deriv offers CFDs, multipliers, and binary options on both its trading platforms and the well-known MT5 software. This broker has demonstrated preference from aspiring traders due to its low minimum deposit, more than 100 products, and round-the-clock trading.
Typically, another factor that makes this broker stand out among others is its 100% payout possibility and its provision for users to be involved in diverse trade types. These include CFDs, Options trading, and Multipliers.
On Deriv, users can trade Cryptocurrencies, Forex, ETFs, and Stocks with 100+ assets and a smooth interface that makes it suitable for beginners.
The minimum deposit available on the platform is $5, which is low compared to many other popular brokers around. The minimum trade option is $1, and Deriv does not offer bonuses to new members.
There are 30+ payment options that users can find on the platform, including ADVcash, Banxa, Credit card and Debit card payments, MasterCard payments, and wire transfers.
Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Regulated | ❌ A limited number of assets |
| ✅ Offers 3 unique trading styles | ❌ Limited bonuses available |
| ✅ 30+ payment methods | ❌ Does not offer options for trading to UK and EU residents |
| ✅ Copy trading platform | |
| ✅ A demo account is available to newbies | |
| ✅ MT5 software |
5. IQ Option
IQ Option is a fast-paced online trading platform that allows users to trade various financial instruments, such as forex, stocks, ETFs, indices, and options. Users can access the platform through a desktop or mobile app, or a web browser. IQ Option offers features such as analysis, alerts, risk management, and community to help users optimize their trading strategies and performance. 
Some of the instruments available on IQ Option are:
Forex: Users can trade major, minor, and exotic currency pairs with efficient spreads1. Forex trading involves buying and selling currencies based on their exchange rates.
Stocks: Users can trade CFDs (contracts for difference) on stocks of leading companies and industry giants without actually owning them. CFDs allow users to profit from the price movements of the underlying assets.
ETFs: Users can trade CFDs on exchange-traded funds, which are collections of securities that track an index, a sector, or a commodity. ETFs offer diversification and exposure to different markets and industries.
Indices: Users can trade CFDs on indices, which are indicators of the performance of a group of stocks or a market segment. Indices reflect the overall sentiment and direction of the market.
Options: Users can trade options, which are contracts that give the buyer the right, but not the obligation, to buy or sell an underlying asset at a specified price and time. Options can be used for hedging, speculation, or income generation.
IQ Option supports various payment methods for deposits and withdrawals, such as:
- Credit and debit cards: Users can use Visa, Mastercard, or Maestro cards to fund their accounts or withdraw their earnings. The minimum deposit amount is $10 and the minimum withdrawal amount is $2.
- E-wallets: Users can use e-wallets such as Skrill, Neteller, WebMoney, AdvCash, or Perfect Money to make transactions. The minimum deposit and withdrawal amounts vary depending on the e-wallet service.
- Bank transfers: Users can use bank transfers to transfer money to and from their accounts. The minimum deposit and withdrawal amounts are $10 and $50.
Pros and Cons
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Payout of up to 100% | ❌ Limited amount of assets to trade |
| ✅ Fast-paced trading platform | ❌ Not all trading conditions are shown on the platform |
| ✅ Secure verification process | |
| ✅ Variety of trading options |
What is crypto binary options trading?
Crypto binary options trading is a form of online trading that involves predicting the price movements of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and others. Crypto binary options traders can profit from the volatility and diversity of the crypto market by betting on whether the price of a certain cryptocurrency will go up or down in a fixed period.
To trade crypto binary options, you need to find a reliable broker that offers this type of contract. You can choose from different expiry times, ranging from seconds to months, and different payout rates, depending on the risk and reward of your prediction. You can also use various tools and strategies to enhance your trading performance, such as technical analysis, indicators, signals, and robots.
How to choose a crypto binary options broker
Choosing a crypto binary options broker is a very important factor in trading binary options. There are certain factors to consider before you select a broker to put in your funds. Here we will show you some of the important factors you will need to consider before you select a broker for your binary options trading.
Here are some factors to consider when looking for a reliable and reputable broker:
Regulation and reputation: You should check if the broker is regulated by a reputable authority, such as the MFSA, GSC, or MGA. This can ensure that the broker follows high standards of security, fairness, and customer protection. You should also check the broker’s online reviews and ratings from other traders and experts.
Payouts and assets: You should compare the payouts and assets offered by different brokers. Payouts are the percentage of profit you can earn from a successful trade, and they can vary from 70% to 98% depending on the broker and the asset. Assets are the underlying instruments that you can trade, such as forex, stocks, indices, commodities, and cryptocurrencies. You should look for a broker that offers high payouts and a wide range of assets, especially crypto-related ones.
Platform and features: You should test the broker’s platform and features before opening an account. The platform should be user-friendly, fast, and secure, with various tools and indicators to help you analyze the market and execute your trades. The features should include different types of binary options contracts, such as high/low, touch/no touch, boundary, and ladder, as well as different expiry times, from seconds to months. Some brokers also offer additional features, such as social trading, signals, robots, and bonuses.
Deposits and withdrawals: You should check the broker’s deposit and withdrawal methods, limits, and fees. You should look for a broker that accepts cryptocurrencies as a deposit and withdrawal option, as this can offer you more convenience, privacy, and security. You should also check the minimum deposit required to open an account, the minimum and maximum withdrawal amounts, and the processing time and fees for each transaction.
Based on these criteria, some of the best crypto binary options brokers have already been listed above.
Pros and Cons
Pros
- You can trade 24/7, as the crypto market never sleeps
- You can benefit from both rising and falling markets
- You can start with a low minimum deposit and trade with small amounts
- You can diversify your portfolio and hedge against other risks
- You can enjoy fast and secure transactions with cryptocurrencies
Cons
- You can lose your entire investment if your prediction is wrong
- You can face high fees and commissions from some brokers
- You can encounter scams and frauds in the unregulated market
- You can experience high volatility and unpredictability in the crypto market
- You can face legal and regulatory issues in some countries.
What are binary options bonuses?
Binary options bonuses are incentives offered by brokers to attract new or existing traders to deposit and trade with them. Binary options bonuses can increase your trading capital, enhance your performance, and reduce your risks. However, they also come with terms and conditions that you should read carefully before accepting them.
There are different types of binary options bonuses, such as:
- No deposit bonus: This is a bonus that you can receive without making any deposit. It is usually a small amount of money that you can use to trade and withdraw the profits if you meet the requirements.
- Deposit match bonus: This is a bonus that matches a percentage of your deposit, up to a certain limit. It is usually a larger amount of money that you can use to trade and withdraw the profits if you meet the requirements.
- Risk-free trade: This is a bonus that refunds your loss if your trade ends out of the money. It is usually a limited number of trades that you can use to trade and keep the profits if you win.
- Education material: This is a bonus that provides you with access to training courses, webinars, ebooks, or other learning resources. It is usually a valuable source of information that you can use to improve your trading skills and knowledge.
- Hardware or prizes: This is a bonus that rewards you with gadgets, devices, or other prizes for achieving certain trading goals or participating in contests. It is usually a fun and exciting way to motivate and challenge yourself.
How to start trading crypto binary options?
Crypto binary options are a way of betting on the price movements of cryptocurrencies, such as Bitcoin, Ethereum, and others. Here are the steps to start trading crypto binary options:
- Choose a reliable broker that offers crypto binary options. You can find some of the best brokers in the web search results. Make sure the broker is regulated, has a good reputation, and offers high payouts and a wide range of assets.
- Open an account with the broker and deposit some funds. You can use cryptocurrencies or other payment methods, depending on the broker. The minimum deposit varies from $5 to $50, depending on the broker.
- Select a cryptocurrency pair that you want to trade, such as BTC/USD, ETH/USD, or LTC/USD. You can also trade crypto indices, such as Crypto 10 or Crypto 30, which track the performance of the top cryptocurrencies.
- Choose an expiry time for your trade, ranging from seconds to months. The expiry time is the duration of your contract, after which your trade will be closed and settled.
- Choose a direction for your trade, either Call or Put. Call means you think the price of the cryptocurrency will go up by the expiry time, while Put means you think the price will go down.
- Enter the amount of money you want to invest in your trade. The minimum bet is usually $1, depending on the broker. You will see the potential payout and loss before you confirm your trade.
- Confirm your trade and wait for the outcome. If your prediction is correct, you will receive the payout, which can be up to 95% of your investment. If your prediction is wrong, you will lose your investment.
- Repeat the process as many times as you want, or close your account and withdraw your funds. You can use various tools and strategies to improve your trading performance, such as technical analysis, indicators, signals, and robots.
Crypto binary options trading is a high-risk activity and you should only invest what you can afford to lose. You should also be aware of the legal and regulatory issues in your country, as some jurisdictions may prohibit or restrict this type of trading.
FAQs
What are crypto binary options?
Crypto binary options are a type of online trading that involves predicting the price movements of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and others. You can profit from the volatility and diversity of the crypto market by betting on whether the price of a certain cryptocurrency will go up or down in a fixed period.
How do I trade crypto binary options?
To trade crypto binary options, you need to find a reliable broker that offers this type of contract. You can choose from different expiry times, ranging from seconds to months, and different payout rates, depending on the risk and reward of your prediction. You can also use various tools and strategies to enhance your trading performance, such as technical analysis, indicators, signals, and robots.
Which brokers offer crypto binary options?
Many brokers offer crypto binary options, but you should be careful and do your research before choosing one. Some of the factors to consider are regulation, reputation, payouts, assets, platform, features, deposits, and withdrawals.
What are the risks and rewards of crypto binary options trading?
Crypto binary options trading is a high-risk, high-reward activity. You can earn up to 95% of your investment in a matter of seconds or minutes, but you can also lose it all if your prediction is wrong. You should only invest what you can afford to lose and be aware of the legal and regulatory issues in your country.
Can I trade Bitcoin binary options?
Yes, you can trade Bitcoin binary options. Bitcoin options trading is among many crypto assets that you can trade, and some platforms even offer more than 100 other assets.
When can I trade crypto binary options?
Crypto binary options can be traded anytime, any day within 24-hours of the day.
One benefit of trading crypto binary options is that it is traded seven days a week, twenty-four hours a day, in contrast to other binary options marketplaces. Due to its accessibility, traders may place more contracts for cryptocurrency binary options and have more flexibility in determining when contracts expire.
