Binary Options Apps
Binary options apps are perfect for investors looking to manage trades from their mobile devices. The best applications allow users to make deposits, purchase binary contracts, and utilize additional tools, such as signals and social trading features.
In this guide, we list the top binary options trading apps in 2024. We also explain how to compare mobile apps, alongside compatibility requirements and download instructions.
Top Brokers With Binary Options Mobile Apps for United States
How Binary Options Apps Work
It wasn’t long ago that the majority of binary options traders used web or desktop-based platforms to purchase contracts and manage accounts. Today though, most online brokers offer free mobile apps to manage binary options trading activity.
The top-rated applications offer much of the functionality found on desktop platforms, with market research tools and straightforward order management. Some brokers, including Pocket Option, have even begun to prioritize mobile platforms over their desktop terminals.
Pocket Option Mobile App
Comparing Binary Options Apps
With a long list of trading applications to choose from, it can be difficult to know where to start. Fortunately, our checklist explains how to compare and rank different options:
Compatibility
Before you download a binary options trading app, make sure it is compatible with your mobile device. If you are an iPhone or iPad user, ensure the app is compatible with iOS and available on the App Store. Equally, if you are an Android user, confirm it supports APK and is available on the Google Play Store.
Fortunately, the top binary options brokers offer free downloads on both devices, as well as Windows compatibility.
Tradeable Assets
What trading markets does the app provide access to? Binary options can be traded on almost any traditional financial market, from stocks and indices to forex, precious metals and soft commodities. Some brands also offer binary contracts on cryptocurrencies. Which of these suits you will come down to personal preference and trading style. Investors interested in key stock markets like the NASDAQ or FTSE may prefer a provider like Nadex, while crypto investors may prefer to download the trading app from Binary Cent. For investors seeking access to a wide range of markets, Videforex is a good option.
Contract Types
Along with a good selection of tradable assets, check which binary options contracts are available. The list could include standard high/low (up/down) options, as well as one-touch, boundary and ladder products. The best binary options apps offer a variety of contract types to suit different strategies.
IQ Option Mobile App
Some apps also offer other instruments beyond binary options. For example, 24Option lets you invest directly in forex, cryptocurrencies, stocks, indices, ETFs and commodities. Importantly, a wider product range gives traders more opportunities to diversify portfolios and pursue hedging strategies.
Payouts
The payout is how much you will receive if your contract finishes ‘in the money’. The reality is that some binary options trading apps offer higher average payouts than others. This can also be difficult to compare, with most apps choosing to advertise their maximum payouts rather than average scores. With that said, top brands typically offer payouts between 60% and 90%, with some products, such as ladder options, offering rates in excess of 100%.
Payments
The best binary options apps make it easy for investors to start trading. And one way they do this is by supporting a range of fast and secure payment methods. This could include local transfer options, plus popular deposit and withdrawal solutions used globally, such as:
- Cryptocurrencies like Bitcoin
- Debit and credit cards
- Bank transfers
- Webmoney
- Neteller
- PayPal
- Skrill
Ideally, deposits and withdrawals should be fee-free on the app’s end, though some payment brands may have their own charges. Payments should also be processed promptly, with instant deposits and withdrawals approved within 24 hours.
Demo Account
A demo account lets you trade using virtual funds so you can see how contracts and strategies perform in real market conditions. If you are a new trader, this can help you get to grips with the fast-paced nature of binary options trading. Demo accounts are not just useful for beginners though – experienced investors can also use them to test out new brokers or trading signals.
Importantly, the top binary options apps offer free paper trading accounts with an unlimited bankroll and no expiry time.
Minimum Deposit
Before you can start trading, most brokers will require a minimum deposit. New traders as well as those who want to bet smaller amounts should try to find trading apps with low minimum deposit requirements. Alpari, for example, has a minimum deposit of just $5.
Alerts
Push notifications and alerts can help you keep on top of the markets and open contracts. They can also provide up to date prices, bonus offers and risk warnings direct to your phone. In addition, a growing number of binary options apps offer social trading features, where users are alerted to potential trades and can replicate positions from their mobile device.
Note, make sure you approve push notifications for the respective app in your device’s settings.
Security
The best binary options apps and brokers are regulated by top-tier authorities from around the world, including the Australian Securities & Investments Commission (ASIC), the UK Financial Conduct Authority (FCA), plus the Cyprus Securities and Exchange Commission (CySEC). This provides an added layer of trust for retail investors.
Traders should also check their data is protected. The top binary options apps support two-factor authentication (2FA) through fingerprint or biometrics. Finally, you don’t want the app to freeze or stop working, so check reviews on the Google Play and Apple App stores to see if there are complaints about reliability and glitches.
Charting & Analysis Tools
Many of the best apps provide a range of charts and technical indicators that can help you analyze the markets and generate signals for potential trades. Interactive charting with scroll and pinch features are useful. Also check how many technical indicators are available and which graph types, for example, candlestick or renko.
IQ Option Mobile App
Bonuses
Some binary options trading apps will incentivise you with various bonuses and promotions. These can help boost your capital when you start trading. Applications such as Race Option, for example, will match your initial deposit up to a maximum amount, while other brands offer a fixed no deposit bonus.
Importantly, some brokers do not offer bonuses due to regulatory restrictions. It is also worth checking terms and conditions because you cannot withdraw bonus capital or associated profits with some promotions.
Customer Support
Before you sign up for a binary options trading app, check opening hours for the customer support team. Binary options can be traded 24/7 in some markets, so ideally the app should offer support on the weekends. Equally, read reviews online to check how helpful customer service agents are and typical response times. Also find out if in-app support is available, for example, through a chatbot.
Benefits of Binary Options Apps
One of the key benefits of investing through a binary options app is that you are no longer limited in terms of where you can trade and when. It doesn’t matter if you are at work, on the train, or on holiday, with a reliable mobile app you can buy binaries on stocks, forex, cryptos and commodities from anywhere. The top mobile apps also allow you to set up push notifications and alerts. This means you don’t have to be active all the time – your app will tell you when there is a potential trade.
In addition, advanced apps come with features that make your life easier. Firstly, they are easy to navigate. The simplicity of a touch screen application can’t be matched by a clunky desktop platform. Many binary options apps also allow you to add widgets to your mobile home screen. These can display prices and monitor specific markets while enabling you to quickly enter the app and buy suitable contracts. This makes the overall trading process smoother versus the traditional desktop-based investing experience.
Drawbacks of Binary Options Apps
Of course, there are also some downsides to trading with binary options apps. Firstly, some account management features may not be available. This can include the ability to transfer funds between trading accounts or update personal details. As such, apps do not always allow you to fully migrate and stop using a desktop or web-based platform.
Analysis may also be more difficult. On some binary options applications, you cannot view multiple charts and indicators or analyse several assets simultaneously. It is also harder to connect and integrate third-party software from your mobile device. This can be particularly frustrating for investors using automated trading strategies and VPSs.
Bottom Line on Binary Options Apps
Binary options apps are perfect for the modern-day trader. They allow users to engage in the fast-paced binary options trading environment while on the move. The best applications offer push notifications, customizable widgets, plus comprehensive account management and payment solutions. Follow our guide to kickstart your binary options trading journey.
FAQ
Are All Binary Options Apps Available On Apple And Android?
While some binary options apps will be available on both Android and iPhone, there will be applications that are only compatible with one. Check the respective app store or the broker’s website before signing up for an account. Note, some binary options trading apps are also available on Windows devices.
How Do I Download A Binary Options App?
It is easy to download a binary options trading app to your mobile device. Head to the Apple App Store for iOS devices and the Google Play Store for Android phones, search for the application and hit download. Following any sign-up process, you will be ready to start trading. You can also head to your broker’s website for download instructions.
Can I Trade On Binary Options Apps 24/7?
Lots of binary options applications support 24/7 trading. Many markets, including cryptocurrencies, are available on weekends as well as weekdays. With that said, opening hours usually follow the timings of respective assets, for example, stock exchanges.
Are Binary Options Apps Safe?
Online trading always brings with it a degree of risk. Binary options products can yield profits but many traders also lose money. To protect your investment, sign up with a reliable brand, follow a sensible risk management plan, and never deposit more than you can afford to lose.
Which Is The Best Binary Options App?
There is no simple answer as to which is the best binary options trading application. There are many good apps that will suit different traders. Think about the markets you would like access to, average payouts, minimum deposit requirements, trading tools, and customer support. See our guide above for more tips.