Binary Options is the process where you purchase a buy/sell option for a specific security for a specific price on a specific date in the future. Money can be made for the investor depending on the value of the security by the time the date arrives.
Every broker has its own Binary Options platforms with its own individual pros and cons and after a lot of research, we have made a list of our top binary options trading platforms.
#5 Ally Invest
We would like to start off this list with a low-cost but high-quality broker called Ally Invest, where while it has other great services, is fully geared towards being a binary options platforms. Ally Invest, just like its partner company Ally Bank, it offers a simple and effective, low-fee lineup.
Ally Invest can be highly recommended for novice. Its binary options platforms is extremely efficient, offering its users valuable analysis tools to better optimize and streamline your trades.
#4 Charles Schwab
Speaking of first-time, user-friendly brokerages, Charles Schwab hits it high on the mark and offers its users an optimal experience with excellent customer service. Trades can go as low as $.95 each with $0.65 cents as per contract. However, if you are new clients to Charles Schwab’s binary options platforms and have made an initial deposit of $100,000 or more, you are gifted with around 500 commission-free trades within the span of 2 years.
With its humble origins of beginning as a software company with a little bit of trading influence, the company has grown into a fledgling platform, staying loyal to its principles. The TradeStation binary options platforms boasts professional information collection and high-speed executions to boot.
TradeStation, however, is mostly recommended if you have already done a lot of time investing in binary options platforms. TradeStation charges $5 per trade plus $0.50 cents per contract.
Robinhood has gained its popularity and earned it as the first web-based binary options platform of its kind while being the best broker for commission-free trades. It offers above-average service on its platforms and is a cost-effective way for novice traders to get started without parting with a lot of starting capital. Robinhood has commission-free stock trades, ETFs, and even cryptocurrency if you are interested.
#1 TD Ameritrade
TD Ameritrade, the last but not the least, takes the best in overall status in the best binary options platforms as it holds an amalgamation of moderate fees, great educational resources, and an extremely effective, cutting edge platform that works well for traders of all experience. In TD Ameritrade’s binary options trading platforms, trades can go for $6.95 per trade plus $0.75 cents per contract and no account minimum.