The biggest difference between binary options brokers, is the trading platform they offer their clients.
There are over 200 binary options brokers in business today, but only 15 trading platforms.
The trading platforms created by SpotOption, Tech Financials, Tradologic, Markets Pulse & TradeSmarter, are used by multiple brokers.
These companies, are software providers to the binary options industry. They provide their trading platforms to both licensed and unlicensed brokers. This is one of the reasons that traders get confused about which broker is legitimate and which broker is a scam. Many brokers look exactly the same, but are actually very different.
If you are looking for a new broker to trade with, make sure you test out at least 3 trading platforms. Not all trading platforms offer the same types of binary options. Some platforms have unique options that will suit your trading style.
Although the year is 2015, and everything is done on mobile devices. When it comes to trading, the financial industry is still back in the 1990’s and all software is built for desktop and multiple screen trading workstations. Check the platforms usability on your mobile devices, and also test out their mobile app. We have received mixed reviews on the various binary options mobile apps.
The Best Trading Platforms
We like the layout of the platform, and the easy ability to switch between assets quickly. We don’t like that we cannot trade directly from the chart which has technical indicators on it.
The most widely used trading platform, SpotOption is a little too user friendly for us. But that is also what makes it is so popular with newbie traders. The most popular brokers that offer this trading platform are: Binary Capital Markets, Finance Yards, AlphaBinary, OxMarkets and Finpari.
Friendly Tip! Find all brokers using the SpotOption platform by doing a quick search on our site, or click here.