Pocket Option Gems
This article would provide you with information on the best trading broker options in the United States, their pros & cons and also how they stand out from the other trading options.
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- Tobi Opeyemi Amure Author
- 16 min read -->
- Published: October 18, 2023
- Views: 333
- The Trusted Binary Broker Options in the United States
- Best Trading Broker Options in the US Reviewed
- How To Select Binary Brokers Options in the US
- Types of Binary Trading Options in the US
- Frequently Asked Questions
- Conclusion
- The Trusted Binary Broker Options in the United States
- Best Trading Broker Options in the US Reviewed
- How To Select Binary Brokers Options in the US
- Types of Binary Trading Options in the US
- Frequently Asked Questions
- Conclusion
The options CBOE introduced was modelled after the European-style binary options, this style was available to other parts of the world prior to its use in the United States . Soon after, other brokers and exchangers began to introduce binary trading options in the United States. Then it became a popular investment scheme.
In July 2013, the Securities and Exchange Commission(SEC) issued an investor alert on the risks associated with binary option trading but it wasn’t until 2017 that the regulatory bodies in the United States, (SEC) proposed rules to regulate the market.
The warning in 2013 in summary centralized on the high risks of the investment (binary option). It was noted that trading options was marketed as a get-rich-quick scheme but that wasn’t the case. The purpose was to give access to correct information to investors who decided to thread the trading path to avoid potential fraudsters.
Discover top binary options brokers tailored to your region. Browse our curated lists by country:
Introduction Pocket Option Gems
- CBOE – The United States Largest Options Exchange.
- Cantor Futures Exchange – Best Binary Options Broker in the USA for Charting
- NADEX – Best Binary Option Trading Platform
- BinaryCent – Leading Binary Options Broker in the United States of America
These options are in no specific order.
| Available in English | United States Dollar Support | Mobile Apps available in the United States | |
| CBOE | ✅ | ✅ | ✅ |
| Cantor Exchange | ✅ | ✅ | ✅ |
| NADEX | ✅ | ✅ | ❌ |
| BinaryCents | ✅ | ✅ | ✅ |
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Best Trading Broker Options in the US Reviewed
- CBOE (Chicago Boards Options Exchange)–The World’s Largest Options Exchange.
| Overall Rating | 4.8/5 |
| Payout | Up to 100% |
| Minimum Deposit | $500 |
| Maximum Deposit | $50,000 |
| Payment Methods | Wire transfer |
| Lot Size | Lot size for S&P 500 is 5 contracts |
| Assets | S&P 500 Index, volatility index |
| Supported Currencies | USD and EUR |
| Customer Support Service | Via email and phone |
Chicago Board Options Exchange is the largest in the US and one of the oldest in the world. The company was founded in 1973 as the first regulated options market in the US and is headquartered in Chicago. The company is regulated by the U.S Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Although the company was founded in 1973, it did not offer any binary options until 2008. In 2008, the Chicago Boards Options Exchange introduced binary options on the SPX Index. Prior to the introduction of CBOE in the US, there were no regulated platforms for trading options.
Their binary options are different from binary options offered by offshore brokers as theirs is exchange-traded, which implies that theirs is traded on exchange and not with a broker directly.
Sign-Up and Verification Process
- Apply for a CBOE account through a registered broker.
- After your application has been approved, you will create an account on CBOE’s website, www.cboe.com
- Provide your personal information (name, email address, and phone number)
- Verify your identity and provide a copy of your ID
- Provide your proof of income or net worth
- Make deposit and begin trading.
Trading Platform
CBOE’s binary options are traded through various option brokers. Each broker charges its own commission. The company was established to provide an efficient and standardized marketplace for trading of options, which was new at the time. Although CBOE might have been the oldest, they have high fees and offer limited hours of operation.
While that might have been a disadvantage, they have a wide range of products and high liquidity. Their products include index options, equity options, and foreign exchange options.
Mobile Apps
- Android: Available ✅
- iOS: Available ✅
The mobile app for CBOE is called CBOE mobile. The mobile app has a custom watchlist feature that allows users to track the securities they are interested in. The mobile app can be downloaded from Apple’s App Store and Google Play store in the United States.
| Overall Rating | 4.8/5 |
| Payout | Up to 80% |
| Minimum Deposit | $250 |
| Maximum Deposit | $50,000 |
| Payment Methods | Credit/debit card, wire transfer and e-wallet |
| Lot Size | 0.01 to 1.0 |
| Assets | Forex, indices, commodities, stocks and cryptocurrencies |
| Supported Currencies | USD, EUR, GBP, JPY and CHF |
| Customer Support Service | Via live chat, email and phone support |
Cantor Futures Exchange operates under the regulatory body of the U.S. Commodity Futures Trading Commission (CFTC). The company was established in 2010 and it has its headquarters in New York City. They provide a wide range of trading options through their three distinct brands: Cantor Exchange, CX Future Exchange, and CX Markets.
Within the CX Markets platform, traders have the chance to engage in binary options trading for both forex and gold. Binary options provide a predetermined payout for successful trades that conclude “in the money,” and they also limit losses to the initial wager on trades that end up being unsuccessful.
Cantor Exchange offers binary trading options on six currency pairs.
Sign-up and Verification Process
- Create an account on their website, trading.cxmarkets.com
- Input your username and password
- Agree to terms and conditions
- Verify your identity by inputting your contact information (first name, last name, phone number, address line, City, state and ZIP code)
- Enter your SSN(Social Security number) and date of birth
- After verification, start trading.
Trading Platform
Cantor Exchange, through its mobile app, CX Market, allows trading in binary options for forex and gold, with flexible entry points even up to 30 seconds before contract expiry, depending on liquidity. This makes it noteworthy for binary options signals and software compatibility.
They also provide a fully electronic trading platform with features such as real-time quotes, advanced order types and market data. CX Markets offers educational resources in various formats, including videos, tutorials, and user guides.
Mobile Apps
- Android: Available ✅
- iOS: Available ✅
The mobile app for Cantor Exchange is CX Markets, and it is designed to make users trade on the Cantor Exchange Market. The mobile app is available for both iOS and Android in the United States.
- NADEX (North American Derivatives Exchange)–The first legal U.S. exchange focused on Binary Options.
| Overall Rating | 4.9/5 |
| Payout | 85% of contract price |
| Minimum Deposit | $250 |
| Maximum Deposit | $10,000 |
| Payment Methods | ACH and wire transfer |
| Lot Size | $1 |
| Assets | Money, gold, oil, bitcoin, commodities, stock, stock indices, economic data release, cryptocurrencies |
| Supported Currencies | USD, EUR, GBP |
| Customer Support Service | Via live chat, phone and email |
Established in 2009 and launched its trading platform in 2010. Like most trading options, Its goal was to create a regulated means for trading binary options in the US. It’s regulated by the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Their products are available to institutional and retail investors. Just like CBOE, they are also exchange-traded, which gives them more transparency and liquidity compared to companies that offer trading options by offshore brokers.
Sign-Up and Verification Process
- Apply for a NADEX account through a registered broker
- After approval of the application, create an account on the NADEX website, www.nadex.com
- Provide your personal information
- Verify your identity
- Take a trading examination to test your trading knowledge
- Make a deposit and start trading
Trading Platform
The company has a user-friendly platform that is easy to navigate and also a variety of charting and analysis tools. NADEX offers two types of binary options: Turbo and Touch Bracket. Touch bracket options have long expiry time while turbo options have shorter expiry times.
Underlying assets in NADEX is limited but it covers all the major assets, which includes commodities, indices, forex, stocks etc. They offer a lot of educational materials for traders to learn about how to use the platform and how to trade binaries.
The learning center on their website has articles, videos and resources regarding risk management, trading strategies and the basics of binary options. They also have a blog on their website where they provide updates on the latest developments of trading options.
Mobile Apps
- Android: Not Available ❌
- iOS: Not Available ❌
While NADEX might not have a mobile app, they have a progressive web app for trading on your mobile devices. The web app is compatible on Android and iOS devices.
How to Use NadexGo WebApp
- Visit mobile.nadex.com from your mobile device
- Log into your live or demo account
- Begin to trade
You can however add the web app to your home screen for convenience just like any other app.
- BinaryCent – Leading Binary Options Broker in the United State of America.
| Overall Rating | 3.6/5 |
| Payout | 95%+ |
| Minimum Deposit | $259 |
| Maximum Deposit | $10,000 |
| Payment Methods | Bank transfers, Credit and Debit Cards, e-wallets, Bitcoin |
| Lot Size | $1 |
| Assets | 100+ cryptocurrencies, commodities, stocks, and currency pairs |
| Supported Currencies | USD, EUR, JPY, GBP, CAD, AUD |
| Customer Support Service | Via Live Chat, email and phone |
BinaryCent came into existence in 2015 and its main focus is for users trading binary options. BinaryCent has a demo account where you can learn how to trade without real money. It operates on 15+ currencies. The company is registered in the Marshall Islands and regulated by the Vanuatu Financial Services Commission (VFSC).
Sign-Up and Verification Process.
- Click on the sign-up button
- Input your personal information (name, surname, email address )
- Set a password
- After filling in the information, agree to the terms and conditions
Trading Platform
BinaryCent operates on a proprietary trading platform, this means that they carry out transactions using their capital instead of trading on behalf of their clients. Binary trading and copy trading on the platforms for beginners are also available for traders who are just learning how to trade.
Mobile App
- Android: Available ✅
- iOS: Available ✅
The mobile app can be gotten from Google Play Store and Apple’s App Store in the United States. All the features available on the web-based platform are visible on the mobile app. The mobile app is also user-friendly and it makes trading easier.
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How To Select Binary Brokers Options in the US
When things exist in excess, it is normal to be lost in the crowd and not know what to go for. Every day in the online trading market, new binary options evolve. As the market evolves, it makes it harder to choose the right binary broker. Here are some steps on how to select binary broker option in the ever-evolving market:
- Capitalization and Regulations: In the world of binary trading, it’s important to select a company that is regulated by able bodies in the financial and security industry. If you go for an unregulated one because of their massive payout, you may be in the position of getting scammed. Regulatory bodies like CySEC, IFMRRC. Regulated binary brokers are trustworthy and it’s easier to lodge complaints when the need arises.
- Payouts Percentage: The return after the period of trade is known as the payout percentage . It necessarily doesn’t mean that a broker that offers a 90% payout is better than the one that offers 75% payout return. The broker determines the payout depending on the type of trading instruments used.
- Assets: The types of trading assets are unique to different trading platforms. The binary trading options are based on varying assets including commodities, indices, cryptocurrencies etc. As a trader, you need to be sure of the kind of assets you want to trade to determine the platform that suits you.
- Customer Support Service: To make the platform stand the test of time, customer support services are very important when choosing binary broker options. As a beginner, you need customer service in case of any eventualities when using their platform.
- Conditions for Deposit and Withdrawal: Verify the terms and conditions of a binary trading option whilst signing up. The deposits and withdrawal of each binary broking option differ, you need to sign up to a binary broker option that goes in accordance with the laws of the country you are trading from.
- Demo Account: A demo account is used to gain experience before going into the real market. It is important to choose a binary broker option that has lifetime access to a demo account, you get to trade with virtual funds and there is no risk.
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Types of Binary Trading Options in the US
- High/Low Option: This type of binary option is used to predict whether the price of the underlying asset will be higher or lower than the strike price when the option expires.
- Touch/no touch Option: Thisbis is to predict whether the price of the underlying assets would reach a certain level before the option expires.
- Double one-touch Option: From its name, it allows traders to make two predictions about the price of the underlying assets. The target price is usually one above and one below the current price of the assets. If either of the predictions is right, the trader receives a payout.
- Range Option: For this option type, you also choose two predictions and receive a payout if the price stays within the range of your prediction before the option expires.
Pros and Cons of Binary Trading Options in the US
Pros
- High Returns on Investment: If an investor’s predictions end up as the right option, they get a massive return on investment. Although it might be risky, binary option trading is a good way to make money.
- Accessibility: Binary trading options give those who are less experienced in financial trading to gain access and improve their efficiency.
- Flexibility: Binary options give a trader access to try out new things in the market and see how they benefit the trader. The features in trading such as market charts, quotes, and expiration dates also allows the trader to make trading decisions quickly and adjust their positions if need be.
- Availability of Wide Range of Financial Assets: The range of assets available for trading also influences the trading behavior of an investor. Traders get access to trade different assets such as indices, commodities etc.
Cons
- High Risk of Losing: just like there’s a huge reward when an investor is right, there is also a high risk when their predictions are wrong.
- Potential for scams: some offers are too big to refuse and most times they end up as bait to scam investorʼs of their money. That’s why most countries have regulatory bodies to prevent these scams.
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Frequently Asked Questions
What is a Binary Option?
A binary option is an investment that rewards you for winning and you are at risk if you lose. It’s a two-way thing there is no in between, hence the word binary. In this type of investment, if you are right about the flow of the market, you get a payout but if you are wrong you lose your investment and there’s no payout.
What draws investors or traders to invest in binary options is because of its high returns but with high returns comes great risk for the one who loses.
Is Binary Option Trading Legal in the US?
Yes, binary trading options are legal in the US provided that they are regulated. Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) regulate binary options trading in the US.
What are the benefits of binary options trading for US citizens?
The risk associated with trading binary options for US traders is limited, especially depending on the broker you use. You are aware of how much money you stand to lose or gain. Also, for the fact that there are only two outcomes you know what to expect.
How much can I make as a Binary Options trader in the United States?
There isn’t a cap to how much you can make. Usually, this depends on your trading strategy and how profitable it is for you. You should account for tax, however, since your profit is taxable.
What is the difference between binary options and traditional options?
For binary options, you are betting on whether the price of the assets falls or rises while for traditional options, you are betting on the price of the assets.
What is a binary option spread?
Binary options spread is when you are betting on the difference between the bid and ask price of an asset.
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Conclusion
Getting binary trading brokers options to trade in the United States might be a tiresome thing to do. That’s why this guide has selected binary trading options that are regulated in the United States of America to ease trading.
If you are in the United States and you aren’t sure of where to trade, consider checking out the list of reviewed binary broker trading options in this guide.
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