Binary options are incredibly profitable trading instruments, but they are known to be pretty risky, too: you need considerable experience and skill to make profits with them. But what if you want to check them out anyway? Well, then you should definitely start small and avoid investing large sums at once, and that means you need a broker that doesn’t have serious deposit limits. In this article, we explain the basics of binary options trading and give you several reliable brokers with low deposit limits.
About binary options
Binary options are high-risk derivatives that allow you to earn by predicting trends for various assets, and there are only two outcomes: you either win or lose, that’s why they’re called binary. All you have to do is guess whether the price of a certain asset will be lower or higher than a specified level. If you are right, you get a bonus that can be pretty high: some traders earn 70% or even 80% on their binary options trades. However, if you are wrong, you lose your stake altogether.
Such options have grown very popular recently, but you definitely shouldn’t bet everything you have in hopes of making a fortune. Instead, you should gradually learn how to use this instrument and invest only the smallest sums possible. And that’s why the binary options minimum deposit of your broker is very important. To help you find a nice broker, we’ve compiled a list of three good platforms that allow you to trade binary options without serious investments.
Pocket Option is a novice-friendly broker with several unique features. First of all, it allows you to use binary options among other trading instruments. The broker also has a social trading service that can be used to earn passive income. And the minimum deposit is just $5. However, you need to pass the ID verification process to access the platform.
IQ Options is another convenient trading platform with binary options and many other tools, including a variety of CFDs on different assets. The minimum deposit here is $10, but prepare to wait for your withdrawals for several days: they are pretty slow.
Quotex is a relatively well-known broker focused on binary options trading. You can start trading with just $10 here, but the broker also offers you a free demo account with $10,000 for practice, so there’s no need to invest anything at all to learn the basics.