» posted on Wednesday, May 23rd, 2012 at 12:18 pm
Review of some leading binary options trading platforms
An expert trader’s review of what you need to know before you pick a platform to trade binary options. Includes analysis of basic offerings, as well as opinion about the site layout, theme and color choices of 20 of the binary options trading platforms. Sorted in alphabetical order.
Update (2014 January 13): ioption was dropped from the list, because they went belly-up in November, 2013. Even though their site is still up, and they still take desposits, there is no one answering phone calls or managing the day-to-day operations of ipotion. Caveat Emptor! AVOID ioption LIKE THE PLAGUE!
24option has a nice interface with a black page for a binary options web site which includes a free easy account opening up button and trading within sixty seconds, making it a very quick and easy way to start trading online. It has live chat and free registration which is easy to do for binary options traders to get started. Trading in binary options is a great and professional way to start trading and web sites such as 24option.com are a good way to start in this way by making it easy for a trader to get into the trading market.
Anyoption has a nice clean interface. It isn’t as friendly as telling you what it’s about other than the big yellow button on the front telling you to TRADE NOW. Unfortunately, the “How to trade binary options?” on the front right below the picture is a little lost on the reader. It’s a shame because it could tell a person what it’s all about if it stood out more in a better (yet more subtle) way. Overall, clean design, but the color blue gradient is a little bit lost on me. I prefer the sleeker 24option so far.
Banc de Binary is a great looking front page site, but it has some problems with visual noise. It appears to offer simple up/down touch/no touch options standard for binary options trading sites. It looks like a real bank site which makes me feel comfortable trading with them, and has live chat as well – always a good sign if you feel you need help or advice or are stuck. An agent can even call you back if you need it. So good site all around and good trading options for binary options traders.
BullOption is an interesting site. It has a nice color scheme with the white, blue, and orange, and claims 81% returns. It appears to offer a very simple choice of above/below for investing on an asset. Digital, touch, range are the options and it appears to be very well designed and quite simple to use. The color and design style is very different from many others and makes it look to be more of a social aspect of the web sort of site, even though it’s a binary options trading site. I’d say it looks decent and youngish whereas the last one looked a bit more for the older crowd.
EZTrader is the classic one of course. Very easy to use from the front page with numbered steps on what to do. It uses the words “Option trader” instead of “Binary options trader” for some reason. It also has support and live chat. It claims 95% of gains from trading and has interesting features on the front page but doesn’t list anything about your options for trading that you can clearly see unless you’re inside. It does have a scrolling explanation but it’s all the way down and doesn’t explain very much.
Global Option is a decent site. It’s the same kind as EZTrader, but with a green motif. It has the same kind of information on the front page and the same kind of claim of 95% returns with over 80 assets. It does have a big friendly green button that says TRADE NOW, but doesn’t talk much about your options either. The live stock information on the front page is a nice way of telling you what’s going on, however. The “how to start” area on the right is too small to be friendly and explanatory in a good and easy way.
IH Options is a bit of a stock looking site. The whole gold theme doesn’t fit very well with the grey gradient. It could look a lot better than it does. They claim from 70-73% payout, which is not bad, but they also post it per call on the front page with lots of fanfare, meaning that you can’t miss it and it probably changes from time to time depending on the market calls. They offer binary options option builder, one touch, 60 seconds as standard trades. One thing that’s nice is that they do offer to talk to a training coach when you sign up.
Nadex has a different looking site than most. It looks very e-commerce and business oriented and has a better overall stock design, but it’s less informative and I don’t like the graphics which they used. Also, the color choices and the bar at the top leaves a lot to be desired. Unfortunately, they don’t talk much about what they offer aside from having a video on the front of the site. It definitely breaks the mold for most binary options trading sites and people wanting to get set up right away may not understand what they offer outright.
Option Bit is an interesting site with an 81% profit return claim. It looks easy enough to use but I think that the design is a little boring overall. They are using too much stock design widgets and it has a little too much clutter, even while trying not to have clutter at all. For binary options you get digital, touch, range. It’s not bad overall and it’s easy to see how to create an account right away, but it doesn’t inform you very much at the onset. I’d say there are better ones out there.
OptionFair is not a bad design. The black with the green works well and the offers of binary options choices are right on the front: high/low, one touch, boundary. They have simple graphics right there that explain it all. They also have a live graph on the front to show you the market trend. The join up area is a bit small and convoluted. I prefer just a big button. But the overall design is nice. They could make the return offer a bit more prominent (85%). Other than that, it’s not a bad site and they do a good job of showing you what it’s about.
OptionsClick is a very good site for binary options trading. It’s not only bright, intuitive and easy on the eyes, it’s great for building up your portfolio. The big “Trade” button in front and center makes it easy to sign up. It has High/Low, One Touch, Range, and 60 Second trading options, and it shows you the ROI you can expect when your investment ends up “in the money” (aka: with a gain). Everything else is pretty clear and the information on screen make it a great gateway for new and experienced traders. They also have a great learning academy full of practical, step-by-step tutorials, which are very clear and informative. Investors who buy and sell assets on OptionsClick have reported some minor visual/word clutter on the front page at times, however, their famed Customer Service are preferred by online traders for a reason … they are second to none.
Options House is a nicely designed site overall with the logo and white background as well as the green choice over the white. Unfortunately, that’s all you can tell from the front because they don’t tell you much of anything else without having to read into it. IT doesn’t show you the payout expected on trades, it doesn’t really explain what it’s about, and it just has an award from Barrons front and center – which is nice, but not very informative. I like the design that went into it, but the information content really isn’t that great at all. It also doesn’t show you what binary options trading system choices it has.
Option Rally isn’t that bad. It’s a clean design and the color choices are nice, but their choice of a flash info graphic at the front and center forces you to wait for the information you need about the site, which isn’t a good idea. The pictures are good, the chat box is nice, the overall design is very well done, but it really relies too much on flash technology instead of HTML5 which is the better way to go. Also, making people wait for information isn’t good idea on a binary options site.
OptionXP was a good site that has been dropping like a stone in my opinion. The clean design is a little bit boilerplate. Other than that, it’s clear about your profit expectancy: 81% and with Digital, Touch, and Boundary binary options right on the front with graphics to show you what it means in a simple way. So the ROI isn’t that great compared to others like OptionsClick or any options platforms. A live graph is somewhat informative and a big “Open Account” button for free right on the front is a good way to let people know how to work it all out. All in all, other than the stock colors, this was one of the best sites I had seen for binary options trading presentations … back in 2012 and early 2013. Now, sadly, it’s an also-ran and my opinion is it’s a has-been platform, not quite up to today’s standards. Here’s hoping they’ll get their act together again in 2014, because they were rather good once upon a time.
Startoptions is yet another total FAIL of a website design and utility concept. Too many stock images and poor color choices. The greens are flat against the white and don’t really pop, making the whole site look amateurish. While their binary options are decently ok and to be expected, they really don’t do a good job of summarizing what it’s all about in an easy to understand way. For a new binary options trader, AVOID THIS SITE. Honestly, there are so many better ones out there that are worth your time, effort, and money.
Trade Quicker is another good one. Unfortunately, the color choices aren’t good. The widgets are decent though, but the flashy flash graphic isn’t very attractive. Though it easily tells you what you need to know right away: 88% payout, Trade Now button, live graphic, and Option Builder, One Touch, 60 Seconds, and Pro Platform. Overall, you get what you need right away but they need a better design and/or designer. Also, their logo is terrible. But information wise, it’s very well done.
Traderush is another better site overall than many others. The color choices are better than Trade Quicker, and they are on the same information level as the same site. 81% return, binary options Option Builder, Option Pro, One Touch and 60 seconds. Live graphs tell you what is going on and a can’t miss “Start Trading” button is right there. The graphics of oil and gold are a good indicator of what it’s all about, but the right side of the screen is a bit of a visual mess when compared to other same style designs. Also, I’m still not sure about the orange with the blue in the logo. There’s too much contrast.
Tradesmarter is not a very good site overall. They have poor choices in colors and styles, and their trade options are limited. As I said before, I’m not a fan of putting out forms to fill out on the front page. I know that expedites making an account, but it’s easier to do that inside a second page. Best to keep the design clean and efficient with a simple button, and then make a small form inside with a very minimalist design. Too much word clutter can break a site, even if the design intent is a good one. I’d say stay away from this site and choose another one. There are better binary options sites out there for traders.
TraderXP is a mess. I’m not sure if it’s a trader site or a Microsoft XP sort of business site when I first come in. The logo isn’t that great at all, which is a shame, but then again neither is the name. They do show binary options for Option Builder, One Touch, 60 Seconds and a live graph with a front page flash graphic. They also show a big Open Account button which is impossible to miss. But it’s a disaster in terms of making everything work. The top menu is terrible as are the grey color choices with the greens that just don’t work.
Winoptions is not bad, and looks dynamic even though it’s a black theme. The yellow on black with white works and is very strong. The payouts are clearly marked with the live graphs and are hard to miss – as is the “Open your free account now” button. Binary options include options builder, one touch, and 60 seconds. The whole site option is clear and very well designed and definitely one of the best sites I’ve seen overall. I would say that it’s a good way to start checking out binary options as a trader right away.
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