The Binary Optioner is associated with Regulated Binary Brokers only

Corporate name & legal office
LicenseMinimum trade
Minimum depositOpen Account Link

regulated binary broker

IQ Option Europe Ltd, CyprusCySEC License Number 247/14$ € £ 1$ € £ 10open account binary options
binary options broker etx capitalMonecorFinancial Conduct Authority (FCA) - License Number  124721$ € 15
$ € £ 250open account binary options



How should you pick the binary broker?


Based on the assets portfolio on binary options?

Of course, the higher the number the bigger your choice and the better for you.


Based on the return of the binary options offered by the broker?

Of course, getting 85% is better than 70% when you are in-the-money, and getting back 10% is better than losing 100% when you are out-of-the-money.


Based on bonuses?

Maybe, but you MUST know EXACTLY what a bonus legally means for your account and your money.

Bonuses might be in terms of

  • an additional amount of money that the broker offers to the first time depositor, or even later associated with another deposit in order to retain unsatisfied traders, which can be used only for trading purposes and can not be withdrawn until a specified turnover of trades has been performed;
  • free trades, meaning that the losses incurred in these trades are reimbursed by the broker, providing a loss protection for forex binary option trading.

Based on services like trading signals or real time charting applications?

There are binary option brokers that provide signals and trading charts, and this could be a service quite appreciated by the trader, but should not be deemed the main reason for choosing a given broker.

Based on the kinds of binary options?

Also, for the same reason: more choice means better choice (maybe).

I only tell you a couple of important things about this point.


“One Touch” options

Do you ask yourself why they are only “Touch” but not “No Touch”? Why do you think the returns are so high but only if the assets touches the target price? Maybe because statistically the probability of “touching” is so low? Probably this is the reason. Our suggestion is not to trade One Touch binary options, because they are too biased in favor of the broker. In other words, only if the broker offers both the “Touch” and the “No Touch” version, on the same asset and for the same expiry, is the algorithm of the platform fair, in order to “protect” the broker profitability, and only in this case are the upper and lower target prices statistically balanced; if instead the broker offers only the “Touch” version (called “One Touch”), then there is a high probability that the platform has set the target prices (upper or lower) significantly far away from the market price (but not too far away in order not to deter investors), making statistically very difficult for the trader to be in-the-money. The extremely high return (300-400-500% !) is just a way to attract trades in transactions that will hardly expire in-the-money.


Past closing prices

The second word concerns whether or not the broker has a page in its website reporting the prices of the previous expiry times. If that is the case, the trader can compare the broker closing prices with the prices of the most important data providers (Thomson Reuters, Bloomberg, just to give two examples). All the serious brokers should have this service as a way to be fully transparent.


Let’s continue now with the way you should pick the broker.


Based on where the broker is legally located?

This is for sure an important factor: even if the binary industry is getting regulated just recently after the ruling of the CySEC (May 2012), the majority of the brokers are still incorporated in fiscal paradise, and knowing which jurisdiction will be in case the one settling a dispute with the broker might be relevant for you.


Based on the Terms & Conditions of the Brokers?



Based on whether the broker is regulated or not ?



Click here to read our post on the benefits of choosing a fully regulated binary options broker



In few words, you shall pick the broker mainly among those who are regulated and after having read the Terms & Conditions in full.



How to read the binary broker Terms & Conditions"




This is one of the most important points, and at the same time one of the least looked at.


We will see that the most delicate points in the Terms & Conditions are related to the withdrawal process (quick or slow? fees? conditions limiting or even prohibiting the withdraw?) and to strange clauses forcing the customer to trade a minimum amount of money before having the possibility to get back his money, or even part of it, even in the absence of a bonus.


For these reasons you MUST read the Terms & Conditions, or get the help of professional website like in order to be sure that the T&C are ok.


What do you have to read in particular? Let’s look at some Terms & Conditions in order to understand in practical terms.


In order to speed up and simplify the analysis, copy and paste the Terms in MS Word, and look for the keywords “withdraw” and “bonus”, and you will find the most delicate and important sections for you.


But first let's look at how to undertand the location of the legal office and the competent jusrisdiction.


Broker’s legal head office


If you want to know where the legal office of the broker is located, not always the address indicated in the “contacts” section is the legal address, because for marketing purposes the address mentioned could be the one of the call center or, even more frequently, only the phone numbers, email addresses, IM and online chat tools are shown.

In order to know without doubt the legal jurisdiction of the broker (and of the disputes arising between the broker and the customers), you have to look in the Terms & Conditions, and see if within the first clauses the corporate name and the address of the broker are published; if in the Terms & Conditions this information is not given, then it is necessary to look at the end of Terms & Conditions and find at least the legal jurisdiction competent in case of legal disputes arising between the broker and the customers: you won’t know the precise address but at least the country where the broker is located.


Here are a couple of examples.


In the first, the Terms & Conditions of the broker indicate precisely corporate name (that we have hidden) and legal address.

“1. This Agreement is entered into by [broker name] registered under the laws of _The British Virgin Islands having its registered office at [broker’s address] (hereinafter referred to as: the “Company”) and yourself (hereinafter referred to as: “you” or “Customer”) (In this Agreement the Company and you may be referred to collectively as the: “Parties”).”


In the second, only the jurisdiction competent for legal disputes is indicated (Cyprus), which means that the broker is legally located in Cyprus.


12 Law and Jurisdiction


The laws of the state of Cyprus shall govern the use of the Site and all its consequences including the Terms of Use. The competent court in Larnaca, Cyprus shall have sole jurisdiction over any matter involving use of the Site."


Now let's proceed with the two most delicate point of the Terms & Conditions: the withdrawal process and the restrictions attached to the bonus.


Withdrawal process


With “withdraw” you will get also “withdrawal”, “withdrawing” etc. In these sections you will find the conditions of the withdrawal procedure: documents to be submitted, data verification process by the broker for security purposes, number of days the broker reserves for the whole process, the ways and the fees of the money transfer from the broker to the credit card or the bank account of the trader. It is important to know that the data and personal documents controls are necessary for the anti-laundering laws, and that for the same reasons the broker will transfer to the credit card, from which the first deposit originated, an amount not higher that the deposits and will transfer the excess amount to the bank account of the trader. All this means that the broker must accurately control the trader identity and the bank account to be credited. Usually, from these sections you can see brokers who want a fair number of days to perform the security controls and brokers who take advantage of the need to control the data and require up to 15 to 20 days before transferring the money. Also the withdrawal fees differ a lot among brokers, and also this must be taken into consideration in selecting the broker.




The sections concerning the “bonus” keyword are even more important, because they list the conditions and the contractual limits binding the customers when they accept the bonuses.



Let’s look directly at the following examples of Terms & Conditions.


Case 1



8.2 Unless stated otherwise in the terms of the offer, a precondition for making withdrawals after using the bonus/benefit is to buy options of 15 times the amount of the bonus/benefit.


8.4 The bonuses/benefits must be used within the period defined in the details of the special offer. Should the bonus/benefit fail to be used within this time frame, the bonus/benefit will be withdrawn from the client’s account.

8.5 Once receiving the bonuses/benefits, the client has 3 (three) calendar months to complete the total amount of investments required as a precondition for withdrawal. If the required total amount of investments is not reached during this time period, the company will withdraw the bonuses/benefits funds from the client’s account according to its discretion.”


Under these conditions, in the presence of a bonus, if the value of the transactions do not reach 15 times the value of the bonus within 3 calendar month, only the bonus value is at risk and can be canceled by the broker from the account, but the investor is free to withdraw the available money on the account; clearly he will not be able to withdraw the value of the bonus, or part of it.



Case 2

Special Offers, Benefits & Bonuses



Special Offers, Trade Refunds, Benefits and Bonuses

Please read carefully before accepting a special offer, trade refund, benefit, or bonus.


2. Unless stated otherwise in writing from [broker name] and only [broker name], the terms of the offer, a precondition for making withdrawals after using the bonus/benefit is to buy options of 20 times the amount of the bonus/benefit plus the deposit amount. Example: (deposit + bonus x 20 = required turnover for withdrawal)


4. The bonuses/benefits must be used within the period defined in the details of the special offer. Should the bonus/benefit fail to be used within this time frame, the bonus/benefit will be withdrawn from the client’s account.

5. ……..

By accepting a bonus into your account, you are agreeing to the terms and conditions above. NOTE: If the required turnover is not met when making a withdrawal request – the withdrawal request will be automatically canceled. NOTE: [Broker name] DOES NOT RECOMMEND TAKING A BONUS UNLESS YOU KNOW HOW MAKE IT WORK IN YOUR ADVANTAGE AS LEVERAGE. BY ACCEPTING A BONUS YOU ARE AGREEING TO THE ABOVE TERMS.


Dormant Accounts Procedure

1. [broker name] client accounts in which there have been no transactions (trading / withdrawals / deposits), for a set period of 12 months, will be considered by [broker name] as being dormant accounts. 2. Dormant accounts will be charged an annual maintenance fee of US$25 or the full amount of the free balance in the account if the free balance is less than US$25. There will be no charge if the free balance is zero. Consequently, all accounts with a zero free balance will be closed.



Before making a withdrawal in the presence of a bonus, there must be a number of trades for a value of 20 times the value of the bonus plus the deposit, which means:

Required transactions value = (deposit) + (bonus x 20).

The broker can also set deadline within which these transactions must be performed, otherwise the bonus can be canceled.


There is no limitation in the absence of a bonus: this might be an obvious assertion but there are certain brokers which impose a minimum value of trades also with no bonus given to the trader before the he/she can withdraw, even partially, his/her money (case 7).

The accounts inactive for 12 months are charged $25 or, if the balance is less than $25, an amount equal to the balance, therefore in this last case set to zero and then canceled.



Case 3

Bonus conditions:


Bonuses are only available for withdrawal after trading X times the volume of the bonus value.

For example if a bonus of 100$ is granted, the trader must complete a total trading volume of x times 100$ before the bonus is available for withdrawal (subject to account balance).


In the event that the entire or part of the deposit on which the bonus is given is withdrawn before X times the bonus has been traded, then the following shall apply:

1. The bonus shall be canceled.

2. In the case of trading losses, all the trading losses will be deducted from the original deposit and the remaining balance may be withdrawn.

3. In the case of profits, the trading profits shall be canceled and the original deposit may be withdrawn.”


If the trader receives a bonus, the minimum turnover in transactions required is equal to “X” times the value of the bonus before the investor is able to make any kind of withdrawal from his account, even out of the original deposit. The multiplier is not specified in the general Terms & Conditions, but it is set for each specific bonus. If the trader would like to withdraw even partially from the account after having received the bonus and before reaching the minimum required value of transactions, the bonus is canceled together with the profits generated while the bonus present on the account; the losses instead remain and charged to the account and the trader can only withdraw the original deposit less the losses incurred; in the best scenario then, the trader will withdraw no more than the original deposit.


We strongly suggest that before accepting a bonus you must know precisely the Terms of the same bonus.


Case 4

11. Withdrawal Procedure


For bank wire transfers, [broker name] covers the withdrawal fee for the first withdrawal of a given month, any subsequent withdrawal using bank transfer will accompany a processing fee of $30, which covers the transfer fee.


Once a withdrawal request has been submitted, it can take [broker name] up to 3 business days to process the request. Once the request has been approved please allow an additional 5-7 days for the funds to show in your account.



12. Investment Reward and Bonus Policy

…….. Unless stated otherwise on specific promotions the default promotional terms apply to all bonuses as shown below:

Withdrawal of funds which have received additional rewards, bonuses, or promotions, require a trading volume fulfillment of 30 times the bonus or in the even of a refund bonus 20 times the bonus amount. The trade volume requirement begins upon receipt of the bonus in the traders account. Upon receipt of the bonus, the trading requirement must be fulfilled prior to withdrawing funds from the account……”



Apart from some redundant concepts, also in this case without any bonus there are no limitations to withdraw.



Case 5

18.4. Withdrawal instructions.

The maximum bonus amount is 4.000 EUR/USD/GBP

  1. …….

  2. Bonuses are only available for withdrawal after a trading volume of 20 times the bonus value has been met. For example if a bonus of $50 is received, a total trading volume of $1000 must be made by the trader before the bonus can be withdrawn.

  3. In case you decide to use the early closure feature, only 50% of the amount you invested on an option will be counted in the trading volume.

  4. ……….

  5. ……….

  6. Should the entire or part of the deposit on which the bonus is given be withdrawn prior to the 20 times the bonus volume has been traded then the following shall happen:

  • The Bonus shall be cancelled

  • All the trading losses will come from the original deposit and the remaining balance may be withdrawn.

  • The trading profits may be cancelled and the original deposit will be available for withdrawal. ”



The bonuses are available for withdrawal after transactions worth 20 times the value of the bonus. For example, if you receive a bonus of 50$, it is necessary to perform as many trades for a value of 1.000$ before the bonus can be withdrawn.

In case of withdraw, even partial, from the account on which the bonus has been credited before the 20x condition is satisfied, then:


  • The bonus is canceled;

  • All the trading losses will come from the original deposit and the remaining balance may be withdrawn.

  • The trading profits may be cancelled and the original deposit will be available for withdrawal. ”



Like it happens with other brokers, if you want to withdraw before making the minimum turnover required by the bonus’ conditions, you will be able to withdraw the amount deposited less the losses incurred. Not only the bonus but also the profits generated while the bonus is credited on the account will be cancelled.


Case 6

Special Offers and Bonuses

Benefits and Bonuses may be offered by the Company from time to time, and shall be credited to the client’s account subject to the terms of the offer made to the client, e.g. making minimum deposits and/or executing certain trade volume within a specified time period.
Unless mentioned otherwise in the terms of the offer, if the client wishes to make a withdrawal after receiving the bonus, he/she can do so only after executing a trade volume (aggregated sum of investments) 20 times the amount of the bonus/benefit AND at least 20 trades. ”


In brief, unless the conditions of bonus state otherwise, if a customer want to withdraw he has to generate trading turnover for a value of 20 times the bonus and 20 operations.


In the absence of the bonus there are no limitations to withdraw.


Now let's proceed with some examples of Terms & Conditions to REFUSE



Case 7

7. Specific Conditions of Use

Withdrawals: …… § 30 active trading days are necessary in order to ask for a withdrawal.§15 times the trading volume is required in order to make a withdrawal and also withdraw the Bonus § Processing the withdrawal request takes a period of 3 to 5 business. if the conditions are fulfilled and the request is approved, the sum will be paid within a period of 7 to 10 working days. § You will be charged a penalty fee of 45€ for any withdrawal of sums less than or equal to 300 Euros. § A fee of 15% will be charged for all withdrawals above 300 Euros.§ [broker’s name] authorizes withdrawals up to a maximum value of 5000 USD or Euros per month. In the event that a trader wishes to withdraw earnings of a value greater than 5000 USD or Euros, they will be forced to spread out the withdrawal over several months.



…….. There is never any obligation to accept these bonuses. ……..”


Three are the constraints quite burdensome:

  • the need to carry out trading activities for 30 days before you can withdraw,

  • the obligation to make operations for a value of 15 times the initial deposit regardless of the presence of the bonus,

  • the excessive fee of 15% of the value of the withdrawal, with a minimum fee of €45.

It does not matter that much if within the bonus section the broker underlines that there is no obligation to accept the bonus: the constraint of the minimum turnover in binary operations is valid even without the bonus.

And incredible is also the condition for those willing to withdraw more than €/$ 5.000; apart from the fact that the wording of the article seems to refer only to withdrawals of profits, therefore excluding the case of withdrawals of funds deposited, limiting the withdrawal to $5,000 and divide the surplus in withdrawals to be made in "several months" without even indicating how many months of delay seems too unfair.

Not to mention the English style, quite approximate and superficial.

For all the above reasons, these Terms & Conditions seem unfair and unjust, and for that not be accepted at all.


Case 8

”19. ……. Withdrawals shall be made according to the site procedures and will take up to fourteen (14) banking days or as determined by the billing services provider of the site, the longer between the two.


21. The Company, at its sole discretion, may decide (but not be obliged to do so) to offer bonuses, promotional offers or any other kind of benefits to the Client, to set its conditions, and/or change them without prior notice to the Client. The Company shall not be subject to reason its decision nor to be forced to do the same in future transactions of the Client. Once a bonus has been awarded/accredited to a clients account, they will be subject to execute transactions in an amount of at least ten (10) times the deposit amount and might also subject to minimum deposit and/or minimum volume of trading and/or a certain time limit. Furthermore, the Company may, at its sole discretion, credit the Client with up to Thirty five Percent (35%) bonus for each deposit made by the Client up to a maximum of one thousand five Hundred ($1500). ”


The important and unfair conditions are:

· the delay of 14 days before transferring the money is quite long and unjustified even for all possible controls for identity security and anti-laundering purposes;

· the broker reserves the right to credit on the customer’s account a bonus up to 35% of the deposit, with no possibility for the customer to reject it, which means that the broker has the right to artificially create the bonus and to impose the subsequent bonus conditions of the minimum turnover of transactions, which could mean that the broker can avoid any request of withdrawal by simply crediting the bonus!

These conditions must be considered unfair and unjust and for that not acceptable.


To conclude, looking at the Terms & Conditions of the different brokers, it is clear that there are brokers which are highly professional and serious, as well as brokers which take advantage of the fact the potential customers do not read the contract between them and the broker and chose the broker on the basis of marketing campaigns, advertising, promotion activities in general.

It is therefore necessary to carefully read both the T&C regulating the trading account and the relationship between broker and customer, and the specific conditions of the trading bonuses that brokers offer constantly to attract new customers.