Binary options trading has really taken off over the last few years, with new binary options brokers joining the market seemingly every year. Thousands of option traders have signed up and continue to sign up each month to take advantage of extraordinary opportunities for profits and other benefits.
Of course, an option trader will not be a fit for every binary options website out there. Different websites cater to different traders. For example, some option brokers are better for high-end option traders who have significant amounts of trading capital at their disposal. Other option brokers are tailored for casual or beginner traders who may not have as much capital at stake (or may not want to risk as much).
This is why breaking out the binary options trading websites by minimum deposits is a good idea to get started finding option brokers that work for you. This article will review several binary options brokers out there and examine the minimum deposits required for trading, so you can see what websites fit you as an option trader and your budget.
Leading Option Brokers and Their Minimum Deposits
Most of these brokers allow binary options trading accounts to be opened without depositing anything at all. In fact, many have binary options demo accounts to get you used to making trades and learning the system, using free “virtual money” granted by the broker.
When you move into real money, though, is when minimum deposits are required. Here are the minimum deposits required by several leading option brokers in the market in order to open a trading account with them.
- 24Option: $200
- AnyOption: $100
- BetOnMarkets: $5
- GlobalOption: $100
- InstaForex: $1
- iOption: $150
- OptionBit: $100
- OptionFair: $200
- OptionRange: $50
- StartOptions: $100
- TraderXP: $100
- WinOptions: $100
As you can see, the majority of binary option brokers request a minimum deposit of around $100. The binary options website with the highest minimum deposit is 24Option, while Instaforex, BetOnMarkets and OptionRange have the lowest minimum deposit amounts. Keep in mind that minimum deposit amounts often vary depending on the payment method one chooses to use so the minimum amount may be different for a credit card than it is for a wire transfer, for example.
Here is a brief list of various payment methods and which of the binary option brokers accepts them.
For a full list of binary option brokers, click here to view our binary option broker review table.