Best Binary Options Brokers with Low Minimum Deposit

Photo of author
Written By: Patrick Mahinge
Last Updated:
Category: Binary Options
best binary options brokers with low minimum deposit

Are you ready to dive into the world of binary options trading but you don’t want to part ways with a ton of cash just yet? You’re in the right place! Finding a good binary options broker that aligns with your budget and trading goals is no easy feat, but who says you need a hefty bankroll to get started?

We’ve done the heavy lifting for you by hunting down the best binary options brokers with low minimum deposit requirements. Whether you’re a newbie looking to test the waters or a seasoned trader on a budget, this guide is your golden ticket to trading without draining your wallet. Stick around to find out which brokers offer the most bang for your buck, and how you can turn a small deposit into big profits.

Here are 7 of the best binary options brokers with low minimum deposit

  1. IQ Option
  2. Olymp Trade
  3. Binomo
  4. Exnova
  5. Expert Option
  6. Pocket Option
  7. IQCent


IQ Option's $10 minimum deposit serves as an excellent starting point for new traders while providing enough depth for experienced traders to experiment and diversify. The platform may have its limitations, but its pros undeniably outweigh its cons, especially for those who are new to the trading landscape.
IQ Option is one of the best binary options brokers with low minimum deposit
Editor Rating
IQ Option Overview
🗓️ Year Founded2013
👥 Registered Users40M plus
💰 Minimum Deposit$10
💼 Trading AssetsForex, Commodities, Crypto, EFTs, Options
🔔 Demo AccountsYes

IQ Option is one of the best trading platforms that has really stood the test of time. The broker was founded in 2013 and has continued to evolve into a full-blown trading platform that offers more than just binary options.

Today, IQ Option allows users to trade a variety of financial instruments, including stocks, forex, and options. The platform is known for its user-friendly interface and wide range of trading tools, making it a good choice for both beginner and experienced traders.

At IQ Option, the minimum deposit required to open an account is just $10. Payment methods include Mpesa, card, and e-wallets such as Neteller and Skrill. And if you’re still not sure about investing even that $10, IQ Option offers a free demo account with virtual funds, allowing you to practice without any financial commitments.

And even better, IQ Option isn’t just a one-trick pony; it offers various trading instruments like forex, stocks, and cryptocurrencies. So, once you’re comfortable with the platform, you can easily diversify your portfolio without having to switch to a different trading platform.

🔰 IQ Option Regulation Status: There are countries where IQ Option is not allowed to operate due to local financial regulations. For example, the platform is not available to traders in the United States. Therefore, it's crucial to check if IQ Option is regulated in your jurisdiction or if it's even available for trading in your location.
🧭 Trading Conditions: With IQ Option, you can open trades with as little as $1, which is an excellent feature for traders who prefer to start small. When it comes to payouts, IQ Option stands out by offering up to 95% returns on successful options trades. This is among the highest in the industry.
⏰ 24/7 Trading: IQ Option provides the convenience of 24/7 trading. Unlike traditional financial markets that may close for weekends or holidays, IQ Option enables you to trade around the clock. This continuous trading opportunity allows you to take advantage of global market conditions at any time, day or night.
IQ Option Pros
IQ Options Cons
Olymp Trade is an online broker that was established in 2014 and is owned by Saledo Global LLC, headquartered in St. Vincent & the Grenadines.
Editor Rating
Olymp Trade Overview
❇️ Broker's NameOlymp Trade
💰 Minimum Deposit$10
📱 Mpesa AvailableYes
⚖️ Regulations
🔥 Maximum Payout93%
💲 Min Trade Size$1
💵 Demo Account☑️ Yes
🖥️ Trading PlatformsProprietary

Olymp Trade offers a balanced mix of user-friendly features, asset variety, and strong customer support, making it a solid choice for both new and experienced traders, which is why we rank it #2 in our review of the best binary options brokers with low minimum deposits.

The minimum deposit required to start trading on Olymp Trade is $10 or the currency equivalent. This is a very low amount compared to other binary trading platforms, making it accessible to beginner and smaller retail traders. The deposit can be made using various electronic payment methods such as Mpesa, credit cards, Neteller, Skrill, WebMoney, Yandex, Qiwi, ePayments, Bitcoin, and bank wire transfers.

It is important to note that the minimum deposit for 1st-time traders might vary based on the trading account type selected. Olymp Trade offers 3 account types (they call them Statuses):

  • Starter ($10 minimum deposit)
  • Advanced ($500 minimum deposit)
  • Expert ($2000 minimum deposit)

✅ One standout feature that sets Olymp Trade apart is the availability of trading signals on all account types. These signals offer real-time insights into market trends, helping you make educated trading choices without the need for complex analysis.

👍 The Fixed Time Trades on Olymp Trade offer a staggering 93% payout on successful trades. With fixed-time trades, you predict whether the asset price will rise or fall within a specific timeframe. If your prediction is correct, you stand to gain a hefty return on your investment, making it an attractive proposition for traders looking for high profitability.

Olymp Trade Pros
Olymp Trade Cons
One binary options trading platform that has gained significant attention is Binomo. But how does it stack up when it comes to the essential features traders care about, such as a binary options minimum deposit?
Editor Rating

Binomo is an online trading platform that offers trading in various assets, including currencies, shares, and commodities. When it comes to platform usability, Binomo scores high. The user interface is clean, intuitive, and straightforward. Even if you’re new to binary options trading, you’ll find it easy to navigate through the platform and execute trades.

Binomo is owned and operated by Dolphin Corp LLC, a company registered in Barbados.

💰 With Binomo, you can start trading with a minimum deposit of just $10. This low entry barrier makes it accessible for traders of all levels and aligns well with the platform’s commitment to affordability.

🤖 One of the distinguishing features of Binomo is its focus on manual trading. Automated bots are not allowed on the platform, making it a haven for traders who prefer to rely on their own analysis and strategies.

Although Binomo does not charge any trading fees or commissions, if a trader’s account is inactive for 30 consecutive days, a fee of $10/€10 is charged. Additionally, an inactivity fee of $30 monthly is charged if the account is inactive for 90 consecutive days.

When it comes to regulation, Binomo is certified by the Financial Commission, which adds an extra layer of security and credibility. However, it’s worth noting that they are not regulated by any governmental body, so proceed with caution.

If you’re interested in a trading platform that places an emphasis on manual trading, Binomo offers a compelling option. With its low binary options minimum deposit and a focus on skill over automation, it provides a unique space for traders who like to be in full control of their trading decisions.

Binomo Pros
Binomo Cons
Online reviews suggest that Exnova is a legitimate online trading platform that offers a variety of financial instruments for trading. It has an easy-to-use interface, multilingual support, and multiple deposit and withdrawal methods.
Editor Rating

Exnova is a binary trading platform designed to offer both novice and experienced traders a seamless and efficient trading experience. With a sleek design, user-friendly interface, and a range of trading options, it’s quickly becoming a favorite among binary traders. But does it live up to its reputation as one of the best binary options brokers with low minimum deposit?

Exnova allows traders to invest with any amount of money, and the minimum deal size is just $1. This means that there is no minimum amount required to trade on Exnova. However, traders need to fund their Exnova trading account with at least $10. Starting from $10, traders can enter any funds in their trading account

However, before you commit any real money, you can use Exnova’s demo account to test the waters. This is an excellent feature for those who are new to binary trading or want to get a feel of the platform before investing.

Exnova Pros
Exnova Cons
After a thorough review, it's clear that ExpertOption has a lot to offer. The platform is well-designed, offers a wealth of assets to trade, and places a strong emphasis on security.
Editor Rating

When you open ExpertOption, the first thing you’ll notice is its sleek, modern interface. Navigating through the platform is a breeze, whether you’re a newbie getting your feet wet or a pro looking to execute complex strategies.

For those still tiptoeing around the idea of binary options trading, Expert Option provides a demo account that allows you to practice trading with $10,000 in virtual funds, making it an excellent learning ground.

But that’s not all. The minimum deposit required to start trading on ExpertOption is $10 or its equivalent in other currencies.

Additionally, ExpertOption offers a range of account types to cater to traders of different levels of experience and investment sizes. The available account types are:

  1. Micro Account: This account is designed for traders who prefer a low-risk environment and has a minimum deposit of just $10. The maximum trade is $10, and you can only have 10 simultaneous trades at any given time. You will get access to educational materials, but not the daily market reviews or financial research.
  2. Basic Account: The basic account has a minimum investment of $50 and a maximum trade limit of $25. You are only allowed 10 simultaneous trades at any time, and you do get access to the education materials. If you start with a basic membership, you can always upgrade at a later time.
  3. Silver Account: The Silver account offers an introduction to a personal manager, and the maximum number of open deals is 15, with a maximum deal amount of $250.
  4. Gold Account: The Gold account offers an introduction to a manager, and the maximum number of open deals is 30, with a maximum deal amount of $1000. You also get increased asset profit.
  5. Platinum Account: The Platinum account offers an introduction to a VIP manager, and the maximum number of open deals is 50, with a maximum deal amount of $2000. You also get increased asset profit.
  6. Exclusive Account: The Exclusive account offers an introduction to a VIP manager, and the maximum number of open deals is 100, with a maximum deal amount of $5000. You also get increased asset profit.
ExpertOption Pros
ExpertOption Cons
If you've been on the hunt for the best binary trading app, chances are you've stumbled upon Pocket Option. While it may not be the perfect fit for everyone, it's a strong contender for the title of the best binary trading app with low minimum deposit requirements.
Editor Rating

Pocket Option is one of the best binary trading platforms that offers a low minimum deposit of $5. This is one of the lowest minimum deposit requirements in the industry, making it accessible to traders with limited funds. However, it is important to note that the minimum trade value is $1 per trade, which means that traders with small accounts will have to trade with higher margins to generate acceptable returns.

Pocket Option has received positive reviews for its trading platform, which is user-friendly and offers access to many advanced technical indicators, five different chart types, and time frames ranging from 5 seconds to 1 day. 

The platform also has certain “social trading” features that let users interact with each other as they trade.

⚡ If you’re looking for an app that offers quick payouts, a wide range of assets, and an easy-to-use interface, then Pocket Option could be the best binary trading app for you.

Most cryptocurrency deposits at Pocket Option are processed instantly, but if your deposit is not processed instantly, you can contact the support service and provide the transaction ID hash in the text form or attach a URL-link to your transfer in the block explorer

Related Article: Is Pocket Option Legit in Kenya?

Pocket Option Pros
Pocket Option Cons
If you've been on the hunt for the best binary trading app, chances are you've stumbled upon Pocket Option. While it may not be the perfect fit for everyone, it's a strong contender for the title of the best binary trading app with low minimum deposit requirements.
Editor Rating

IQCent is a binary options and forex broker that was founded in 2017 by a group of FX experts and began trading online in 2020. 

Although it is a relatively new trading platform, IQCent offers a range of assets, from cryptocurrencies to binary options. What makes IQCent special is its user-friendly interface and a variety of features that cater to both newbies and seasoned traders.

✅ The minimum deposit required to register a live trading account with IQCent is $50. This low entry point is particularly attractive for beginners who are not yet ready to invest large sums of money. It enables you to test the platform’s various features without taking on too much financial risk. You can even use this initial deposit to start actual trading, given that the minimum trade size is just $1.

✅ The available methods of depositing and withdrawing funds depend on the country of residence of the trader, and the minimum funding amount varies depending on the type of account and is $10, $250, or $1,000.

✅ Deposits are processed immediately with the exception of Perfect Money which might take up to an hour. Withdrawals usually take about an hour after confirmation has been received that the withdrawal can go ahead

IQCent Pros
IQCent Cons

Best Binary Options Brokers with Low Minimum Deposit
BrokerVisit BrokerMin DepositDemo TradingAccepts Mpesa
binary traders in kenya choose brokers such as Binomo 2023Download App$10YesYes
binary options brokers with mpesa 2023Visit Broker$10YesYes
successful binary traders in kenya use Pocket Option to tradeVisit Broker$10YesYes

Olymp TradeOlymp trade is one of the best platforms for successful binary option traders
Visit Broker$10YesYes
options trading in kenya is possible with brokers such as IQ OptionVisit Broker$10YesYes

Methodology Used to Rate & Rank the Best Binary Options Brokers

We know that finding a trustworthy binary options broker can be a daunting task, which is why we take the time to thoroughly test and review each broker we feature on our site.

Our team of experts has years of experience in trading and analyzing the financial markets. We use this knowledge to carefully evaluate each broker’s platforms, tools, and resources. We also consider the overall reputation of the broker, as well as any regulatory bodies they may be affiliated with.

Our goal is to provide our readers with the most accurate and up-to-date information so they can make informed decisions when choosing a binary options broker. We strive to be transparent and unbiased in our reviews, and we only recommend brokers that we believe are trustworthy and reliable.

Best Binary Option Brokers With Low Minimum Deposit

Binary options brokers with a low minimum deposit are a godsent. They allow you to test-drive their platform without putting too much money into it. Or you might be a new trader wanting to have a feel of this thing called binary options trading.

Whichever might be your case, here’s a review of the best binary option brokers with low minimum deposit.

Professional Vs Low Minimum Deposit Binary Option Brokers

best binary options brokers with low minimum deposit

When it comes to the binary options world there are two kinds of traders.  There are the newly interested type of people eager to learn about the markets and start out small and then there are the advanced traders who would benefit from professional binary brokers.

There is no such thing as the ‘right’ type.  We all have our own styles, ideas, and financial goals when it comes to trading and because of this vast diversity in the way we approach the online investment world, there are obviously going to be different avenues and routes for each.

For those of you with a little more experience in the markets, you will benefit greatly from choosing between one of the more professional binary option brokers in Kenya.

Don’t let this use of the world professional fool you, it’s really got nothing to do with experience level but for our purposes, we’re talking about a broker that caters more towards clients with experience.  If you’re new to binary options, your best choice hands down is a broker like Olymp Trade.  They have a simplistic trading platform, brokers who will answer any questions you might have and the most appealing part to a new trader, you can start with just a bucks!

For those of you coming from a former trading background with a little more understanding of the financial markets, the steps, the technical analysis and charts and so on, choosing a broker that gears more towards your skill level is going to help you much more in the long run.

The major difference here is that these professional binary brokers have higher minimum deposit requirements simply to weed out newcomers from the more advanced. If you know what you’re doing and know how to trade binary options, depositing $250 for example is much more realistic and easy for someone with experience who knows how orders are placed and how stock charts work than someone who just wants to start out slow and dabble.

When it comes to professional binary brokers, we recommend just two.

      1. 24Option was created by traders for traders.  They have former equities, bonds, and currency pros behind the scenes who work tirelessly to create one of the most advanced and professional binary trading platforms online.  They have an incredible number of resources available to their clients and have agents standing by 24/7.  The big thing here is that their minimum deposit to open an account is $250.

      1. Like 24Option, Binary Options is also a huge powerhouse in the binary options world.  You’ve likely heard of them as they are literally like the McDonald’s of the binary world.  They are huge, respected and everywhere.  While they do focus on more advanced traders as their minimum deposit amount is also $5, they definitely want to work with new customers and the inexperienced traders out there.  They have a ton of resources available, coaches, seminars and everything you could need to learn the markets.

    What it all comes down to is the minimum deposit.  Some people balk at $250 and go searching for the lowest possible.  While a broker like Olymp Trade who allows new accounts for just $10 is still a good choice for a beginner, for those of you with a little more experience, the extra $240 needed to get in with one of the big boys isn’t a big deal if you know what you’re doing.  It’s your money and sits in your account no matter what, it simply all comes down to is what makes you comfortable.

    Check out our full Olymp Trade review to see what powerhouse professional binary brokers look like and what they have to offer.

    Binary Options Broker Regulations

    Regulated binary brokers are a rare commodity in the binary options industry and for good reason.  With over 200 different brokers now operating online and competing for your account, many people are now curious about regulated binary brokers and just what in means to be a regulated binary options broker.

    For the longest time, regulation in this industry was synonymous with Banc de Binary.  This broker liked to flaunt their licenses while continually promising both current and prospective clients that they would soon be regulated by new agencies.  We learned in earlier in June that the Securities and Exchange Commission and the Commodities and Futures Trading Commission in the United States filed suit against the broker for offering binary options to American citizens. Regulated binary brokers in the industry were quick to pause and take notice.

    This suit filed against Banc de Binary, who for the longest time was one of the Top Binary Options Brokers in the industry really rattled the community and we quickly saw many brokers begin to turn away US customers.  Granted, many still offer their services to American traders and those brokers can be found on the review page, identified by the little green arrow.  But regardless of where you’re coming from, the whole notion of binary options regulation and regulated binary brokers is a popular topic.

    Regulated Binary Brokers – CySec

    The most common agency we’ve come to see plastered across binary broker sites and trading platforms is a stamp of approval signifying that the broker is regulated by the Cyprus Securities and Exchange Commission.  Scratching your head right? Isn’t the Cypriot economy on the verge of collapse and yet here you are seeing these regulated binary brokers with a Cyprus agency giving them the green light. Moving on.

    From our understanding of the Cyprus licensing requirements, once a broker achieves this status, they must stop allowing US clients to trade financial instruments.  We’ve seen this with many brokers, most notably with 24option recently as they fully pulled the plug on US accounts.

    The point of this is to understand that CySec is not the same as the United States SEC.  They are less known, operating in a volatile economic climate and appear to hand out licenses to everyone and their mother.

    That said, there are plenty of unlicensed and non-regulated binary brokers we would trust more than those with the actual license stamped on their platform.  It’s all about preference and understanding the risks. If you’re interested, you can actually read the current regulated binary brokers list on the CySec site.

    Another big agency that has recently become more involved is the Financial Services Agency out of the United Kingdom.  Right off the bat, you’re likely thinking that an agency out of the UK is certainly more established and trustworthy than an agency operating out of Cyprus handing out licenses for a set fee.

    But no, the FSA is just as interesting of an agency.  Formed back in 2001, it is essentially nothing more than an independent company acting outside of government oversight that operates by collecting fees from the financial industry.  What does this all mean?  These licenses can be bought and if they can be bought, could it be that they are just purchased by the company to give you some peace of mind despite the fact that neither agency is really all that powerful?

    Regulated Binary Brokers – What To Watch For

    So what it all comes down to is the simple fact that choosing between regulated binary brokers and those without the license is really more of a personal preference.  Many big name brokers who have been around since the beginning are not regulated and have no intentions of doing so.  They are established, have solid reputations and let their business practices speak for themselves without forking over capital just so they can add “regulated” branding to their sites.

    On the other hand, many other brokers see it as a way to instill a sense of legitimacy and are now in the process of acquiring these licenses.

    Bottom line, if you’re in the United States, Uncle Sam doesn’t want you trading binary options. Whether it’s for your own protection or more likely, the fact that they can’t take a cut of the action, is anyone’s guess.  However, many big name brokers like uBinary and 99Binary still offer accounts to US traders.  Not only that, but both have the lowest minimum deposits in the entire binary industry!

    For those of you in the rest of the world, the regulations are still very lax and most countries have no issues with their citizens trading binary options online.  It’s all about what you’re looking for.  No one can tell you to choose regulated binary brokers or not.  It’s simply a preference.

    Leave a Comment

    1 thought on “Best Binary Options Brokers with Low Minimum Deposit”

    Newsletter Subscription
    Subscribe Now to Get
    365 Profitable Forex Trading Tips
    Free Forex Trading Tips

    Sign up for our daily newsletter to get exclusive forex trading tips and signals