Binary options courses can be a reasonable introduction to this ‘all-or-nothing’ style of trading, but they can also expose you to poor or misleading information.
This guide covers what you should know when it comes to choosing a binary options course, the difference between free vs paid materials, and importantly, how to protect yourself against scam course sellers. If you want to skip the course sellers, we’ve listed the binary options brokers with the best free trading educational tools.
Binary Options Brokers With Good Education
Instead of a course provider that may charge a lot of money for low quality information, consider a broker that offers free binary options educational guides. We've ranked these providers by their Education rating.
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- Demo account
- Platforms: Web, MT4, MT5
- Min. deposit: $5
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- Demo account
- Regulator: MFSA, LFSA, BVIFSC, VFSC, FSC
- Min. deposit: $5
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- Demo account
- Regulator: VFSC
- Platforms: Olymptrade Platform
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- Demo account
- Instruments: Forex, Stocks, Cryptos
- Platforms: TradingView
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- Demo account
- Regulator: FINMA, JFSA, Bank of Latvia
- Platforms: JForex, MT4, MT5
Learn how we test brokers and why you can trust our ratings.
Here is a short summary of why we think each broker belongs in this top list:
- Pocket Option 4.2/5 Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
- Deriv 4.6/5 Established in 1999, Deriv is an innovative broker now serving over 2.5 million global clients. The firm offers CFDs, multipliers and more recently accumulators, alongside its proprietary derived products which can't be found elsewhere, providing flexible short-term trading opportunities.
- Olymp Trade 3.8/5 Olymptrade was established in 2014 and now boasts over 88 million traders. With a presence in over 130 countries and support in 13 languages, the brand offers a stable platform and attractive rewards for new traders. Olymp Trade also offers fixed time trades (FTT) over a diverse range of markets. The brand is licensed offshore by the VFSC.
- Binarium 2.6/5 Binarium is an established international broker offering binary options trading on diverse markets including stocks, indices, forex, commodities and cryptocurrencies. Traders can start trading with as little as $1 and earn payouts up to 90% of their stake.
- Dukascopy 3.6/5 Established in 2004, Dukascopy Bank SA is a Swiss online bank and brokerage providing short-term trading opportunities on 25,000+ instruments, including binaries. A choice of accounts (JForex, MT4/5, Binary Options) and sophisticated platforms (JForex, MT4/MT5) deliver powerful tools and market data for active traders.
Community Sentiment
See how users rate these brokers based on the average customer ratings submitted on DayTrading.com, plus ratings from Trustpilot, the Apple App Store and Google Play.
| Broker | Our Users' Rating | Trustpilot Score | Trustpilot Reviews | iOS App Rating | Android App Rating |
|---|---|---|---|---|---|
| Pocket Option | - | - | - | ||
| Deriv | 73669 | ||||
| Olymp Trade | 1291 | ||||
| Binarium | - | - | - | ||
| Dukascopy | - | - |
Pocket Option
Pocket Option stands out as one of the best binary brokers for active traders owing to its now industry-leading range of binary assets and frequent platform upgrades, including ‘AI Trading’ and a wider suite of expiry times, ranging from just 3 seconds up to 4 hours for short-term traders.
Jemma Grist, Reviewer
Pocket Option quick facts
- Demo Account
- ✔Yes
- Instruments
- Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
- Platforms
- Web, MT4, MT5
- Minimum Deposit
- $5
- Minimum Trade
- $1
- Account Currencies
- USD
Pros
- Pocket Option has introduced an ‘AI Trading’ feature that analyzes signals, technical indicators, and trader insights to determine the optimal trade direction and expiration time, though test carefully with small stakes given the limited transparency about how it works.
- The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
- Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
Cons
- You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
- Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
- Despite offering competitive payouts up to 92% on standard binaries and 218% on Express Trades (accumulator trades), some other binary brokers offer higher potential returns on standard binaries up to 98%
Deriv
Deriv is ideal for active traders seeking alternative ways to speculate on global financial markets, from binaries, multipliers and accumulator options to its bespoke synthetic indices, which mimic real market movements and are available 24/7, allowing for continuous trading opportunities regardless of market hours. It remains one of the most trusted, longest-standing binary providers, earning the confidence of our team.
Christian Harris, Reviewer
Deriv quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Multipliers, Accumulators, Synthetic Indices, Forex, Stocks, Options, Commodities, ETFs
- Regulator
- MFSA, LFSA, BVIFSC, VFSC, FSC
- Platforms
- Deriv Trader, Deriv X, Deriv Go, MT5, cTrader, TradingView
- Minimum Deposit
- $5
- Minimum Trade
- 0.01 Lots
- Account Currencies
- USD, EUR, GBP
Pros
- After integrating direct TradingView trading and adding MT5 web trader, Deriv now offers a first-class selection of charting tools across desktop, web and mobile devices.
- Although response times trail alternatives in our personal experience, Deriv offers 24/7 support and is one of the few brokers to offer WhatsApp assistance.
- Account funding is a breeze with a very low minimum deposit of $5 and a huge selection of payment options, plus Tether was added to the cashier in 2023.
Cons
- Although there’s a basic blog, there's little in terms of technical analysis or market reports which could help active traders identify potential opportunities.
- Apart from the MFSA in the EU, Deriv lacks top-tier regulatory credentials, reducing the level of safeguards like access to investor compensation.
- Leverage up to 1:1000 will appeal to traders with a large risk appetite but frustratingly there is no ability to flex the leverage in the account area.
Olymp Trade
OlympTrade is built for short-term traders with contracts from just 5 seconds and fast execution. It also stands out as one of the few fixed time trade brokers to offer trading on ETFs, plus composite indexes, while its customer support excelled during testing, especially on live chat, where we got responses of under 1 minute. The trade-off is weak regulatory oversight making it higher risk.
Jemma Grist, Reviewer
Olymp Trade quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, CFD, Stocks, Indices, Commodities, Crypto, ETFs, OTC, Fixed Time Trades
- Regulator
- VFSC
- Platforms
- Olymptrade Platform
- Minimum Deposit
- $10
- Minimum Trade
- $1
- Account Currencies
- USD
Pros
- Minimum deposit and withdrawals of only $10, ideal for smaller hobby traders
- Over 10 flexible payment methods available including bank cards and Bitcoin deposits
- Commission discounts up to 20% for experienced investors
Cons
- Commissions charged on all assets - up to 15% on standard trades and up to 10% on FTT
- The best conditions are available only to those who can deposit at least $500
- Limited transparency on the website
Binarium
Binarium has been designed with simplicity in mind, featuring a fast, fully digital sign-up process and an intuitive platform and app with 100+ indicators. With binaries spanning 60 seconds to 3 months, it caters to both short and longer-term traders.
William Berg, Reviewer
Binarium quick facts
- Demo Account
- ✔Yes
- Instruments
- Forex, Stocks, Cryptos
- Platforms
- TradingView
- Minimum Deposit
- $5
- Minimum Trade
- $1
- Account Currencies
- USD, EUR, AUD, RUB
Pros
- Binarium has the best education centre we’ve seen amongst binary options brands, complete with information on core topics like trading basics and account options, plus professional video guides to using the platform.
- Maximum potential payouts have risen, going up to 92%, and users can get back up to 15% of losing trades.
- The $10,000 demo account, smooth sign-up, and 24/7 support make for an attractive onboarding experience.
Cons
- Despite being operational since 2012, Binarium is an unregulated broker with limited transparency on its website, raising safety concerns and potentially putting your capital at risk.
- Binarium has some way to go to match the investment offering of binary firms like Quotex, with a particularly weak selection of around 20 currencies and 3 cryptocurrencies.
Dukascopy
Dukascopy suits binary traders seeking the peace of mind of using a well-known brokerage whose banking services are regulated by FINMA in Switzerland, with legitimacy and credibility that’s a step up from most offshore firms. Dukascopy is particularly suited to experienced binary traders, especially those seeking automation through chained option contracts, though we'd avoid the supported Martingale strategy as losses can accumulate rapidly.
Christian Harris, Reviewer
Dukascopy quick facts
- Demo Account
- ✔Yes
- Instruments
- CFDs, Forex, Stocks, Indices, Commodities, Crypto, Bonds, Binary Options
- Regulator
- FINMA, JFSA, Bank of Latvia
- Platforms
- JForex, MT4, MT5
- Minimum Deposit
- $100
- Minimum Trade
- $1 (Binaries), 0.01 Lots (Forex/CFD)
- Account Currencies
- USD, EUR, GBP, CAD, AUD, NZD, JPY, ZAR, TRY, SEK, NOK, DKK, CHF, HKD, SGD, PLN, CZK, AED, SAR, HUF, MXN
Pros
- Dukascopy offers tight spreads starting from 0.1 pips, leverage up to 1:200 (depending on the jurisdiction and asset), and volume-based commissions that reward high-frequency traders.
- Dukascopy added 25,000+ stock and ETF CFDs as a sub-account available on the JForex platform, boosting its appeal to active equity traders seeking diverse industries and regions.
- Dukascopy features some of the best research we’ve seen, even a professional TV studio in Geneva covering financial news, market analysis, and daily insights from professionals.
Cons
- Dukascopy's withdrawal fees are higher than most competitors we’ve tested, particularly for bank wire transfers, which may deter traders who require frequent access to their funds.
- While JForex is feature-rich, it has a steep learning curve, making it less suitable for beginner traders who might prefer simpler platforms.
- Some account types, such as the MT4/MT5 accounts, require a higher minimum deposit of $1,000, which may not be ideal for traders with smaller budgets.
How Binary Options Courses Work
Binary options courses typically combine a mixture of asset-specific trend analysis, the basics of trading binaries and understanding how to build a repeatable trading plan. A good course should also explain the process for identifying possible trades, plus a suitable money management system and risk management strategy.
Note that binaries have been identified by regulators like the SEC in the US as a high-risk product, and this warning should extend to those considering signing up for a binary trading course. As well as some better courses, there are scams to steer clear of, so you should carefully check the provider’s credentials, think twice before committing a large amount of money and don’t provide your personal information to any “educators” who contact you via social media.
How To Compare Courses
Fees
There is no set cost to access binary options learning materials. Registration fees can vary significantly, and some binary options brokers, allow their members to access useful learning materials absolutely free.
Aside from free courses, you can expect a full course to range anywhere in the region of $5 to $1,000 and more. You’ll find some providers that offer ‘lifetime access’ or similar for hefty fees; monthly subscription charges rather can make costs more manageable, and allow you to opt out at your discretion if they don’t have a contract length.
When we’ve reviewed accessible content, we came across numerous binary options trading course available on Udemy in the $10-20 range. These may be a good place to begin, especially given the frequent discounts available from this site.
We would also recommend reviewing some free content before committing to a paid-for service, particularly if you are new to trading the derivative.
Importantly, be wary of binary scams. Avoid course providers promising high returns with limited time investment alongside a large sign-up fee. And stay clear of companies that charge large fees for withdrawals if you upgrade to a live account.
Duration
Another factor to consider is course duration. Your past trading experience, knowledge of binary options and attitude to risk management will play a part in helping you decide the right course duration for you.
Although some may argue binary options courses with a short duration are not the best value for money, if you are looking for quick setup reassurance or a market refresher, a few hours worth of content could still be helpful.
Beginners should ultimately look for longer-term solutions, spanning several weeks or months, with the option to learn at your own pace. This could include daily 10-15 minute videos or online tutorial pages with a reading time of 30 minutes, for example.
Method
Finding a binary options trading course that suits your learning style is key. Whether you prefer reading physical books, reviewing online tutorials, or watching a YouTube video, you should make sure your course offers this. Many of the best binary options courses will integrate a variety of resources into a syllabus, rather than simply providing general tips and hacks.
Experience
A good course will provide content tailored to the trader’s experience level. For example, watching a complex automated strategy video may be too advanced for those just getting started with the topic.
Instead, beginner-friendly courses will run through the basics of setting up a binary options trade, identifying an opportunity, deciding how much to invest, and how to manage risk.
Accessibility & Relevance
It is worth checking if the binary options course provider offers country-specific training sessions. You may miss out on important information, such as details on a respective stock exchange, if you have not considered local time zones and languages.
Note, binary options courses are available in most countries. With that said, the marketing and sale of binary options by authorised local companies have been restricted by some regulators including the UK’s FCA and some EU regulators following the temporary ban by ESMA. As a result, some traders in these jurisdictions access binary options platforms that are based offshore – if you do, you should do so with extra caution as these brokers tend to have weak regulatory insight, if any.
Demo Accounts
The best way to start applying the knowledge you’ve gained from a course is to get some practice with binary demo accounts. With a paper trading profile, you can practice trading in real-time. This is the best way to duplicate the experience ready for when it comes to the live moment.
Just keep in mind that demo accounts can’t replicate the heightened emotions that come with knowing real money is on the line.
Accreditation
Recognition or qualifications are provided when you complete some binary options training courses. This may include a certificate of completion or some other form of recognition.
However, you should be aware that any so-called accreditation is likely to be specific to the provider, and these qualifications may offer little or no real-world benefit beyond the satisfaction of completing the course.
Pros Of Binary Courses
Participating in a binary options course from a well-regarded company or a broker may help beginners understand the the basics. The challenge is finding the few that are actually useful.
But find the right one and you can learn from more experienced traders, develop emotional resilience and delve into an immersive, simulated environment without an initial investment required, before hitting the live trading floor.
Cons Of Binary Courses
Take your time looking into binary options courses. It is essentially another form of investment, so you don’t want to be spending hundreds or thousands of dollars on a program that does not really benefit you with outdated information or content that doesn’t align with your skill level.
We’ve also seen scams in the binary options course space, so check for credentials, track record, and user reviews before getting parting with any money. Only apply to courses on reputable platforms or via well-regarded brokerages.
Tips For Getting The Most Out Of Binary Options Courses
- Spend time researching, learning and testing methods before opening a live profile. Some courses permit lifetime access so you can refer back to details as and when they are required
- Test out the skills and knowledge gained from binary options courses. Utilize demo profiles to practice a new strategy.
- Learning isn’t a ‘one and done’. Be willing to invest in education and study throughout your trading career.
Alternatives
Binary options courses can be an option to get to grips with the steep learning curve of this financial product, but we’ve found increasingly that there are other great options for sharpening your skills.
Some binary options brokers provide high-quality educational material, and these are often a decent starting point for newer traders – they’re normally free, they can be detailed enough to include useful information on strategy and trading techniques, and they usually provide tutorials for the broker’s trading platform.
Binary options books are another good way to find your way into trading and to learn new tactics. Books are generally affordable and once you own one you can study at your own pace; they’re also far less likely to be linked to a scam than a course.
Bottom Line
Binary options courses can be an introduction for some beginners. Look out for course providers that offer flexible learning methods, interactive elements and access to simulated profiles to put your practice into motion. Also be wary of some course providers – many can’t be trusted and are trying to make a quick buck.
FAQs
Do I Have To Pay For A Binary Options Trading Course?
Not all binary options courses come with a fee. There is plenty of information readily available for users on the internet, via books, or in printout PDFs tutorials. With that said, binary options courses that come with a charge may provide more detailed and relevant content.
Are Binary Options Courses Safe?
We recommend only using the course services of a reputable binary broker or training provider. Some programs come with unrealistic claims such as guaranteed profits and may be scams.
How Long Should I Spend On A Binary Options Course?
The length of time you should spend learning about binary options will vary depending on your past experience, knowledge and speed of learning. Shorter, interactive content will get some beginners started. The best courses offer bitesize videos to introduce the topic. Some platforms also offer unlimited lifetime access meaning you can use resources as and when you need them.
What Features Make A Good Binary Options Course?
There are several things to look out for when signing up for binary options classes. We recommend comparing price, duration, learning styles and content.
How Much Do Binary Options Courses Cost?
Binary options courses can vary in price. Educational programs can cost anywhere between $5 to over $1,000 as a one-off price, though some offer monthly subscriptions or annual rates with discounts. It could be worth checking out free content before paying for a service.