If you want to trade at any time and in any location, you need a binary options application on your mobile phone or tablet. When trading on very short expirations, being able to make trades at the right time is paramount. Brokers recognize this, and of course, they want their clients to be able to trade wherever, and whenever they choose. So trading through mobile apps is the main offering for most binary options brokerages.
Top Trading Apps
How to Trade with Apps
Most mobile applications provide a wide range of trading options. So the majority of market and time scale expirations will be available. Binary options brokers also try to ensure that trading platforms remain simple and easy to use on mobile devices, just like they are online. Many firms offer ‘touch’ trading that can work easily on mobile devices. This means anytime, anywhere trading is a real possibility for busy traders. Assuming the relevant market is open of course.
Top brokers all provide mobile apps. They are usually available through the usual sources;
- Google Play Store for android devices
- iTunes App store
- Download directly from the broker’s website
Free app for customers. Some brokers have taken more care and attention with their applications than others – the quality of each application is covered in our broker reviews. Many trading applications utilize the touchscreen capabilities of various cell phones and tablets, and others have created charts and views solely for use on mobile devices.
Potential Disadvantages
One of the disadvantages of the majority of shared binary applications is that account management features are sometimes not available and some features provided on the full website are not available from the application. This is a common feature with mobile apps, as they need to be cut down to the full product version to run effectively on tablets and mobile devices.
Some brokers have some very good features that set them apart from the competition – being able to make them available to mobile users, truly offering the best of both worlds to their clients.
What Apps Provide?
At the very least, a trading application provides the ability to trade – anything less would be useless. Some brokers, however, have gone beyond the minimal and carefully crafted tools and functions for binary trading via mobile platforms. Some provide up-to-the-minute financial news through the app. This can be very helpful.
There are also applications that provide date and price charts to mobile devices. The key here is to ensure the data is readable and usable and it is this attention to detail that separates some broker applications from others. Read our individual reviews to see an in-depth analysis of each broker application.
Financial markets react immediately to news and events, so the right broker, with the right mobile app, can make a big difference to the profits of every binary options trader.
Who Has the Highest Rated App?
… by users who have downloaded it?
Almost every binary options broker now offers their trading platform through a mobile application. Brokers realize that traders want, and need, to trade anywhere, anytime. Apps have been developed across every platform and device as the demand for mobile commerce grows – but the quality of apps on offer varies.
Some brokers have clearly spent a lot of time, money and effort to develop rich and intuitive applications. One that not only enables trading through a clear and easy-to-use screen – but also gives users the ability to maintain their accounts or even research future trades. Some have made sure their apps are optimized for specific devices or operating systems – making full use of technology only available to certain makes and models.
Other brokers have created apps with very little ambition in mind, almost treating any mobile trading offer as a “tick in the box”. Although each mobile application is included in our full in-depth review, another way to evaluate the convenience of mobile trading on each broker is to compare the user feedback each application has received – and find out what existing users think of the mobile application.
For our mobile app research, we have collected the user ratings given to the app as quoted on the play store information page – so our data is only based on android users . The information was collected in October 2015.
In addition to listing the current rating, we also display the number of reviews the application has received. We’ve presented the “top 10” in graphic form (click on the image to enlarge it) – but the raw numbers are presented below. We based the top 10 on the number of reviews, rather than the rating, because a low number of reviews can degrade the rating, and is not as reliable as a larger number of responses.
Which mobile app is the “best”?
On pure evaluation, the Anyoption app comes out well on top. 4.8 rating is great support from users. It’s also interesting to see the ratings across the board – 3.8 is the lowest score, indicating that all trading apps have been well received.
The IQ Option mobile app has received a huge number of reviews – almost 10 times the next. This may reflect the fact that the minimum deposit requirement at IQ attracts a large number of traders. Whatever the cause, 20,000 reviews certainly provide a wide spread of opinions, so its rating of 3.8 can be considered a very reliable reflection of the application.
Similarly, popular brands such as 24Option and IG index also have more than 2,000 reviews each again, more than enough to give their overall rating one of reliability. At 4.0 and 3.9 respectively, both applications provide a large user base with robust functional applications.
Some apps haven’t received enough reviews to give us a solid user rating – we set our minimum at 150. We have, however, included those apps in the table given below.
Here are the full numbers, listed by rating.