If you want to trade anytime, anywhere, you need a binary options app on your phone or tablet. When trading in very short term expirations, it is most important to be able to trade at the right time. Brokers recognize this, and of course they want their clients to be able to trade wherever and whenever they want. So trading via a mobile app is an important offering for most binary options brokers.
How to trade with apps
Most mobile apps offer a full range of trading options. So the majority of markets and expiry time will be available. Binary options brokers have also tried to ensure that the trading platforms are as simple and easy to use on mobile devices as they are online. Many firms offer ‘one touch’ trading that can work just as easily on a mobile device. This means that trading anytime is a real possibility for busy traders. Assume that the relevant markets are of course open.
The leading brokers all offer mobile apps. These are generally available via the usual sources;
- Google Play– store for Android devices
- iTunes App Store
- Direct download from the broker website
The applications are free for customers. Some brokers have paid more attention and care to their apps than others – the quality of each app is covered in our broker reviews. Many trading apps use the touch screen functions of the various mobile phones and tablets, and others have created charts and views that can only be used for mobile devices.
Potential disadvantages
A weakness shared by the majority of binary trading apps is that the account management functions are sometimes not available and some of the features on the full website are not available from the app. This is a common feature with mobile apps because they need to be cut down versions of the full product to work effectively on tablets and mobile devices.
Some brokers have some great features that set them apart from the competition – those that can also make it available to mobile users offer the best of both worlds to their clients.
What do the best apps offer?
At the bare minimum, trading apps offer the trade to trade – anything less would be rather pointless. However, some brokers have gone beyond the minimum and created tools and features that can be offered specifically for binary trading via a mobile platform. Some offer up-to-the-minute financial news via the app. This can be very useful.
There are also apps that provide up-to-date maps and prices for mobile devices. The key here is to ensure that the data is readable and usable, and it’s the attention to detail that separates some broker apps from others. Read our individual reviews to see in-depth analysis of each broker’s app.
The financial markets react instantly to news and events, so the right broker, with the right mobile app, can make a huge difference to the profitability of any binary options trader.
Who has the highest rated app?
… According to the users who have already downloaded it?
Almost every binary options broker now offers their trading platform via a mobile app. Brokers are well aware that traders want and need to trade anywhere at any time. The apps have been developed across every platform and device as the demand for mobile commerce increases – but the quality of the apps on offer varies.
Some brokers have clearly spent a lot of time, money and effort to develop a feature rich and intuitive application. One that not only allows trading via clear, easy-to-use screens, but also gives users the ability to maintain their account or research future trades. Some have even made sure that their apps are optimized for specific devices or operating systems – limiting the use of technology to certain brands and models.
For our mobile app research, we collected the user ratings assigned to the apps as indicated on the play store information pages – so our data is based on Android– users only. The information was collected during October 2015.
In addition to listing the current rating, we have also illustrated the number of reviews the application has received. We’ve presented the “top 10” in graphic form (click on the image to enlarge) – but the raw numbers are presented below. We based the top 10 on the number of reviews rather than the rating, as a low number of reviews can skew the ratings and would not be as reliable as a larger amount of feedback.
Which mobile app is the best?
On pure ratings, the Anyoption app comes out on top. A rating of 4.8 is tremendous user acceptance. It is also interesting to note the ratings in general: 3.8 is the lowest point, indicating that all the trade applications were relatively well received.
The mobile app of IQ Option has received a large number of reviews – almost ten times the next largest. This may reflect the fact that the low minimum deposit requirements at IK attract a large number of traders. Whatever the cause, 20,000 reviews certainly provide a thorough spread of opinion, and the rating of 3.8 can be considered a very reliable version of the app.
Popular brands like 24Option and IG Index also have over 2000 reviews each – more than enough to give their overall rating some credibility. At 4.0 and 3.9 respectively, both apps provide their large user base with a robust, functional app.
Some apps have not yet received enough reviews to give a strong user rating; we set our minimum at 150. However, we have included the applications in the table below.
