TOP 5 Binary Options Brokers in Latvia
If you live in Latvia and are looking for the best binary options broker, you’ve come to the right place. In this article, we will introduce you to recommended brokers that accept clients from this country. By opening an account with one of the recommended brokers, you can be sure that you will not be scammed. Below you will find detailed information on each broker listed.
Best Platform: Pocket Option
Best Signals: Quotex
Best for Low Budget: IQcent
As you can see, the choice of brokers is very large. If you are looking for the best broker with a modern platform and a great application available for Android and iOS, choose Pocket Option. If you want to try trading signals, choose Quotex. And if you are looking for a broker that offers a lightweight platform and a low minimum deposit, choose IQcent. Below you will find more information about each of the listed brokers.
A modern platform that was established in 2017. The broker is regulated by the IFMRRC, which means your deposit is completely safe. The broker offers on its platform features such as: copy trading, trading signals, bonuses, cashbacks, risk free trades and much more. The minimum deposit is just $50 and the minimum investment amount is just $1. Pocket Option allows you to open positions with a minimum expiry time of 15 seconds. A broker recognized as one of the best in the industry.
If you decide to open account using links on our website – you’ll receive 50% deposit bonus!
The youngest broker in our list. Quotex was created in 2020 and has no regulations. Please note that the broker is registered in the Caribbean and does not need a license to operate legally. However, for security reasons, a certificate is advisable. On the platform you will find features such as effective signals, bonuses. For activity on the platform, the user is rewarded with achievements that allow you to buy extras such as risk free trades or bonuses in the “Market” tab. The broker is recommended for people who are looking for a lightweight platform with a lot of analytical tools.
It is a very popular broker among clients looking for a lightweight platform with a minimum initial deposit. IQcent has no regulation. The minimum deposit is $20 and the minimum investment amount is only $1. The broker stands out in that it regularly rewards active traders with prizes in the form of money or high-quality equipment. The platform is very simple and does not offer too many analytical tools. We recommend this broker primarily to people who care about a minimalist platform or copy trading function.
BinaryCent is a platform owned by the owner of IQcent. Therefore, in terms of regulation and functionality, the brokers are very similar. The only difference is a different color of the graphic design and a different amount of the beginner’s deposit. To start your adventure with this broker, you need to deposit as much as $250. In return, you can claim a high bonus of up to 50%. If you deposit over $1000 you will receive 3 risk free trades.
Another broker belonging to the IQcent and BinaryCent family. This is the least popular platform on our list. The platform is distinguished by instant withdrawals processed within an hour. In comparison, the rest of the brokers on our list process withdrawals within 2 business days. This is a great result, but the question is is it worth it? In our opinion, this is the ultimate choice because the broker offers average conditions and a minimum deposit of $250.
What Are Binary Options?
Binary options is a financial instrument that owes its popularity to its simplicity. The user decides whether in his opinion the price will increase or decrease and if the prediction is correct, the user will receive a predetermined remuneration. Most often, returns on a profitable trade range from 75% to 95%. The higher the returns, the easier it is to earn money. Binary options are very popular in South American and Asian countries. In Europe, binary options are officially banned, and the only option to invest in this area is to find a broker who is not based in the EU. In our lists you will find brokers depending on the country in which you live.
How do binary options brokers make money?
If you ask the broker about it, you will most likely not get any specific answer or you will hear that the platform earns commissions from transactions. The truth, unfortunately, is that brokers make money from customer losses. If you make a deposit and lose money, it will be credited to the broker’s account. The difference between what traders lose and earn is the broker’s profit.
Therefore, keep in mind that the broker is not your friend or trading partner. This is your opponent and your job is to outsmart him. Therefore, we do not recommend relying entirely on copying traders, signals or strategies provided by the platform.
Are Binary Options safe?
There is no simple answer to this question. It all depends on which broker you choose. If you choose an anonymous broker that was created recently and in addition does not have any license, there is a greater risk that you will be cheated. That is why we always recommend choosing brokers who have experience and a large customer base. All platforms on our lists are thoroughly checked by us in terms of operation, trading, deposits and withdrawals.