Best binary options brokers in Mongolia
Trading binary options from Mongolia is legal, because nothing in local law prohibits it. Here is which brokers accept people living in Mongolia, and what to check before your first deposit. Each of them keeps your balance in US dollars, which means paying in MNT always involves a currency conversion.
By Broksal Team, trading binary options, forex and CFDs since 2017. Updated . How we test
How we score
Each binary options broker gets five sub-scores out of 5:
Platform (25%), costs and payouts (20%), deposits and withdrawals (15%), support (15%) and transparency and regulation (25%). The overall score is the weighted average, rounded to one decimal. None of these brokers is licensed by a top-tier regulator, which is why their transparency scores are low.
Availability is checked against each broker’s published list of restricted countries. The order of the ranking is set by our authors from their own experience with these platforms, so it does not always follow the scores.
Advertiser disclosure
Broksal is free to use because some brokers pay us a commission when you open an account through our links. It costs you nothing.
Commissions do not affect the facts we publish about regulation, payouts and country availability, which come from the brokers’ own documents and independent sources.
Top 3 for Mongolia
- 1
Our top pick in Mongolia
Pocket Option
4.1Trades from $1, a $50,000 demo you can open without registering, and copy trading
- Minimum deposit
- $5
- Minimum trade
- $1
- Maximum payout
- Up to 92%
- Demo account
- $50,000, no sign-up
Open free accountBinary options are high-risk; you can lose your whole stake.
- 2
IQ Option
4.0Its own fast platform with 300+ assets, a desktop app and payouts of up to 95%
Accepts residents of Mongolia
- Minimum deposit
- $10
- Minimum trade
- $1
- Maximum payout
- Up to 95%
- Demo account
- $10,000, after sign-up
Open free accountBinary options are high-risk; you can lose your whole stake.
- 3
Expert Option
3.7A simple screen, account tiers and a social feed, from a $10 deposit
Available to people living in Mongolia
- Minimum deposit
- $10
- Minimum trade
- $1
- Maximum payout
- Up to 90%
- Demo account
- $10,000, no sign-up
Open free accountBinary options are high-risk; you can lose your whole stake.
Binary options are high-risk products. Each trade is all-or-nothing: if the price ends on the wrong side, you lose the whole amount you staked. Most people who trade them lose money. Only trade with money you can afford to lose, and start on the free demo account. Nothing here is investment advice, and past payouts do not predict future results.
Mongolia at a glance
| Capital | Ulan Bator |
|---|---|
| Currency | Mongolian tögrög (MNT, ₮) |
| Official languages | Mongolian |
| Time zone | Asia/Ulaanbaatar |
| Financial regulator | Financial Regulatory Commission (FRC) |
| Binary options | Legal (no law prohibits them) |
| Brokers accepting residents | 3 of 3 we rank |
Is binary options trading legal in Mongolia?
Binary options are legal in Mongolia. No binary-options-specific framework was found. Residents who trade use offshore brokers.
Financial Regulatory Commission (FRC) does not supervise these brokers: they serve Mongolia from abroad, and your client agreement is governed by the law of the country where the broker is registered. Our legality guide shows how we classify each country.
Tax
Any profit is taxable under the tax law of Mongolia; offshore brokers do not report to the local tax office or withhold anything. Keep your statements and payment history. This is general information, not tax advice.
Paying in MNT
A card payment in MNT is converted to dollars before it reaches the broker, at a rate set by the card scheme or the payment provider. On a $10 deposit that can cost more than the trades themselves. Payment options depend on the country you choose at registration, and withdrawals usually go back to the method you paid with.
Market hours in Ulaanbaatar time
| Market | Nov–Mar | Apr–Oct |
|---|---|---|
| Tokyo | 08:00–14:30 | 08:00–14:30 |
| London | 16:00–00:30 | 15:00–23:30 |
| New York | 22:30–05:00 | 21:30–04:00 |
Currency pairs move most while London and New York are both open: 22:30–00:30 in winter and 21:30–23:30 in summer in Ulaanbaatar. At weekends the platforms switch to OTC quotes they price themselves.
First steps from Mongolia
Start on the demo: Pocket Option opens one without registration. When you sign up, choose Mongolia as your country, because identity checks before the first withdrawal compare it with your documents. Deposit bonuses are optional, carry a trading-volume condition and can be declined. Full pros, cons and costs of each broker are in our main ranking.
Frequently asked questions
Which binary options broker is best in Mongolia?
Pocket Option is our pick for Mongolia: a $5 minimum deposit, trades from $1 and a $50,000 demo without registration. IQ Option and Expert Option are also available.
Is binary options trading legal in Mongolia?
No law in Mongolia prohibits binary options. The brokers that serve Mongolia are registered abroad and are not licensed locally.
Can I deposit in MNT?
You can pay in MNT, but the account is kept in US dollars, so the money is converted.
Do I pay tax on binary options profits in Mongolia?
Profits are taxed according to the local rules in Mongolia. This is general information, not tax advice.
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