BinaryOnline Broker Review ¦ Binary Trading South Africa

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo
    Binomo

    Only for experienced traders!

BinaryOnline Broker Review

There are hundreds of brokers on binary options market in South Africa and each day, new binary brokers appear by offering trading platforms to trade binaries in an efficient way.

BinaryOnline is one of such brokers, who is present for all interested South African traders.

BinaryOnline is owned by the Zola Ltd, company located in Bulgaria, Europe.

To learn more about this binary options broker and what trading features does it offer to traders in South Africa, read further in our BinaryOnline broker review.

BinaryOnline General Info – South Africa

According to BinaryOnline broker review, they claim to offer a wide selection of trading tools and services, which should be sufficient enough to enable traders to achieve high profits on BinaryOnline trading platform.

To begin trading binaries with BinaryOnline, required minimum deposit is $250. Also, accepted currencies are: EUR, GBP and USD. Lowest investment is $25 while only for Hyper options, minimum investment is only $5.

This broker claims to offer max. returns up to 81%.

BinaryOnline Platform and Trading Features

This binary broker states how they are continuously working on delivery latest trading tools and innovative platform to interested traders in order to have a successful binary trading journey. Our BinaryOnline broker review shows how they use PandaTS software.

Platform looks very modern and traders can easily navigate over the site when in a search to find relevant information before trading binary options begins. This software is one of the popular ones in binary industry and an increasing number of brokers use it on their platforms.

What we found useful while reviewing BinaryOnline broker is that they offer a selection of trade options with detail explanation of each. They include: One Touch, HIgh/Low, Range Options, Hyper Trading, Copy and Social Trading.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo
    Binomo

    Only for experienced traders!

Considering times of expiry, BinaryOnline covers a truly amazing list of expiry times, such as short term (30 s, 60 s, 2 min, 5 min, 15 min), medium term (30 min, 1 hr, end of day) and long term (end of week / year).

Our BinaryOnline broker review revealed how they offer more than 100 of different underlying assets, such as stocks, commodities, currencies and indices.

There aren’t too many binary brokers who offer Social Trading option such as BinaryOnline does. They support copy and social trading which is especially important to traders beginners since it enables them to have more successful trades. South African traders are able to follow successful pro traders and copy their good trades.

Another powerful trading instrument we discovered in BinaryOnline broker review is opportunity to experience mobile trading. In past few years, binary industry put focus on developing new ways how to attract people to join the platforms and by offering mobile platforms they achieved great success.

With BinaryOnline mobile app, traders in South Africa are able to experience a whole new level of trading binary options. It is an excellent choice for all those busy traders who want to have access to the trading platform on the go. With this app, South Africans can see how list of trading tools and features is exquisite, same as in desktop version.

BinaryOnline app is connected both with Apple and Android devices so traders are able to download the app from App Store and Google Play as well. Registered traders only have to provide their email and password when they try to login to the mobile app. BinaryOnline app is free and simple to use.

What we noticed also while reviewing this broker, is that BinaryOnline is connected with one of the leading binary auto trading software on the market; Binary Options Robot. This way, South African traders who prefer auto trading benefits are able to trade binary options with BinaryOnline broker.

BinaryOnline Account Types

Our BinaryOnline broker review showed us how traders are able to choose between three different trading accounts. Further, we’ll provide more details about a specific account type.

BinaryOnline Takeoff Account

  • Deposit $250 – $2499
  • 24/7 customer support
  • Promotional email alerts
  • Daily market news and updates
  • Access to winners corner and webinars

BinaryOnline Standard Account

  • Deposit $2500 – $9999
  • 24/7 customer support
  • Promotional email alerts
  • Daily market news and updates
  • Access to winners corner and webinars
  • Personal trading expert
  • Access to free signals for 2 weeks

BinaryOnline Premium Account

  • Deposit $10000 – $49999
  • 24/7 customer support
  • Promotional email alerts
  • Daily market news and updates
  • Access to winners corner and webinars
  • Personal trading expert
  • Access to free signals for 3 weeks
  • 10 risk free trades
  • Live trading with Professional
  • Higher profits

So far, we haven’t noticed demo account on BinaryOnline platform. Most traders prefer to try out the platform before they place a trade and make a deposit. It is pretty handy since inexperienced trades get an option to train first and later on, experience real trading in binary options.

However, BinaryOnline broker review revealed how registered traders are able to use Islamic account, intended for Muslim traders. With Islamic account, traders don’t have to pay any additional charges and yet have an option to trade binaries on this easy to use trading platform.

BinaryOnline Customer Support Service

For this BinaryOnline broker review, we noticed how they provide really good customer support, which is meaningful to all traders in South Africa interested to join this trading platform. Traders are able to contact this binary broker via: email [email protected] , live chat, phone (UK and Australia) and online contact form.

We tried out live chat option and were satisfied since support agent joined the chat shortly. We find customer service to be an important segment of trading binary options since very often, traders want to get an instant answer and that can be provided with a responsive BinaryOnline customer support service.

Education segment is considered as an important segment of binary trading and its importance is recognized by BinaryOnline broker. Under Winners Corner, traders in South Africa are able to find a truly excellent list of education guides and tutorials.

Winners Corner is divided into: ebook, binary options 101, binary options 201, knowledge base, binary insight, FAQ and market updates from financial markets.

These educational tools are greatly appreciated since they assist traders to improve their existing trading knowledge and go few steps further into learning more and becoming more successful trader in binary options trading.

While binary trading 101 and 201 provide more explanation of what binaries are and how to trade them, in Knowledge Area, traders are introduced to videos, signals, glossary and ebook in order to be well informed and see what are the latest market trends.

A selection of videos, economic calendar, calculators etc are available under Market Insight. Traders are able to know from where do market news come from and how to use that in binary trading process.

BinaryOnline Banking

According to BinaryOnline broker review, this brokerage company is operated by the Zola Ltd, 14 Tsar Osvoboditel Blvd in Sofia, Bulgaria.

They try to maintain high safety measures and conduct transparent online business. This can be seen under BinaryOnline tab, since they offer privacy policy, terms & conditions, KYC policy, AML policy and many more.

To make a deposit, traders need to invest $250 at least to begin trading. It is possible to deposit via debit (Visa) and credit cards (Mastercard), as well as bank wire transfer. From e-wallet representatives, only CashU is available.

As regards to withdrawals, traders in South Africa need to login to their trading account, go under My Account and click on Withdrawal tab. Several documents need to be sent to the broker first, for authorizing a trading account, such as:

  • proof of residence
  • copy of ID card
  • Copy of credit card used in binary trading
  • Investment testimony form

Depending on chosen trading account, estimated period of time for funds withdrawal is between 3 to 5 business days.

This broker unfortunately charges fees for all withdrawal options. Via credit cards fee is $25 and additional $10 processing fee (credit cards), for CashU it is $25 and via wire transfer even higher, $50. This is way higher than average amount in industry which we think it is pretty odd and unclear.

Binary.com Login

Binary.com login process is very simple for interested South African traders. To get access on the platform, traders need to provide personal data to initiate registration process.

In order for Binary.com broker to ensure safey of their funds, they are obligated to verify received data, provided by traders before placing a deposit.

Registration can be executed in just few steps and once done, confirmation email will be sent to registered traders to activate trading account. It is usually done within 24 hours.

Also, before South African traders make Binary.com login, they should select a preferred payment options, will it be credit card, bank wire transfer of payment via e-wallet provider.

Since sign up to Binary.com doesn’t take much time, traders can right away start trading binary options. For this Binary.com login review, we discovered how this broker offers unlimited demo account upon registration.

This is very significant, especially for new and inexperienced traders who are just about to start their binary options journey.

For each next time to use this platform, traders have to provide email and password for Binary.com login.

After Binary.com login access, traders in South Africa can use web-based trading platform with a variety of different services and mechanisms for more successful trading process. This broker uses own proprietary platform, which is easy to navigate over the site and trade binary options.

After Binary.com login, traders can choose between a selection of top notch underying assets, such as stocks, commodities, currencies and indices. In case of any queries, South Africans can contact customer service on live chat, as the fastest way or email [email protected] .

Is there Binary.com Robot?

To South African traders interested in auto trading with this broker, information of Binary.com robot is important. While reviewing Binary.com, we noticed how they offer robots for binary auto trading experience.

To get access on Binary.com robot, traders first need to be logged to this platform, otherwise they will not be able to use it.

They offer bots for automated trading, several of them from which traders can choose preferred one for Binary.com robot experience. It is advised traders to go on Binary.com webshop and see offered bots for auto trading.

For this review, we learnt how Binary.com robot is for unlimited period of time. With Binary.com robot, registered South African traders can invest in different assets, including currencies, commodities, stocks and indices.

Most of these robots come with a price, from $30 to $299. Once purchased, they can be used for trading on both live and demo trading account. However, there is a free Binary.com robot, called Binary.com Bot.

This robot serves as an useful tool for automated trading binary options. This Binary.com robot uses different strategies and one of them is widespread Martingale strategy.

Binary.com Demo

For Binary.com demo account review, we dicovered how they offer registered traders demo to practice trading binary options. Binary.com demo is called Virtual Account.

What is so appealing to demo account? Possibility to test the platform and practice is extremely valuable, especially for new and inexperienced traders in South Africa. On demo account, traders can test different strategies to see which one works the best and is the most profitable one.

BinaryOnline Review – Is it scam or safe?

Basic Information

Minimum deposit Min./Max, bet size Payout % Welcome Bonus Trading platform
$5 / $5 000 Up to 81% From 25% to 75% Web-based

BinaryOnline is a binary options broker, offering trading in currency pairs, commodities, indices, and cryptocurrencies on their in-house web platform. It operates without a broker license.

Otherwise, BinaryOnline’s website is rich in content and with nice design. There is also extensive educational section. All accounts, instruments and platform features are well-described.

Trading Accounts

BinaryOnline offers its clients a choice of several account types, depending on the initial investment:

Account type Min. initial deposit Welcome bonus
Takeoff $250 Up to 25%
Standard $2 500 Up to 50%
Premium $10 000 Up to 75%

Standard & Premium account holders get personal trading advisor and 2 – 3 weeks of free signals trading. The broker also offers swap-free (Islamic) services.

The Company. Security of Funds

Founded in 2020, BinaryOnline claims to operate in over 100 countries and to have more than 200 000 registered users. According to the information on the broker’s website, the brand is owned and operated by Zola Ltd. – a company based in Bulgaria, which does not hold a brokerage license. Although operating without proper authorization is not uncommon in the binary options industry, we advise traders to choose their brokerage very carefully. There are many scams out there, targeting mostly unexperienced traders, and most of them are not regulated.

That is why you’d better choose a broker regulated in Cyprus, for example, where CySEC exercises certain supervision and control and where your money is protected by the Investor compensation fund up to $20 000 in case something goes wrong.

Trading Conditions

Trading Options: Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs, Builder, Limits, Tradereplica

Assets: Currencies, Stocks, Indices, Commodities, Cryptocurrencies

Expiry times: from 60 seconds (60 seconds) to 1 year (Long term)

Minimum Initial Deposit

The minimum initial deposit for clients of BinaryOnline is $250, which is a bit high for an unregulated broker. In comparison, in order to open an account with CySEC-regulated NenX, traders have to invest just EUR 10.

The minimum bet size with this broker is $5 for 60 seconds and $25 for classic options, which is average for the industry. Of course, there are brokerages offering lower minimum bet sizes – with NenX one can place a trade with just EUR 1. Such low minimum bet sizes allow for better risk management.

BinaryOnline’s payout amount for standard binary options is up to 81% on EUR/USD, while returns for 60 second options are up to 70%. Returns up to 81% are on the lower end of average. In comparison, NenX offers high payouts, reaching 92%.

Trading Platform

BinaryOnline’s web trading platform has a standard interface and is easy to use. Mobile application is also available.

Apart from the standard trading options (such as Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs), there is Tradereplica option. This is a social trading feature, where successful traders are rated, and where other users can follow them and copy their trades.

In addition, BinaryOnline’s platform also has additional features to help traders make informed decisions. These include Trader choice, which allows you to get a glimpse of the direction trades have been placed by other traders, and Trendify, which enables users to effortlessly make use of the RSI, Moving Average and Boiling Bands.

Welcome bonus with this broker is up to 75% of the initial deposit, however, it is available to clients of BinaryOnline who deposit at least $10 000. Takeoff account holders get a welcome bonus of just 25% of their initial investment.

Methods of Payment

There are several payment methods available to BinaryOnline’ clients: wire transfer, and credit/debit card payments. The minimum withdrawal amount is $100.

Conclusion

BinaryOnline is a young binary options broker with rrather extensive product portfolio and nice website. However, it is not recommended, because it is not authorized to provide brokerage services. Besides, the payout amounts it offers are not the highest in the industry, while the einitial deposit it requires is not small. To sum up the above:

Pros Cons
Rather extensive product portfolio Not regulated
Nice website with rich educational resources Comparatively high initial deposit required
Payouts are not among the highest in the industry
Attractive bonuses available only to clients who deposit more money
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for BinaryOnline

Spread

Slippage

Requotes

Price feed

Platform

Deposit/Withdraw

Customer service

Summary

Binary Online (now Finarix.com) online is a conned trading website!!

Yes, Is confirmed this Binary Online had changed to Finarix.com to hide themself from being caught and block from the Authorities. Please stay away from their scamming tactics and I am a victim to it. Their trading website seems very impressive but, the BIGGEST scam is you can never withdraw your money back and their keep on convincing you to increase your deposits. PLEASE BE VERY AWARE NOT TO DEPOSIT YOUR MONEY INTO THIS CONNED WEBSITE.

Binaryonline.com is now Finarix.com and is still scamming people!

Please be aware Binaryonline.com is now Finarix.com and still operating unregulated and scamming people.
Withdrawals is a hassle and a haggle.
STAY AWAY!!
Dont get cheated.
Thank me later.

Biggest Sam

Binary online is the biggest. Scam.I invested a lot of money through a broker who advised me to rather invest with algo trader because trading manually,because I was losing money.

They then registered me an account.

The profit was then going well.And then the broker I was working there suddenly was gone. They then transferred a new broker. At first we had a problem language barrier. But yet I was asked to put more money in. I refused.when I asked for a with withdrawal they froze my account immediately and even the support team I couldn’t get an answer.yet every week algo trader still sends me updates every week.I did not get anywhere responders from anyone.

I lost 1000USD

Binary is 100% scammed, i lost 1000USD,
i no fear now to say this they are know how to cheat you, don’t ever put monies with binary option

recovery i never believed i could get my money back!!

The people working at Banc de Binary are the biggest scamster in binary options. I have learnt the hard way and lost all my savings. The best option is to learn and educate yourself. There is no easy way to make money, I was shocked when binaryoptionassetrecovery ,. Comm got my money back, to me it was a gamble that not everyone is this lucky.

Taken for every Penny

I lost ВЈ500 in only 25 minutes with their proposed investments . total scam AVOID AT ALL COSTS

Binary online is a scam. Don’t put your money to binary online you cannot withdraw your money.i have so many request of withdrawal but all declined.

Scamed

Stay Away from Binaryonline, its impossible to withdraw your money.

Account ID number 309671 i have twice tried to withdraw my money and it was
canceled by someone called Andy

Get your money back by cancel within your Credit Cards

I did sign up, traded twice guided by BinaryOnline and passed my concerns onto the support, the consequence – my access to the web portal and account has been suspended. The only way to get the money back – I cancelled my credit card and re-called the transaction. So – no financial loss but a warning for you,
KNOW WHAT You ARE DOING!

Scam – Impossible to withdraw

Impossible to withdraw any money!
Don’t accept any bonuses!
Stay away from them!

My personal experience is:

BINARYONLINE IS SCAM.

I have been scam for US3000

I think I have been scam for US3000 as they are now not acknowledging my request to withdraw my account. Before I deposit the money in, I would get phone calls at least 3 to 4 times a day and with a very hustle way to get to my credit card. After the deposit is done there are issues that the website was down, the manager was away on sick leaves, promise to call but never get to call me anymore. The chat customer services only become a pacifier to the irate client. But no follow up on their side. The customer success manager has been passing my case to three different people to handle yet all three has the same tone of voice and accent.

What can I do or we do to stop this or report this scam so no more people can be conned by this people. How?

binary online

Most certainly a scam, used the names of Richard Branson and Elon Musk in a Facebook link to attract investors, I got caught unfortunately, after registering the link to their Android app would not accept my password, they have now since removed this off playstore, I was struggling to trade and they called me asking me for my user password, this got me suspicious and requested a refund and now they are not responding, prior to this their calls asking me to invest more money were nothing short of harassment

BinaryOnline fraud

It seems to me that BinaryOnline has completed his program and has cursed all his naГЇve clients. Do you know something more? Can anybody help the deceived? Regards Zeljko

BinaryOnline clauses and poor service

Please add in this the clause, that if you deposit money and then realise, “not this is not legit (or for me. )

“The second clause of the Section 12 reads as follows:-Clients must imperatively place at least 5 transactions on the platform following their first deposit. Failure to do so will void any withdrawal requests”

or Jones
Support Agent
Good
Hector Jones
Hello. How may I help you?

Michael Wagner
10:02 am
HI Hector as per my mail. I have done the 5 trades now I want my my money back. I assume I am sure correctly that the trades that I lost were part of the matched bonus that binary online gave me when I signed up
10:03 am
please advise where the withdrawal form is
Hector Jones
For a convenient assistance, kindly provide us with your BinaryOnline account number or your registered first and last name, found on the top right hand-side of your account.

Michael Wagner
xxxxxx
You rated our customer service as bad.

Hector Jones
We will locate your account and get back to you in a moment.

Meanwhile, it is so unfortunate that you are wishing to withdraw as the Financial Market is really favorable at this point of time.

Other traders are as such collaborating actively with their Customer Success Managers and we would wish for you to walk on the sam path.

However, be advised that your Customer Success Manager will still be assisting you if you retain your decision.

Michael Wagner
yeah right! Read your emails. I have requested a call 5 times!
Just get me the form please
And again I expect the full $250 back as I was supposed to get $250 as a trading bonus
Hector Jones
Alright Michael. You will have to place a withdrawal request in your account then.

Please refer to this link to place a withdrawal request:

https://www.xxxxxxxx
Login into your BinaryOnline Trading AccountHere you can login into your BinaryOnline account safely & securely.

Michael Wagner
I have put in the request for the $250
i doesn’t seem to be doing anything
oh yes now its saying I don’t have 250!
what happened to my trading bonus. “Mr Wagner if you sign up with me right now we will also match your initial deposit”
Hector Jones
Yes sure, Micheal but it is only when your account is full that you will be able to start trading.

Michael Wagner
that makes no sense! It was full, I was trading! Did my five trades. Again what happened to my trading bonus??
Hector Jones
Actually, your Customer Success Manager is the one who assists customers on any bonus they might have been promised.

As such, once the latter gets in touch with you, you shall be assisted accordignly?

Michael Wagner
Oh you mean the one that I have 5 times to call me to no avail?? Is this some sort of joke?

I have written 3 emails with times and each time you have not phoned. Then at 10 am would be another option. Other than that perhaps it’s just better we leave it and I get my money back

Michael”
Hector Jones
We are only requesting for a best time from your side so that we can have you assisted.

Michael Wagner
You know what what the hell. I will post this email conversation on the net and you can keep your $16.5

Hector Jones
We believe that if you have an issue with BinaryOnline, it is better to resolve such internally.

Michael Wagner
Well then, make sure I get my full $250 back

Hector Jones
The latter has tried to contact you earlier but at times you were busy and sometimes you were unreachable.

Michael Wagner
Oh you mean when she first phoned on Christmas day, during lunch! Anyone I put in the withdrawal request. I have lost the $17 and been led of a wild goose chase. Thanks

Read
Hector Jones
Meanwhile, your Customer Success Manager might have also been busy arranging for the webinars or following some big events due to which she could not follow up on an appointment.

Best Binary Options Brokers in South Africa

Binary Options trading has rapidly gained popularity in South Africa and the rest of the world since its entrance in the financial market. There are only two possible outcomes of trading Binary Options, whether the price of the underlying asset will fall or rise. It has a fixed payout and expiry time that makes many people think that it is easier to trade binary options compared to other financial markets. In South Africa, trading Binary Options is not illegal and is thus growing in popularity day by day. This has also led to an increase in demand of the Binary Options brokers. However, Financial Services Board or FSB of South Africa does not yet regulate the Binary Options brokers. This also prohibits local South African companies to offer binary options trading. But, this does not mean that a person from South Africa cannot do binary options trading.

This leaves the traders confused to choose out a good binary options broker. When going by regulation the trader can choose a brokerage website that has been registered under CySEC, ASIC, or any European recognised licenses. The fight among the brokers to gain the top position keeps the competition alive.

Let’s look at the top three binary options brokers in South Africa.

Overview: Binary Broker Comparison Table

1 Your capital is at risk

Broker Website Regulation Min. Deposit Min Investment Max Return Demo
Visit Broker 1
IQ Option Review
CySEC and others 95% 2 Yes
Visit Broker 1
Spectre.ai Review
Costa Media Interactive SRL 83% Yes
Visit Broker 1
Binary Review
MGA and others $ 5 $ 5 100% Yes
Visit Broker 1
Binomo Review
CROFR $ 10 85% Yes

#1 IQ Option

Overview:

    Minimum Deposit: $10 Minimum Trade Amount: $1 Maximum Return: 95% 2 Tradable Assets: over 500 assets Regulated by: CySEC Demo Account: Yes

One major reason why traders choose IQ Options for trading binary options is that the brokerage website offers a deposit as low as $10 to access a live account. IQ Options believes in their own software and so does its clients. The brokerage company constantly updates the software that make it the No. 1 platform to trade in South Africa. The interface is highly intuitive and does not require the client to download any other software for trading.

The broker company offers as high as 80% bonuses to the South African traders on each deposit made by their clients. The binary option trader can choose to open a demo account first where the broker offers 13 trading assets to their clients. The platform when doing live trading has more than 500 underlying assets are available to the South African traders. If anyone chooses the VIP account, they have the chance of receiving up to 100% bonus on deposits. IQ Option Europe Ltd. is registered at Cyprus, and is regulated by CySEC. IQ Option Ltd. is registered at Seychelles.

IQ Option has set the minimum trade price at $1 such that everyone can participate and the maximum option price is set at $5000 so as to prevent the traders from investing blindly and losing too much. IQ Option claims to take no fees or costs for trading Binary Options. It completely depends on the trader to choose Call or Put or even invest at all. The pay-outpercentage offered by the Binary Options broker is based on the tradable asset and the market condition.

Note: Your capital is at risk

#2 Spectre.ai

Overview:

    Minimum deal size of only $1 Get started with less than $25 (0.10 ether) Free demo account available! Built-in economic calendar Min. expiry time: 10 seconds Max. payout percentage of up to 83% 24/7 support

Spectre or „speculative tokenized trading Exchange“ is an Ethereum blockchain powered broker-less trading platform, which is completely decentralized. With the aim of bringing binary options trading into the blockchain realm, Spectre.ai offers a smart option on a lot of different investment options. This includes currency pairs, commodities, and even certain cryptocurrencies or fiat currency pairs.

The Spectre.ai platform aims to fully utilize the potential of the Ethereum blockchain along with smart contract functionality to create a comprehensive and effective online trading platform. The team behind Spectre takes great care when it comes to security, as all the trades performed on the platform are governed and processed using a set of audited smart contracts. As a result, every single trade, outcome, and pay-out is predetermined by the aforementioned set of smart contract. This results in increased transparency in the platform’s execution. The decentralized nature of the platform enables it to offer traders a seamless and secure trading experience, without the possibility of interacting with third-party brokers.

Spectre’s decentralized nature means that the platform’s balance sheet is owned by the Spectre token holders themselves and is not in the hands of any single centralized entity. In return, token holders receive a dividend based on Spectre’s trading volume at that time.

Note: Your capital is at risk

#3 Binary.com

Overview:

    Minimum Deposit: 5$ Minimum Trade Amount: 5$ Max. Return: Up to 100% Tradable Assets: +100 Regulated by MGA and others Demo Account: YES

Binary.com has the experience of gaming websites other than online Binary Options trading. It is supervised by the Binary Investments Ltd. Like IQ Option, Binary.com has its own interactive Java(R) run charting software for the benefit of its clients. This translates to a large number of trading tools and several underlying assets to trade on. The minimum deposit as well as the minimum investment in Binary.com is a mere $5. The maximum deposit is however $100,000. The binary options broker offer bonus up to $150.

The pay-out percentage depends on the market situation and the underlying asset and can be as high as 100%. The time period of trading an underlying asset can range from 15 seconds to150 days (expiry time). The traders have the option to choose from different underlying assets like forex, stocks, commodities and indices.

On registering for the demo account on Binary.com, the traders will receive $10,000 virtual money. Besides this, the inexperienced South African traders can benefit from the educational section of the Binary.com website. They can join any webinar and interact with the market analysts and experienced traders/investors. One unique feature introduced by Binary.com is Asian & Digits that runs on the Random idea. The influence of the gaming industry can be directly seen from this as this feature allows the trader to calculate bets on the last digit of the expiry time instead of counting it on the pips.

Note: Your capital is at risk

#4 Binomo

Overview:

    Minimum Deposit: $10 Minimum Trade Amount: $1 Maximum Return: Up to 85% Tradable Assets: 80 Trading Platform: Proprietary Trading Software Regulated by: CROFR Demo Account: Yes

Binomo had started out in 2020 and is registered in Seychelles. Even though the binary options broker is awaiting CySEC license they have already received an FMRRC certificate. The minimum deposit at Binomo is $10 only and the minimum investment made by a trader is $1. The minimum deposit for gold account is $500 and for the VIP is $1000. Providing security to its clients is the key issue for Binomo and thus they rely on modern SSL security certificates. Binomo claims that the winning rate on their platform on an average is 85% and the stats can even reach up to 90%.

The demo account of Binomo offers $1000 of virtual money for the traders to gain experience and test a market situation. The expiry time for the options usually ranges from 15 seconds to 1 day on this platform. The payout percentage offered by Binomo ranges from 70 percent to 87 percent and it is based on the underlying asset, the account type (standard, gold or VIP) and the market situation. Other than the initial deposit bonuses, Binomo continues to offer promotional offers and organises games to make the Binary Options trading arena more interesting and competitive. The topping up of the bonuses can be as high as 85% as it depends on the funds transferred by the trader.

All the binary options brokers mentioned above provide demo account that is an essential feature. They offer comparatively low initial deposit such that anyone can open a live account on their platform easily. IQ Option, Binary.com and Binomohave developed own apps that enable their clients to do Binary Options trading from their smartphones (Android and iPhone) from any region. The customer support for the three Binary Options broker websites mentioned in this article is comprehensive and eager to help out their clients in every step.

Note: Your capital is at risk

2 Amount will be credited to account in case of successful investment

Binary.com Review

Basing their operation in Eastern Europe, these forex brokers started receiving forex traders in 2020. Under the management of Zola ltd, they aim at helping binary traders achieve results from trade.

Feel free to trade with binary.com and never worry about the security of your funds because these forex brokers use updated technology to encrypt and provide web security. Many countries do not regulate trading activities of binary options. The fact that binary.com is also not regulated by any regulatory body does not make it untrustworthy.

Features of Binary.com

Get on the Spot Option Gen 2 trading platform of binary online and experience various features in forex trading. Unlike other platforms which make traders wonder where to start, this platform offers you a navigational interface guiding you on the steps to follow if you are a beginner in forex trading.

You can easily customize your display of assets from here using different types of trades. Thanks to the incorporation of a strategy advisor used, you can speculate the direction of prices and make a quick decision that favors you preventing financial loss. In analyzing the market, you can use some technical indicators such as Bollinger Bands, Moving Average and RSI.

Trading tools such as a trade replica helps you learn by replicating trades of the gurus in the industries. From this, you are able to learn what trading strategies to use in forex trading. Trade replica lets you trade underlying assets such as sport forex and contract for differences.

There are so many option contracts that you can trade with binary.com namely:

  • pair options
  • long term options
  • ladder options
  • Builder options
  • Call/pull binaries

With these forex brokers, you can trade using different underlying assets such as 8 kinds of crypto currencies, forex pairs, more than 18 commodities as well as 40 market indices.

What types of accounts are available at binary.com?

This forex broker gives you three options of opening an account. You can either get a standard account, premium or takeoff account. Choosing any account here may give you slight differences for you to enjoy forex trading.

Take off account

Open this account with as low as $ 250 minimum deposit. As a newbie, binary.com welcomes you to the world of forex trading by giving you a 25% bonus. Every day on this account, you receive updates through email alerts and webinars to inform you on what is happening in financial markets.

Standard account

Being part of a great team in standard account exposes you to trading advisors that teach you on the dos and don’ts of forex trading. Keep abreast to any changes in the market with a standard account by receiving trading signals on any price fluctuations after every 2 weeks. Opening a standard account also earns you a 50% welcome bonus.

Premium account

If you are an experienced forex trader, deposit $ 10,000 and get a more advanced account known as a premium account. With a welcome bonus of 75%, you are motivated to trade. Education is in plenty due to the provision of webinars on this account.

Commission, leverage and spreads

What makes binary.com reliable? With these forex brokers, you are able to trade comfortably since you don’t pay any spreads or commissions when you make a trade. Successful trades earns you from 85% to 500% returns depending on the type of trade. It also does not involve leverage trading. This is advantageous in that you can lose more than what you put in.

How do you make deposits and withdrawals?

You can use different methods of payments in funding your trading account. In order to deposit money via a credit card, you need to first log in into your account, click my account, select deposit then follow the guidelines under the deposit section. You can also fund your account through depositing funds money via bank wire transfers. For this to work, get a fund transfer form from an account manager and process it through your bank.

Your trading account menu has a section named withdrawal. Click on it to start withdrawing funds from your account. You can now relax as you wait for binary.com to process your request and transfer money into your bank account or credit card.

Communicating with binary.com team has been made efficient with instant feedback 24 hours a day through email, phone calls and live charts

  • User friendly platform makes you not require any kind of training
  • Offers diversity in terms of giving you a wide range of assets to trade with
  • Trading here does not limit you to currency pairs like trading with other forex brokers.
  • Insufficient trading tools limits your trading options
  • Lack of demo accounts prevents you from practicing before venturing into a live account.

Despite the fact that these forex brokers have been in the business for a short while, they have managed to stand out due to supporting a functional trading platform in the trading industry. Joining this team gives you a sense of belonging by working with professionals who are keen on meeting your needs.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

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+++Top Broker 2020 SA+++

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose. For more infomation, read our disclaimer.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Broker!
    Perfect for beginners!
    Free Demo Account! Free Trading Education!

  • Binomo
    Binomo

    Only for experienced traders!

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