HBC Broker Review South Africa ¦ Binary Options Broker

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!

Contents

HBC Broker Review

The early history of HBC Broker begins in 1997, while big rebranding happened in 2020.

From then, this broker is known as binary options and forex broker for traders around the world. What we learned is that this broker accepts traders from South Africa.

HBC Broker is owned by the MPG INVEST Ltd in Edinburgh, Scotland.

HBC Broker stands for Honest Brokers Collaboration; a regulated binary options broker who wants to provide the best trading platform for traders in South Africa to use and maximize profit if possible.

For more about this binary broker and it available trading feature, read further our HBC Broker review and learn how South Africans can benefit from this broker.

HBC Broker General Info – South Africa

What we discovered in HBC Broker review is that required deposit is set to $250. Minimum investment is $10, while payouts range from 65% up to 81%. With this broker it is possible to trade with USD and EUR.

Alongside with traditional approach to binary trading, HBC Broker wants to provide their registered traders with an option to experience binary auto trading software.

For that reason, they teamed up with Binary Options Robot, one of the leading binary options automated software on global binary market.

HBC Broker Platform and Trading Features

This broker uses PandaTS software, one of the best in binary industry. They offer South African traders an innovative platform which is easy to use and adapted for both pro traders and beginners.

HBC Broker review revealed how with this broker it is possible to trade binaries by using following trade options: One Touch, High/Low, Hyper Options and Range Options. Accepted time frames for these trade options can be 30 s, 60 s, 2 min, 5 min, 10 min etc.

As a novelty on HBC Broker, traders in South Africa can use Follow Leaders; an option where it is possible to track best performing traders and copy their trades.

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!

With HBC Broker, traders are able to invest in a large selection of currencies (forex), stocks, commodities and indices.

As an inexperienced South African trader, option to train and test the platform on demo account is very important due to its advantages. To registered traders, HBC Broker offers risk free demo account, where traders place trades with virtual money and not real one.

So far according to HBC Broker review, demo is available on for forex trading.

However, traders can reach for customer support service and see are there any plans for connecting binary options trading with demo account. Overall, trading on demo is popular among many traders, especially beginners since it enables them to perform a selection of trading instruments and strategies under risk free conditions.

Another widespread trading tool discovered in HBC Broker review is mobile app. This app is connected both with Android and iOS operating systems and enable traders in South Africa to trade binary options from anywhere.

On HBC Broker mobile app, traders only have to login and can use mobile version of trading platform. App includes same features and tools just as web-based platform, such as real-time trading, a variety of underlying assets on disposal at no additional fees.

HBC Broker Account Types

Our HBC Broker review revealed us how this broker offers three trading accounts to registered traders. Each account type is equipped with specific trading tools and features, as well as different minimum deposit required.

HBC Broker Silver Account

  • Minimum deposit $1000 – $9999
  • Personal analyst on disposal
  • Binary options trading
  • Individual financial trading plan
  • Risk management support

HBC Broker Gold Account

  • Minimum deposit $10000 – $9999
  • Personal analyst on disposal
  • Both binary options and forex trading
  • Individual financial trading plan
  • Risk management support
  • Fixed spread 3 pips USD/EUR

HBC Broker Diamond Account

  • Minimum deposit $50000
  • Personal analyst on disposal
  • Both binary options and forex trading
  • Individual financial trading plan
  • Risk management support
  • Floating spreads
  • Quarterly trading plan
  • Fast withdrawals via Mastercard

HBC Broker Customer Support

As one of the most meaningful segments when trading binary options is by far, quality and responsive customer support service. This HBC Broker review showed us how traders in South Africa are able to directly reach this broker on phone number, email [email protected] and web contact form.

HBC Broker claims to have support service, which is available 24/5. So far, we haven’t noticed live chat option but we hope soon they will implement it since live chat is one of the fastest way how to contact a broker and get proper answer on needed question.

Education comes as one of the important ways how to become more experience and expand their trading knowledge. Under Education on HBC Broker platform, South Africans can learn more by choosing following edu materials: video tutorials, webinars, glossary and trading for beginners.

Also, if traders check How to Trade, they can see a list of valuable information regarding how to deposit and withdraw funds, details about trading accounts, mobile app and trade options features.

HBC Broker Banking Info

As seen from information provided by HBC Broker, they use SSL encryption technology to ensure high safety standards to registered binary options traders.

Also, KYC policy (Know Your Customer) is also available and requires several documents to be provided, including copy of ID card, credit card copy which is used in the trading process and proof of residence. Documents should be sent to email on [email protected] .

Accepted deposit methods on HBC Broker are:

  • Cards: Mastercard and Visa
  • Wire transfer
  • E wallets: WebMoney, Skrill Moneybookers and Neteller

For withdrawals, South African traders first need to submit a withdrawal request which might take up to 4 working days to be processed and approved. Minimum withdrawal amount for credit cards is $100.

However, for more details about withdrawals from this trading platform, we recommend to directly contact account manager and get needed banking information.

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 Options Brokers and Platforms – Reviews and Comparison

We have compared the best regulated binary options brokers and platforms in April 2020 and created this top list. Every broker and platform has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The sortable broker comparison list below shows which binary trading sites came out on top based on different criteria.

You can sort the list using payout (maximum returns), minimum deposit, bonus offers or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. Below the comparison list is some advice on how to pick the best trading platform for you, as this will often come down to your personal requirements and needs.

Top Brokers

Binary Options Brokers
Broker Regulated Min Deposit Payouts Bonus
Nadex Exchange $250 100% » Visit
RaceOption $250 90% 100% Deposit match bonus » Visit
BinaryCent $100 85% 100% Bonus on ANY 1st Deposit » Visit

How to Compare Brokers and Platforms

In order to trade binary options, you need to engage the services of a binary options broker. Here at binaryoptions.net we have provided a list with all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:

  1. What is the Minimum Deposit? (These range from $5 or $10 up to $250)
  2. Are they regulated or licensed, and with which regulator?
  3. Can I open a Demo Account?
  4. Is there a signals service, and is it free?
  5. Can I trade on my mobile phone and is there a mobile app?
  6. Is there a Bonus available for new trader accounts? What are the Terms and
    conditions ?
  7. Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
  8. Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices and stocks – and how many of each?
  9. Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of day, long term etc?)
  10. How much is the minimum trade size or amount?
  11. What types of options are available? (Touch, Ladder, Boundary, Pairs etc)
  12. Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
  13. Do they operate a Robot or offer automated trading software?
  14. What is the Customer Support like? Do they offer telephone, email and live chat support – and in which countries? Do they list direct contact details?
  15. Who has the best payouts or maximum returns? Check the markets you will trade.

We cover as many of these comparison factors as possible in our list above, but we go into much more depth within each review.

Regulated Binary Brokers

Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option.

Regulated Binary Options Brokers April 2020

Broker Regulator Instruments
Binary.com Malta GA BO, CFD
IQ Option CySEC BO, CFD, Crypto, Forex
BDSwiss CySec BO, CFD, Crypto, Forex
24Option CySEC BO, CFD, Crypto, Forex
Nadex Exchange CFTC BO, Forex
HighLow ASIC BO

Regulators

Leading regulatory bodies include:

  • CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
  • FCA – Financial Conduct Authority (UK)
  • CFTC – Commodity Futures Trading Commission (US)
  • FSB – Financial Services Board (South Africa)
  • ASIC – Australia Securities and Investment Commission

There are other regulators in addition to the above, and in some cases, brokers will be regulated by more than one organisation. This is becoming more common in Europe where binary options are coming under increased scrutiny. Reputable, premier brands will have regulation of some sort.

Regulation is there to protect traders, to ensure their money is correctly held and to give them a path to take in the event of a dispute. It should therefore be an important consideration when choosing a trading partner.

Bonuses

Both sign up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment or risk free trade . Whatever the form of bonus, there are terms and conditions that need to be read.

It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to ‘opt out’ of taking a bonus.

Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to ‘over trade’. If the bonus does not suit you, turn it down.

Demo Accounts

Binary options demo accounts are the best way to try both binary options trading, and specific brokers’ software and platforms – without needing to risk any money.

You can get demo accounts at more than one broker, try them out and only deposit real money at the one you find best. It can also be useful to have accounts at more than one broker. For example, payouts for two different assets might be best at different brokers. You can shop around, and use whichever account has the best payout for that asset.

Demo accounts offer the best way to try out a brand, risk free. Likewise if we recommend a brand, you can try it first, before risking anything.

Low Minimum Deposits

If you are looking to get involved with binary options for the first time, low minimum deposit requirements may be of interest. For traders just looking to try binary options, a low minimum deposit broker might be best. A small initial deposit keeps risks low. Minimum deposits start at just $5 and there are a growing number of brokers offering low minimum deposits – “low” would be any minimum under $50.

Likewise, all brokers will have a minimum trade requirement or trade amount too. These can vary greatly between platforms. Minimum trade figures range from $1 to $25 – which is a large difference if a trader plans to trade frequently. For some traders, this might be less of a factor in terms of finding the best broker for them, but for others it will be very important. Practice accounts are a zero risk way of learning to trade.

Payouts

One element many traders use to find the best binary options trading account, is the payout percentage on offer. This is not always a simple comparison however. Payouts will change based on the underlying asset being traded, and the expiry time of the option. In addition, payouts will change as the broker manages their own risk. So if one broker was originally the best price, things may then revert and mean that another now has the top payout.

So the most an investor can do, is to check the payouts for assets, and expiry times they are most likely to make, and judge which brand offers the best terms most often. Demo accounts are good when researching payouts on specific assets and trades.

Exchange traded and over the counter brokers will have different payouts – and they will not be easy to compare. In general, exchange traded options offer superior value. Nadex are one example of an exchange.

So as you can see, finding the best trading account and broker is not always easy – but it is worth noting that you are free to move between brokers whenever you like. So even if an account turns out to be poor, it is easy to up sticks and find a new trading firm. Likewise, a trader could have multiple accounts, and open trades at the broker with the best terms for that particular trade.

US Regulated Brokers

In the US, the Commodity Futures Trading Commission (CFTC) have only licensed two operators – Nadex and CBOE – to provide binary options trading to clients in the USA.

Brokers based in Europe will not generally accept US residents as clients, as doing so can result in large fines. Some off-shore providers will accept US citizens as their regulatory status permits them, but the CFTC may ultimately step in if they deem it necessary.

CFTC regulated brokers:

Nadex Exchange $250 100% » Visit

Which is the Best Binary Trading Platform?

Naming the best trading platform is not easy, simply because trading platforms and proprietary (bespoke) software are normally a question of personal taste. One user might like a simple layout, while others might need a lot of data on screen all the time.

However, platforms do have different levels of quality, both in terms of ease of use, and features. Broadly speaking, brands which offer Contracts for Difference (CFDs) in addition to binary options, deliver a more feature-rich trading platform or advanced software.

So the likes of Nadex and IQ, will deliver a very professional trading platform. MetaTrader integration is also normally provided at the more professional brokers (Some use both mt4 and mt5 functionality) . This difference in quality is evidence of the maturity of binary options as a product, but binary brands will catch up very quickly.

Intro To The IQ Option Platform

How do Brokers Make Money?

Binary options brokers make money via one of two business models:

  1. As a counter-party, ensuring an ‘over round’ via payout percentages. Known as ‘Over the counter’ (OTC)
  2. Via a spread or commission on an exchange traded model

People who have experience of other forms of trading, and are now approaching over-the-counter (OTC) brokers for the first time may find themselves asking the question: “Where is the commission?”.

With OTC binaries however, there is no commission. In theory, the term ‘brokers’, is not correct. Binary firms are not arranging a deal or acting as a middleman, or as a market maker; What they are, is the counter-party to each of their customers’ positions. So there is no fee or commission for the trade. Instead, each customer is essentially betting against the house. Where brokers have both sides of a trade covered, they have a handsome margin. Where they do not, the payout still gives them a level of protection. In certain circumstances, the broker will also hedge it’s own position to mitigate risk.

Those companies (Nadex, for instance) that trade binary options via an exchange operate much more like a ‘broker’. Unlike the OTC market where the platform is the counter party, with exchange traded options, the broker is the middleman – matching buyers with sellers and charging a commission. This charge is normally hidden within the spread, rather than an explicit cost. There is far less risk involved for the broker, and therefore generally better returns per trade for the trader. Brokers can be actively compared using the spread – the tighter the spread (difference between buy and sell prices) the cheaper it is to trade.

Brokers using the spread model often also offer leverage, or trading on ‘margin’ via their software. This increases the trade size for the trader – and profit for the platform.

Should You Use Multiple Brokers?

There are some very good arguments for having more than one binary trading account:

  • Brokers suit certain trades. Different brokers will suit different trading styles, or trade types. So one broker might be excellent for shorter term trade types, and have great payouts on forex pairs. But that same brand may be slightly less good when it comes to offering boundary trades or indices payouts. If a rival had a full set of long term expiries with great payouts, and lots of choice of boundary trades – it makes sense to have accounts with both platforms, and place trades with the broker that offered the best deal for each trade.
  • Demo accounts. Multiple demo accounts makes perfect sense – you want to try as many brokers and trading platforms as possible before deciding where to trade.
  • Reduce risk. Accounts at more than one broker protects you from any issues with a particular firm. From issues as serious as insolvency, to smaller things, like website downtime, software issues or a market being closed – multiple accounts reduces your risk of being affected by any hardship a broker might face.
  • Multiple offers. Each sign up can mean a new bonus, so it might be worthwhile taking up more than one account to receive all the offers. As ever, read the terms – and also note that on occasion, larger deposits might mean larger bonuses – so splitting them may not be the best choice.
  • Spread winnings. Some brokers may look for winning traders on their books, with a view to restricting their trading, perhaps limiting trade size – or worse. While this threat is thankfully small, multiple accounts means spreading the winnings out. Most brokers will search for “winners” based on total profit rather than strike rate, so hiding the volume across broker accounts can help you stay below their radar.

Exchange versus OTC (Over the Counter) Brokers

Exchange Brokers

A broker that offers an exchange is much closer to a traditional ‘broker’ than OTC brokers. An exchange performs the job of ‘middleman’. They will match a seller of an asset, with a buyer of the same asset, and charge a commission for putting the deal together. The market itself will decide the prices – if there are more sellers than buyers, the price will drift down until demand rises. If there are more buyers than those willing to sell, the option price will rise.

A broker operating an exchange does not mind who wins and who loses. They take no risk on the trade themselves (unless the traders are trading on credit). The broker will make their commission on the trade regardless of the outcome.

Due to this reduced risk for the broker, the returns for a winning trader are generally larger. Commissions are usually small relative to the size of the trade, meaning they do not impact the payout too much. Other benefits include the fact that stop losses can be applied, and also that trades can be closed at any time (to take a profit or reduce losses).

The complications with exchanges, comes from the structure. An exchange traded binary option will “trade” somewhere between 0 and 100. Where 0 is the figure used where an event did not occur, and 100 where it did. If the current price is currently 30, a ‘buyer’ would risk 30 times his trade size, to potentially win 70. A ‘seller’ therefore, would risk 70 to win 30. While not a complicated equation, it is slightly more complex than the straight forward over the counter option.

OTC (Over The Counter) Brokers

The most common type is the Over the counter (OTC) broker, but this type of firm is not really a ‘broker’ at all strictly speaking. They are the counter-party to one side of the trade. So where a trader opens a position, the broker will win or lose money, based on whether the trade wins or loses. Only where the broker has another trader who has made the exact opposite trade, will they have assured profits.

Due to this increased risk, the brokers will offer a lower payout which mitigates some of the risk they are taking. It is therefore likely to be lower than an exchange traded broker. Some firms will also have built in ‘hedging’ mechanisms to reduce risk further. In some cases, one side of trade might be made unavailable if liabilities get too large.

The simplicity of binary options is retained with OTC brokers. They have also made great strides in competing with exchanges by offering ‘cash out’ values for options, allowing traders to close positions early, and set up stop losses. Once those features become common the gap between OTC and exchanges will get smaller. For now, traders are better off trading on an exchange – but might be advised to learn the differences via demo account.

Have you had a problem with your broker? Submit a complaint

Payment Methods

Deposit and withdrawal options do vary at each brokerage. Each of our reviews will explain which each firm offer, but below is a list of the most common options.

If you are looking for brokers that support a specific payment method:

  • Neteller
  • Paypal
  • Skrill
  • Webmoney
  • Paysafecard
  • Ukash
  • Visa
  • Amex
  • Bitcoin
  • Wire Transfer
  • Credit cards / Debit cards

Read More

All of the factors covered above will ultimately affect the way a trader plays the market, and therefore, their profitability. The ideal situation is to get a binary broker that offers:

  • Several financial assets spread across several markets
  • Offers a reasonable bonus with a good payout approaching 90%
  • Offers flexible expiration dates without boxing traders into very long expirations.

Trading using a broker’s platform will only be enjoyable, and profitable, if you are using a reputable operator. You also need to choose one that suits your trading style best – only you will know what that is. Read the above binary broker reviews carefully before making that crucial trading decision, but remember you are not tied in to any single broker, and can pick and choose.

African Traders Guide

Binary options trading in South Africa has become an increasingly popular market in recent years as more and more investors seek to open online trading accounts. As awareness of this particular method experiences growth, so does the number of international brokers offering their services.

Binary trading is unregulated, and as such local South African companies are prohibited from offering their services to SA traders. However, through our extensive knowledge of the binary options industry and the rules and regulations that apply to trading we can still show you, great brokers, to trade with.

Our team of experts have searched the internet for the best brokers, and we bring you only those with international licenses that are legally allowed to offer their services to South Africans. Our knowledge of all the legal requirements means we can ensure that your trading career is a safe and profitable one.

In this article, you will learn:

    The brokers best suited to your needs What local payment methods are accepted Taxes and fees that apply to ZA residents

Traders in South Africa

Like we found in Indonesia about the law on binary options, trading in South Africa is perfectly legal. There is nothing that prohibits an individual from trading online. The industry is however unregulated which means that there is no protection offered to those who choose to trade here. It also prevents good South African companies from brokering. So how do you select a company and what should you be looking for in features?

Licensing And Regulation

As there are no regulated South African brokers, you are going to need to find an offshore broker. CySEC, FCA or MiFID license many European brokers. Australia also has good brokers, look for an ASIC license. There are many to choose from, and it’s just a case of picking the right one for you.

Deals And Incentives

If you are new to trading, then you should probably look for a broker that offers a no deposit bonus. No deposit bonuses allow you to try before you buy. You should also take advantage of matched deposit bonuses, and trading contests so look out for them.

Mobile Trading Tools

Most people prefer to trade on the go therefore it is important to check out what mobile offering the broker has. Do they offer a mobile app that is suitable for the device you are using and is it available for both iOS and Android? If you are keen to trade on the go then this is critical.

Free Demo Account

A demo account is vital for many reasons. Firstly, it allows you to get familiar with the platform that you are going to be using. In addition to this, if you are using a reloadable demo, you can use it to try new assets and trade types.

The only way to legally invest and trade in binary options, in South Africa, is to use an off-shore broker. Finding one that has all the above benefits plus anything else that is important to you as an individual is difficult. That is where we come in. We display to you, only the best, most reputable brokers to ensure that your experience is a good one.

Trader Broker Asset Profit

Broker Fees And Tax

When looking at the tax requirements surrounding binary trading, South Africa is much like any other country. If you are an individual, then you will no doubt be paying Personal Income Tax. You could be paying anything from 18% for income below R160,000 up to 40% for anything over R617,000. Local tax applies to profits made on any income, and this includes binary options trading.

If trading is a second income, you will need to declare your income and ensure that you pay the correct tax on this amount. Remember to deduct any losses and work out your net profit so that you don’t pay too much tax.

Now while binary options brokers aren’t responsible for informing the South Africa tax department that you have made an income from trading, they will have a record of your transactions within your account. Make sure that you have access to this information as you will need it when calculating your total profit for a certain period. We recommend keeping a monthly record of deposits and withdrawals and recording all profits and loss.

While African taxes are the main cost that you will incur there may also be other fees to consider. These fees include:

    Currency conversion fees for converting to and from the currency you will be trading in Deposit fees usually associated with certain types of transactions. Your account provider can charge these fees Transaction fees from your credit card or e-wallet provider Withdrawal fees from the broker for making each withdrawal

If you are making lots of deposits and withdrawals, the money will soon mount up. Consider making fewer, more substantial deposits and withdrawals to try and cut down on the number of fees charged.

South African Licencing

Now while there are no legal issues that restrict South African citizens from trading, there is, unfortunately, a lack of brokers local to the country. It is not a regulated industry; therefore there are no legal or licensed South African binary options brokers.

There are however plenty of good brokers offshore that have the relevant licenses and regulations. The ones to watch out for are those that are licensed by CySEC or other European recognised licenses. Genuine brokers are more likely to be licenced in Europe, so look out for the brokers that display this licencing.

Do not use a broker that doesn’t have a license. There is a reason that they don’t have one, they either can’t get one, or they aren’t a serious broker doing things the right way. Why would you invest money with them if they haven’t gone to the trouble of getting licensed?

Also, make sure that any licenses are genuine. We have gone to the trouble of doing this with all of the companies that we review and recommend so you will be pleased to know that we only recommend genuine, trustworthy brokers that have a good reputation and history.

Our knowledge of all the legal requirements means we can ensure that your trading career is safe.

How we Recommend Brokers

There isn’t a choice of trading with a local broker for South African traders so if you wish to trade it is going to have to be with an offshore broker. Now, this may seem daunting and perhaps a little risky, but there are genuine SA brokers that offer an excellent service with proper incentives. Our job is to make your experience a more beneficial one by reviewing and rating South African brokers across the market.

Like all of our broker ratings and our best binary options reviews, we take into account every aspect of trading and what each broker has to offer. Firstly we look at their licensing and eligibility to trade. We only bring you brokers that have the correct licensing and operate within regulations and legislation. We want your trading experience to be profitable and without issue. We also examine the logistics of each broker.

Some of the critical areas include how easy it is to open an account, how easy it is to navigate the trading platform and whether the mobile website and app are user-friendly. We also examine what benefits each broker has to offer. Do they provide good bonuses, a good payout and what other rewards are available? For VIP / Premium traders we look at the higher end accounts and what they have to offer and how they compare to other offerings available.

We review brokers all over the world, and when it comes down to it, South Africa steps up pretty good. Our reviews focus on the options market are based on our extensive knowledge and experience of it. Our team of experts have many years of trading experience between them and know what matters. Our commitment is to only bring you the best South African binary options brokers on offer.

Frequently Asked Questions

Is binary trading in South Africa legal and safe?

South Africa has tax laws and regulations, and it is crucial to abide by these rules and regulations to avoid hefty fines. Earnings from binary options trading need to be declared.

Do I need to pay fees and taxes on my profits?

South Africa has tax laws and regulations and it is important to abide by these rules and regulations to avoid large fines. Earnings from binary options trading need to be declared.

Can I test brokers before trading with real money?

Brokers will offer lots of incentives to stay competitive. These usually include a demo account to allow new traders to trade on the platform without depositing any of their funds.

Is it easy to make deposits and withdrawals?

Making deposits and withdrawals is easy. Just open an account and make your deposit. Withdrawals can take up to 3-5 days; some brokers offer a much quicker turnaround for those higher stakes traders.

Can I trade using my mobile or tablet device?

Yes, to stay competitive all brokers must have either a responsive, easy to use mobile version of their website or an app available for either Android and iOS.

Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.

The Best Binary Option Trading Platforms and Brokers of 2020

​Looking for the best binary option broker, but not sure where to start? With so many different brokers to choose from, finding the right one can feel like a difficult task.

Finding the best broker often comes down to what factors are most important to you. Are you looking for the highest payouts, the lowest minimum deposits, the most attractive bonuses, or perhaps the best trading platform? No matter what appeals to you most, I got you covered.

Over the years, I’ve reviewed and tested 17 different binary options brokers. I’ve evaluated each company on a variety of factors including trading platform, payouts, deposit methods, customer service, country restrictions, regulation, mobile apps, and more.

​Below you will find my top 10 list of brokers, a side-by-side comparison chart, and a review of each company. Ready? Let’s get started!

Table of Contents

​​​​The 10 ​​Best Binary ​Options Brokers of 2020

  1. IQ Option – Best ​Trading Platform
  2. ExpertOption – Best Payouts
  3. Olymp Trade – ​Lowest ​Minimum Deposit
  4. Binary.com – Best For Beginners
  5. Pocket Option – Best For U.S. Traders
  6. BinaryCent – Best For Minimum ​​Trade Amounts
  7. RaceOption – Best Bonuses
  8. Binomo – Best For​ VIP Traders
  9. 24Option – Best ​CFD Trading
  10. Finmax – Best ​Customer Service

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​Review of the Top Binary Option Sites and Companies

1) IQ Option

​​​IQ Option is a broker that is based in Cyprus and regulated by the CySEC (Cyprus Securities and Exchange Commission). Since 2020, IQ Option has been one of the most successful online trading platforms with over 43 million registered users, over 1 million trades per day, and clients from over 213 countries.

IQ Option has the best trading platform of all the brokers I’ve reviewed. They have over 250+ ​assets to trade including binary options, digital options, as well as CFDs on stocks, crypto, commodities, and ETFs. Their binary options pay up to 95% on successful trades, while their digital options offer return rates up to 900%

The IQ Option platform is available on the Web or through one of their trading apps (Android, iOS, Mac, and Windows). Free demo accounts are available with $10,000 in virtual money to practice with. Their platform comes with everything you’d want and expect including multi-chart layouts, financial indicators, technical analysis, and real-time alerts. They also have several risk management features including Stop Loss, Take Profit, Negative Balance Protection, and Trailing Stop.

If you’re looking for the best binary trading platform, IQ Option should be near the top of your list.

  • Minimum Deposit: $10
  • Max Payout: 9​5%
  • Min. Trade: $1

​Note: This broker does not accept clients from the United States, Canada, European Economic Area, Japan, Israel, Australia, and Puerto Rico.

​2) ExpertOption​

​ExpertOption is a trusted broker that has been around since 2020, offering binary options on over 100+ ​assets including stocks, cryptocurrency, forex, and commodities. ExpertOption is located in Saint Vincent and the Grenadines and is regulated by the VFSC (Vanuatu Financial Services Commission) and FMRRC (Financial Market Relations Regulation Center). This broker serves clients from over 150 countries and has over 32,000,000 registered ​users on their platform.

ExpertOption offers some of the best payouts on the market, with profits as high as 95%. Their platform is very easy to use for beginners and also has some features that even advanced traders will appreciate such as 4 different chart types, 8 indicators, and trend lines. ExpertOption also offers Social Trading, which allows you to trade binary options with your friends or follow other VIP traders and see their active trades in real-time.

ExpertOption offers over 20 different payment methods including E-Wallets, credit cards, cryptocurrency, and bank transfer. This binary broker also offers a free demo ​without registration. Overall, if you’re looking for a great payouts and a solid trading platform, ExpertOption is an option worth considering.

  • Min​. Deposit: $10
  • Min. Trade: $1
  • Max ​Profit: 95%
  • Bonuses: 100% Welcome Bonus

Note: This broker does not accept clients from the USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Puerto Rico, Singapore, Bangladesh, Vanuatu, Yemen, and Sudan.

​​3) Olymp Trade

​Olymp Trade is a ​Cyprus-based broker that is regulated by the International Financial Commission. This license ensures that traders are supported by deposit insurance, comprehensive support, and a prompt resolution of all issues. Olymp Trade has been a part of the options market since 2020 and has consistently improved their platform over the years. As of 2020, there are over 25,000 users trading ​with Olymp Trade ​every day.

Like most of the top brokers, Olymp Trade has a web-based platform and apps available for iPhone and Android. They have over ​75 different ​underlying assets that you can trade with. Demo accounts are available if you’d like to test-drive the Olymp Trade platform. This broker has a variety of educational resources available to their clients including trading strategies, webinars, and more.

​Note: Olymp Trade does not accept clients from European Economic Area, Australia, Canada, USA, Japan, Israel, New Zealand, Russia, Spain, Sweden, and Switzerland.

​4) ​Binary.com

​Binary.com is an online trading platform that offers binary options and CFD trading. Owned by a company called Binary Group LTD and founded in 1999, this broker is one of the oldest and most respected names in the binary options trading industry with over 1 million registered users worldwide.. Binary.com has offices in ​Channel Islands, Malta, Saint Vincent and the Grenadines, Malaysia, British Virgin Islands, and Vanuatu. ​ Binary.com is regulated ​by ​Vanuatu Financial Services Commission​, British Virgin Islands Financial Services Commission, Malta Financial Services Authority, and Labuan Financial Services Authority.

Binary.com has several different trading platforms that you can use including:

  • Deriv – A perfect solution for beginners with an easy-to-use platform that is rich with features.
  • SmartTrader – Trade in the world’s financial markets with a simple and user-friendly online platform.
  • Tick Trade Android App – Ultra fast trading on-the-go.
  • MetaTrader 5 – An advanced multi-asset trading software that includes Forex, CFDs, and binary options.
  • Binary WebTrader – An advanced binary options trading interface to monitor the movements of your favorite markets at the same time.
  • Binary Bot – Automate your own trading strategies with a simple “drag and drop” bot creation tool.

​Binary.com has attractive return rates that can exceed 100% on simple rise/fall contracts and above 1000% on high/low and touch/no-touch trades. You have the option of trading all major indices, commodities, currencies, and synthetic indices with expiry times ranging from 10 seconds to 365 days. Binary.com gives you the ability to sell your contract before the expiry time is reached to lock-in your profit or to minimize your loss. With their simple interface, you can execute a whole trade in just a matter of seconds.

Binary.com provides a variety of payment methods to fund your account including Visa, Mastercard, bank transfer, Skrill, Maestro, Neteller, Fasapay, QIWI, and many more. To ensure trader safety, all capital deposited goes into a segregated bank account and held in a secure financial institution.

​Although Binary.com is a perfect choice for beginners, their advanced platforms ha​ve enough features to satisfy even the most advanced traders.

Note: Binary.com does not accept customers from the USA​, Canada, and Hong Kong.

​​5) ​​​Pocket Option

​Pocket Option is a binary options brokerage that provides online trading of more than 100 different underlying assets. Pocket Option is one of the only sites that accept new traders from the United States and Europe. Established in 2020, Pocket Option is based in the Marshall Islands and is licensed by the IFMRRC (International Financial Market Relations Regulation Center).

Pocket Option has great terms and conditions for its traders including no commission on deposits and withdrawals, over 50+ payment methods, indicators and signals, social trading, bonuses, high returns, and more. Pocket Option provides bonuses of up to 100% when you open an account, which is among the best in the industry.

If you’re looking for a binary broker that caters to customers around the world, including USA and Europe, then Pocket Option is one of the best options available.

  • Maximum Profit: 128%
  • Min. Deposit: $50
  • Min. Trade: $1

​​6) ​​​​Bin​aryCent

​BinaryCent is a binary option site that offers Forex trading, CFDs, and options with payouts up to 95%. BinaryCent was established in 2020 and is owned by a company called Cent Project LTD, which is a subsidairy of the Finance Group Corp. This company is located in Vanuatu and accepts international traders including the United States, Canada, Australia, and the UK. BinaryCent is regulated by the VFSC (Vanuatu Financial Services Commission).

The biggest advantages of using BinaryCent include minimum trades of just 10 cents, leverage up to 1:100, and copy trading. Copy trading allows you to follow the most successful traders on the platform and to see their live trades in real-time. By copying other profitable users, you can increase your chances of success.

  • Minimum Deposit: $250
  • Minimum Trade: $0.10
  • Bonus: 20-100% Deposit Match
  • Withdrawal Processing: 1 Hour
  • USA Friendly: Yes

​​​7) ​​​​​RaceOption

RaceOption ​is a binary options broker that is based in the UK and established in 2020. RaceOption processes more than 10,000 trades per day and is one of the only companies that allow clients from the United States, Canada, and Australia. RaceOption has no restrictions on what country you’re located in.

The biggest selling points to RaceOption are 1-hour withdrawals, deposit bonuses up to 100%, and weekend trading. This trading platform is available in three versions: Web, Android, and iPhone. They offer CFD trading, 60 seconds, one touch, live charts, and instant execution of trades.

Overall, RaceOption is a reliable broker that offers attractive payouts up to 90% and a variety of funding options including credit card and cryptocurrencies such as Ethereum and Bitcoin. This platform is best suited for beginners that are ​looking for a simple interface that is easy to understand.

  • Minimum Deposit: $250
  • Payouts: 90% Max
  • Bonus: 20-100% Deposit Match
  • USA Friendly: Yes

​​8) ​​​​Binomo

​​Binomo is a binary options broker with a high-end trading platform with the ability to trade binary options, CFDs, Forex, and cryptocurrency. Binomo is based out of St. Vincent and the Grenadines and they are regulated by the IFC (International Finance Commission). Since Binomo is a Category A member of the IFC, they have deposit insurance of up to $20,000 for all clients.

Binomo doesn’t offer as many ​assets to trade ​compared to other brokers. Their standard account has 14 available ​markets to trade with up to 85% max payouts, while their VIP level offers 42 available ​markets with a max payout of up to 94%. VIPs also have extra perks such as 10% weekly cash back, deposit bonuses up to 100%, 1 hour withdrawals, and a personal account manager.

Overall, Binomo is a good binary trading platform but has limited assets compared to other brokers. Binomo does offer a demo ​with $1,000 in virtual funds if you want to give their platform a try.

  • Minimum Deposit: $10
  • Minimum Trade: $1
  • Payouts: 94% Max
  • USA Friendly: No

​9) ​​24Option

​24Option is a broker that is based out of Cyprus and regulated by the CySEC. When 24Option was established in 2020, they were primarly just a binary option platform. However, the company has shifted its focus to offering Forex and CFDs. 24Option has a large ​asset index that includes currency pairs, ​stocks, crypto, ETFs, and indices.

Advanced traders will be happy to know that 24Option has the MetaTrader4 platform, which is very popular for its charting functionality and financial analysis tools. MT4 offers immediate order execution and accurate pricing in real-time. 24Option has an extensive education library with daily market reports, fundamental analysis, webinars, eBooks, and trading guides.

24Option has 4 different account types which includes Basic, Gold, Platinum, and VIP. All account types get leverage up to 1:500. The basic ​level comes with floating spreads as low as 2.5 PIPS for EUR/USD and as low as 1.1 PIPS for VIP accounts. Platform also includes Stop Loss and Take Profit features to help minimize losses and maximize returns.

Overall, 24Option is a good broker if you’re looking for an advanced trading platform with CFD and Forex trading. This broker does not accept clients from United States, Europe​, Canada, Australia, China, Israel, Switzerland, Japan, New Zealand, Bahamas, Pakistan, North Korea.

  • Minimum Deposit: $250
  • Minimum Trade: $24

​10) ​​​​​​FinMax

​Finmax is a regulated binary options broker owned and operated by a company called Max Capital LTD. Located in Bulgaria and opened in 2020, Finmax is licensed and regulated by the FMRRC (Financial Market Relations Regulation Center) – a Russian regulatory body.

Finmax has an asset index of over 70 markets, as well as a favorable trading conditions such as instant order execution, no spreads, ​a free demo ​without limits, and 48 hour withdrawals. The Finmax trading software has a variety of expiry times, ranging from 30 seconds to 6 months. Finmax has several different platforms you can trade CFD or binary options with including Android, iOS, and Windows.

Finmax is one of the few brokers in the industry that have developed their own software for trading binary options, rather than relying on third party platforms such as SpotOption or TechFinancials. Their customer support team is very helpful and they provide 24/7 help via phone, email, or chat.

  • Min. Investment Amount: $5
  • Max Returns: 90%
  • Min. Deposit: $250

​1​1) ​​​​​​​Ayrex

​Established in 2020 and based out of Cyprus, Ayrex is ​one of the few unregulated brokers that exist in the industry. Ayrex offers binary option contracts on over 30 different underlying assets. Ayrex is an unregulated broker, but they’ve already applied for licensing from the CySEC (Cyprus Securities and Exchange Commission), which has yet been granted.

Ayrex specializes in short-term contracts with an expiry time​ as little as 30 seconds. Investors can expect maximum profits up to 85% on successful binary options trades. Ayrex does offer trading signals, which they claim have a 60% success rate. Their customer support team is also very helpful as well.

Overall, Ayrex might be suitable for some investors, but their ​small asset selection and lack of regulation should make traders hesitant. If you do decide to use Ayrex, make sure to take advantage of their free trading account so that you can practice trading binary options before depositing real money.

  • Maximum Profits: 85%
  • Minimum Investment: $5
  • Minimum Deposit: $25

​1​​2) ​​​​​​​​Nadex

​Nadex is a United States based binary options exchange located in Chicago, Illinois. Nadex is the only regulated broker that is licensed in the USA by the CFTC (Commodity Futures Trading Commission). Nadex offers trading platforms that allow you to take positions on short-term price movements in a variety of markets. You can choose between binary options, touch bracket, and call spread contracts. Due to regulatory rules set forth by the CFTC, the money you deposit must be held in segregated bank accounts to ensure your funds are safe and secure.

The Nadex Trader Platform lets you place orders directly to the exchange using their proprietary software. You can filter over 5,000 contracts daily by asset class, expiry time, and price. For binary options, Nadex charges a $1 trading fee per contract on each side of the trade, the entry and the exit.
In addition, Nadex charges a $1 settlement fee per contract for trades that expire “in the money”. However, there is no settlement fee if your binary options trade expires “outside the money”.

If you want to test-drive the Nadex platform, you can open a demo trading account with $25,000 in virtual money to practice with. For real accounts, the deposit requirement is $250 USD.

​Things To Consider When Choosing A Binary ​Trading Platform

​When you’re choosing a binary ​broker, you should consider certain factors before you commit. Each of these components affects your trading experience. Identify the ones that are most important to you, and find a broker who offers those features, before you sign up.

Mobile Trading Apps

​When it comes to binary options trading, it is essential that you have access to the markets from your smartphone or tablet. Most brokers offer free mobile apps that allow you to ​access the markets and execute trades from anywhere. Most binary options websites have information regarding their trading apps and which devices t​heir platform is compatible with​, such as Android or iPhone.

Asset​ Index

When choosing the best binary options provider, make sure to take into consideration which assets are available to trade. Most brokers list their asset index on their websites for everyone to see. The bigger their list of assets, the more opportunities you have to make a profit.

Most binary options brokers have at least 30-70 different markets that you can trade including Forex, commodities, stocks, and indices. However, some of the bigger brokers such as IQ Option and ExpertOption also have ETFs, CFDs, and Cryptocurrency as well.​

​Regulated Brokers

​Regulation and licensing is a key factor that you must consider before choosing the best binary options company to work with. Regulated brokers must follow certain requirements that help protect binary options traders in the event of a dispute. In additional, regulation ensures client funds are held securely in segregated bank accounts.

Although unregulated brokers have more risk associated with them, they do have some advantages such as the ability to offer sign-up bonuses to attract new traders. If binary options are prohibited in your region, such as Europe or India, using an offshore broker might be the only way to gain access to the binary options market.

The primary regulatory agencies include:

  • CySEC – The Cyprus Securities and Exchange Commission (Cyprus)
  • FSB – Financial Services Board (South Africa)
  • CFTC – Commodities Futures Trading Commissions (United States)
  • FCA – Financial Conduct Authority (UK)
  • ASIC – Australia Securities and Investment Commission

​Low Minimum Deposits

​If you’re just getting started with binary options trading, it may be a good idea to choose a binary option broker with a low minimum deposit. Some brokers allow you to open trading accounts with as little as $10, which is a great way to get started without risking a lot of money. Another thing to keep in mind is the minimum trade amount​, which can vary between platforms. BinaryCent currently has the smallest investment amount for individual trades, at just $0.10 per contract.

High Payouts

The higher the ​returns, the better. That’s the whole purpose of binary options trading, after all. Most ​brokers offer payouts between 50% and 100% when trading binary options. However, you’ll sometimes find one that says you can get up to 200% for a successful trade.

Before you sign up with a broker and invest your funds, know what you’ll be getting back for each successful trade. You don’t want to invest a lot of money and only get a little—or worse, none—back.

Binary Option Bonuses

​A binary options bonus is a way for some brokers to attract new customers. ​A bonus can come in several different forms including deposit match bonuses, sign-up bonuses, or risk-free trades. For deposit match promotions, most brokers provide match anywhere from 20-100% of your initial investment. ​​There are certain terms and conditions that have to be met before you can withdraw this money. For example, you can’t just sign up and then immediately withdraw your bonus funds. ​However, it’s still a great way to mitigate your risk and increase your profits.

Demo Accounts

​Binary option demo accounts allow you to explore the broker’s platform. You get a certain amount of virtual funds to use as you navigate the platform and learn how to predict the market.

You should also know how realistic the demo account is when compared to a live account. Demo accounts may not prepare you for the fast-paced, unpredictable nature of the real markets.

If a broker doesn’t offer a ​free demo, you may want to steer clear of them.

Social Trading

Social trading is even more helpful in learning the market than a demo account or educational materials. With social trading, you can observe VIP traders or friends as they trade assets.

Social trading can help you improve your technique by watching someone more experienced. If you emulate their methods and predictions, you have a higher chance of learning by example and improving your ​profits.

Binary Trading Signals

Not all brokers have binary trading signals or alerts, but they can be immensely helpful, especially for newer traders. These signals indicate the direction of a given market, giving you hints for getting an optimal payout.

Advanced brokers may not need binary trading signals, but beginners can benefit from them. Traders just starting out should look for a broker that offers this feature.

Final Thoughts

Choosing a binary options broker isn’t as simple as it may seem. It involves several crucial factors, and each broker offers something different. The ​top binary ​brokers go beyond the basics, so make sure you research your broker before you make your initial deposit.

Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.

Welcome To Our Site!

My name is Robert Wolfe and I’m an online trader with over 7 years of experience trading financial instruments such as binary options, CFDs, forex, and stocks. I created this website to share my knowledge of the industry so you can avoid the same mistakes I’ve made.

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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How To Choose Binary Options Broker
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