OX Markets Broker Review ¦Safe Binary Options Trading South Africa

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Contents

Ox Markets Broker Review

Hi traders. This binary options broker is one that is now truly fulfilling its potential, having established itself in the market in 2020. Here, we turn the spotlight on Ox Markets, a binary broker whose platform is fully dedicated to the binary options field. Read on to discover everything you need to know about Ox Markets binary broker, along with information that should give you enough insight to determine whether or not to join their binary trading environment.

Review Overview

Bonus – 81%
Software – 100%
Customer Support – 93%
Options choice – 46%
Regulation – 54%

Ox Markets – what binary options does this broker provide to its audience?

The most important question every trader would ask, when heading to a completely new binary broker to gain some more experience is about the availability of the most popular binary options. Hopefully, Ox Markets is a broker that offers a big variety of binary options. Here they are:

  • Ladder binary options
  • Call and put binary options
  • Pairs binary options
  • Short term binary options – including 60-seconds binary options
  • Long-term binary options

Users of the Ox Markets broker system can trade in a variety of different trading assets – including foreign currency pairs, stocks, indices and commodities.

Ox Markets – history and regulation

Safety features are not a concern when it comes to Ox Markets. This binary broker has been fully supported by the EU and its national regulator. The broker was established in Cyprus, which means that its main regulation agency is CySEC. It can help you in case of a fraud, as well as having both your money and your personal data stored in a safe place. It is also important to know that besides the comparatively short lifespan that this trading platform has – it debuted back in 2020 – the broker is widely known to be is 100% reputable and reliable. Its main operator, Ox Capital Markets Ltd, is a large investment company with good potential to become a leader in financial trading services in Cyprus.

Ox Markets – trading platform information

Ox Markets uses Spot Option which is also the platform that powers 24Option. There is no download required so you can make it as your personal web extension on your favorite browser. Also, if you are a fan of mobile trading, you can benefit from the mobile version of the website. Furthermore, there are also free of charge apps that can be downloaded for an alternative mobile experience.

Ox Markets – additional trading information

Please note that Ox Markets offers an 88% payout ratio. In addition to this, the broker offers a whole new level of learning in binary trading field. You can test the brilliant learning center – with tutorials, tips for beginners, eBooks, as well as videos for getting some good sense of how different binary trading strategies work. The available currencies you can use to manage your account are the standard: USD, GBP, EUR and JPY. Choose what suits and get some extra outcome from binary trading. Last, but not least, know that Ox Markets is available for traders from the entire world except for the following countries – US, Japan, Iran, Israel, Cyprus, Belgium, Turkey and France.

Ox Markets – payment methods

Payment methods are suitable for both – withdrawals and deposits. The minimum deposit requirement here is $ 250 and there are no limits about the maximum amount a trader could deposit in his official account. And these are the only payment methods you can use on Ox Markets:

  • Bank wire transfer
  • Different debit and credit types

Ox Markets – special bonuses and promotions

There are quite interesting special offers at Ox Markets website. It’s well worth taking advantage these:

  • Demo account is suitable for beginners in the field, and who need more experience in binary trading. You do not lose or win anything with it, but you can practice binaries and test the system for free and for a special trial, when you officially register on the page.
  • 100% first deposit bonus – double your firstly made deposit and have more money to make binary trades with.
  • Risk-free trading bonus allows you to minimize the risk with your first two trades. They should be $ 25 each and you must make a first deposit before checking out how this bonus type works.

Ox Markets Customer support services

Ox Markets customer support center allows you to make a call, get an instant response via their web chat system, as well as to send an e-mail in case of a question or a problem you have on the website. There are many foreign languages that are offered at Ox Markets: English, Japanese, Russian, German, Spanish, Turkish and many others. Last, but not least, the Ox Markets customer support center is available for you 24/7.

There are many reasons why you should try Ox Markets – it is new and fresh, trustworthy and really intriguing with its awesome system of bonuses and really reputable trading platforms. Alongside the learning center and the mobile options, this website is a potential new binary broker you can learn to love. We’re always interested in trader feedback, so drop us a line to let us know what you think of Ox Markets.

IQ Option Review

​IQ Option is an online trading platform that allows you to trade a variety of financial instruments including binary options, stocks, forex, ETFs, commodities, and cryptocurrency.

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This broker was founded in 2020 and is operated by IQ Option LTD. IQ Option has rapidly become one of the most popular trading platforms for traders across the world with over 48,000,000 registered users and over 1,000,000 transactions per day. IQ Option accepts traders from over 213 countries including India, Nigeria, South Africa, The Philippines, Malaysia, Pakistan, Singapore, and many more.

IQ Option is based in Cyprus and regulated by the CySEC (Cyprus Securities and Exchange Commission).

In this IQ Option review, I’ll tell you everything you need to know about this broker to help you decide whether or not this company is right for you.

​​​​​​Custom-built Proprietary Platform

​iOS, Android, ​Windows, and MacOS

ETFs, Digital Options, Binary Options, Forex, Cryptocurrency, Commodities, Stocks

​Countries Not Accepted:

​United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia, Canada, Germany, Italy, Netherlands, Romania, Spain.

​Credit Cards, Debit Cards, ​Maestro, Skrill, WebMoney, Cash U, Neteller, and Moneybookers

​Processed Within 1 Business Day.

Table of Contents

IQ Option Trading Platform

Unlike other brokers that use a standard trading platform, IQ Option has a proprietary custom-built platform to cater to the needs of its users. The platform is very easy to use and is well-designed. It has many useful features including multi-chart layouts, technical analysis, historical quotes, volatility alerts, market updates, stock screeners, economic calendars, and more. It’s also available in 13 different languages.

​Within the IQOption trading platform, you can trade a variety of assets and financial instruments including stocks, digital options, binary options, forex, crypocurrencies, ETFs, and commodities. However, it should be noted that binary options are prohibited in the EEA.

​In the image below, you can see that the chart is in the middle. The Buy and Sell boxes are on the right-side. Your account balance and the asset you’re trading is located at the top of the screen.

​On the left-side of the platform, you’ll see a drop-down box which allows you to choose which financial asset you want to trade. Your available assets to choose from include Cryptocurrencies, ETFs, Stocks, ​Options, Forex, Indices, and Commodities. You can browse assets by category or use their search function to find a specific asset.

​On the right side of the trading platform interface, you will have the option to enter the amount you wish to trade and whether you want to Buy or Sell. You can also enter a multiplier if you wish to multiply your potential profit by a coefficient. However, a multiplier increases the risk as well. You also have the ability to close the trade automatically if the asset reaches a certain threshold that you set forth.

​Video Demo of How To Trade With IQ Option

What Assets Can You Trade With IQ Option?

IQOption originally started off as just a binary options broker, but they now offer clients the ability to trade Contract For Difference (CFDs) on Cryptocurrency, ETFs, Forex, Stocks, and a variety of binary option contracts.

Stocks

As of this review, IQ Option allows you to trade CFDs on 169 of the best-performing stocks without opening fees. The minimum investment is $1 for Stock CFDs with leverages up to 1:20. Their list of stock assets include some of the biggest companies in the world such as Apple, Tesla, Amazon, Boeing, and many more.

Forex

FX trading is one of the most popular trading markets on IQOption. This broker offers competitive spreads and a wide range of currency pairs including EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, NZD/USD, and USD/CHF. Currently, there are 50 Forex Pairs on the IQ Option platform.

IQ Option gives you the ability to trade CFDs on Exchange-Traded Funds, also referred to as ETFs. An ETF is where many different assets are combined into one basket. There are 25 ETFs currently available to trade.

Cryptocurrency

IQ Option allows you to trade CFDs on 27 different cryptocurrencies including Ethereum, Bitcoin, Ripple, Neo, Cosmos, Binance Coin, Litecoin, Cardano, ZCash, TRON, Stellar, Iota, Dash, EOS, and Bitcoin Cash. You can expect great margin trading leverge and short selling options with quick deposits and easy withdrawals.

Commodities

IQ Option currently offers CFDs on 5 commodities including Silver, Crude Oil Brent, Crude Oil WTI, Gold, and Platinium.

Trade Types and Payouts

Binary Options

Binary options is a financial instrument that pays a fixed return for a correct market prediction on the price of an asset within a predetermined time-frame, or expiry time. Correctly predicting an asset’s price movement (up or down) can result in a profit of up to 95%. Trading binary options on IQ Option has a $1 minimum investment, $0 brokerage fees, and expiry times ranging from 60 seconds until the end of the month.

Digital Options (CFDs)

Digital Options is a financial instrument that allows you to speculate on the extent of the price movement of an asset. Payouts for digital options can go as high as 900% if the asset reaches the threshold specified by the trader. The minimum investment for digital options is $1 and the expiry times range from 60 seconds to 15 minutes.

Technical Indicators

IQ Option offers over 15 different technical indicators to help you identify trends and to spot profitable trades. The 15 technical indicators that are available to you include: MA, Volume (exchange), Bollinger Bands, Alligator, RSI, MACD, Parabolic SAR, Stochastic Oscillator, Awesome Oscillator, ATR, ADS, Fractal, CCI, Ichimoku Cloud, KDJ, DPO, and Belkhayate Timing.

​Charting Tools

​In order to help you get the most benefit from trading with IQ Option, the broker offers a variety of charting tools that can help you formulate a successful trading strategy. The 5 charting tools available on IQ Option include Area, Line, Candles, Hollow Candles, and Bars.

Mobile Trading

IQOption offers clients the ability to trade options and CFDs using their proprietary mobile application. The mobile app works on Android and Apple iOS operating systems. It is available for download via the Apple Store or on Google Play.

The app is very easy to use and has a very clean and intuitive graphical interface. It has the same charting options that you can find on their regular web-based platform as well.

By using the IQOption mobile app, you can:

  • Execute Trades
  • Check Account Status
  • Stay Updated With Market Developments
  • Use Charting Tools
  • Setup Customizable Alerts and Push Notifications
  • And More

​Account Types

​IQ Option ​has 2 different types of trading accounts to choose from: Standard and VIP.

For a standard trading account, just a $10 minimum deposit is needed. Unlike other CFD providers, there are no restrictions on trading functionality. You get access to over 350 ​assets to trade as well as 24 hour withdrawal​ processing. You also get access to several trading competitions that are held on the IQ Option platform (only applies to customers outside of the EU).

A VIP trading trading account is only available for clients that deposit $1900 or more within a 2-day period. A VIP account includes a personal account manager, monthly reports on your trading records, and 3% in additional returns. VIP accounts are only available to customers outside of the EEA.

IQ Option Demo Account

​Like many brokers, IQ Option offers a free demo account that includes $10,000 in virtual money. There is no limit on how long you can use the demo account for. This offers you the ability to test different trading strategies and to get familiar with the platform before investing real money. If you run out of virtual funds inside of your demo account, you can have them replenished so you can continue practicing.

You don’t have to register or give out your personal information in order to access the IQ Option demo. This is not always the case with other brokers, as a lot of companies require you to provide at least an email address in order to gain access to their demo.

Cryptocurrency Multiples

IQ Option has recently came out with a product known as “Cryptocurrency Multiples”. The product basically works the same as a leveraged trade, where the price movements of an asset is magnified by a multiplier. Cryptocurrency multiples was originally produced with the idea of Bitcoin X 100. This essentially increased the price movement by 100X times, which created a large opportunity, as well as risk, for traders.

Due to the popularity of Bitcoin X 100, IQ Option has expanded the concept to IOTA, Ethereum, Ripple, and other cryptocurrencies. The multipliers you have to choose from include X20, X50, and X100. However, the cryptocurrency multipliers are only available for citizens outside of the EU.

FX Options

IQ Option is one of the only brokers that offer a product called FX Options. Currently, this product is only available for the 5 main currency pairs.

FX Options are available in regulated markets inside the European Union. They are similar to binary options because they offer a fixed-risk investment. You understand the potential profit and risk upfront. Each FX Option has an expiry time and the potential profit depends on the asset’s price. Payouts can reach up to 2000% and there is a minimum trade amount of $30 for FX Options.

It’s also important to know that FX Options can be sold at any time, even before expiry time is reached. This is a useful feature that can help you lock in profits or cut losses.

​Order Types

​IQ Option offers its traders a variety of order types and stop loss tools to help minimize losses and maximize profits on binary option trades.

Stop Loss Orders – This feature allows you to set a maximum loss that you’re willing to accept on a trade. When this order type reaches the amount you specified, the trade automatically closes to limit your loss.

Multiplier Orders – This feature allows you to improve your return on investment via a multiplier. If you set a multiplier, the price movement of the asset will increase by 20X, 50X, or 100X. This feature can dramatically increase your profits as a result, but it can also expose you to more risk as well.

Take Profit Orders – This feature is the exact opposite of a stop loss order. You can close a trade early and take your profit when it reaches your specified amount.

Pre-Order – This feature allows you to enter the market when an asset reaches the exact price that you specify. Once the asset reaches that price, the trade will be executed automatically.

Regulation and Security

Over the years this binary option broker has been operational, it has won multiple awards praising it’s quality of service and reliability for customers. IQ Option is recognized as one of the best brokers in the industry by many millions of traders worldwide.

IQ Option is regulated by the CySec and is registered in Cyprus under the company name “IQ Option Europe LTD”. ​ This means that they are able to service clients within the EEA. ​

For traders that reside outside of the European Economic Area, their trading accounts are managed by a sister company known as “IQOPTION LTD”. This company is registered in St. Vincent and Grenadines, and this entity is not regulated.

Deposits

The minimum deposit for opening a real account with IQ Option is $10 USD/GBP/EUR. This broker does not charge any processing fees for depositing funds. In order to make your first deposit, you will have to go through an account verification process which might require photo identification. Some countries will have different requirements than others.

For your convenience, IQ Option offers many different ways to deposit money into your account including credit cards (Visa and Mastercard) and wire transfers. This broker also accepts many different E-wallets including Skrill, Maestro, WebMoney, Neteller, Cash U, and Moneybookers.​ IQ does not accept Paypal as a payment method.

​Withdrawals

The minimum withdrawal amount for IQ Option is $2. ​In order to make a withdrawal request, you will need to use the same payment method as your deposit because the transaction is processed as a refund. Afterwards, you can choose whichever payment method you want for withdrawals. Bank transfers may incur a small processing fee.

In order to withdrawal funds from IQOption, you’ll need to verify your identity. This verification process can take up to 3 days and is necessary to prevent fraudulent activity and to secure your account from unauthorized use.

All withdrawal requests are processed by IQ Option within ​1 business day​. If you request a withdraw to a bank card, it may require additional time depending on your bank.

Is IQ Option Safe?

Yes, IQ Option is safe. This company is one of the biggest and most successful binary option brokers in the industry with over 40,000,000 registered users. They are also licensed and regulated by the CySEC (Cyprus Securities and Exchange Commission) and the FSA (Seychelles Financial Services Authority). All client funds are held in segregated bank accounts for further security. IQ Option is also a member of the Investors Compensation Scheme, which protects client funds up to a maximum of $20,000.

Can You Really Make Money With IQ Option?

Yes, of course you can make money with IQ Option. In order to make a profit, you have to correctly predict an asset’s price movement by the time the trade contract expires. IQ Option offers short-term trades that allow you to make money within 60 seconds if you predict the market direction correctly. Binary options pay up to 95% profit, while digital options pay up to 900% profit.

Bonuses and Promotions

Due to regulations set forth by the CySec, IQOption.com doesn’t offer any type of deposit bonuses.

However, this broker does offer trading competitions that allow you to compete against other traders for prizes ranging from $100 all the way up to $100,000. Unfortunately, these trading tournaments aren’t available for citizens within the EEA. Standard accounts can join the competitions for a fee, while VIP accounts get free entry.

​​Countries and Languages

​Countries NOT Accepted:

Unfortunately, IQ Option is not able to accept traders from the United States, Russia, Canada, Australia, France, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan. The countries listed above have stricter restrictions and regulations, making it difficult for IQ Option to provide trading opportunities to their citizens. ​

Countries Accepted By IQ Option

IQOption accept traders from over 213 countries including Argentina, Bangladesh, Bolivia, Botswana, Brazil, Cambodia, China, Colombia, Egypt, Ghana, India, Indonesia, Iran, Ireland, Jamaica, Japan, Korea, Nigeria, Germany, Kenya, Malaysia, Maldives, Macedonia, Mexico, Morocco, Namibia, Netherlands, New Zealand, Pakistan, Philippines, Saudi Arabia, Serbia, Singapore, Somalia, South Africa, Sri Lanka, Switzerland, Tanzania, Thailand, Turkey, UAE, Uganda, Ukraine, United Kingdom, Vietnam, Zambia, and Zimbabwe.

Related Content:

Customer Support

IQ Option ​has various forms of customer support including email, telephone, and online chat. There are currently about 90 customer service support representatives available to assist you.

For your convenience, IQ Option has toll-free phone numbers available in the following countries: United Kingdom, Brazil, South Africa, India, Singapore, Thairland, Colombia, Australia, Mexico, Portugal, Spain, Argentina, and Chile.

For online chat support, the average wait time is an impressive 38 seconds. For email support, the average response time is 14 minutes.

​Is IQ Option A Scam?

​Absolutely not! As of 20​20, this broker has over 41 million registered users from over ​213 countries worldwide. The number of active traders is growing every year and there’s no signs of that changing. They also process more than 1 MILLION transactions per day.

IQ Option is a legit broker and one of the most reputable companies in the industry. Their ​intuitive trading platform is the best around and we highly recommend IQ Option to traders of all experience levels, beginner to advanced.

​* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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.

South Africa

Binary Options South Africa Brokers – Do They Worth It to Be Tried?

Choosing a good and reliable binary options broker is not an easy task due to the fact that there are many things we need to consider. When it comes to comparisons of different binary options brokers, many criteria appear. Of course, the very first thing that traders usually take under considerations is either the country, or the region the brokers are based in. Today, we know many groups of binary options platforms as to their nationality. And among them the Cyprus-, UK-, Australia-, Canada- and USA-bases ones seem to be the most popular. However, there are also other new groups of binary options brokers, which are about to become very famous and quite preferred, too. Such a group, for example, is the binary options South Africa brokers. Are they safe? Do they worth it to be tested? Find out now!

How Reliable The Binary Options South Africa Brokers Are?

Before getting so popular, the binary options trading platforms in South Africa did not even have an official authority that could cover their safety feature and even more important – that could give them official licenses. Still, even though not controlled by a particular body, the binary options South Africa began to get more and more famous and traders did believe they were safe. As a matter of fact, many local brokers were completely legal – with an official license and with the right to operate on the financial market with binary options. As to the regulation lack, traders preferred to use those binary option South Africa brokers that are offshore, which means they are either owned by companies from other countries, or they simply are foreign trading platforms, which, though, accepted South Africa-based traders. However, things have changed quite fast for binary option South Africa platforms. And currently, they are well regulated and very similar to the rest of the global reputable binary brokers.

Is There Any Regulation Approach in Binary Options South Africa Trading Platforms Now?

Currently, the brokers offering binary options that are based in South Africa, though, have their main and official regulation bodies. These agencies made the South African brokers even more beloved to the trading community. See now who are in charge for the safety measures and punishments, when it comes to trading with binaries in websites that are owned by companies based in South Africa:

Financial Services Board

The FSB or the Financial Services Board is a common national government body that is in charge for official and proper regulation of the entire financial services industry in South Africa and of the binary option brokers, themselves, too. Know that this regulation body does not have any independent functions or priorities the way most of the world`s popular financial regulation bodies have. Moreover – the Financial Services Board is oriented to all kinds of procedures, financial structures and binary option participants (including the South African Brokers) in South Africa with one single exception – the banking organizations and services. The Financial Services Board regulates the binary option market entirely in public interest by keeping an eye on the regulation of the largest stock exchange market in Africa, too. This market is known as Johannesburg Stock Exchange and many binary traders adjust their strategies due to the processes that happen in its sphere. Financial Services Board have lots of responsibilities and duties and the main ones among them are security of capital markets, Financial Services Provide controlling, insurance, collecting investment schemes and etc. However, the main work, which involves the South African Brokers,that the Financial Services Board does is to secure and arrange the work of one of its agencies. This agency is entirely oriented to control the binary option trading in South Africa.

Financial Advisory and Intermediary Services

The Financial Advisory and Intermediary Services Agency – known with the abbreviation of FAIS Division – has the task to secure the Financial Service Provides as part of the main FSB regulation body. To keep safe its faultless and smooth work, FAIS has acquired several basic departments with particular fields to operate in – Registration (of the South African binary option brokers), Supervision of the entire field for trading with binaries, Compliances by binary option traders, as well as helping the binary option South Africa websites to operate on the market as competent brokers of the global market.
Try any of the currently available South Africa binary options brokers and you will not regret by all means!

IQ Option Broker Review

Min. Deposit USD 10
Max. Leverage 1000:1
Min. Spread 1.1 pips
Regulators CySEC
Regulator Origin
Broker Type Market Maker

Most retail CFD accounts lose money. Your capital is at risk.

Summary

Regulated by major regulatory organisations including CySEC, IQ Option focuses on making CFD and Options trading accessible and exciting for traders. An award-winning browser-based platform and connected apps; this accessible software changed the way options trading is done online.

With accessible accounts with 10 USD minimum deposits, video education material, and 24/7 customer service, any Forex trader who is also interested in binary options trading on the same account, should consider IQ Option as their brokerage.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Standard
Bonuses None
Our Review Process

Trading Conditions

Minimum Deposit USD 10
Base currencies EUR, GBP, RUB, USD
Number of FX Pairs 57
Hedging Allowed No
Scalping No
Swap-Free Accounts No

Average Spreads

EUR / USD 1.1
GBP / USD 1.29
USD / JPY 9.2

Company Details

Company name IQ Option Limited
Founded 2020
Website Visit Website
Type Market Maker
Regulators CySEC
Office locations St. Vincent and the Grenadines

Deposit & Withdrawal Methods

Supported Platforms for IQ Option

Is IQ Option Safe?

IQ Option was the star of the award shows in the years following their launch as a binary options broker. Winning a set of awards for the innovation and performance of the platform, including Best trading platform (Forex Awards 2020) and Most innovative binary options platform and Best Mobile trading platform (IFM Awards 2020), it is well established that the industry recognises the quality of the technology.

Additional recognition as the World’s leading binary options broker (2020) and Best binary options broker Europe (2020) affirmed that the brokerage was providing a recognised service on the technology.

IQ Option Europe Ltd has been regulated by CySEC (license: 247/14) since 30/07/2020. IQOPTION LTD is registered at St. Vincent and Grenadines, this entity is not regulated.

Considering the regulation and oversight on IQ Option, along with the industry recognition for innovation and quality of the execution at the brokers, IQ Option should be regarded as safe.

Sign Up with IQOption

IQ Option for Beginners

IQ Option is a fun platform and has made trading options extremely enjoyable and accessible via mobile applications. There are competitions and other bonuses that encourage players to keep playing, the platform is intuitive, and there is 24/7 phone customer service in 13+ languages to help get traders going.

Educational Material

The education material at IQ option is a series of videos that are split into categories. While most of the videos cover issues of market news, there are a set of videos that cover how options work, the basics about the IQ Option platform and an introduction to CFD trading.

A large portion of the material is focused on cryptocurrencies and limited information on anything substantive and educational about trading overall.

Analysis Material

A Facebook-style news feed of 3rd party economic news is freely available to all visitors to the IQ Option website along with a small section on expected high volatility news events. The rest of the analysis comes in the form of tools built into the platform which will be covered later.

Customer Support

IQ Option has a 24/7 telephone and live chat customer support service. Most countries have a toll-free phone option while others are charged at local rates. Customer service is available in 13+ languages to ensure a good customer experience.

Trading Conditions

The trading accounts are very generous for new traders, making it easy to get a live account with limited funds. Because IQ Option is a market maker, they should be more open with their spreads on Forex and Crypto CFD products, as this is one of the significant factors that other brokers are very transparent about.

Account Types

Opening an account at IQ option is easy as they support account creation by using your existing Google or Facebook account, or fill out a form to include your name, and email address. All of the KYC (know your customer) information will be added later in your profile before you can deposit and trade. Every account is assigned a personal manager, monthly trading analysis and expedited withdrawals in under 24 hours.

Demo Account

This account will allow you to get to know the platform and how it works before you invest any real money. Upon opening the account, it is loaded with $10,000 in virtual dollars for trading with 400+ assets. Should the demo account close, contact IQ option and they will renew the account, meaning you can extend the lifetime of your demo account indefinitely.

Real Account

Ideal for newcomers to IQ Option, this account requires only a 150 ZAR minimum deposit and makes 400+ trading assets available. Participate in trading competitions, make withdrawals of your funds in under three days. Note that the maximum leverage offered is different for European countries and restricted to 1:30.

VIP Account

For the more serious trader, the minimum deposited is lifted to $1900 within 2 months. The VIP-status isn’t available for regulated traders.

Spreads and Commissions

IQ Option is a market maker where trades are not conducted on the open market and instead transacted on an internal exchange. While this is standard for market maker brokers, we could not find any openly published information on minimum and average spreads.

It is rumoured however that the spreads for USDEUR are between 15-20 pips which is significantly higher than any other brokers we have listed.

Deposit & Withdrawal

Depositing funds is secure, and some e-wallet solutions are available. Visa and Mastercard are accepted for deposits and free of any administration charges.

The withdrawal system favours withdrawing profits with e-wallets. If you are withdrawing more than you initially deposited using a credit card, the amount that you deposited via credit card will be returned to the card, while the additional amount will be sent to you via e-wallet (free) or via bank wire (31 USD). If you deposited with e-wallet, then all funds will be sent back to that same e-wallet. Payments take three business days for IQ Option to process.

Note: Regardless of the amount withdrawn, IQ Option charges a flat fee of $31 or equivalent in local currency for Bank wire withdrawals.

Inactive Account Fee

After 90 consecutive days of no trading activity, an account is considered inactive, and a fee of 10 EUR, or local equivalent, will be charged until the account becomes active again.

Trading Platform

The IQ Option platform has Binary Options, Digital Options, Forex Trading and more available to customers. This variety makes it easy if you want to trade more than just Forex Trading, and why we keep the review on this website.

Central the tool is the list of currency pairs you can trade. Next to the currency in the list, you can see a glimpse of the research area as it shows the profitability over the 1 and 5-minute trading intervals.

The next layer down in the platform is the monitoring of 4 assets in more detail, each with a trading screen so multiple trades can be monitored. This is the platform showing its diversity as with the below example; the assets can be from different classes – this example shows the USD/ZAR and CAD/CHF currency pairs, Bitcoin, and Brent Crude Oil. This complexity of data and structure is unique to IQ Option.

Research & Education

IQ Option offers research tools directly in the browser. Below is an example of the single currency view where we have the pair USD/ZAR plotted. Straight from this screen, the trader can either speculate on the value of the currency pair either decreasing or increasing. You can see the simple functionality showing in the “higher” and “lower” buttons to the side of the screen.

Here is an additional view of the USD/ZAR currency pair, showing market momentum and other layers on the graph. In this screenshot, I am monitoring new currencies at the top of the screen while setting up a 1000 USD put trade.

IQ Option – The Social Platform

On IQ Option, leaderboards are visible showing the better traders of the week and even localised down to South Africa. Congratulations to Emily M. I think this aspect makes the platform a little more fun, but traders should not only focus on this playful component and forget the seriousness of trading, as losses are just around the next corner. Tournaments are also available to traders who wish to participate, however these tournaments are not available to regulated users.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the IQ Option offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

IQ Option Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. IQ Option would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overview

IQ Option has won awards for the strength of their binary options business, as well as the technology that supports the experience. It is unique, fun, and has done something very different by incorporating high-quality design into a financial trading application. While the trading conditions are hidden, and the educational section is limited, IQ Option is a leading global binary options broker.

Most retail CFD accounts lose money. Your capital is at risk.

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

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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