To understand the main elements of what should particular broker have, here are some features to consider:
Poor Terms & Conditions
First of all, traders should check the status of binary broker before opening an account. For this purpose, information available in the section “terms and conditions” should be checked.
If crystal-clear information is provided about the withdrawal, bonus, payouts and investment then it is considered to be a good trading platform. On the other hand, insufficient and shaggy information shows that the broker is not reliable and South African traders should avoid investing money on this platform.
Unsatisfactory Customer Support Service
Sometimes, South African traders read terms and conditions section, but they cannot understand the technical language and get confused. In such cases, the reliable platforms offer customer services to guide their clients.
Regulated brokers like 24option and IQ Option provide transparent as well as detailed trading terms so that traders can understand the rules. Customer services of legitimate brokers are available in different ways. To keep their customers well-informed, top notch trading sites offer 24/7 customer services.
When traders join trading platform of a scam broker, they face difficulties in communication. Most of the time, phone call or emails are not given any response. Before selecting a broker, check the response of skilled staff through online chat, phone calls and emails.
Only reviewed and checked binary brokers provide well-trained and responsive staff to answer the queries of South African traders. Sometimes, it becomes inevitable to wait for feedback; however, if traders are not given response after numerous attempts then it might be that the broker is offering scam services.
Protection of Financial and Personal Data
It is the responsibility of a broker to present SSL secured trading platform where financial and personal information remain safe. For this reason binary options trading South Africa shows the list of brokers that are SSL certified and give 100% protection of funds from deposit to withdrawal process.
It is suggested to have an eye on web address of brokers while finding the right trading site. If the address of a trading platform has HTTPs and green padlock, then it means the site is safe and secure. Association to web address and green padlock confirms the stability of a domain.
Only respectful broker will prefer to develop long term relationship with their traders, therefore he will not opt for a temporary platform. Comparatively, scam brokers do not pay attention to issues that can violate the sensitive information of registered traders.