*Amount will be credited to account in case of successful investment
Option to Use Demo Account
Top notch brokers offer demo accounts to place risk-free trade. It is an ideal option for learners, who are interested to test trading strategies without investing actual funds. To help out such traders, virtual money is being used for placing binary trades and using various trading options and expiry limits.
The top binary trading sites for South Africa traders have some limits for initial deposit. According to the nature of the account, minimum and maximum deposit amount is given.
With most of binary brokers in South Africa $250 is the average amount needed to open a standard account. However, a broker such as IQ Option requires deposit of just $10.
Safety of Payment Options
This is one of the main elements when joining a specific trading platform. Both depositing and withdrawing has to be straightforward and safe.
In order to deposit or withdraw money in traders’ accounts, different payment options are provided for fast and safe transfer. Almost all reliable binary brokers permit the use of credit/debit cards, bank transfer and e-wallets transactions protected by SSL encryption technology.
Majority of brokers allow their traders to use mobile app and get connected through Android smartphone, tablet, iPad or iPhone. Apple AppStore and Google Play are the suggested options from where mobile apps can be downloaded.
While using smartphone, it is easy for traders to check current prices, available trading options and invest minimum amount to place a trade. The procedure for deposit or withdrawal of money is quite easy and safe; therefore traders do not need to stay at home in order to earn money from trading binary options.
Customer Support Service
It is noted that the best brokers for South African traders have made it easy to keep up a correspondence. Email, online chat, phone calls and Skype are the available methods to answer traders’ queries.
Easy reachable customer support is very important because it provides traders a sense of security that assistance will be provided to them at any moment.
The top rated trading sites allow their customers to keep in touch 24 hours a day. Moreover, the FAQ section is developed to provide details on trading options, minimum investment, bonus types, and account types, wagering conditions, payment methods and withdrawal time.
Each broker has designed various account types to support traders beginners and professional traders so that they can select the account as per their financial resources. The minimum deposit, investment amount and bonus range is different for each account type, so it is suggested to check the available categories to meet your objectives.
Binary Options Scams
There are so many binary brokers present on the market today, but some of them are better than the others. For example, many traders will be surprised how not all brokers are equally good, even though it may seem so at the first glance. Binary options scam brokers are sometimes hard to distinguish from good binary brokers, but it is not impossible. All it takes is a little knowledge and research. Traders who dedicate their time and effort into learning about binary trading and binary industry in general usually achieve more impressive results.
How to Avoid Binary Scams?
One of the best ways to avoid depositing with a scam binary broker is to read plentiful objective reviews to get a better image on different brokers. High-quality reviews usually accentuate both good and bad sides of trading binary options with a certain broker and nonetheless, give us an objective and balanced overview. Also, traders should take their time, and consider their goals and trading plan and decide what broker will be the best for them to pursue their dream of becoming a trader.
Traders must also make sure to read all terms and conditions before accepting any sort of promotional offer or opening an account. Terms and conditions usually contain all most important information that regulates the relationship between the broker and the trader, and most scam binary brokers have T&C that lack crucial information.
Regulated brokers usually have a much stricter set of rules under which they operate. Selecting a regulate broker ensured traders that they have a government body they can complain to in case they feel they encountered a scam. Real scam broker appear and disappear as they like, and take no one into consideration but themselves.
Broker that closed, are not safe or simply stopped offering binary options are 10Markets, 24option, AnyOption, Banc De Binary, BetOnFinance, BinaryOnline, Bloombex Options, BullBinary, Core Liquidity Markets, ETX Capital, Finpari, HBC Broker, HY Options, Opteck, Option.FM, OX Markets, PlusOption, Porter Finance, PrestigeOption, Rbinary, Skyline Markets, StockPair, TopOption, TraderVC, Tradorax, uTrader, VantageFX, Daweda Exchange.