How to recognize a good binary trading app?
You downloaded the app. Opened it only to find out it’s not working. Would you keep that app? Of course not! There you need a good trading app. Fortunately, you can distinguish between the good and the bad trading apps. With the quick pace of technological advancement, today’s apps provide a large number of on-the-go trading features.
Not often, the apps provide an even better trading experience than the desktop platform. But, is it the design? Is it the interface? What should you watch over when choosing a trading app? A good app has the following features:
- Full range of services: A broker who wants to provide the users with a high-quality mobile app ensures that all functionalities of pc trading are available for mobile app users. A good app also includes the full range of functions of the trading application as well as all options types offered by the broker.
- User-friendly Interface. The user of an app should be able to find out about the existing markets at a glance and also create a watchlist. Besides this, intuitive navigation should be possible, so even successful binary traders in South Africa should have no difficulty in finding their way around. Furthermore, there are different chart variants available with a high-quality app, and the trading takes place in real-time.
- Efficient. It is important that all features of the trading application work smoothly, and the order is executed without any delays and the display should be flawless.
- Account functions. With a good app, deposits and withdrawals can be made easily, and all payment methods of the desktop version are available on the go. With some broker apps, payment history can also be called up, and an overview of the past trades is provided.
Apart from the trading and account functions, a good mobile application offers other services such as
- access to news feeds
- live support
- economic calendar
- free binary signals
- free educational materials and many more.
Before opening a new account via the app as a new customer, it is worth asking customer support for any additional information.
Binary Options App
There is no doubt that binary options apps are very popular among traders. They can use practical applications to pursue binary trading on the go in everyday life and never miss an opportunity to place a perfect trade. With a trading app, traders can place trades on the road by bus and train or from work or university and use all functions available on their home desktop.
Advantages of using a Binary Options App instead of a desktop trading platform
Using the mobile version application on your phone or tablet, you can trade binary options and earn money regardless of where you are located, on a lunch break, or vacation. Modern mobile applications have a high degree of reliability and are adapted for various operating systems Android, Windows Mobile, and IOS. The mobile interface is quite convenient, has a nice design, and does not differ in functionality from PCs and laptops’ interface. There is no need to observe the changing market situation. A notification will inform you of the completion of the auction, even if the smartphone is in your pocket.
The main question you should ask when choosing any broker’s mobile app is: “Is this mobile app suitable for me?” To answer this question, you need to know about a few things.
Every beginner needs a demo account to learn to trade.If the broker isn’t providing one, don’t choose it.
- Instant access to your account
Access to your personal account should be equally fast both through a mobile application and from a PC. Account management, deposits, and withdrawals should be intuitive. The mobile app must have a full set of account settings.
- News and Financial analysis
In the best versions of applications for mobile trading, a news reporting function is integrated. The trader has the opportunity to instantly learn about changing market conditions.
Many apps provide their users with a minimum account balance for trading. The amount can be between $1 to $10. If the trader does not have trading experience and does not want to risk large amounts, it is better to choose a broker’s app with a lower minimum rate. If you don’t want to trade on a pc, then the selection of a trading app becomes more important.
With the points mentioned above, the choice of an app won’t be difficult.
Binary Options Trading Apps
Binary trading is an excellent alternative to classical trading, because it is more comfortable to use, and therefore they have a large number of fans.
In addition, using the application on your phone, binary options are an affordable option to make money anytime, anywhere. Given the mobility of today’s life, many brokers have developed a binary application, offering their customers at the possibility of a transaction anytime and anywhere.
Undoubtedly, this method of making transactions is very convenient and increases the efficiency of trading. However, it is very important not to confuse online trading with mobile games and stop on time. In trading, discipline and psychology account for 90% of success. Therefore, it is essential to approach binary trading very consciously. Wondering what the best trading apps for binary options are? We got you covered.
South Africa has become a hotspot for trading binaries. Believe it or not, South Africa ranks top among binary options traders.
Due to this, many brokerage companies are allowing convenient trading for South Africans.
But what is the best binary trading app in South Africa?
To answer this question, we’ll first walk you through the process of starting mobile trading. After that, we’ll give a list of the best binary trading apps in South Africa.
How to install a binary options mobile app and start trading?
In addition to experience and knowledge, to successfully trade binary options from your phone, you need to do some tasks.
The first task is to find a reliable binary broker. The mobile platform must reliably protect user data.
After finding a reliable broker, you need to download the broker’s mobile application from Google Play store or Apple’s AppStore.
Then, go through a simple registration procedure and confirm your e-mail address. And voila! Now you can start trading on a demo account or make your first deposit.
After opening an account, you need to find a trading strategy. Without an effective trading strategy, you cannot make money.
Every trading app has the same features, but you need to visit the broker’s website for detailed information.
Best binary trading app in South Africa
At the moment, these are the best binary apps in South Africa:
- IQ Option South Africa
- Binary.com South Africa
- 24 Option
- Expert Option
6. Expert Option Trading App
The Expert Option trading app has a beginner-friendly interface. The app provides all the features of pc trading. The thing we liked about the Expert Option app is multiple payment processing methods. You can withdraw or deposit funds through credit cards, Neteller, Skrill, Alipay and many others. Also, you can receive a bonus of up to 125% when referring to a friend. To open an account, you need to deposit $50.
5. 24Option Trading App
The trading platform of the 24Option broker contains everything you need to trade binary options. The interface is simple and not burdened with a heap of unnecessary functions.
The main advantage of the 24Option platform is the ability to close an option prematurely before the expiration date. If you think that the option will no longer make a profit in the future, you can close it by losing only 20% of its value. These are the best three apps, according to us. As we’ll move further, we’ll talk more about the trading apps. Read our full 24option Review South Africa for more details about this broker.
4. Deriv.com Trading App
Deriv.com is the one that created binary options trading in 1999. So, without a doubt, it is a reliable company. Since its inception, the firm has come a long way and has introduced a mobile trading app. They offer a huge amount of trading assets and a training academy. They charge a minimum deposit of $5. Read our full Deriv.com Review South Africa for more details about this broker.
3. Olymptrade Trading App
The main difference between the Olymptrade app and its competitors is a large assortment of tools for trading. With the excellent user interface, a trader can perform all sorts of trading functions on the app. Also, the app provides options for crypto trading. The minimum deposit for trading is $1. Read our full Olymp Trade Review South Africa for more details about this broker.
2. Binary.com Trading App
Binary.com is the one that created binary options trading in 1999. So, without a doubt, it is a reliable company. Since its inception, the firm has come a long way and has introduced a mobile trading app. They offer a huge amount of trading assets and a training academy.
They charge a minimum deposit of $5.
1. IQ Option Trading App
The IQ Option has a user-friendly interface that you can customize, starting with the choice of the background colour scheme and ending with the ability to open several charts of financial instruments in one window.
The trader’s field of vision includes necessary information about the potential profitability of the option, and there is also a relatively good set of tools for performing technical analysis. Besides this, the minimum deposit for the IQ option is $1.
Binary Options Mobile Trading
We gave a detailed view of mobile trading apps in the previous sections. Now, we’ll describe how to profit from binary options South Africa, using mobile trading as a beginner. So let’s get started.
A simple binary options trading strategy is a perfect strategy. In the binary options market, traders earn much faster than any other financial market. But it’s a two-edged sword, and you can lose quickly as well. This is especially important if you are a beginner.
Newcomersshould choose a simple strategy for mobile trading. Practice it on the demo account, and then move to the real account with minimum deposit. In this way, beginners can survive in binary options trading. It is recommended to use trend strategies if you are a newbie. Using trending strategies, you can analyze support and resistance levels. This will give you reliable trading signals.
The most popular strategies in binary options for beginners are:
- Three in a row
- Triple screen
- Making the right prediction
To make money on binary options mobile trading, you must have the ability to correctly predict. The forecast should not depend on whether the price of the asset will rise or fall. The right approach to market forecasting involves foresight. You need to collect information, analyze, and then predict what will happen based on this data.
Here a set of free tools of the trader comes to the rescue, which shows the movement of the price of an asset, as well as the events affecting them. Your task is to analyze all available information and make the right conclusion about in which direction the asset will move. The wrong approach is divided into two categories: forecasting randomly, like in gambling, and relying only on graphs.
This can give a good result, but only in the short term. In the long run, you will not succeed.
Even if you are not using a news strategy, you must be aware of what’s going on in the markets. After reading this guide, we are sure that selecting the best binary trading South Africa app won’t be much of a problem.
Remember the story, “the hare and the tortoise?” This story is a perfect example of binary options for beginners. Deceitful brokers portray mobile trading as a get-rich-quick scheme. You must have seen these ads where the profits are going up quickly. Don’t fall into this trap.
Binary options are a form of trading and not gambling. It is best to start with the little deposit, try a few strategies, and analyze how you are performing.