There are many ways to make money online. Trading binre options is one of them. However, before you can engage in it, you need a brokerage account. Here are the top binre options brokers around.
As we might already know, there are several ways to earn some bucks from the internet. However, one of the most popular, profitable and rewarding ways to do so is through Binre options trading. Binre options is a financial instrument (usually called derivatives) that allows a trader or investor to speculate on the directional movement of the prices of financial assets. Put another way, binre options enable you to speculate on whether the price of an asset will move up or down in the near future. This means that you can predict whether the prices of Facebook stock, Bitcoin, Crude oil, or gold will go up or down, over a time-span, say 5 minutes. If your prediction goes right, you will be paid a fixed percentage, ranging between 75% to 95% of whatever amount you have speculated with; so the returns are very juicy. We must also note that binre options trading involves a high amount of risk, and you can lose your entire capital.
However, you might ask, how do I start to trade binre options? The answer is you need a binre trading broker.
A binre options broker is a company that provides you with a platform for you to speculate in binary options. The binre trading broker provides you with software – a trading platform website or mobile app, or even both – for you to trade on the upward and downward movement of the prices of financial assets. What you have to do to access the broker is to sign up to open an account, complete all processes outlined, fund the account using the available funding options, and then you can start to trade.
There are many binary trading brokers available, but you must be careful because it is most advisable for you to go for the best. Going for the best broker offers you much more benefits and seamless trading. Such benefits include maximum security for the funds that you have deposited in your trading account. A good binary options broker offers you good customer care support, enabling you to lodge complaints regarding your account and get attended to. A good binary trading broker will also provide you with reliable trading platform that will reduce the likelihood of slippage occurring during your trading. Slippage can wipe out huge sums from your account. Furthermore, a good binary options broker will offer you with a variety of tools and features to help you make good trading decisions, as well as present you with varying account types for you to choose from. Finally, a good binary options broker will provide you with a demo account for you to practise your trading strategies.
As said earlier, many binary trading brokers exist, but the ones we most recommend are – IQ Option, Binary.com, Deriv.com, 24Option, and Olymp Trade. This is simply because they offer the above features and boast of even much more services and benefits. Furthermore, they are recognised worldwide and are regulated by reputable regulatory institutions.
Binre Brokers South Africa
You may be wondering if you can trade binre options in South Africa. The answer is ‘Yes;’ and there are several binre trading broker services available in South Africa. All the binre options brokers named above provide services to South African binre options traders. Below is a review of each binre options broker and the services they have available in South Africa.
Binre Trading with IQ Option South Africa
Overview: With a dedicated website, IQ Option has a significant presence in South Africa. You can access IQ Option South Africa through both a desktop-based website and also mobile applications for Android and iOS. Still, to do so, you must undergo a registration process using your email or any of your social networks to log in.
Available Markets: IQ Option in South Africa allows you to speculate on several financial markets including currencies, stock CFDs, commodities and crypto coins.
Deposit & Withdrawal: You need a binary option minimum deposit of $10.
However, if you want to withdraw, you must leave a minimum of $2 in your trading account.
Withdrawal methods include bank wire transfer, debit cards, and electronic wallets such as Skrill, WebMoney and PayGURU.
Notable Features: The IQ Option South Africa provides you with a multi-layered trading platform, on which you can monitor multiple instruments at the same time, alongside several innovative charting and technical analysis tools, including market screeners, volatility alerts, economic news calendars, as well as access to a trading room where you can interact with fellow traders.
Binre Trading with Binary.com South Africa
Overview: Formerly BetOnMarkets.com, Binary.com is very much available in South Africa, but does not feature a dedicated website for South Africa like IQ Option. It is accessible via web (called the WebTrader) and mobile platforms (called the TickTrade app). The Malta Financial Services Authority regulates it. It is one of the very few binre options brokers regulated by the Malta FSA. Binary.com is likewise one of the few binary options brokers that pay up to 100% on correct trades.
Available Markets: Binary.com allows speculation in currencies, stock indices and commodities. They do not have cryptos and individual stocks.
Deposit & Withdrawal: Minimum amount to deposit for Binary.com is $5, and you can use several deposit methods.
For withdrawal, unlike what is attainable with other brokers, you can cash out all the funds in your account to the last dollar. Withdrawal methods include the usual bank transfer, debit cards, but Binary.com also features a wide range of other electronic wallets. Additionally, Binary.com allows the use of Bitcoin for deposit and withdrawal.
Notable Features: Binary.com comes with many technical analysis tools, price bands and indicators. If you are a new trader or you are reluctant to do manual trading, then you will find Binary.com trading bot useful in making trading decisions.
Finally, you can access Binary.com through MetaTrader 5 platform, a rare feat among binary brokers. They also provide an education platform to teach you the basics of trading binre options.
Binre Trading with Deriv.com South Africa
Overview: An offshoot of Binary.com, Deriv.com is a relatively new binary options broker in the market. Binary.com is transforming Deriv.com, but for now, both platforms are still separate. Regulated by authorities in Malta, Vanuatu and the British Virgin Islands, Deriv.com allows you to trade via web-based platforms; there are no mobile apps available for now. To however use Deriv.com, you must be 18 years and above.
Available Markets: Just like its predecessor, Deriv.com allows you to trade in over 70 markets including currencies, commodities, stock indices and synthetic indices, but no stocks and cryptocurrencies.
Deposit & Withdrawal: Minimum deposit amounts differ based on the deposit method; for debit/credit cards, the minimum is $10, while it is $5 for e-wallets. There is no minimum for crypto deposits. Bank deposits are also available but may take up to 2 days to reflect.
The above channels can also be used for withdrawal.
Notable Features: Deriv.com allows you to trade via its DTrader web platform, and DMT5 available on MetaTrader 5. It features a trading bot, DBot, to assist you in making trading decisions.
Binre Trading with 24Option South Africa
Overview: 24Option started to cater to South African binre traders about 5 years ago. It prides itself on being a ‘premium’ binary options broker, as evidenced in its minimum deposit fees, and its security and registration process. To open an account, you have to show proof of address, a national identity card and credit card statement.
Available Markets: With 24Option, you have access to trade almost all markets – forex, stock CFDs, cryptocurrencies, and commodities.
Deposit & Withdrawal: Minimum deposit amount is $250 for the Basic account type, and goes as high as $250,000 for the VIP account. Deposit methods include e-wallets and debit cards.
Likewise, the minimum withdrawal amount is $250, and any of the above channels can be utilised for withdrawal.
Notable Features: 24Option allows you to access its platforms via a mobile app and web trader. It provides premium education materials, and trading tutorials and webinars, as well as trading alerts or ‘signals.’ You also have personal access to a professional trader, if you open the higher account types. There is a dedicated South African hotline for 24/7 customer support.
Binre Trading with OlympTrade South Africa
Overview: OlympTrade is one of the most popular names in the binary broker industry. OlympTrade is quite highly regulated as it is a member of the International Financial Commission.
Available Markets: 24Option allows you access to over 80 asset classes covering the popular financial markets and the seemingly unpopular ones like indices and ETFs.
Deposit & Withdrawal: Minimum amount for deposit is $10 for the Basic Status account; however there is the Advanced Status account with a minimum deposit of $500 and an Expert Status account which comes with a minimum deposit of $2,000. You can deposit into your trading account via e-wallets, bank cards, local bank transfers, and Bitcoin. These are the same methods for you to make withdrawals. In South Africa, OlympTrade allows traders to use wallets such as FasaPay, GlobePay and AstroPay, something you can’t get with most binary brokers.
Notable Features: Signing up for the Expert Status account gives you access to exclusive signals, one-on-one training, risk-free trades and up to 92% return on successful trades. They also have robust customer service covering phone, email, and live chat.
Binre Broker Demo
A critical feature of a good binary trading broker is the provision of a binary trading demo account. Binary options demo trading account is an account provided by the broker to you for free, that contains virtual money for you to use to trade. The money in the binary trading demo account is not real, and you can never cash it out.
Why do binre trading brokers provide traders with demo accounts?
- To practise trading skills.
Binary options brokers provide demo trading accounts because they want to give newbie traders using their platforms the opportunity to practise their trading skills, before the deposit their own actual money/capital. A demo trading accounts allow you as a beginner trader to test, experiment and trade real market conditions with fake money. Thus, you can make mistakes without any fear of liability.
- To test the binary trading apps.
Binre options demo trading accounts allow prospective clients of a binary options broker to test its binary trading apps and their platform before deciding to trade with that broker. You will be able to know specific styles that are peculiar to the particular binary options broker, such as their calculation of lot sizes, allowable margin and minimum risk amount.
- To test new strategies.
Finally, successful binary traders in South Africa may make use of demo trading accounts to test new trading strategies to ascertain if they are effective and profitable, using fake money but real market scenarios, before applying those binary options strategies to live accounts where actual money will be on the line.
Not all binary options brokers offer demo accounts. Here is an outline of the above named binary options brokers and a description of their demo account services.
- IQ Option South Africa gives traders $10,000 virtual money.
- Our Deriv.com review South Africa will reveal all the details on their demo account
- Binary.com South Africa is the channel through which all Binary.com traders can access a demo account.
- Read our 24Option review South Africa to learn how to gain access to its $10,000 virtual money only when you register for the Basic account which goes for $250.
- Learn more in our OlympTrade review South Africa on their amazing offer – a $10,000 demo account, which can be replenished anytime it goes below $5,000.
Binre Broker Scam
Do not be surprised at this headline. There are scams in the binary options broker industry, and as a trader looking to choose a broker, deposit and start trading, you have to be careful. In fact, it is not an exaggeration if we say that in the binary options broker space and the binre options trading industry, there are more scammers than there are real people. That is why it is unsurprising that certain countries like the USA, Canada, Belgium, Japan, Turkey, Russia, Israel and a handful of others, have banned binre and digital options, denying their citizens access to it.
How to identify binre options broker scams
Binary options trading scams range from binary options brokers who cheat clients to fake binary trading platform being sold to unsuspecting traders. However, broker scams still happen to be the most common. However, should the number of scams in the binary options trading space prevent you from participating in the industry and benefitting from the profits therein? Absolutely not. You only have to get better in identifying binary options broker scams and the points enumerated below should help you do just that.
One thing to look out for before choosing a binary options broker is its regulation. Credible binary options brokers are registered under top regulatory agencies in the industry, such as the Cyprus Securities and Exchange Commission (CySEC), the Malta Financial Services Authority, and the Swiss Financial Market Supervisory Authority. Binary options brokers who attain the UK Financial Conduct Authority (FCA) and the European Securities and Markets Authority (ESMA) can be said to be at the top of the pack. Each binary trading company South Africa, as well as the entire financial market, is controlled and observed by the FBS, Financial Services Board. The Board’s primary duty is to regulate and supervise activities on the binary options South Africa market and the Johannesburg Stock Exchange. If you are looking for a regulated binary trading company South Africa, consider reading our CMTrading Review South Africa. This broker is operated by Blackstone Marketing Proprietary Limited which holds the South African FSB license # 38782.
- Outrageous Promises
If a binary broker makes tall and unattainable promises like 200% payout, risk-free trading, sure winning, then it is most likely that such broker is a scam.
- Terms and Conditions
It is essential you read through each broker’s terms and conditions to know what you may be getting into by signing up with the broker.
Above all, the brokers we outlined above are still some of the best in the industry.
Binre options is a wonderful way to make money online; however, it involves risk and propensity to fall into scams. Choosing the right broker greatly reduces the tendencies for you to fall into these.