Considering the popularity of binary options trading on the South African market we have spotted another potentially profitable and interesting binary broker – OptionStars.
They are a brand name of New Markets S.A, Samoa. We also found that with this broker, traders may trade Forex as well.
This broker has been present on the market since 2015 and in our OptionStars broker review, we shall present South African traders with the essential info concerning this interesting broker.
OptionStars General Info – South Africa
Naturally, one of the first things we looked into for our OptionStars broker review is their minimum deposit and we are happy to report that it set at $250, which is the industry average.
While all the usual payment methods like E-wallets and credit/debit cards are available, all traders who wish to deposit via bank transfer must first contact their account manager.
Currencies available for the deposit are GBP, USD, CAD, AUD and EUR.
Minimum investment per trade is set at $10.
According to the information available, the payout can go up to 85% which is an attractive possibility for South Africans looking to make healthy profits.
Traders would be glad to know how this broker is connected with one of the best auto trading software in binary industry – Binary Options Robot.
OptionStars Trading Platform and Features
The next step in our OptionStars broker review is their trading platform, and it would seem that they make use of the Tradologic software which is one of the popular trading software on the market.
The trading platform itself is simple, easy to use and provides a clear overview so South African traders should not experience difficulties. However, if they need help, customer support service is on hand via Live Chat.
OptionStars trading platform provides traders with a fine choice of trade options such as Digital, Range, Touch Up/Touch Down, Turbo, One Touch, Advanced as well as Forex and 5 Ticks.
In our OptionStars broker review, we also discovered traders have a great choice of expiry times. The expiry time range starts from extremely short 30 seconds of 60 seconds and stretches over 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours and 1 day.
Naturally, they also offer a great selection of underlying assets divided into currencies, stocks, commodities and indices. To inspect which underlying assets this broker has to offer, traders are encouraged to consult the “Asset Index” tab but we find the sheer number, more than 250, truly impressive.
Further enquiry in our OptionStars broker review took us to their available trading features and tools. As would be expected from a modern binary broker, they do offer a mobile trading app.
This is fantastic news for all busy South Africans who would also like to trade on the go.
The benefits of using the OptionStars mobile app are numerous and they stretch beyond the fact that traders have the opportunity to trade binaries regardless of their location. With a mobile trading app, they can also keep constant watch on the market and may execute more trades which also increases the possibility of profits.
OptionStars made sure that their mobile trading app is available for both iOS and Android device owners and it is possible to use it on tablets too. South African traders can download the app from both Google play and App Store and install it on their mobile device.
In our OptionStars broker review, we also found that they provide their traders with a demo account. Their customer support agent confirmed that their demo account is free and can be used once trades hold a real trading account with the broker. For further details, traders will be directed to their account manager.
Yet, this is great news for all interested South African traders as this is the perfect environment for practice.
The demo account has virtual funds instead of real ones which makes it a risk-free trading environment where traders needn’t worry about losing funds.
Instead, they can aim all their focus on testing various trade options, underlying assets and strategies. This can serve as a great introduction to binary options trading and provide traders with a valuable insight into the trading process itself.
While the demo account is not a trading tool but rather a feature, the practice and experience traders can gain in using it may increase the probability of making profits on the real trading account.
Additionally, in our OptionStars broker review, we can confirm this brokerage provides their traders with an Academy tab. It contains plenty of useful materials traders may use for educational purposes.
They also provide a detailed FAQ section which explains the most important aspects of trading binaries with OptionStars.
Their trading platform is available in following languages English, French, German, Italian, Russian, Arabic and Spanish.
OptionStars Trading Account Types
Aside from the already mentioned demo account, this broker also offers additional three types of trading accounts.
Our OptionStars review shows that South African traders have distinctly different features available with each account type.
Our experience with their customer support service using Live Chat is positive as their response was swift and professional as well as friendly.
According to them, South African traders can reach the customer support service 24/7.
OptionStars Banking Info
Finally, we also inspected their banking policy for our OptionStars broker review.
We found that both their deposit and withdrawal methods are simple as well as safe. They utilise 128-bit SSL encryption system which is provided and approved by “GoDaddy”. According to information on their site, they also keep all traders’ funds in the segregated account.
Since this broker keeps with the KYC policy, South African traders will have to provide documents such as the copy of the passport as a proof of identity, the copy of a utility bill as a proof of address as well as the copy of a debit/credit card used to make the deposit.
Traders are advised to provide these documents as soon as possible.
The payment methods available to traders are:
Bank Wire Transfer
Credit/debit cards: Visa, MasterCard
E-wallets: Skrill and Neteller
Withdrawals are initiated via traders which have to go to “My Account” and then select “Withdrawal Requests”. The withdrawals may take from 2 – 5 business days to process and the minimum amount traders may request is $30.
First withdrawal each month is free while all consequent ones are charged with $30.