BinaryOnline broker is connected with one of the best binary automated trading systems – Binary Options Robot!
New and interesting binary options brokers keep appearing both on the South African market as well as global.
Among the newly available brokers, we also found BinaryOnline which we shall review for South African traders.
This broker is owned by a Bulgarian based company called Zola Ltd.
In our BinaryOnline broker review, South African traders will be able to learn more about this broker and the trading features and accounts it offers.
BinaryOnline General Info – South Africa
According to information available on their site, they provide varied trading services, features and tools which are to be used in order to obtain healthy profits while trading binaries with BinaryOnline.
The first thing we inspected for our BinaryOnline broker review was their minimum deposit requirements and we are happy to say that it is set at $250, an average sum in the binary options industry.
The minimum investment per trade is set at $25 while Hyper trade option allows traders to invest the minimum of $5.
South African traders may use USD, EUR and GBP as deposit currencies.
According to information available on their site, the maximum returns can go up to 81%
BinaryOnline Platform and Trading Features
The research we did for our BinaryOnline broker review also revealed they use Panda TS trading software which is among the most popular ones in the binary industry.
This provides a modern but effective platform which grants traders the access to plenty of interesting and potentially profitable trade options.
The trade options South Africans can choose from include: Range Options, High/Low, One Touch, Hyper, Social as well as Copy Trading.
With BinaryOnline traders also get a range of expiry times which cover short, medium and long term expiry times. For short term, traders can select 30 sec, 60 sec, 2 min, 5 min and 15 min.
For the medium term, traders may select 30 min, 1 h and End of Day while long term provides expiry times such as End of Week or End of Year.
This broker accepts fully traders from South Africa and is connected with Binary Options Robot. This automated software is free to use and offers South Africans possibility to accept or decline trading signals.
This broker provides the usual categories of underlying assets like stocks, commodities, currencies and indices as well as more than 100 variations of those underlying assets.
As we have already mentioned in our BinaryOnline broker review, this brokerage also provides copy and social trading which can be extremely useful for novice traders.
This enables them to follow professional traders and copy their trades.
Mobile trading is another trading instrument available with BinaryOnline. In providing the mobile trading app, this broker has tapped into the requirements of their traders, especially those with busy lifestyles.
In using the mobile trading app, traders have the opportunity to trade binary options on the go. South African traders interested in using this mobile app should know that it is the same as the desktop version.
The mobile app can be used effectively on iOS and Android devices, it is free for registered BinaryOnline traders and can be downloaded from Google Play or App Store.
Another interesting detail we found in the course of our BinaryOnline broker review is that they are connected to Binary Options Robot, one of the leading auto trading solutions on the market.
This provides yet another opportunity for South African traders as there is an increasing number of those who prefer automated binary trading.
Their platform is available in English and Turkish.
BinaryOnline Account Types
The majority of binary brokers today offer several different trading account types.
In our BinaryOnline broker review, we found that three different types of trading accounts are available to South African traders interested in this broker.
In addition to that, this broker also provides the Islamic Account for Muslim traders which is so designed as to respect the rules of Sharia Law.
It would seem that this broker does not offer a demo account as of yet.
BinaryOnline Takeoff Account
- Minimum deposit from $250 – $2499
- Customer support around the clock
- Promotional email alerts
- Daily market updates and news
- Access to webinars and winners’ corner
BinaryOnline Standard Account
- Minimum deposit from $2500 – $9999
- Customer support around the clock
- Promotional email alerts
- Daily market news and updates
- Access to webinars and winners’ corner
- Personal trading expert available
- A 2-week access to free signals
BinaryOnline Premium Account
- Minimum deposit from $10000 – $49999
- Customer support around the clock
- Promotional email alerts
- Daily market updates and news
- Access to webinars and winners’ corner
- Personal trading expert available
- A 3-week access to free signals
- Risk-free trades = 10 in total
- Live trading with an expert
- Higher profits
BinaryOnline Elite Trading Account
- Minimum deposit from $50,000+
- This account provides extraordinary packages to allow traders the highest possible quality of trading
- For all other information concerning this account traders are instructed to contact BinaryOnline team
BinaryOnline Customer Support Service
Quality customer support service is an important part of any binary options broker and in our BinaryOnline broker review, we also inspected this segment.
We can say that they provide a well-organized and professional support as well as several means of communication.
Live chat is the fastest manner of communication, but traders can also use an email [email protected], phone numbers provided for Australia and UK as well as the web form.
The customer support service is available 24/7 and traders can contact them with any questions or issues they have.
We have also been pleasantly surprised when we realised just how many diverse and helpful educational materials this broker provides for their traders. In a sense, the entire platform is just filled with great information concerning binary options trading.
From a detailed FAQ section to Winners Corner which contains everything from eBook on binary options to updates from financial markets and other fantastic assortment of materials.
Traders can benefit greatly from browsing sections such as Binary options 101 and Binary options 201. There is also the Knowledge Area which contains videos, signal, eBook and glossary.
The economic calendar, calculators and videos can be found in Market Insight section.
BinaryOnline Banking
According to information available on their site, this broker strives to provide all the security measures necessary to provide protection of traders’ private and financial info.
To support that, South African traders are advised to inspect the BinaryOnline tab which contains info on Terms and Conditions, KYC policy, Privacy policy etc.
In accordance with the KYC policy, traders have to submit several documents such as proof of address, a copy of the photo ID, investment testimony form and a copy of the credit card used to make a deposit.
Deposit and withdrawal methods available with BinaryOnline are:
- Credit/debit cards like MasterCard and Visa
- Bank Wire Transfer
The withdrawal procedure is simple and all South African traders need to do is log into their account and under My Account select Withdrawals.
Depending on their withdrawal method and the selected account type, it might take from 3 – 5 business days for the process to be completed.
Traders should also be aware that the minimum withdrawal amount for bank wire is $250 with a $50 fee charged for every withdrawal.
For credit/debit cards the minimum withdrawal is set at $100 with a $25 fee charged for every withdrawal.