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Is BinaryOnline a Scam?

  1. BinaryOnline is one of the newer binary brokers which became available for South African traders. It is often the case that any new brokerage is regarded with suspicion which is understandable.

    It takes time for the broker to establish itself and gain traders’ trust.

    However, traders should also inspect this broker more closely instead of just asking themselves is Binary Online a scam or a good investment choice.

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    BinaryOnline is owned by Zola, a Bulgarian company and it provides South African traders with a modern and attractive trading platform.

    Their minimum deposit requirement is the industry average of $250, while a great advantage for traders is the fact that they can invest as little as $5 to start trading.

    This is possible with Hyper option while other options demand a minimum investment of $25.

    Further benefits which indicate that there is no BinaryOnline scam is their wide selection of trade options as well as increasingly popular copy and social trading.

    In fact, just a mere glance at their Panda TS trading platform will immediately show that South African traders are dealing with a broker who provides all the necessary information as well as fantastic customer support service.

    Apart from that, traders can also choose among four account types, multiple payment methods and truly diverse education materials.

    Combined, this info serves as proof that there is no BinaryOnline scam activity as far as we are able to see.

    BinaryOnline App For Handy Trading 

    A staple of all modern binary brokers, a mobile trading app is available to South Africans with BinaryOnline.

    With BinaryOnline app traders have the unlimited freedom to trade binaries no matter their location so long as their Internet connection is stable.

    This is very handy as traders may go about their daily chores and still keep an eye on financial markets and execute trades.

    Financial markets are in the state of constant flux and staying well-informed of the events and changes that take place can have a huge influence on trading decisions and mobile apps are a perfect tool to help in that respect.

    BinaryOnline app is suitable to be used on both iOS devices as well as Android.

    It is easy to download from Google Play or App Store and use to further boost binary options profits.

    With this convenient trading app, traders can access their trading account take advantage of any favourable binary options trading opportunities they notice.

    Is BinaryOnline Safe Broker?

    The question of “Is BinaryOnline safe?” is closely tied up with the one of scam which we dealt with in the opening paragraph.

    However, there is another important element concerned with safety which traders, especially those who have little experience, often forget or neglect – safety measures used on the trading platforms.

    In that respect, BinaryOnline safe approach is without any fault since they use encryption technology and firewalls to offer maximum protection to their registered traders.

    South Africans can easily check this by looking at their address bar which will immediately show their platform is secure. This is shown by the green padlock image and letters HTTPs. 

    In fact, for traders who wish to know more about the protection used on the BinaryOnline trading platform can simply double-click on the URL area.

    A window will open which will give South Africans all the information they could possibly need.

    Further evidence that BinaryOnline safe approach is without a fault is the way they handle business and sensitive traders’ data.

    They enforce KYC policy for all their traders which prevents fraud, money laundering and identity theft.

    Another thing speaks in favour of BinaryOnline investing properly in safety measures – reliable customer support service.

    Brokers who wish to be on hand to their traders, to offer help, guidance and protection will make sure their customer support is top-notch and available.

    With BinaryOnline, traders have 24/7 customer support coverage and can easily establish contact via live chat, phone or send an email at [email protected]

    Another opportunity for South Africans who select BinaryOnline broker is the opportunity to also use Binary Options Robot as this broker is connected to it.

    BinaryOnline Withdrawal Process

    Another segment of trading binaries via binary brokers is their withdrawal process which is why we always address this in our broker reviews.

    Since binary brokers know this is very important for traders they do their best to have simple and straightforward withdrawal.

    We are happy to say that BinaryOnline withdrawal process is fast and simple and should not cause any issues to registered South African traders.

    Before they can initiate the withdrawal process, traders have to submit certain documents like proof of address and copy of the photo ID and a copy of the credit card used for the deposit.

    South African traders also have to fill out Investment Testimony Form which they can download from BinaryOnline platform.

    These documents are demanded from traders due to KYC policy.

    Once all the documents have been submitted, the rest of the BinaryOnline withdrawal is simple since traders need to log into their account and select Withdrawals. 

    Depending on the withdrawal method which can either be via credit card like MasterCard/Visa or bank wire, it can take from 3-5 business days for the funds to be cleared.

    Traders also have to bear in mind that this broker charges withdrawal fees according to the payment methods used.

    For credit/debit cards that fee is $25 and minimum amount for withdrawal is $100.

    For wire transfer, withdrawal fee is a bit pricey at $50, and the minimum withdrawal amount is $250.

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