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How to Choose Binary Options Brokers in South Africa?

How to Choose Binary Options Brokers in South Africa?

Choosing safe and reliable binary broker is the most important factor in binary options trading.

With many binary options brokers available on South African market, traders can select preferred one according to trading instruments and features these brokers provide.

In this article, we will cover all relevant elements of trusted binary options brokers in South Africa.

Traders can get clear overview of the most important segments of successful trading and how to choose the right broker with whom traders will be able to achieve high payouts in binary options.

If you want to trade with a regulated broker, definitely try IQ Option – the most popular broker in South Africaiq option banner

Importance of Binary Options Brokers in South Africa

South African traders can experience profitable binary trading journey with trusted binary options broker present on South African. Here on our list of binary options brokers in South Africa, traders can find many brokers who accept South African traders; some are CySec regulated while others are not.

However, it is important to note that we pay a lot of attention on Binary Options South Africa to promote only trustworthy brokers. This way, our readers can avoid scam and unpleasant trading experience.

Regulation Status

As mentioned above, South African traders can choose whether they want to trade with regulated broker or not. Regulation is not obligated and binary options brokers in South Africa can decide do they want a regulatory licence or they think it is not necessary. For more on regulation of binary options in South Africa, read our article here.

Brokers, such as Banc de Binary, 24option, Daweda ExchangeOpteck and IQ Option are just some of regulated brokers available for South African traders.

CySec stands for Cyprus Securities and Exchange Commission and its licence ensures investors to have a safe trading experience and they provide brokers a set of rules and regulations that they have to follow.

CySec supervises and monitors business conduct of regulated brokers and pays attention of their behavior in relation with investors.

Traders should know that it does not mean that unregulated brokers by default are scam. because that’s not the case. As stated above, regulatory status is entirely up to the broker and their goals and vision.

These brokers are trusted ones and present on South African market for a long time ago without any negative reports. Therefore, we strongly recommend traders to carefully read all broker reviews and see what types of trading tools and features these brokers offer and based on that, select preferred trading platform.

Terms & Conditions

In binary options trading, as an online investment, safety is the main thing most traders are interested in. This is why it is very important to wisely choose trustworthy broker with whom traders can have positive experience from the start.

Often traders wonder, is there a way how to spot right away is particular broker a scam. We advise our readers to invest little more effort into checking the review and their site to get a whole picture of the platform. But to start, traders should first check broker’s terms and conditions.

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Today, a lot of traders just click Accept and don’t even read terms & conditions of a specific broker and we find this as a big mistake.
That is because terms and conditions should provide traders a complete and detailed information on available trading features and instruments. By not reading it carefully, South Africans can miss on the important segment of trading process.

In case traders have any questions after reading terms & conditions, the best thing would be to contact their customer support and get needed explanation. 

Customer Support and Education 

While choosing best binary options brokers in South Africa, customer support service is one of the main features important for successful binary trading process. Having up to date customer support, South Africans can get needed information during trading process, from how to deposit and withdraw funds to what tools and features can be used.

Brokers, such as StockPair offer various ways of how traders can get in touch with them, including email, live chat, web form and phone. Depending on the broker, customer support is available on other languages, besides English.

Easily reachable customer support is significant in the trading process, especially for new traders who lack experience and who have a lot of questions regarding binary options trading.

Education Center is also considered as one of the main elements in profitable binary trading. While selecting preferred trustworthy broker, traders should keep in mind that a variety of education materials is very useful for registered traders.

With the help of Education Center, South Africans can learn more tips and tricks about binary options and be few steps closer to maximizing profit.

Brokers, such as Opteck have an exquisite Education Center where traders all levels have access and can benefit from it. These education materials cover both relevant topics and strategies for beginner trading and advanced trading. This way, all levels of trading knowledge is completely covered.

Education materials include features, such as ebook, market news, economic calendar, different graphs and charts, numerous short term and long term strategies, guide articles etc.

How to Deposit and Withdraw?

Both deposit and withdrawal process are very important when selecting best binary options brokers in South Africa. Brokers who have unclear terms and conditions and bad reviews are not good choice to pick.

Trustworthy binary broker will list available deposit and withdrawal methods and provide detailed information for deposit and withdrawal procedure.

Read here our article for more on payment methods available in South Africa.

safe tradingTo get access to trading platform, traders first have to register. Each trusted broker will ask for few documents to confirm identity of the traders.

Scam broker often don’t pay attention to the procedure and later on, traders may experience bad business conduct while withdrawing funds. These documents are: copy of photo ID, proof of address and copy of credit card, if it’s going to be used in the trading process.

Reliable brokers from our broker list, use highly developed system of security, such as SSL encryption technology. Brokers who promise traders payouts right away should be taken with good watch.

Usually, it takes few business days from the time when broker receives and confirms withdrawal process to the time when money arrives on traders’ account. It can take up to 5 business days, with most brokers.

But to be absolutely sure, it all depend on a particular broker and chosen account type, since each account type has different characteristics.

Trading Features and Services

When choosing the best suitable broker, traders in South Africa should pay attention to what trading instruments and features are available. Reliable binary options brokers in South Africa offer many different services and trading tools to be used during binary options trading.

They include demo account, a variety of assets, trade options, number of trading accounts, mobile application, bonuses etc. All these features can be of great help while trading and if used properly, can lead to a high payouts in binary options.

Brokers offer South Africans a wide selection of different assets, including stocks, currencies, commodities and indices. By offering a lot of assets, traders can diversify and trade with different assets on different markets to increase chances of winning. One of benefits broker offer traders in South Africa is bonus.

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Bonuses serve as great way to maximize profit in a way that they motivate traders. They may come as welcome bonus or redeposit bonus. Bonuses are not obligatory and they usually come together with a bonus terms that require a bonus turnover. It can be 20x or 30x and only after that, traders can withdraw their funds.

Also, trusted brokers offer a set of short term and long term trade options, such as 60 Seconds, High / Low, Boundary, One Touch, Ladder etc. Combined with them, traders need time of expiry and they can choose among those that expire in 60 seconds, hours or up to 150 days. All these depend on the particular broker and its trading platform.

Demo accounts and mobile app are one of the most popular features in binary options trading.

Trustworthy brokers, such as 24option, IQ Option and many more provide these services to their registered traders. With mobile app, traders can trade from anywhere and invest not only via computer, but on tablets and smartphones as well. They can get the app via Google Play or App Store.

Demo account is a very valuable service that has a lot of benefits. Demo is mostly used by traders beginners because it allows traders to test the platform for traders to get the touch of how real trading will look like. Both 24option and Banc de Binary offer demo to their traders.

On demo account, there is no risk involved since brokers ensure traders with a specific amount of virtual money. This is a great way for traders to trade with different assets and use strategies with no risk. The main goal is to practice and gain more trading experience for later on to invest in real account type and start profiting.

How to Choose Binary Options Brokers in South Africa?