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About Binary Options South Africa
Since 2008, binary options industry is known to be a rising industry in the online trading world. To the large number of people worldwide, binary options are the top online trading choice when it comes to investing their own money.
Binary options trading is especially popular in South Africa. In the past 7 years, an increasing number of South African traders is visible who want to join in and start their binary options journey.
Why are Binary Options Popular in South Africa?
Binary options are type of options with a fixed payout and it is actually yes or no bet. Entire trading process is based on the fact how well the prediction of price movement of certain asset will be. If the predictions are correct, traders win and if not, traders will experience money loss, and it is important to emphasize that it is known in advance what can be potential loss.
Basically, if traders place a trade above the strike price, it is called a Call option and if traders place a trade beneath strike price, then we are talking about Put option.
Traders from South Africa can search our site and find needed information about how to improve trading expertize, how to minimize potential loss and improve trading skills. The thing that all traders find very appealing is the fact that with binary options trading, it is possible to maximize profit in a short period of time, ranging from 65% to 95% payouts.
Majority of trusted brokers reviewed by BinaryOptions.org.za offer a wide selection of trade options and a variety of underlying assets for South Africans to choose from.
To have a possibility to use multiple trading tools and services, with a little time, it is most likely that traders will be confident enough and use several different strategies in order to increase their chances for higher profits.
Is Binary Options Trading Legal in South Africa?
Our readers will be happy to know that binary options is legal in South Africa. Many binary brokers offer their trading platform and services to South Africans. An increasing number of binary brokers are present on South African market and therefore, traders can register with these reliable brokers and start trading binary brokers.
A lot of traders worldwide wonder if particular broker is regulated or not. Regulation licence provided by CySEC is the most popular one with HQ in Cyprus. We can distinguish brokers whether they obtain CySEC license or if they are “offshore” brokers. By that we mean brokers who are not regulated and they offer their services in those countries where regulated one can not, such as USA.
Regulated status doesn’t mean that brokers who have regulation license by definition are trustworthy and those who don’t are scam. This just means that regulated broker do have to follow certain rules and obey European laws, that are in accordance with regulation licence. Unlike them, brokers who participate on South African market and several others are in most cases to be trusted.
On Binary Options South Africa, we have a list of reviewed reliable binary options brokers, some of them are regulated and others are not. But they do have one thing in common and that is the fact that we haven’t received any reports of them being a scam.
Is is Safe to Trade with Binary Options Brokers?
South African traders can join broker’s platform and deposit with them in order to start trading process. Such binary brokers offer their traders a high level of safety and ensure traders that their personal data and financial information are secure and not shared with third party.
Some brokers operate from Europe while other from other places. In terms of security, it is recommended to first read several broker reviews and experiences of other traders to see if you are dealing with trustworthy broker. By our opinion, a reliable broker will have a transparent site where traders from South Africa and elsewhere can easily find all needed information regarding terms & conditions, bonuses and payment options.
Most of South African traders choose European countries as they have set rules to secure investors’ funds. European Union countries are bound to follow MiFID laws defined by Financial Instruments Directive. Side by side, these rules to follow, there are certain rules and regulations of all countries which make binary options trading more secure, appealing and profitable for traders.
It is better for traders to get detail about Binary Options South Africa and choose the right brokers and stay away from fraudulent and scammers.
Before selecting a broker for investment, contact with customer service to know if they have trading platform for South African traders. Due to strict payment options and taxes, most of brokers avoid offering their trading platform to offshore traders especially from South Africa. Ask about payment methods and withdrawal options to get proper information about an important segment of binary trading.
How to Spot a Trusted Binary Options Broker in South Africa?
A mentioned above, security is a priority in terms of binary options trading. Safety of traders funds in deposit and withdrawal process should be the main activity when conducting online business.
This is why reliable brokers, reviewed by us, have high security level, usually it is SSL encryption for protection trader’s personal data and funds on broker’s account.
But there are some, let’s say, alerts by which it is possible to determine is a particular broker scam.
For example, brokers who have stated they give payouts in height of 100% or those who don’t share important info on their website, such as terms and conditions, bonus terms etc. In online trading business, it is important to conduct a transparent business for traders to feel their funds will be safe and personal data not to be shared with anyone else.
So the main thing is to gather a lot of crucial information and reviews to check if the chosen broker is truly trustworthy or a scam.