With the appearance of binary options industry in 2008, a lot of binary options brokers emerged on the market. Nowadays, only a few brokers offer binary options trading platforms and a variety of trading services. The most important thing that traders from South Africa can do to achieve success in the trading process is to determine by which features can they find binary options broker that will suit their needs. Especially when you enter in binary options industry, it is always a good thing to start with a success and avoid a scam.
Binary Options Brokers List 2020
On binaryoptions.org.za, we try to provide our readers with useful information and tips that may lead to success in trading binary options and provide the latest news on binary options brokers. Below you can find a list of interesting binary options brokers that offer a wide range of trading instruments and services that binary traders in South Africa can choose from.
When traders in South Africa search for a good binary option broker, they usually read many binary option broker reviews. It is always recommended to do so, but traders should keep in mind to search for the source of information. Objective review is usually more valuable when traders find it on established binary portals. We advise our readers to check our IQ Option review South Africa and Deriv.com review South Africa, as well as other binary broker reviews in very detail so they know if a particular broker suits them and provide services that traders can use during the trading process.
One of the most popular binary option brokers, 24option does not offer binary trading anymore, and another big name in the industry, binary option broker Banc de Binary, was closed. However, there are still several trustworthy binary brokers that provide binary option trading to traders from South Africa.
Best Binary Options Brokers in South Africa
We are happy to offer our traders a list of well-known binary options brokers who operate on the South African market. Many globally known and recognized binary brokers offer modern trading platforms with numerous features and services. If traders follow our tips and advice, we truly believe they will not become victims of scams in the binary options industry.
The two brands that are leading the race now are definitely IQ Option and Binary.com. Both brokers offer multiple trade options with different expiration times for trading with underlying assets. Brokers also offer very useful services, such as binary options demo account, mobile trading and many more trading features. Traders in South Africa can enjoy the benefits of both Binary.com South Africa and IQ option demo account. Binary options registration with a reliable broker is always simple and transparent. A proven and trustworthy broker features deposits and withdrawals from and to a long line of well-established payment methods, including bank transfer, debit and credit cards and e-wallets, such as Skrill & Neteller South Africa, Webmoney South Africa, as well as many other safe and certified e-wallets. Banking and security of funds are the main characteristics that distinguish is a solid broker from a scam such as Trevor Noah Bitcoin Revolution. If the deposit and withdrawal process, together with good customer service, meet standards, then you are most likely dealing with a binary options broker with which traders may experience a profitable trading journey.
Binary Broker Features
One of the most important questions that raises interest of all binary traders is how to choose the best binary broker. The first thing you should be aware of is transparent business. Check binary broker sites to see if they look spammy and have no clear explanation of terms and conditions. It is never a wise choice to do binary options registration with a binary options broker who doesn’t conduct transparent online business. Also, if a broker promises their traders a 100% payouts in a few minutes or hours and emphasises how that is guaranteed, we can consider that to be a scam.
Binary options trading isn’t as risky as forex trading, but of course, a certain risk level is involved. When you are dealing with a binary broker who says there is no risk, you should be on guard. Instead, reliable brokers will have a transparent site available and if you contact their customer support, they will most likely be at your disposal.
Although regulatory status is somewhat important because it does provide South African traders with a certain level of security, it is not a guarantee. Just like in everything else in life, there is no black or white. The same can be applied to the binary options trading industry. Not all regulated brokers by default are reliable and all offshore brokers scam. When we review brokers, we check their trading platforms and customer assistance and after we take all the features into consideration, we put them on our whitelist of potentially interesting brokers for South Africa.
Further in our guide, we shall present the best qualities of binary options brokers in South Africa the hopes of not just making the initial selection a bit easier for South Africans interested in binary options, but in selecting the best broker to aid them to secure overall profitable trading experience.
Security of Binary Broker Trading Platform and Funds
One of the first things South African traders should look out for is the security a binary options broker provides on their trading platform.
In fact, there is a little trick every trader can use – just look at the URL area and if they can spot the letters HTTP and a small green padlock that is the immediate indication they are dealing with a broker which uses protection on their site. Of course, it is advisable to go beyond that and browse sections such as FAQ, Terms and Conditions as well as Security.
More and more brokers have a section which is completely dedicated to describing to potential traders which sort of security they use on their trading platforms. In most cases that is the so-called SSL protocol or Secure Socket Layers which basically encrypts all data being exchanged (financial and personal information) on the platform and makes it safe.
Additionally, South Africans looking to trade binary options should always look for a broker which keeps al trader’s funds in a segregated bank account.
Interested traders should try to be as thorough in their research as possible and if there are some additional information they want on the safety protocols used with a specific broker they should not hesitate to communicate with customer help desk either.
Binary Broker Professional and Available Customer Support
Since we already mentioned customer support we should like to expand further on this point so that South African traders get the full picture of why that is among the best qualities of binary brokers.
Customer service is the traders’ immediate link to the broker themselves and they are the first that a trader will get in touch with if there is a problem or if they have additional questions. If a broker is dedicated to their traders they will not cut corners when it comes to customer help but will instead aim to have the best possible team of agent available to their registered traders.
With most brokers nowadays, South African traders will have several options of communication with Live Chat being both the most popular as well as the quickest solution.
Brokers such as Binary.com and IQ Option provide several means of communication like live chat, email, web form and phone and, in most cases, also provide 24/7 customer assistance.
So, before settling for a certain broker, go online and chat with their customer service to judge the quality of their response.
Binary Broker Demo Account Availability
It is never easy to take on a new thing, and the same is applicable to trading binary options.
Despite the fact, this is one of the simplest forms of financial trading it can still be tricky for South Africans which have never done this before.
For that reason, demo account is also listed among our best qualities that binary brokers in South Africa have.
The demo account can be an incredibly useful tool for budding binary options traders because it provides them with the unique opportunity to practice their skill set in a safe environment.
This is possible since the funds on the demo account are not real but virtual and traders do not face the potential risk of money-loss.
In most cases, the demo account is either the same as the real trading account or it is the approximation of the one. At any rate, with the demo traders get to learn how to navigate the platform and acquire at least the basic skill set which they can later use in actual binary options trading.
Binary Brokers Qualities
Another aspect which can be put under the best qualities that binary options brokers in South Africa have is the variety of trading account types the offer. Naturally, that does not mean that binary brokers who offer only one or two types of accounts are bad or a scam, but having a healthy variety to choose from provides prospective South African traders with more options.
In general, account types do not just vary on the minimum deposit but also according to a specific set of trading features and benefits included within each account type.
That is why we advise South Africans looking for a broker to carefully study this section on the broker platform.
A Variety Trading Tools and Features
As with the trading account types, just because a broker offers plenty of tools and features does not automatically mean they are the best broker.
However, it does point to the fact that this broker put additional effort into providing their traders with additional help which can help them in making the binary options trading journey more profitable.
So, taking a look at what tools and features broker offers can also be a good pointer when it comes to best qualities of binary brokers in South Africa. Aside from the mentioned demo account, traders can also check if the broker offers a mobile trading application.
This is a fantastic trading tool since it enables traders to trade on the go and constantly monitor the market circumstances but without the need to be constantly behind a computer.
With advanced technology, mobile trading apps are just as efficient as standard trading platforms and most brokers provide the app for both iOS and Android mobile devices.
60 Second Binary Options
This option has been present in binary trading almost since the very beginning and it has become rather popular among numerous traders, which is the reason why many brokers offer this option on their trading platform.
While traders can profit by trading binary options with 60 seconds option not all will be successful.
The explanation is rather simple – this option demands careful investment and careful monitoring of the market in order to catch potentially profitable opportunities as they occur.
A solid market plan paired with favourable market conditions can make using 60 seconds trading option a very profitable one for South African traders.
Binary Brokers with 60 Second Binary Options?
The ultimate goal of any trading venture is to make profit and the same is true for binary options trading. However, despite all the information which can be obtained from expert traders who have had very successful trades using 60 seconds option, it is not possible to guarantee absolute success.
The guiding principle of trading binary options with 60 seconds is to gain profits in a brief period of time guided by knowledge about market movements and using that to correctly predict what will happen in the future is just as important.
None of the above-pointed factors can be attained overnight. Yet, observing other traders can be of great benefit since it enables novice traders to learn about binary options trading at a faster pace.
Another important aspect should also be kept in mind at all times – it takes time to become a successful trader so it is advisable to set a realistic goal. For that reason, we advise South African traders never to invest all available funds at once. Instead, traders should take some time and calculate how much they can stand to lose (should the trade fail) and how this potential loss might be rectified in the future.
One way to approach that is to select a reliable broker which offers trading binary options with 60 seconds. Among those who have a long-standing reputation as one of the best binary brokers on the South African market are Binary.com, IQ Option, Binomo and Olymp Trade.
Frequent and swift market changes are a fact and South African traders are strongly advised to test a selected treading platform when it comes to its accuracy. It is possible to profit from this option but it is also important to understand all the aspects involved in trading binary options with 60 seconds.
VIP Binary Options
VIP binary options service is one of the privileges of binary options with trustworthy brokers. Traders who want to experience maximum in this industry, can select vip binary options as a way to experience the most from binary options broker.
Many binary brokers offer their traders VIP binary options service with many additional available trading mechanisms and features. To be entitled to binary options VIP status and treatment, traders in South Africa have to invest larger sums of money to be able to enjoy the perks of VIP binary options service with their binary broker.
The benefits of the VIP binary options status are:
You will have access to the individual competitive prices. This accessibility will depend upon the investor’s trading volumes.
All the options and the trading opportunities are offered to VIP binary options trader. This is done to make sure that these traders have a better chance of earning more money. Their trade won’t clash with any other trader and their bids.
If the trader has some problem, the customer support team will take care of that problem. They will also make sure that the traders feel like customer support is here exclusively for their personal requirements.
The trader will have access to the client service offered by the website. This service will be offered for 5 or 7 days a week for 24 hours. So, if the trader has any problem that will be solved with much more promptness than the regular trading problems.
There will be a local telephone number accessible to the VIP trader and it will provide direct access to the dealing room. This way, the trader will be able to have better results and more money.
Being a VIP binary options trader will provide you a personal account manager with a binary options broker
You will have access to a lot of high quality and level of publications.
Best Binary Trading Software
It all starts with trading software that provides traders to use the broker’s platform without any difficulties.
Binary options trading is great way for South Africans to possibly achieve success while trading in a short span of time. It can range from 60 seconds, over minutes to the expiry of end of month or even more. There are numerous of trade options and a wide range of expiration times to use in the trading process.
For inexperienced or busy traders, it is a perfect tool that can generate satisfactory results.
Binary Trading Platform
Since binary options trading is a dynamic online investment, we have compiled a list of well-known and safe trading platforms, used by trustworthy binary brokers who operate on South African and global markets. Keep in mind that some of the binary trading platforms listed below no longer provide software for binary brokers. We all know that practice makes perfect, but there are always some binary trading tips that can help you touch up your trading skills even more.
Below you can see the best binary trading platforms:
Proprietary trading platforms
SpotOption Binary Options Trading Platform
SpotOption was known as a global platform provider of binary options. SpotOption was established in 2010 and they became very successful thanks to providing high standards on its platform combined with top security level.
Their services were used by more than 250 brands globally and held even 70% of the binary options market.
For their clients, SpotOption offered excellent features and customized platforms, which was a great way for traders to get the most out of binary options trading. For South Africans to be able to use the SpotOption platform, the download was not required.
With SpotOption software, traders could experience following trading features:
Double Up – a tool used to double the trade if you are certain you are going in the right direction (under the same conditions as the previous trade)
Rollover – when switched on, traders can delay the expiry time if they aren’t sure about the price direction
SpotFollow – provides traders with a possibility to copy the trades done by other traders
OptionBuilder – a feature that enables you to create a new option the exact way you want (personalized trade)
SpotOption no longer provides any binary brokers with their binary options trading platform.
TechFinancials Binary Options Trading Platform
This platform provider appeared in the binary industry back in 2009. It was one of the first binary platform providers and its software was also widespread among many brokers we have listed on our site.
To traders in South Africa, the TechFinancials platform offered customized software with a variety of different tools and features which could be easily used.
More than 100 000 trades were executed per day on the TechFinancials platform. Traders could also use mobile application, for simple trading process.
Available trade options with TechFinancials were: One Touch, High/Low and Boundary options. Tools such as Spot, Ladder and Option Pricing were also available with this platform provider.
TechFinancials no longer provides any binary brokers with their binary options trading platform.
Proprietary Trading Platforms in the Binary Options Industry
In recent years, more and more brokers have turned to their own proprietary platform, which is clearly visible in the South African binary market. Several respected brokers offer proprietary platforms for trading binary brokers. They are:
The idea behind own proprietary platform is to create a custom-made platform, specifically designed with its own tools and features available. Such platforms are completely designed according to traders’ preferences, which contributes to better trading results and greater success. For example, Binary.com minimum deposit is one of the lowest today and it allows traders to start their binary trading experience with low starting capital.
The above-mentioned brokers are regulated and licensed by the CySec authority, which shows how committed they are to ensuring high safety standards.
Each proprietary platform is different from another, however all of them are simple to use. This is definitely the most important element of proprietary platforms in binary options trading.
For more details regarding the best binary trading platforms, we recommend that you read their reviews and get a better insight.
Tradologic Binary Platform
Tradologic was another one of the best binary trading platforms.
They were established early, in 2008, together with the appearance of the binary options industry. RBinary was one of the popular brands who operated on Tradologic platform.
Traders who used this platform provider had customized user-friendly interface on disposal. They also offered a mobile app that is now very popular and often used by many South Africans who invest in binary options.
RBinary offered registered traders a selection of different trade options, such as High/Low, Touch/No Touch, Boundary, Binary 100, Touch Up/Down, Matrix MultiX and Turbo Options. Other available features are: Rollover, Double Up, Re-Strike, Close and Insurance.
Tradologic no longer provides any binary brokers with their binary options trading platform.
PandaTS for Trading Binary Options
PandaTS is online since 2007 with a goal to offer traders modern and easy to use trading platform.
While reviewing them, we discovered they offer a mobile version of the platform, compatible with iOS and Android systems. Also, they offer following trade options that can be used to maximize profit: Touch Options, High/Low, Turbo Options and Range Options.
PandaTS no longer provides any binary brokers with their binary options trading platform.
Leverate Binary Trading Platform
Leverate platform is another one from the best binary trading platforms that were present on South African market. They have more than 100 brands who rely on Leverate platform and 100 000 traders who use it.
TradeThunder was a popular binary broker, available in South Africa who operate on Leverate platform. With BX8 platform, traders could experience modern and easy to use design that simplifies trading process for registered traders.
On this platform, it was possible to use 60 Seconds and High/Low trade options. Another thing worth mentioning on Leverate platform is One Click feature – when activated, gives possibility to execute trades immediately.
Leverate no longer provides any binary brokers with their binary options trading platform.
Binary Option Broker With MT4 Platform
South African traders are able to use their binary option broker with MT4 platform for investing in binary options, forex and CFDs.
With MT4, registered traders in South Africa are able to experience trading in three chart types, a selection of technical tools and indicators as well as option to use customized trading platform.
The main benefit of MT4 platform is possibility to watch financial markets more closely and be able to make a more accurate trading decision about the right time to open a position.
Regulated Binary Options Brokers
In order to narrow the choices, traders have to select preferences and broker’s characteristics that suits them the most while trading binary options. One of these preferences is a dilemma, whether to choose broker with regulated status or without one?
Binary options brokers have been subjected to quite a bit of scrutiny lately, with some legal jurisdictions putting the introduction of new brands on hold until a proper regulatory framework is worked out. Even though SARS and binary trading tax South Africa are pretty clear, at this point, it seems inevitable that some of the currently open markets out there will move to totally ban and block binary options trading operators, as there are experts who firmly believe that the activity is in fact nothing more than another form of online gambling.
There has been quite a bit of interest in regards to developing an appropriate legal framework in order to regulate binary options trading too though, and there are already binary brokers out there which are indeed regulated and operate within the bounds of various jurisdictions all over the world.
The whole regulatory process in regards to binary options trading is only a couple of years old, so at this point, it is clear why traders have questions regarding this topic. Still, there’s a handful who are already fully regulated and authorized to offer the product to their traders, and beginners should definitely stick to these operators, because trading with a regulated binary options broker carries quite a few major benefits.
Reputable regulated brokers like Binary.com and IQoption with their low IQ Option minimum deposit in South Africa, offer their traders worldwide a whole set of different trading instruments and service, available on their platform.
In binary options industry, regulated binary options brokers offer much better transparency and the very fact that they have been granted a license by a state authority lends them quite a bit of credibility. Although the majority of binary brokers – whether they’re licensed and regulated or not – do indeed play by the book, regulated entities have their operation overseen by a central authority like CySEC (Cyprus), the FSA (UK), FSCA (ZA), MiFID (EU) and CFTC (US). In case of foul play, traders can always turn to the licensing authority with their complaints to seek justice.
The rules set by the regulating authorities are strict and unforgiving and no breaches are tolerated. Such rule-breaking carries heavy fines and dire consequences in more ways than one for the broker. The broker can even lose its license, a blow no binary options operation should theoretically be able to survive.