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Binary Options Trading – South Africa
Welcome to Binary Options South Africa – portal for binary options trading and all information related to binary options industry.
Binary options trading is popular in South Africa and our priority is to provide you with the quality trading services and up to date reviews of the best binary options brokers reviewed by us in the industry.
We give our best in providing our readers the latest news on financial market, as well as popular binary strategies and list of guide articles.
New: In order to serve a wider audience, we have added a Forex and CFDs section – learn how to trade these instruments and choose the best forex broker of those we have reviewed!
If you are interested in trading underlying assets on financial market and you want to increase your chances for potential earnings, this is a website for best binary information on South African market.
Those interested in binary options trading can find on our site a variety of useful topics and list of reliable binary options brokers reviewed by us. B esides useful trading data and information, South African traders can check our Binary Robots section and know more on what is binary auto trading and how efficient can it be in the trading process.
Awarded brokers in South Africa
- Min. Deposit
- Min. Invest.
- Trade Now
- Broker Review
Main focus of Binary Options South Africa is to provide our readers with the accurate and updated reviews of popular binary options brokers. We have reviewed all brokers from the very beginning to the final step; withdrawal process. Issues like customer support services, security of funds and simplicity are the most important elements in binary options process and if they are on the highest level, traders stand a chance of achieving success while trading binary options. Here on Binary Options South Africa, you can take a closer look on our Binary Guide and Binary News sections, where you can find a wide selection of articles and information that can be of great help during trading process.
When visiting our Binary Robots section, you can know more on binary options auto trading and its importance in binary options industry. Auto trading software is considered to be a novelty in binary options trading and we believe that our South African investors will continue to be satisfied with provided information and latest updates on financial market.
Binary Options Trading – Find the Best Binary Broker in South Africa
Binary options are options with two possible outcomes; will the price of an underlying asset rise or will it fall. Trading binary options has fixed payout and expiry time. Back in 2008, when binary options industry appeared on financial market, it quickly gained popularity among many people worldwide, interested in this new type of online investment. Binary options trading is very attractive for people in South Africa, interested in binary options. We try to provide the best useful information that can help investors in South Africa to deposit with a particular broker and start their binary options trading journey on the best profitable way.
Trading binary options has many advantages for South African traders. On our site, you can check the list of binary brokers and their reviews in accordance with information in them, regarding trading platfform, payment methods and available binary options features. Transparency and facility of binary options trading are among the most important elements in trading process. For this reason, it is crucial to provide you the accurate and up to date information on all things relevant to binary options industry.
Binary options trading is completely legal and available to interested investors in South Africa. A variety of binary options brokers offer numerous trading instruments and services for investors worldwide. Information such as binary strategies and guides can be easily found on the top of our website. In our reviews on Binary Options South Africa, investors can choose an appealing trading platform and start their journey in binary options industry. With the use of multiple binary features, available on the site, we believe that our South African investors may enjoy in binary options trading experince. Check our list to see which brokers to avoid.
*Amount to be credited to account for a successful trade.Best Binary Options Brokers 2020:
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Binary Options Trading – The Best Binary Brokers, Robots and Signals in South Africa
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Binary Options South Africa
Best Binary Options Robots – South Africa
The goal we have set up is simple – to put together only those robots and binary brokers in the binary options industry which offer unique and effective trading features.
We are creating a place where South African traders can get informed and stay informed about trading solutions on the market which provide satisfactory trading experience.
Here, South Africans can learn what they need to know when they start looking for binary brokers or robots.
Find out about interesting trading features, handy apps and distinctive settings which stand out from the rest.
Our site has a mission to review binary brokers and robots for traders in South Africa and allow them insight into the exciting world of binary options trading.
Secure Trading with Nothing but the South African Brokers and Robots Reviewed by Us
As one of the fastest growing trading markets in the world, South Africa has virtually hundreds of various brokers, automated binary robots and signal providers to offer to interested traders.
One would think such a wide choice would make the selection easier.
Yet, it is not quite so.
The first step toward success in binary options trading, be in with binary brokers or robots, is to know what to look for.
After all, what South African traders opt for in terms of trading software or broker can mean the difference between a plush bank account or an empty one.
What are Binary Options?
The opportunity for the public at large to trade binary options appeared in 2008 which caused an outright revolution in the trading world.
What are binary options and what makes them so appealing?
Binary options are a form of online trading which have an expiry time, two basic possibilities when it comes to underlying price direction and a fixed return.
The fact that attracts so many to binary options is multidimensional – the investment is affordable to the “Average Joe”, the basic principle is simple as the price of the underlying asset can go either up or down and it is all happening online.
Additionally, the trading can be done from virtually everywhere in the world where the internet connection is stable and traders may use all kinds of fantastic trade options and tools so it becomes much easier to understand the interest binary options draw from people.
There is a longish list of trade options which can be used such as the newbie favourite High/Low, 60 Seconds, Pair Options, Range Options, Ladder Options, One Touch…
Another point in favour of trading binaries is that traders know the risk, the profit and the potential loss in advance which makes money management much easier. The possible payouts are very attractive as well.
Traders are the ones who set the underlying asset’s price direction and its expiry time.
With all the benefits, it is understandable that many on the South African market wish to participate so the question how to do that is important. However, what prospective South African traders have to know before they start is that this form of trading is suitable for all.
Benefits of Successful Binary Trading in South Africa
Naturally, there are other forms of trading available on the market like Forex, yet binary options are far simpler and the possible gains go higher.
With binary options, South African traders have the absolute control when it comes to their trades and they also know the risk involved. Another aspect of binary trading makes it a very appealing prospect – it is not possible to lose more than the invested sum.
As indicated, trading binaries is versatile and South African traders may use not just various options but also a great selection of expiry times. Some can be as short as 30 seconds or as long as 150 days. This also provides a very individualised approach to trading as different traders have different trading styles.
It is also possible to use various trading strategies which can be combined with the selected expiry times. It is important to know that short expiry times are riskier but are also more profitable and very exciting.
The profits also depend on the selected binary broker so those may range between 70-93% which is an industry average. These numbers make it even more apparent why binary options trading is so popular, both in South Africa and around the world.
Traders may invest in a verity of underlying assets which are typically sorted into four categories of stocks, commodities, currencies and indices. Binary brokers provide an Asset Index where traders can see a complete list of available underlying assets and the total number may go over 200 with some brokers. This truly provides numerous trading possibilities.
The trading platforms are, especially with established brokers, modern but very efficient and user-friendly. That makes it even easier for beginner traders in South Africa to join the ranks of those profiting from binary options.
Additionally, traders can find a well-stocked selection of advanced tools and features to help them not just to trade but improve their skills as well. One of the most popular trading features is the demo account.
How to Trade Binary Options in South Africa as a Beginner
In our guide for dummies, South African traders can pick up various tips on how to approach binary options trading as a beginner and what they need to know before they invest their funds.
One of the first thing traders have to be aware of are scam brokers. Binary options trading is popular and widespread and there are those who are trying to take advantage of that using any means necessary. The good part is that traders who invest a bit of time into research and education can learn what to look out for. More importantly, they can learn the signs which typically point to a scam broker.
On our site, traders can find plenty of interesting and useful broker reviews which will provide info on all the essential aspects important for that broker.
Low minimum deposit is always a good choice for beginner South African traders, and brokers like IQOption ($10) or Binary.com ($5) could be a great starting point.
Starting Your Trading Journey with a Reliable Binary Broker?
Not knowing is not a problem because traders can learn. Educational materials, great advice and useful tips are just a click away.
We suggest that South African traders start by investing time into selecting a binary broker which provides a secure trading platform together with a variety of underlying assets and trading features.
We provide a list of best binary broker reviews which can be a huge help for all prospective South African traders. These brokers are, in most cases, regulated by one of the regulatory authorities which is also important as it provides more confidence.
Why Do Traders Have To Read Broker Reviews?
Financial trading or investment without a certain amount of risk does not exist. Yet, in binary options trading that risk can be minimised by being properly informed. This is where the importance of broker reviews come in. When South African traders read broker reviews they obtain valuable information before they select a broker for binary trading.
We work hard to make our reviews as objective as possible, providing detailed information about trading platforms, available underlying assets, payment methods, withdrawal procedure and customer support.
Our site is designed to give traders in South Africa valuable input about broker’s services and trading options so traders can decide whether they want to make a deposit with a certain broker or not.
As mentioned, there are risks involved with any kind of financial trading and losses occur, just as profits. It is possible to find negative and highly subjective opinions of traders who have lost their investment on various forum sites. Often, they will be filled with frustration, dissatisfaction and only the partial truths.
We advise traders to consult reviews written on BinaryOptionRobot.com where they will be able to find a selection or useful info rather than going to obscure forums which are more often than not used simply to vent anger and frustration.
Experience and Profit from Demo Account as a Beginner
Demo accounts are one of the best allies South African beginner traders can have in binary options trading. There are plenty of brokers listed on BinaryOptionRobot.com which provide demo accounts for their traders like Opteck, 24option and 365trading.
The demo account is the perfect practice field since it is a risk-free environment due to the fact that funds are virtual and not real on the demo. Traders who utilise the demo account can gain more knowledge but also confidence.
Once they have done sufficient practising on the demo they can move on to a real account and start their binary options trading journey.
Binary Auto Trading
What Do You Know about Binary Auto Tradingin South Africa?
Binary options trading can truly be done by anyone, that is why it became so popular so quickly. Yet, a certain level of knowledge and skill is necessary to get that which all binary options traders want the most – profit.
Binary auto trading grew from the desire to make this online trading venture even more accessible to a large public. It is not easy to take up something new, especially when it comes to investing money. This fear can frequently keep inexperienced South African traders back. This means that often, traders would get stuck between the rock and the hard place. They wish to participate and profit but are too afraid to do so.
Then, there is also the aspect of learning to consider.
That means that South Africans who wish to do binary trading successfully have to invest time into learning about trading strategies, market monitoring and other aspects necessary for binary trading.
Yet, not all traders are willing or in a position to do that. Luckily, there is a solution and it is called binary auto trading. Or, trading with binary options robots as this manner of trading is known better. This way of trading is becoming very popular and it is easy to understand why.
As one of the best software currently available on the market, we reviewed and checked Binary Options Robot, which is completely free trading software that works so as to place trades in various underlying assets respecting traders’ wishes.
This advanced trading solution makes use of the amazing technology available today to scrutinise the circumstances on the South African market and then place trades according to settings adjusted by traders.
It may also achieve high payouts which makes Binary Options Robot even more attractive trading solution for inexperienced South African traders.
What is Binary Automated Trading?
South African traders who take up financial trading of any kind usually have one driving force – to achieve healthy profits. Availability of binary options trading in South Africa allowed millions of people the opportunity to participate in this form of online trading.
Trading binary options is known as an easier and more simplified form of financial trading and with binary automated trading that simplicity was taken to a whole new level.
What binary auto trading is an added benefit which has managed to attract even more traders.
It took the already straightforward trading process and made it even simpler. Instead of the traders doing the research and learning about various aspects of the trading binaries they simply have to adjust the settings.
Once that is done, binary robots do the rest of the hard work.
The reason why so many traders in South Africa and around the world, now favour this manner of trading is the amazing technology that is behind it.
Advanced and complex algorithms scan the current market situation and generate trading signals. Trading signals are essentially information communicating which trades have the highest chance of being successful.
Naturally, these signals are generated based on the trader’s preference, they are not random. As is the case with standard binary trading, risks are present in binary auto trading too but the process is made even easier and probably much less daunting.
In order to help and guide prospective binary options traders who are interested into binary auto trading, we at BinaryOptionRobot.com will provide a lengthy guide into South African binary auto trading which will, hopefully, be an excellent springboard for a profitable trading journey.
Binary Signal Provider Types – South Africa
When it comes to generating signals, two types of signal provider software are available on the South African market.
On the one side, seasoned and experienced South African market experts create trading signals, and on the other traders may opt to use signals generated by complex trading algorithms.
In the first case, trading signals are human-generated. While this certainly has some drawbacks, to South African traders have to know that all financial markets have the human element present.
Therefore, a team of professionals with deep knowledge trading combined with the understanding the human nature, can be very good for achieving success.
The second type refers to the signal provider software which is firmly based on sophisticated, advanced and innovative technology which utilises complex algorithms in order to generate binary trading signals.
The algorithms scan the South African market to pinpoint trading opportunities which are likely to end in profits. Since algorithms are designed in such a way to include various parameters and factors, the so-called “human error” is considerably reduced.
It is neither possible nor fair to place one above the other when it comes to the type of signal providers, this is strictly down to traders’ preference.
At any rate, once the signals have been generated and delivered, South Africans can then use them to trade binary options.
Advantages of Binary Auto Trading Signals in South Africa
Several binary options signals providers have been reviewed on our site in order to provide useful info to our readers from South Africa.
Traders can find detailed information about services offered by each provider, the price and comprehensive data concerning their tools and features.
The appearance of South African signal providers and binary auto robots, could be a great solution for many traders.
Yes, some amount of research to choose the right binary robot and the equally suitable binary options broker is still necessary, but the rest is no longer a problem.
South African traders are not required to follow the financial market and all the events taking place. They even don’t have to know a lot about underlying assets or what might influence them. The same can be said about the trading strategies because the trading software does all the hard labour for them.
The market is observed and analysed either by advanced algorithms or, alternatively, trading experts. Binary trading signals are generated and delivered, containing the information of which trades have the best chance of yielding profits. Most binary auto robots, require that South African traders set the preferences in terms of which underlying assets they want to trade, how many trades per day they want the trading software to execute.
Traders can also set the daily budget which is a fantastic way to manage the money. Once those settings have been adjusted according to traders’ preference, the binary signal providers will do everything else.
Naturally, there are differences concerning quality, settings, features, tools and the number of underlying assets provided by various signals providers and binary robots, but the bottom line is – they do the hard part for the South African traders. They can the market and generate trading signals which have the highest probability of being profitable.
Again, there is no such thing as a 100% guarantee that every trade will end in success and traders have to keep that in mind before they decide to go into binary options trading.
Binary Signal Providers
How to Choose the Best Signal Provider in South Africa?
We at BinaryOptionRobot.com, are here to offer latest binary news to South African traders who are considering taking advantage of binary options auto trading. However, all advice and tips we give here are used at traders’ risk.
It is not possible to favour human-generated trading signals over those created by an algorithm. Traders have different preferences and there is no right or wrong here.
But, what we can do is offer all prospective South Africans some handy tips on how to approach binary auto trading which can make the decision-making process at least a bit easier.
We have researched various signal providers in South Africa and here are some of the tips on how to choose trading solutions that provide the best ratio of quality and effectiveness.
What to Look for in Binary Signal Providers?
The minimum deposit is usually the first thing South African traders investigate. In the majority of cases, the signal providers or robots are completely free.
This means that traders do not have to pay extra to use them. They do have to make a deposit to start trading. The deposit is made with one (or more) of connected binary brokers who support automated binary trading. While the deposit amount can vary, in most cases it is around $250.
Another thing to look out for it to select a signal provider which is connected to well-established and preferably regulated binary broker.
Another thing to look out for when it comes to how to choose the best signal provider in South Africa is not to fall for unrealistic promises. As we pointed out – there is no such thing as a 100% guarantee to make profits. South Africans should stay away from such signal providers and select those which make realistic promises.
We also suggest traders in South Africa to opt for a binary robot which always demands that traders have to be logged into their account and present online when the trading process is taking place. Traders should also be the ones who adjust and set all the preferences and settings on the trading software.
Another important element which is sometimes overlooked is the quality provided by the customer support agents.
We strongly suggest that South Africans test the customer support service before they make the final choice.
Automated binary trading is getting more and more popular which means that the number of binary robots/signal providers grows almost daily. Selecting the best one is not easy, but in paying attention to tips we have provided it can be a much easier and less stressful process.
If traders also dedicate some extra time to reading various binary signal reviews available on our site that process will become even easier.
What is the Best Binary Options Auto Trading Robot in South Africa?
An increasing number of binary options auto trading robots available on the market does not make the answer to this question an easy one. However, as is always the case, some binary robots are more popular than others.
Binary Options Robot is one such trading software. It has managed to profile itself as the best South African binary robot in 2020. This title came as a direct result of outstanding services this binary trading solution provides to its registered traders.
Based the information available on their site, this is a 100% controllable binary trading software, it is free and it does not require any additional downloads or installations.
Binary Options Robot Software – Special Technical Information
One of the most appealing aspects of this trading solution is that Binary Options Robot offers its services for free. The registration process is simple, quick and free and South African traders can select any binary options broker available with the Robot.
What South African traders get to experience with Binary Options Robot is an advanced form of technology which uses API connection which then connects Robot backend to binary brokers. In using API technology, fast information processing is possible and, as the saying goes – time is money. And in binary options, time is of crucial importance.
Binary Options Robot uses a sophisticated trading algorithm which not only takes into account the present market situation, but also makes use of the information obtained via indicators, entry points, candlestick formations as well as risk management rules.
South African traders are free to use Binary Options Robot from any device which has good internet connection.
The Robot can and will trade only when it is connected to the internet. This is an additional protection for traders as that means that nothing happens without their knowledge.
South African traders get to choose among over 50 available assets. It is recommended to keep most (or all) underlying assets active at all times. This will generate more trading signals and more opportunities to make profitable trades and it does not cost anything to keep them active.
Traders also have a handy History tab which depicts all trades carried out in the past with all details about that trade.
There is another perk which comes with Binary Options Robot and which has been pioneered by this trading software called the Auto Trade Approval.
The Auto Trade Approval is a kind of a pop-up window that allows traders to have the control over their investment choices. When the Robot scans the financial market and located the optimal trade, it transmits that information to the trading dashboard.
This info appears in the form of the Auto Trade Approval providing relevant details about the trade. South African traders will see the underlying asset, investment value, a suggested put or call option as well as the expiry time for accepting the trade. What auto trade approval does is give traders the ultimate control as they get to either accept or decline the suggested signal.
Traders have the final say with Auto Trade Approval.
Binary Options Robot – Advanced Trading Features for Better Performance
The further attraction of Binary Options Robot is given in the fact that South Africans needn’t be trading experts to use it and hopefully profit from it. Naturally, it is always better when traders do know and understand the basics of binary options trading and are familiar with trading strategies.
Experienced binary traders in South Africa can also find this to be an exciting trading prospect since they can simultaneously trade with more binary options brokers.
This can be achieved from the one trading platform so traders know what is happening at all times and can manage or adjust their trading plan easily.
By analogy, this also indicates that South Africans do not need to open more than one trading account with Binary Options Robot.
South Africans have more than 50 underlying assets available which are grouped into currencies, commodities and stocks.
Binary Options Robot also provides Daily Stop Loss feature that which allows more protection for traders’ investments. The Stop Loss feature gives traders free reigns over how much they want to invest on daily basis. Once the set level has been reached the Robot will no longer trade. This is great as South African traders can create a solid investment plan and avoid unnecessary losses.
Maximum Daily Trades is yet another helpful feature that South African traders should use. This tool is designed to help traders set the maximum number of trades per day.
Trading Amounts feature is a handy way to define an amount that could be invested for specific underlying asset groups. For example, with Trade Amount traders can define that they wish to invest $200 in currencies, $100 in commodities, and perhaps $50 in stocks.
How to Open an Account With Binary Options Robot?
The registration process is simple, fast and straightforward with only the basic info required to open an account with Binary Options Robot.
The South African traders will receive a confirmation mail after they complete the registration process. After the registration is done, the traders have to make a deposit with more or more available binary brokers after which they can initiate the trading process.
Created and designed to be user-friendly, especially for newbie traders, the Robot will open one broker account for traders once the finalise the trading process. Depending on the country, in this case South Africa, Binary Options Robot will choose the best available binary broker. Later, the traders are always welcome to add more brokers to their portfolio.
Another thing should be kept in mind – if South African traders already have a trading account with one of the brokers available on Binary Options Robot it is not possible to use it this trading solution.
Traders have to register using Binary Options Robot if they wish to use this trading software.
Binary Options Robot VIP Account
However, the cherry on the cake when it comes to this binary trading solution is Binary Options Robot VIP account. This advanced trading account is free and traders become eligible to use it as soon as they make a deposit with one of the available binary brokers connected with the Robot.
When South African traders make a deposit for the first time, they will be in a unique position to use the VIP account for one month completely free of charge. And even after that first month is up all they need to do is make another deposit and the VIP membership will be prolonged.
Binary Options Robot VIP account is a collection of advanced trading features designed to further boost traders’ chances of securing success.
Contained within the VIP account, South African traders will find Trading Strategies feature, Risk Level features and Expiry Times features.
Until recently, this account numbered four strategies but now a new one has been added – Order Flow strategy which means there are now five in total. With Risk level feature traders may adjust the risk factor and with Expiry Times, South Africans can test both short and long-term expiry times.
Fintech Limited, which appeared on the South African market in 2020, is another potentially interesting binary robot.
A free binary options auto trading system, Fintech Limited provides handy trading features such as mobile trading app. Trader Sentiment is another useful trading feature which enables Fintech traders with a chance to monitor other registered traders and depicts the number of manual trades vs auto trades.
South African traders who opt to use this binary options trading robot traders get to experience aspects of social trading and copy trading via Sentiment feature.
Profitable Auto Trading Is The Key?
As evident by the info we provided here, binary auto trading can save a lot of time. Plenty of new and interesting auto trading robots are appearing on the market at all times bit not all of them will be equally successful and provide traders what they want in terms of profits.
Risks are ever-present and South Africans have to keep that in mind. However, in following at least some of the suggestions we provided here as well as testing out binary solutions such as Binary Options Robot, auto trading could be the key for many South African traders.
And of course, investing at least a little bit of time into education can only help along the way. Reading reviews on various binary robots and signal providers will allow South African traders to have a much wider and fuller picture. That, in turn, should make the selection easier.
The Importance of Binary Brokers for Successful Auto Trading Process
To say that the success of profitable binary options trading depends on a single segment would be a complete fabrication.
As always, there are many elements that must come together for traders to achieve the ultimate prize – profits.
Yet, one could argue the point that some elements are more important than others.
And two of the most important ones is the right combination of established binary broker and superbly designed auto trading robot.
As pointed out earlier, it is always clever to check the regulation status connected brokers have. If they have been regulated by regulatory bodies such as CySEC in Cyprus, ASIC in Australia, FCA in the UK, CFTC in the United States or FSB for South Africa. There are other regulatory authorities around the world as well and this may point out to the quality traders may expect from a certain binary broker.
South African traders must be aware that a regulatory license is not a guarantee, but it still provides additional security for binary traders.
Having a superb binary auto trading system will mean very little if the binary broker is a scam or simply does not put adequate effort into providing quality services.
Which brings us back to the point that we, at BinaryOptionRobot.com already mentioned – taking the time to do proper research. This does not just refer to the matter of binary auto robots and binary auto signal providers which, recently, seem to be overlapping concepts, but to binary options trading in general.
By selecting a South African signal provider or binary options trading robot which trades with only those binary options brokers which have withstood the test of time and provide the best possible service to their registered traders, is the union which stands a fair chance of bringing about healthy profits.
Our advice stands – traders should read broker review sites which offer advice and info on best binary brokers on the South African market.
The site also contains fantastic guides and strategies which can all help South African traders to expand their knowledge on the binary options trading process in general.
And in doing so, all prospective traders will also be able to grasp the basis of binary auto trading as well.
Customer Support and Education in South Africa
Successful binary options traders know to never underestimate the power of knowledge in binary options. There is no need to pay for expensive courses or colleges, as many good brokers offer quality educational materials. One of them is the popular and widely used 24option. On their platform, South African traders can find an entire section full of useful tips.
Another important thing to keep in mind is the professional, accessible and friendly customer support service.
When everything goes well, customer service is something the average trader doesn’t take into consideration, but if things go downhill it is important to have a good customer service to fall back on.
Customer service nowadays typically provides several different communication channels. Depending on the selected binary broker, South African traders can contact them via phone, email, live chat or skype.
Before making a deposit, traders should definitely test if the broker offers the satisfactory customer support service. Sometimes the customer service is available only in English, and sometimes in more languages, so South Africans have to make sure to check if they offer service in either their native language or in the language they understand and can communicate in.
Sometimes not even the best customer service will be able to solve a problem in record time, however good customer service will always give traders all the necessary information and support they might require.
African Traders Guide
Binary options trading in South Africa has become an increasingly popular market in recent years as more and more investors seek to open online trading accounts. As awareness of this particular method experiences growth, so does the number of international brokers offering their services.
Binary trading is unregulated, and as such local South African companies are prohibited from offering their services to SA traders. However, through our extensive knowledge of the binary options industry and the rules and regulations that apply to trading we can still show you, great brokers, to trade with.
Our team of experts have searched the internet for the best brokers, and we bring you only those with international licenses that are legally allowed to offer their services to South Africans. Our knowledge of all the legal requirements means we can ensure that your trading career is a safe and profitable one.
In this article, you will learn:
The brokers best suited to your needs What local payment methods are accepted Taxes and fees that apply to ZA residents
Traders in South Africa
Like we found in Indonesia about the law on binary options, trading in South Africa is perfectly legal. There is nothing that prohibits an individual from trading online. The industry is however unregulated which means that there is no protection offered to those who choose to trade here. It also prevents good South African companies from brokering. So how do you select a company and what should you be looking for in features?
Licensing And Regulation
As there are no regulated South African brokers, you are going to need to find an offshore broker. CySEC, FCA or MiFID license many European brokers. Australia also has good brokers, look for an ASIC license. There are many to choose from, and it’s just a case of picking the right one for you.
Deals And Incentives
If you are new to trading, then you should probably look for a broker that offers a no deposit bonus. No deposit bonuses allow you to try before you buy. You should also take advantage of matched deposit bonuses, and trading contests so look out for them.
Mobile Trading Tools
Most people prefer to trade on the go therefore it is important to check out what mobile offering the broker has. Do they offer a mobile app that is suitable for the device you are using and is it available for both iOS and Android? If you are keen to trade on the go then this is critical.
Free Demo Account
A demo account is vital for many reasons. Firstly, it allows you to get familiar with the platform that you are going to be using. In addition to this, if you are using a reloadable demo, you can use it to try new assets and trade types.
The only way to legally invest and trade in binary options, in South Africa, is to use an off-shore broker. Finding one that has all the above benefits plus anything else that is important to you as an individual is difficult. That is where we come in. We display to you, only the best, most reputable brokers to ensure that your experience is a good one.
Trader Broker Asset Profit
Broker Fees And Tax
When looking at the tax requirements surrounding binary trading, South Africa is much like any other country. If you are an individual, then you will no doubt be paying Personal Income Tax. You could be paying anything from 18% for income below R160,000 up to 40% for anything over R617,000. Local tax applies to profits made on any income, and this includes binary options trading.
If trading is a second income, you will need to declare your income and ensure that you pay the correct tax on this amount. Remember to deduct any losses and work out your net profit so that you don’t pay too much tax.
Now while binary options brokers aren’t responsible for informing the South Africa tax department that you have made an income from trading, they will have a record of your transactions within your account. Make sure that you have access to this information as you will need it when calculating your total profit for a certain period. We recommend keeping a monthly record of deposits and withdrawals and recording all profits and loss.
While African taxes are the main cost that you will incur there may also be other fees to consider. These fees include:
Currency conversion fees for converting to and from the currency you will be trading in Deposit fees usually associated with certain types of transactions. Your account provider can charge these fees Transaction fees from your credit card or e-wallet provider Withdrawal fees from the broker for making each withdrawal
If you are making lots of deposits and withdrawals, the money will soon mount up. Consider making fewer, more substantial deposits and withdrawals to try and cut down on the number of fees charged.
South African Licencing
Now while there are no legal issues that restrict South African citizens from trading, there is, unfortunately, a lack of brokers local to the country. It is not a regulated industry; therefore there are no legal or licensed South African binary options brokers.
There are however plenty of good brokers offshore that have the relevant licenses and regulations. The ones to watch out for are those that are licensed by CySEC or other European recognised licenses. Genuine brokers are more likely to be licenced in Europe, so look out for the brokers that display this licencing.
Do not use a broker that doesn’t have a license. There is a reason that they don’t have one, they either can’t get one, or they aren’t a serious broker doing things the right way. Why would you invest money with them if they haven’t gone to the trouble of getting licensed?
Also, make sure that any licenses are genuine. We have gone to the trouble of doing this with all of the companies that we review and recommend so you will be pleased to know that we only recommend genuine, trustworthy brokers that have a good reputation and history.
Our knowledge of all the legal requirements means we can ensure that your trading career is safe.
How we Recommend Brokers
There isn’t a choice of trading with a local broker for South African traders so if you wish to trade it is going to have to be with an offshore broker. Now, this may seem daunting and perhaps a little risky, but there are genuine SA brokers that offer an excellent service with proper incentives. Our job is to make your experience a more beneficial one by reviewing and rating South African brokers across the market.
Like all of our broker ratings and our best binary options reviews, we take into account every aspect of trading and what each broker has to offer. Firstly we look at their licensing and eligibility to trade. We only bring you brokers that have the correct licensing and operate within regulations and legislation. We want your trading experience to be profitable and without issue. We also examine the logistics of each broker.
Some of the critical areas include how easy it is to open an account, how easy it is to navigate the trading platform and whether the mobile website and app are user-friendly. We also examine what benefits each broker has to offer. Do they provide good bonuses, a good payout and what other rewards are available? For VIP / Premium traders we look at the higher end accounts and what they have to offer and how they compare to other offerings available.
We review brokers all over the world, and when it comes down to it, South Africa steps up pretty good. Our reviews focus on the options market are based on our extensive knowledge and experience of it. Our team of experts have many years of trading experience between them and know what matters. Our commitment is to only bring you the best South African binary options brokers on offer.
Frequently Asked Questions
Is binary trading in South Africa legal and safe?
South Africa has tax laws and regulations, and it is crucial to abide by these rules and regulations to avoid hefty fines. Earnings from binary options trading need to be declared.
Do I need to pay fees and taxes on my profits?
South Africa has tax laws and regulations and it is important to abide by these rules and regulations to avoid large fines. Earnings from binary options trading need to be declared.
Can I test brokers before trading with real money?
Brokers will offer lots of incentives to stay competitive. These usually include a demo account to allow new traders to trade on the platform without depositing any of their funds.
Is it easy to make deposits and withdrawals?
Making deposits and withdrawals is easy. Just open an account and make your deposit. Withdrawals can take up to 3-5 days; some brokers offer a much quicker turnaround for those higher stakes traders.
Can I trade using my mobile or tablet device?
Yes, to stay competitive all brokers must have either a responsive, easy to use mobile version of their website or an app available for either Android and iOS.
Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.Best Binary Options Brokers 2020:
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