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Best Forex Brokers In South Africa 2020
South African traders looking to trade CFDs should choose a South African Forex Broker regulated by the Financial Services Conduct Authority (FSCA) with an advanced forex trading platform such as MetaTrader 4, a range of forex markets and currency pairs.
View the best forex brokers in South Africa below.
By Justin Grossbard / Updated: Friday, April 03rd, 2020
Top 8 Forex Brokers For South African Traders
The April 2020 best forex brokers in South Africa are:
- Pepperstone – Best South African MetaTrader 4 Broker
- ForexTime – FXTM Is The Top MetaTrader 5 Broker
- Plus500 – Best Forex Broker For Beginner Traders
- AvaTrade – Lowest Fixed Spread Forex Trading Account
- IG – Lowest Non-Commission Forex Trading Spreads
- HotForex – Best Forex Broker With ZAR Account
- FXCM – Good No Commission Forex Broker Account
- FxPro – Best Forex Broker Offering cTrader
- ThinkMarkets – Top No Deposit Forex Account
Regulations and Licenses
Markets and Instruments
Trading Platforms + Tools
The Best MT4 Forex Broker In South Africa Is Pepperstone
The fasted-growing broker worldwide is Pepperstone based on their:
- Lowest MetaTrader 4 (MT4) average spreads
- Low commissions from $3.50 ($7 round turn)
- Fastest execution speeds
- Minimum deposit requirement of $200
- No fees on deposits and withdrawals
- Award-winning customer service
Pepperstone is regulated by the Australian Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK. They have an FSP application in South Africa with the Financial Sector Conduct Authority (FSCA). Below are the five key reasons why Pepperstone is recommended for those considering the MT4 which is the most used forex trading platform worldwide.
1) Average MT4 Spreads Offered By Pepperstone
Pepperstone has a razor online trading account offering spreads similar to a true ECN broker with EUR/USD spreads from 0.0 pips. Below compared 2020 average spreads of leading brokers offering ECN broker spreads with Pepperstone having the lowest across major currency pairs. These major currency pair spreads include 0.13 for the EURO/US Dollar, 0.14 for the Australian Dollar / US Dollar, 0.22 for the Euro/Japanese Yen, 0.41 for the Euro/British Pound, 0.44 for the Pound/US Dollar.
You can compare view more MetaTrader 4 Pepperstone spreads on our full comparison page.
2) MT4 Commissions
Pepperstone offers two main account types, standard and razor. The Razor online trading account is the most popular The razor account also charges a commission of $3.50 AUD per lot when the Australian Dollar online trading account currency is chosen. There are other rates as shown below with options from the British Pound (GBP), US Dollar (USD) or Euro (EUR) base currency are chosen. It should be noted that like most global CFD brokers there is no ZAR account option.
|Commissions Per Lot||US Dollar||Australian Dollar||British Pound||The Euro||Swiss Franc||Canadian Dollar||Singapore Dollar||New Zealand Dollar||Hong Kong Dollar||Japanese Yen|
|MetaTrader 4||USD 3.76||AUD 3.50||GBP 2.29||EUR 2.61||CHF 3.30||CAD 3.50||SGD 4.55||NZD 4.75||HKD 28.17||303|
There are also further commission discounts (rebates) available for active traders with three tires:
- Tier 1 = 100 lots = 10% rebate
- Tier 2 = 200-500 lots = 15% rebate
- Tier 3 = 500+ lots = Negotiable
3) Range Of Currency Pairs And CFDs
Pepperstone offer over 60 currency pairs from the majors such as EUR/USD to minors including ZAR/USD. Up to 500:1 leverage is offered on the forex market and the Pepperstone EDGE environment ensures fast execution speeds. In addition to currency pairs, there is the ability of trading CFDs including:
- Cryptocurrencies (Bitcoin, Litecoin, Bitcoin Cash, Dash and Ethereum) with up to 5:1 leverage and no commissions
- Share CFDs (Over 60 high-quality stocks) with 20:1 maximum leverage and commissions from USD $0.02 per share
- Index CFDs (Across 14 major markets) with 200:1 maximum leverage and spreads from 0.4 pips
- Commodities (Metals, Soft Commodities, Energy) with 500:1 maximum leverage and spreads from 10 cents per pip
4) Low Minimum Deposit Of $200
Pepperstone has one of the lowest minimum deposit requirements of AUD $200. The fx broker also offers fee-free funding methods from Debit Card, Credit Card, Direct Transfer, Paypal to Skrill.
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5) Awards Winning Customer Support
Over the past decades, Pepperstone has won multiple awards for its customer service. This includes the Investment Trends customer support award, Professional Traders client relationship manager service award and the Global Forex best forex trading support award. The CFD provider offers South African traders with a 24/5 live chat, contact centre (phone) and e-mail customer support. Active traders also are provided with an account manager to tailor the support given for their needs. Read more…
Summary Of Why We Chose Pepperstone For South African Traders
Pepperstone’s low brokerage (spreads/fees), choice of forex trading platform and support are the three pillars making them the best broker. With a strong reputation worldwide and their FSP application pending, they are the ideal choice for South African forex traders.
The overall rating is based on review by our experts
FXTM (ForexTime) – Best MetaTrader 5 Broker
Compare Forex Brokers’ top pick for the best MetaTrader 5 forex broker is ForexTime (FXTM). Founded in 2020, FXTM has the know-how expertise to offer South African traders top-notch technological solutions. Additionally, forex traders can benefit trading on the upgraded MetaTrader 5 (MT5) with an online broker that holds trading licenses from the world’s top regulatory agencies, including:
- In South Africa from the Financial Sector Conduct Authority (FSCA) with FSP license No. 46614.
- In Belize from the International Financial Services Commission (IFSC) with license numbers IFSC/60/345/TS
- In the UK from the Financial Conduct Authority (FCA) with license No. 777911
- In Cyprus from the Cyprus Securities and Exchange Commission (CySEC) with License No. 185/12
Below our team of industry experts will highlight all FXTM MetaTrader 5 features including functionality, range of markets, total costs and the trade execution speed.
3 Types of MetaTrader 5 Trading Accounts
ForexTime offers South African FX traders the choice to use the MetaTrader 5 platform on three different account types. The diverse selection of trading accounts allows FX traders to opt for an account that suits his trading requirements. Without further ado, SA traders can open 3 MetaTrader 5 trading accounts as follows:
- ECN Account
- ECN Zero Account
- FXTM Pro Account
Note* FXTM offers the ECN technology across all of its MT5 account offerings.
On the downside, we should note that the Swap-free trading account is not available through the MT5 platform. You can download the MetaTrader 5 for desktop and Mac versions as well as mobile trading (iPhone and Android). Additionally, there is a browser-based trading platform FXTM MT5 WebTrader, which is supported across 6 different browsers.
Low Range of Markets on MetaTrader 5
ForexTime offerings of financial instruments are extremely low when compared to other forex trading platforms. The range of currency pairs (major, minor and exotic) and asset classes offered by FXTM is on the low side. Currency trading can be done on 33 currency pairs and additionally, there are two CFD spot metals (XAUUSD and XAGUSD).
However, on the plus side, South African Forex traders can magnify their returns by having access to whopping maximum leverage of 1,000:1.
Fast Order Execution Speed
ForexTime can offer through its proprietary price engine technology fast execution speeds of 52 milliseconds (according to data compiled in December 2020). FXTM can also access a deep network of liquidity providers that ensures you will benefit from tight spreads. Additionally, the MetaTrader 5 platform can boost the following performances:
- Low re-quote rate of 3.22% (December 2020)
- Positive slippage on 94.64% of TP orders
- Negative slippage on 5.36% of SL orders
- Execution speed of 81 milliseconds for MT5 ECN account
- Execution speed of 88 milliseconds for MT5 ECN zero account
South African residents can explore all MetaTrader 5 features and performances in a risk-free environment by opting for opening a demo account. You can access the forex market and practice your trading skills under live market conditions.
FXPro – Best cTrader Broker
FxPro headquarters are in the UK and have offices across the world offering no dealing desk allowing fast execution speeds and low brokerage for automated trading. The broker offers MetaTrader 4, MetaTrader 5 and the cTrader forex trading platform. In addition to FSB (FSCA) regulation, the broker has a Financial Conduct Authority (FSA) and Cyprus Securities and Exchange Commission (CySEC) regulation. Visit Site…
After evaluating all the features that come with a FxPro live account, we concluded that the best cTrader forex broker is the London-based FX broker FxPro. Below, our team of industry experts will try to outline all the aspects of FxPro’s software solution.
Full Market Depth (DOM)
The FxPro cTrader platform is equipped with full depth of market DOM. This feature lets forex traders visualize the best bid and ask prices coupled with the total amount of available liquidity. Compared to other trading platforms cTrader offers 3 convenient ways to display the data inside the DOM:
Note* FxPro’s order execution engine on the cTrader platform only uses the volume-weighted average price (VWAP) to execute orders.
Average Market Execution Speed of 37 Milliseconds
The FxPro cTrader trading platform can boost ultra-fast order execution speeds of:
- 37 milliseconds (average order execution speed)
- 11.06 milliseconds (fastest order execution speed)
While FxPro is not a true ECN forex broker, it runs a No Dealing Desk execution model (NDD). FxPro’s NDD model gives South African traders the chance to execute their orders without any human intervention. The no dealing desk forex brokers have the advantage of offering direct market access and a transparent way to trade. Our team of industry experts has assessed FxPro’s order execution policy and found the following advantages:
- 12.81% of client orders received positive slippage
- 98.60% of client orders received no requotes
- Collocated servers (Equinix LD5 data centre and AM4 in Amsterdam)
Limited Range of Markets
South African traders will have restricted access to the available financial markets. The range of markets available on the cTrader platform includes 4 asset classes:
- Forex currency pairs (70 pairs)
- Metal Trading (7 pairs)
- Stock indices (24 instruments)
- Commodities (3 energies)
Compared to other South African forex brokers, FxPro has a poor selection of financial instruments. The cTrader platform can only give traders access to a total of 104 instruments. However, trading CFDs on shares and futures can be accessed via the FxPro MetaTrader 4 terminal.
Final Words – About the Best cTrader Forex Broker
The award-winning cTrader trading platform offered by FxPro can be downloaded as a Desktop or MAC application. Additionally, SA traders can have direct access to the cTrader account directly from your browser via the cTrader Web Platform. On-the-go trading is also available via mobile trading (iOS and Android). If you’re a high volume trader, the FxPro cTrader platform can be a good fit for your needs.
HotForex – Best South African Rand (ZAR Account)
Our team of investing professionals included forex brokers that support ZAR Forex accounts and allows South African traders the comfort to fund their retail investor accounts using the local currency Rand. The forex trading accounts denominated in South African Rand are the ideal solution for traders who actively trade the ZAR crosses. Not many forex brokers can be proud to offer clients to open ZAR trading accounts. However, HotForex was able to score the highest amount of points on our star scoring system and was awarded the best ZAR account due to the following 3 reasons:
- Multiple trading account types (5 retail investor accounts)
- 11 funding methods
- Maximum leverage of 1000:1
If you want to study the full list of South African forex brokers with ZAR accounts, please check out: Top 5 Forex Broker ZAR Accounts.
HotForex Account Types
South African traders that prefer forex trading via trading accounts that are denominated in ZAR have a plethora of options to satisfy their needs if they opt for opening a live trading account with HotForex. No matter of the trading strategy used and level of risk with HotForex, clients can open a maximum of 5 live accounts and additional 3 demo accounts.
In the table below, our team of experts assessed the main features that come with each different account type.
|Micro Account||Premium Account||Zero Spread Account||HFCopy Account||Premium Pro Account|
|Minimum Deposit||$50||$100$||$200||$1000 for Strategy Provider, $300 for Follower||$500|
|Minimum Spread||From 1 pip||From 1 pip||From 0 pip||From 1 pip||From 1 pip|
|Range of Markets||8 Markets||8 Markets||8 Markets||Forex, Gold and Bitcoin||8 Markets|
|Maximum Total Trade Size||7 Standard lots per position||60 Standard lots per position||60 Standard lots per position||60 Standard lots per position||60 Standard lots per position|
|Commission for forex pairs||✘||✘||✔||✘||✘|
|Stop out level||50%||50%||50%||50%||20%|
Note* HotForex Zero Spread Account type comes with raw spreads and 0 markups, but it charges the following commission structure:
- $6 round turn commission on major currency pairs
- $8 round turn commission on minor currency pairs
HotForex Deposit Methods
HotForex offers a wide range of deposit and withdrawal methods catering to the needs of a wide base of clients. The minimum deposit to fund the most basic HotForex account is $50 or equivalent in South African Rand. Opening a live trading account with HotForex is simple and straight forward. Check out below the available payment methods via HotForex:
- Bank wire transfers
- Credit cards and debit cards (Visa, Mastercard, and Maestro)
- Electronic Wallets (Neteller, Skrill, and TrustPay)
Note* the only negative point scored by HF Markets is that it doesn’t support PayPal the world’s largest online payment portal.
HotForex 1000:1 Leverage on Forex Trading
South African residents can speculate on the exchange rates with a maximum leverage of 1000:1 on a total of 49 currency pairs, including:
- 15 major currency pairs
- 34 minor currency pairs
- 4 ZAR crosses (USDZAR, EURZAR, GBPZAR and ZARJPY)
Compared to other forex brokers, only Pepperstone, IC Markets and FxPro can boost decent forex leverage of 500:1. For a full comparison of the leverage offerings among South African forex brokers please study the table below.
|Instrument Traded||HotForex||FxPro Leverage||IC Markets Leverage||Pepperstone Leverage||IG Markets Leverage||Plus500 Leverage|
|Commodities||10:1||150:1||500:1||500:1||25:1 to 200:1||150:1|
Final Words – Best Broker with ZAR Account
Like all the best forex brokers operating in South Africa, HotForex abides by the standards imposed by the FSCA and other tier-one financial institutions (CySEC, FCA, DFSA and FSA). Client funds are secured and held in segregated accounts. With HF Markets enforces the negative balance protection policy, which means that SA traders can’t lose more than their account balance. Additionally, HotForex offers free account funding with zero deposit fees and fast transaction times.
eToro – Best South Africa Broker for Social Trading
Used by millions of traders worldwide, eToro is the world’s largest social trading broker that is favoured among South African residents due to its copy trading feature. Our team of experts assessed all social trading networks, but eToro came at the top of our proprietary scoring system due to the following reasons:
- Copy-trading on multiple assets all from one proprietary trading platform
- A diverse range of trading strategies, portfolios and trade signals to follow
- Low minimum deposit requirements of $200
- CopyPortfolios a unique premium feature designed for sophisticated investors
Note* the minimum deposit required to invest in CopyPortfolio is higher. SA traders need to put down $5,000 to access eToro’s premium products.
73% Success Rate on Copied Trades
Based on the data compiled since inception and ended in January 2020, eToro generates 73% success rate on over 124 million copied trades. In other words, 73% of the 124 million trades copied on the social trading platform closed in profit. The most popular social trading markets available on eToro include Forex, stock, indices, commodities, ETFs and cryptocurrencies.
eToro Investors can Earn 2% Annual Fees
eToro Popular Investor program is dedicated towards the skilled traders that have a profitable trading strategy and want to earn an additional income. If you become a Popular Investor on eToro copy trading platforms you can earn up to 2% in annual fees.
For example, if the total funds under management (funds that follow you) are $1 million, you’ll earn an additional $20,000 regardless of your success rate.
Note* The 2% annual fee is credited to your eToro account every month (by the 10 th of the month) and the funds will be available for withdrawal right away.
The eToro’s Popular Investor program is structured into 4 levels (Cadet, Rising Star, Champion and Elite) that come with their own requirements and different levels of assets under management. In conclusion, the more assets under management you manage to attract, the bigger your payment will be. The table below will highlight the 4 levels of the Popular Investor program.
Final Words – eToro Best South African Copy Trading Network
Overall, eToro came ahead of its competitors due to its large clients base of over 6 million traders. South African residents that lack the trading experience to generate a profit have a chance to use eToro copy trading feature and start earning a passive income. The financial services offered by eToro comply with the standard and rules imposed by the top financial institution including:
- Australian Securities and Investments Commission (ASIC) holding AFSL number 491139
- In the US, eToro USA LLC is registered with FinCEN as a Money Services Business (on the downside it doesn’t hold a CFTC license)
- Cyprus Securities and Exchange Commission (CySEC) holding license number 109/10
- Financial Conduct Authority (FCA) holding registration number 7973792
- On the downside, eToro is not regulated by the FSCA formerly known as the FSB
Note* while your funds are safe and secure, eToro will charge you a withdrawal fee of $25. The second negative point is eToro’s high spreads (typical EUR/USD spread of 3 pips and USD/ZAR spread of 50 pips) and the high overnight rollover fees.
Plus500 – Best For South African Beginner Traders
Compare Forex Broker’s top pick for the best South African forex broker that caters to beginner traders is Plus500. Plus500 is a leading CFD provider that has its financial services exclusively dedicated to the beginner traders. For South African traders, the best forex brokers for beginners must come with some advantages that are part of the broker’s offerings. Below, our team of experts will list some of the essential features that make Plus500 loved by beginners:
- Dedicated round the clock customer support service 24/7 (including over the weekend support access)
- Easy-to-use CFD trading platform (web-based intuitive interface)
- State of the art social trading network
- Zero commission trading
- Forex educational webinars for beginners
- ZAR trading account (comes with convenient payment methods including debit cards and credit cards, bank transfer, PayPal and Skrill)
- Risk management tools to minimize risk (guaranteed stop loss). The disadvantage is that the guaranteed SL comes with an additional extra cost in the form of an additional spread charged and it’s only available to certain instruments.
Note* On the negative side, Plus500 doesn’t offer its clients access to a desktop trading platform. Plus500 offers a WebTrader platform and mobile trading via CFD trading apps (iOS and Android).
+2000 Financial Instruments
The Plus500 trading platform offers access to the most traded markets in the world, including shares, indices, Forex, commodities, options, ETFs and cryptocurrencies. Compared to other forex brokers, Plus500 has a wide range of asset classes, but IG Markets and CMC Markets can offer their clients more markets and subsequently more trading opportunities.
Due to the zero-commission policy, Plus500 is not able to offer low spreads. For example, the EUR/USD spread offered by Plus500 is 0.6 pips and the USD/ZAR spread is 85 pips.
Our team of industry experts conducted a deep review of South African forex brokers and their spread offering on the most traded currency pairs and the ZAR crosses. See the table below.
Final Words – Best Forex Broker for Beginners
Plus500 holds an Authorized Financial Services Provider licence with the Financial Service Board of South Africa. The global CFD Provider is suitable for all investors with strengths in customer service and easy to use Forex trading platform and a range of markets from Shares, Indices, Cryptocurrencies and Forex with an assortment of currency pairs. Plus 500 is also regulated by financial institutions including the Cyprus Securities and Exchange Commission (CySEC) and the Australian Insurance and Investment Corporation (ASIC).
FXCM – Best No Commission Forex Broker Account
Based on our proprietary star scoring system, FXCM is the best forex broker offering no commission on FX trading. South African residents can enjoy trading on the foreign exchange market with a proprietary trading platform, spreads as low as 1.2 pips on EUR/USD and 57.6 pips on USD/ZAR and leverage as high as 400:1 (and 200:1 for CFD trading). The average spreads are calculated from October 1, 2020 – December 31, 2020.
Note* The default forex leverage is 400:1 but for deposits over $20,000 the leverage will be limited to 100:1.
Another aspect which makes FXCM offerings of financial services so attractive is their exclusive bonuses and promotions. Currently, SA traders can enjoy the following bonuses for forex trading:
- Forex welcome bonus of $20 (or Rand 300) available until June 30, 2020
- Forex affiliate program (you can get additional $20 when you refer friends and family to FXCM)
- FXCM Africa monthly trading contest (the winner can get $500 cash prize)
Note* SA traders need to make a minimum deposit of $50 (or Rand 749) to be eligible for FXCM’s bonuses and promotions.
FXCM Range of Trading Platforms
In terms of forex trading platform options, FXCM offers three featured trading platforms:
- MetaTrader 4 (MT4) – the world’s most popular trading platform
- Trading Station – FXCM’s proprietary trading platform
- NinjaTrader – dedicated to developing automated trading strategies via Strategy Builder feature
Note* Additionally to the main trading platforms, FXCM offers third-party platforms that can be fully blended with FXCM’s financial services. There are a total of 7 third-party trading platforms, including QuantConnect, MotiveWave, AgenaTrader, Sierra Chart, SeerTrading, NeuroShell Trader and StrategyQuant.
Each of FXCM’s trading platforms has unique trading features and providing market access for all types of traders. Regardless, of your preferred trading platform, FXCM can boost the following advantages:
- 67.37% of client orders got executed with no slippage
- 22.00% of client orders received positive slippage
- 17 milliseconds average execution speed
- 98.84% better Forex pricing compared to the interbank pricing
Final Words – Best Forex Broker with No Commission
Overall, FXCM has the best no commission forex trading accounts dedicated to South African traders. Pepperstone came in second place in the same category. One thing to mention is that the FXCM trading accounts offer variable spreads plus mark-up pricing. The zero-commission trading feature couple with a solid range of trading platforms and enhanced execution speed makes FXCM the best forex broker with no commission.
Note* FXCM took some extra negative points due to its lack of diversity when it comes to the available currency pairs for trading. In total, FXCM offers only 39 forex currency pairs (major, minor and exotic pairs).
AvaTrade – Best Fixed Spread CFD Broker
Compare Forex Broker’s top pick for the best CFD broker with the lowest spreads is international broker AvaTrade. Regulated across five continents, including on the African continent by the local watchdog FSCA, AvaTrade gives SA traders access to over 784 financial instruments, including:
- Forex currency pairs (55+ major, minor and exotic pairs). Competitive spreads starting from 0.9 pips on EUR/USD and 85 pips on USD/ZAR.
- CFDs on global stocks (627 individual stocks like Amazon, Facebook or Google). The CFD stock spread starts from 0.13%.
- CFDs on commodities (17 soft and hard commodities, including metals). Gold spread starts from $0.34 and WTI Oil spread of $0.03.
- CFDs on indices (20 global indices). The spread on the DJ30 is 3.00 points and MSCI spread is 0.10 points.
- CFDs on FX Options (44 FX options contracts)
- ETFs (5 ETF contracts). The spread are as low as 0.13%
- Bonds (2 bond contracts)
- CFDs on cryptocurrency (14 digital coins). The bitcoin spread is 0.5% over-market.
It’s important to note that AvaTrade offers different levels of leverage conditions as follows:
- Gold leverage is 20:1 and the rest of commodities is 10:1
- Stock leverage of 5:1
- Indices leverage 10:1 (and 20:1 on the most traded indices)
- Cryptocurrency leverage of 2:1
AvaTrade has access to a deep pool of liquidity providers which promises CFD trading with competitive spreads. AvaTrade ZA also has numerous trading platforms, including the iconic MT4 and MT5 platforms, a browser-based trading platform and proprietary trading platforms AvaTradeGO and AvaOptions. Across all trading platforms, AvaTrade offers fixed spreads.
Fixed Spread Forex Trading Broker
AvaTrade offers competitive fixed spreads across its range of financial instruments. Unlike variable spreads, fixed spreads remain constant and aren’t impacted by the changes in the market conditions. However, it’s important to note that AvaTrade fix spreads are over the market. This means that the spread will fluctuate as per the market price, and they stop moving, once the position is open.
Below you can overview the fix spreads offered by AvaTrade under normal trading conditions on some of the most traded currency pairs:
Additionally, AvaTrade may offer spreads as a percentage of the position for some CFD instruments as follow:
- CFD stock spreads as low as 0.13%
- CFD commodity spreads as low as 0.03 points
- CFD index spread as low as 0.25 over-market
- CFD FX Options spread as low as 0.9 points
- CFD ETF spread as low as 0.13%
- CFD Bonds spread as low as 0.03 over-market
- CFD cryptocurrencies spread as low as 0.35% over-market
Final Words – Low Fixed Spread CFD Broker
Like Plus500, AvaTrade is a global Forex broker that also has a SA subsidiary (Ava Capital Markets Pty) meaning it is regulated by the South African Financial Services Board. They have over 200,000 Forex traders using the fx broker and have won the ‘best customer service award’ in past years. They offer a web trader, MT4, MT5 or the proprietary platform AvaTrade Go as a mobile trading app.
ThinkMarkets – Best No Deposit FSCA Forex Account
ThinkMarkets has ranked as the best forex broker with no minimum deposit requirements that offers FX and CFD trading. This South African-based forex broker has only recently opened up (May 2020) its business in the African continent. The legal entity under which ThinkMarkets offers its financial services to South African traders is TF Global Markets (South Africa) (Pty) Ltd. ThinkMarkets is regulated by the local financial watchdog Financial Sector Conduct Authority (FSCA) and is an Authorized Financial Services Provider with FSP No 49835.
Offering financial services to forex traders in South Africa has become extremely competitive for the brokerage trading firms. However, ThinkMarkets has managed in a relatively short period of time to make a name for oneself.
Below, our team of experts will outline the main factors that weighted the most into our proprietary scoring system.
5 Types of Trading Forex Accounts
ThinkMarkets offer a variety of trading account types suitable for all types of traders. Setting up an account with this FSCA regulated FX broker requires no initial deposits (exception is the ThinkZero account). The types of forex accounts offered by ThinkMarkets are listed below:
- Standard account offers average spreads of 1.2 pips and access to 3 different trading platforms (ThinkTrader, MetaTrader 4 and MetaTrader 5)
- ThinkZero account offers raw spreads +$3.5 commission per 1 standard lot (requires a minimum operating balance of $500)
- Islamic accounts come with swap-free charges. However, ThinkMarkets charges a weekly administrative fee of $5 for major pairs and $10 for minor pairs for trades that are held more than 7 days.
- Demo account gives access to over 1200 tradable instruments (Forex and CFDs on shares, indices, commodities, cryptocurrencies and metals)
- Joint Account which can be owned by two account holders
See below a quick comparison between the two most popular ThinkMarkets accounts:
Note* The maximum leverage offered by ThinkMarkets is 500:1 if you qualify as a professional trader. Retail traders can only get maximum leverage of 30:1.
$1 Million Insurance Protection
South African traders can safely deposit money with ThinkMarkets. The additional $1 million client fund insurance offered by ThinkMarkets aims to safeguard your fund in an unlikely event of insolvency. Forex insurance coverage has the following advantages:
- Transparent protection with no additional fees
- Market-leading fund protection with segregated forex accounts
- Top-tier insurance partner (Lloyd’s of London)
Additionally, ThinkMarkets offer several payment options for deposits and withdrawals, including:
- Bank wire and bank transfers (international bank wire transfer costs $25)
- Credit and debit cards (Visa and Mastercards)
- Visa Checkout
- Sid Secure EFT
- Payment Asia / UnionPay
- Zotapay Africa
Note* ThinkMarkets clients can manage the deposits and withdrawals through the secure client area ThinkPortal. SA traders can fund their account using the most popular currencies (ZAR, USD, EUR, CHF, GBP, JPY, AUD and more).
Final Words – Best SA Broker with No Deposit Requirement
Overall, ThinkMarkets is among the best South African Forex brokers due to their no minimum deposit requirements, a wide range of payment methods and fund protection. Following our extensive review process, we concluded that it’s safe to trade with ThinkMarkets.
IG – Lowest Forex Trading Standard Spreads
IG.com ranks as the lowest spread forex broker in South Africa for the standard account. Established in the UK in 1974, IG is the world’s biggest CFD provider. IG Markets South Africa Limited is part of IG Group Holdings Plc and regulated by the Financial Sector Conduct Authority (FSCA) FSP No. 41393. We assessed all aspects of IG trading spreads along with evaluating all its trading features and found the following advantages:
- The average spread of 0.75 pips on EUR/USD
- Access to +17,000 global markets through CFD contracts
- Direct Market Access (DMA)
- ProRealTime charting software and trading platform for only Rand 300 per month
- Stockbroking services with over 12,000 global shares like Facebook, Apple, Alphabet, etc.
- First-class customer support
- Fund protection through segregated accounts at tier-one banks and negative balance protection
- Fast average order execution speed of 14 milliseconds
Discover below the CFD spreads charged by IG South Africa.
Competitive Standard Spreads
At, IG the average standard spreads are considered to be the lowest among all forex brokers operating in South Africa. IG pricing technology streams its quotes from a wide pool of liquidity providers, which reduces the spreads charged to SA traders. IG’s average trade spreads can go as low as:
- 0.75 pips on EUR/USD
- 1 point on FTSE 100
- 0.3 points minimum spread on spot Gold
- $40 minimum spread on Bitcoin
Note* IG charges the spreads across all its markets with the exception of share trading which is commission-based (USD 25 on the US share trading).
The typical average standard spreads for the most traded currency pairs can be studied below:
Additionally, the IG’s order management software comes with the following advantages:
- No re-quotes – less than 0.36% (according to data compiled through October 2020) of trading orders are rejected due to liquidity constraints
- Price improved technology ensures positive slippage – more than 183,000 orders received positive slippage (according to data compiled through October 2020)
- Good for handling large order trading sizes
- A high rate of 98.3% order fill
Final Words – IG Lowest Spread Forex Broker in South Africa
Our FX expertise revealed that IG has the lowest forex trading standard spreads among South African FX brokers. IG forex spreads oscillate in accordance with the market liquidity while CFD spreads remain unchanged excluding stock spreads. South African residents can open a live trading account with IG with a minimum deposit of Rand 4,000.
South Africa Brokers FAQs
Which forex broker is the best in South Africa?
Pepperstone was awarded the best forex broker for South African traders based on five key factors:
- It’s regulated with the FCA, ASIC and is in the process of a South African FSP licence
- It has the lowest commissions and spreads from 0.0 pips for the EUR/USD
- Traders can choose from the most popular forex platforms, MT4, MT5 or cTrader
- It has award-winning customer support from live chat to the call centre
- There are a plethora of fee-free funding methods with a $200 minimum deposit requirement
For more details, you can view the Pepperstone review.
How to choose the best forex broker?
To find the best fx broker for your needs you should be looking for a regulated fx broker that has low brokerage (spreads/commissions), a solid forex trading platform, strong customer service and easy deposit/withdrawal methods.
View our best forex broker section to see a list of the leading CFD providers.
What fx broker is best for beginners?
Beginner forex traders should be looking for a CFD broker that an easy to use forex trading platform, strong customer support and risk management features such as negative balance protection and guaranteed stop-loss orders.
Our recommendation is Plus500 which has the components a beginner trader needs.
Which forex broker has the best spreads?
The lowest spreads are available from providers that have ECN broker accounts. Our review of Pepperstone found they had the lowest spreads with some January 2020 example:
- EUR/USD average spread of 0.13
- AUD/USD average spread of 0.14
- EURJPY average spread of 0.22
- GBP/USD average spread of 0.44
- EUR/AUD average spread of 0.54
Brokers Regulated By FSB – South Africa Forex Brokers
|SA Forex Broker||Regulation||Min.Deposit||Trading Platform||Leverage|
|Pepperstone||FSB Pending, ASIC, FCA||$200||MT4, MT5, cTrader||500:1|
|FXTM (Forex Time)||FCA, CySec, IFSC||$5||MT4, MT5, Web||1000:1|
|AvaTrade||FSB, ASIC||$100||MT4, AvaTrader||400:1|
|IG||ASIC, FCA, MAS||$450||MT4, L2||200:1|
|FXCM||ASIC, FCA||$50||MT4, NinjaTrader||400:1|
|Markets.com||FSB, CySEC||$100||Sirix Web,
|Saxo Bank||FCA, FSA, ASIC||$10000||SaxoTrader||100:1|
|BlackStone Futures||FSB||R5000||MT4, CloudTrade||100:1|
|ALFA Financials||FSB||$1000||Alfa Trader||100:1|
|FxPro||FSB, FCA, CySEC||$100||MT4, MT5, FxPro, cTrader||500:1|
|Plus500||FSB, FCA, CySEC, ASIC, FMA, FSCA||€100||Plus500 Platform
Plus500 CFD Platform
Guide to Finding The Right Forex Broker In South Africa
South African forex trading success is partially dictated by the fx broker chosen and five criteria should be considered:
1) Spread and Commission Fees are the forms of brokerage that apply to a forex broker in South Africa. Some brokers will only have a spread while others may have narrower spreads but also charge a commission. Some other fees may apply to advanced features such as guaranteed spreads, an overnight holding of a position or licencing fees. Fees can also be reduced by choosing a South African Rand ZAR account.
2) Forex Platforms are the way online brokers allow South African forex traders to trade with currency markets. These have different interfaces, features and integrations. On the South African forex broker table above you can view how MetaTrader (MT4) is offered by most brokers giving the flexibility to change brokers if you choose this fx platform. Other platforms, on the other hand, may have unique features not available on MT4 such as share trading on MT5 and C# programming on cTrader. Another popular platform is NinjaTrader offered by FXCM and Forex.com.
3) Leverage is critical when currency trading in SA. As currency market movement is modest compared to other markets, leverage makes these more substantial to make real profits or losses. A trader needs to afford to take the high risk of losing money rapidly due to leverage. Therefore, leverage needs to be aligned to a South African forex traders risk profile and trading strategy. Remember, losing your money is a real possibility on currency markets so it’s critical to understand the risks of forex trading.
4) Risk Management features take into account how trading CFDs are complex instruments. They help control risk such as determining when a trader exits a trade (eg a guaranteed stop) or to prevent a trader from not only losing your money but also from going negative through negative balance protection. Even with risk management, you can lose money when trading so the amount put into a deposit is critical. You can check with each fx broker what percentage of retail investors lose their money on retail investor accounts.
5) Regulatory Bodies: The South African local regulatory body is the FSCA, this is also referred to as the FSB (Financial Service Board). This regulator reviews the financial services industry excluding the banks. This regulator works towards protecting South African investors including forex traders and has powers to enforce their policies. They also work with the Ombudsman to investigate customer concerns in regards to forex trading brokers. View more our on FSB regulated page. Global financial institutions such as eToro, IC Markets and AxiTrader were not considered as part of this comparison as they were not FSCA certified but can be compared on this SA trader page.
Published by Justin Grossbard
Friday, April 03rd, 2020
Binary Options Brokers and Platforms – Reviews and Comparison
We have compared the best regulated binary options brokers and platforms in April 2020 and created this top list. Every broker and platform has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The sortable broker comparison list below shows which binary trading sites came out on top based on different criteria.
You can sort the list using payout (maximum returns), minimum deposit, bonus offers or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. Below the comparison list is some advice on how to pick the best trading platform for you, as this will often come down to your personal requirements and needs.
Top Brokers in Russia
|Spectre||$10 (ETH)||Up to 200%*||» Visit|
|OptionField||$5||93%||Pro Account Discount and 10% Cashback||» Visit|
|Nadex Exchange||$250||100%||» Visit|
|RaceOption||$250||90%||100% Deposit match bonus||» Visit|
How to Compare Brokers and Platforms
In order to trade binary options, you need to engage the services of a binary options broker that accepts clients from Russia. Here at binaryoptions.net we have provided a list with all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:
- What is the Minimum Deposit? (These range from $5 or $10 up to $250)
- Are they regulated or licensed, and with which regulator?
- Can I open a Demo Account?
- Is there a signals service, and is it free?
- Can I trade on my mobile phone and is there a mobile app?
- Is there a Bonus available for new trader accounts? What are the Terms and
- Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
- Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices and stocks – and how many of each?
- Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of day, long term etc?)
- How much is the minimum trade size or amount?
- What types of options are available? (Touch, Ladder, Boundary, Pairs etc)
- Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
- Do they operate a Robot or offer automated trading software?
- What is the Customer Support like? Do they offer telephone, email and live chat support – and in which countries? Do they list direct contact details?
- Who has the best payouts or maximum returns? Check the markets you will trade.
We cover as many of these comparison factors as possible in our list above, but we go into much more depth within each review.
Regulated Binary Brokers
Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option.
|Binary.com||Malta GA||BO, CFD|
|IQ Option||CySEC||BO, CFD, Crypto, Forex|
|BDSwiss||CySec||BO, CFD, Crypto, Forex|
|24Option||CySEC||BO, CFD, Crypto, Forex|
|Nadex Exchange||CFTC||BO, Forex|
Leading regulatory bodies include:
- CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
- FCA – Financial Conduct Authority (UK)
- CFTC – Commodity Futures Trading Commission (US)
- FSB – Financial Services Board (South Africa)
- ASIC – Australia Securities and Investment Commission
There are other regulators in addition to the above, and in some cases, brokers will be regulated by more than one organisation. This is becoming more common in Europe where binary options are coming under increased scrutiny. Reputable, premier brands will have regulation of some sort.
Regulation is there to protect traders, to ensure their money is correctly held and to give them a path to take in the event of a dispute. It should therefore be an important consideration when choosing a trading partner.
Both sign up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment or risk free trade . Whatever the form of bonus, there are terms and conditions that need to be read.
It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to ‘opt out’ of taking a bonus.
Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to ‘over trade’. If the bonus does not suit you, turn it down.
Binary options demo accounts are the best way to try both binary options trading, and specific brokers’ software and platforms – without needing to risk any money.
You can get demo accounts at more than one broker, try them out and only deposit real money at the one you find best. It can also be useful to have accounts at more than one broker. For example, payouts for two different assets might be best at different brokers. You can shop around, and use whichever account has the best payout for that asset.
Demo accounts offer the best way to try out a brand, risk free. Likewise if we recommend a brand, you can try it first, before risking anything.
Low Minimum Deposits
If you are looking to get involved with binary options for the first time, low minimum deposit requirements may be of interest. For traders just looking to try binary options, a low minimum deposit broker might be best. A small initial deposit keeps risks low. Minimum deposits start at just $5 and there are a growing number of brokers offering low minimum deposits – “low” would be any minimum under $50.
Likewise, all brokers will have a minimum trade requirement or trade amount too. These can vary greatly between platforms. Minimum trade figures range from $1 to $25 – which is a large difference if a trader plans to trade frequently. For some traders, this might be less of a factor in terms of finding the best broker for them, but for others it will be very important. Practice accounts are a zero risk way of learning to trade.
One element many traders use to find the best binary options trading account, is the payout percentage on offer. This is not always a simple comparison however. Payouts will change based on the underlying asset being traded, and the expiry time of the option. In addition, payouts will change as the broker manages their own risk. So if one broker was originally the best price, things may then revert and mean that another now has the top payout.
So the most an investor can do, is to check the payouts for assets, and expiry times they are most likely to make, and judge which brand offers the best terms most often. Demo accounts are good when researching payouts on specific assets and trades.
Exchange traded and over the counter brokers will have different payouts – and they will not be easy to compare. In general, exchange traded options offer superior value. Nadex are one example of an exchange.
So as you can see, finding the best trading account and broker is not always easy – but it is worth noting that you are free to move between brokers whenever you like. So even if an account turns out to be poor, it is easy to up sticks and find a new trading firm. Likewise, a trader could have multiple accounts, and open trades at the broker with the best terms for that particular trade.
Which is the Best Binary Trading Platform?
Naming the best trading platform is not easy, simply because trading platforms and proprietary (bespoke) software are normally a question of personal taste. One user might like a simple layout, while others might need a lot of data on screen all the time.
However, platforms do have different levels of quality, both in terms of ease of use, and features. Broadly speaking, brands which offer Contracts for Difference (CFDs) in addition to binary options, deliver a more feature-rich trading platform or advanced software.
So the likes of Nadex and IQ, will deliver a very professional trading platform. MetaTrader integration is also normally provided at the more professional brokers (Some use both mt4 and mt5 functionality) . This difference in quality is evidence of the maturity of binary options as a product, but binary brands will catch up very quickly.
Intro To The IQ Option Platform
How do Brokers Make Money?
Binary options brokers make money via one of two business models:
- As a counter-party, ensuring an ‘over round’ via payout percentages. Known as ‘Over the counter’ (OTC)
- Via a spread or commission on an exchange traded model
People who have experience of other forms of trading, and are now approaching over-the-counter (OTC) brokers for the first time may find themselves asking the question: “Where is the commission?”.
With OTC binaries however, there is no commission. In theory, the term ‘brokers’, is not correct. Binary firms are not arranging a deal or acting as a middleman, or as a market maker; What they are, is the counter-party to each of their customers’ positions. So there is no fee or commission for the trade. Instead, each customer is essentially betting against the house. Where brokers have both sides of a trade covered, they have a handsome margin. Where they do not, the payout still gives them a level of protection. In certain circumstances, the broker will also hedge it’s own position to mitigate risk.
Those companies (Nadex, for instance) that trade binary options via an exchange operate much more like a ‘broker’. Unlike the OTC market where the platform is the counter party, with exchange traded options, the broker is the middleman – matching buyers with sellers and charging a commission. This charge is normally hidden within the spread, rather than an explicit cost. There is far less risk involved for the broker, and therefore generally better returns per trade for the trader. Brokers can be actively compared using the spread – the tighter the spread (difference between buy and sell prices) the cheaper it is to trade.
Brokers using the spread model often also offer leverage, or trading on ‘margin’ via their software. This increases the trade size for the trader – and profit for the platform.
Should You Use Multiple Brokers?
There are some very good arguments for having more than one binary trading account:
- Brokers suit certain trades. Different brokers will suit different trading styles, or trade types. So one broker might be excellent for shorter term trade types, and have great payouts on forex pairs. But that same brand may be slightly less good when it comes to offering boundary trades or indices payouts. If a rival had a full set of long term expiries with great payouts, and lots of choice of boundary trades – it makes sense to have accounts with both platforms, and place trades with the broker that offered the best deal for each trade.
- Demo accounts. Multiple demo accounts makes perfect sense – you want to try as many brokers and trading platforms as possible before deciding where to trade.
- Reduce risk. Accounts at more than one broker protects you from any issues with a particular firm. From issues as serious as insolvency, to smaller things, like website downtime, software issues or a market being closed – multiple accounts reduces your risk of being affected by any hardship a broker might face.
- Multiple offers. Each sign up can mean a new bonus, so it might be worthwhile taking up more than one account to receive all the offers. As ever, read the terms – and also note that on occasion, larger deposits might mean larger bonuses – so splitting them may not be the best choice.
- Spread winnings. Some brokers may look for winning traders on their books, with a view to restricting their trading, perhaps limiting trade size – or worse. While this threat is thankfully small, multiple accounts means spreading the winnings out. Most brokers will search for “winners” based on total profit rather than strike rate, so hiding the volume across broker accounts can help you stay below their radar.
Exchange versus OTC (Over the Counter) Brokers
A broker that offers an exchange is much closer to a traditional ‘broker’ than OTC brokers. An exchange performs the job of ‘middleman’. They will match a seller of an asset, with a buyer of the same asset, and charge a commission for putting the deal together. The market itself will decide the prices – if there are more sellers than buyers, the price will drift down until demand rises. If there are more buyers than those willing to sell, the option price will rise.
A broker operating an exchange does not mind who wins and who loses. They take no risk on the trade themselves (unless the traders are trading on credit). The broker will make their commission on the trade regardless of the outcome.
Due to this reduced risk for the broker, the returns for a winning trader are generally larger. Commissions are usually small relative to the size of the trade, meaning they do not impact the payout too much. Other benefits include the fact that stop losses can be applied, and also that trades can be closed at any time (to take a profit or reduce losses).
The complications with exchanges, comes from the structure. An exchange traded binary option will “trade” somewhere between 0 and 100. Where 0 is the figure used where an event did not occur, and 100 where it did. If the current price is currently 30, a ‘buyer’ would risk 30 times his trade size, to potentially win 70. A ‘seller’ therefore, would risk 70 to win 30. While not a complicated equation, it is slightly more complex than the straight forward over the counter option.
OTC (Over The Counter) Brokers
The most common type is the Over the counter (OTC) broker, but this type of firm is not really a ‘broker’ at all strictly speaking. They are the counter-party to one side of the trade. So where a trader opens a position, the broker will win or lose money, based on whether the trade wins or loses. Only where the broker has another trader who has made the exact opposite trade, will they have assured profits.
Due to this increased risk, the brokers will offer a lower payout which mitigates some of the risk they are taking. It is therefore likely to be lower than an exchange traded broker. Some firms will also have built in ‘hedging’ mechanisms to reduce risk further. In some cases, one side of trade might be made unavailable if liabilities get too large.
The simplicity of binary options is retained with OTC brokers. They have also made great strides in competing with exchanges by offering ‘cash out’ values for options, allowing traders to close positions early, and set up stop losses. Once those features become common the gap between OTC and exchanges will get smaller. For now, traders are better off trading on an exchange – but might be advised to learn the differences via demo account.
Have you had a problem with your broker? Submit a complaint
Deposit and withdrawal options do vary at each brokerage. Each of our reviews will explain which each firm offer, but below is a list of the most common options.
If you are looking for brokers that support a specific payment method:
- Wire Transfer
- Credit cards / Debit cards
All of the factors covered above will ultimately affect the way a trader plays the market, and therefore, their profitability. The ideal situation is to get a binary broker that offers:
- Several financial assets spread across several markets
- Offers a reasonable bonus with a good payout approaching 90%
- Offers flexible expiration dates without boxing traders into very long expirations.
Trading using a broker’s platform will only be enjoyable, and profitable, if you are using a reputable operator. You also need to choose one that suits your trading style best – only you will know what that is. Read the above binary broker reviews carefully before making that crucial trading decision, but remember you are not tied in to any single broker, and can pick and choose.
Best Binary Options Brokers 2020 | Top Binary Trading Sites
As Binary Option trading has become more and more popular, the question of which brokers can be trusted to invest your hard-earnt money has become more and more pertinent. In today’s article, our expert trader Michael Allen, assesses the various options on the market, and recommends, which brokers are most likely to make you money in 2020.
How Binary Option Robot Can Change Your Life? Check This Out!
Binary options brokers the facts!
- The rapid emergence of new trading platforms has meant that there are now well over 400 trading platforms available on the market.
- There are several great Binary Option Robot providers and Option Signals providers that can help you to make money.
- The rapid expansion of binary option robots has led to the establishment of a number of trusted regulatory bodies.
- Technological advances have led to a long list of brokers, offering user-friendly platforms, along with a whole host of other alluring benefits.
- Countries, such as the U.S.A have places certain restrictions on some brokers, meaning that clients may end up being disappointed
- There is no one catch-all Regulatory Body, for binary options brokers, instead it is done on a territory by territory basis.
- These come in the form of watchdogs, who ensure that brokers are held to the highest possible standards.
- The most respected of these come within the European region, with The CySEC [Cyprus Securities and Exchange Commission], being especially well-respected.
TABLE OF CONTENT
How to Make Money with Binary Option Robot
How to Choose the Best Broker
How we asses Binary Option Brokers
- Diverse Asset Base: any broker trading a small number of Binary Options, is unlikely to make a large amount of profit, for a number of different reasons. Thus, we only recommend brokers offering you a wide range of trading options.
- Binary Options Types: the best brokers offer a lot of binary options variants. We only recommend brokers with features such as: Options Creator, One-touch Options or even Short-term Options.
- Depositing Options: trading firms who accept a wide selection of deposit methods are usually easier to get started with. This variety also makes it easier to take your money out, once you start earning.
- Financial Stability: It is vital that your broker maintains a healthy balance sheet, or you may end up losing your money. We only recommend well-established brokers who are much more reliable than smaller firms or startups.
- Profitability: we recommend brokers that offer higher payout rates, as this allows you to make the most of all your transactions.
- Cash-out Options: it is crucial that brokers pay out promptly, as not doing so is a red flag. We only recommend brokers that release your funds within two days or less.
Comparison of Binary Options Brokers
The most important decision when trading in binary options is choosing the right broker to trade. It is extremely crucial to select a high quality broker to be able to access all the benefits of the binary trading features. Various factors have to be considered in order to determine which of the top binary options dealing platforms are worthy of association. Listed below are the comparative attributes for the major binary options brokers:
- Diverse Asset Base: There are always better prospects and more options that can help you boost your profits when you trade with many currency pairs. The number of trading options available at that juncture becomes a very important factor.
- Binary Options Types: In comparison to mainstream brokers, the best brokers typically offer a lot more binary options variants. Features such as Options Creator, One-touch Options or even Short-term Options are crucial in attracting binary traders.
- Depositing Options: Trading firms that accept a wide selection of deposit choices are usually easier to get started with, all the while being readily accessible to more clients. This is ideal for traders as a platform that offers better payment and cash-out options is preferable over others.
- Financial Stability: It is definitely important for your broker to maintain a clean business standing. Well-established brokers are usually much more reliable when compared with smaller firms or upstarts.
- Rate of Profitability: The reason why you should opt for brokers that offer higher payout rates is to make themost out of all your transactions. Considering different binary options brokers provide different values of profitability, you should select brokers with high payout rates and payment ratios.
- Cash-out Options: It is fundamentally appropriate that brokers should be quick and prompt when making payments. Firms that pay within two days or less are often recommended.
The Best Binary Brokers Of 2020
Armed with the comparative tips listed above, you should feel completely confident to sign up with our recommended list of brokers. These brokers were tested, regulated, licensed and approved for each of the territories listed. All you have to do is to navigate to the appropriate territory, select a broker, sign up and begin trading.
There are two regulatory bodies that oversee the United States binary market: The Commodity Futures Trading Commission [CFTC] and the National Futures Association [NFA] that were established to regulate all the trading activity conducted online within the United States, including in the Binary Options field. While it is not illegal for any listed Binary Options brokerage to trade with US traders, any disputes that may arise between brokers and traders will have to be legally resolved only in the US which usually leads to substantial costs to the broker, possibly resulting in hefty fines and/or penalties.
This fact combined with the attendant regulatory restrictions have led to the creation of two unique groups of Binary Options brokers that accept traders based in the United States. The first group comprises of offshore brokers who are not regulated by either the CFTC or the NFA whereas the second group comprises of brokers who are regulated by one of the two regulatory bodies.
Here are the three brokers that we recommend using if you are trading from the United States, be warned, other brokers operating in this market have been found to be unscrupulous.
Best Binary Option Brokers in the U.K.
UK traders are some of the luckiest traders around: they are allowed to trade with any online broker without restrictions and being members of the EU, they are covered by all brokers regulated by the Financial Conduct Association (FCA) of the UK as well as the Securities and Exchange Commission (CySEC) based in Cyprus.
That being said, it is still advisable, for British traders to do as much research as possible, to avoid being scammed by an unscrupulous broker. Here is the list that we have compiled of the best U.K. brokers of 2020:
Best Binary Option Brokers in Australia
Binary options trading is becoming ever more popular with Australian traders. This increased popularity has led to the tapping of ASIC [Australian Securities and Investments Commission] as the supervisory authority of this sector.
It is possible to trade offshore, however, any trader doing so would need to consider the exchange rate factors because of the fluctuations that arise due to funding your account in other currencies besides the Australian currency.
Here are the three brokers that we recommend that our Australian readers use:
Best Binary Option Brokers in Canada
Online trading is legal in Canada and each of the country’s provinces has its own trading regulator. There is no overall watchdog to regulate trading compliance or to license brokers. Nonetheless, one that comes close to being an all-round regulator is the IIROC [Investment Industry Regulatory Organization of Canada].However, the IIROC can only set and enforce laws that apply to the Canadian securities and trading markets but not the firms operating in the online world. Therefore, trading in binary options is allowed countrywide.
There are several tested and approved brokers under both regulated and unregulated categories that are suitable for Canadian traders. With regard to this, we have shortlisted a few brokers who provide appropriate support, banking options, and other services that are appreciated from respected brokerage services.
Best Binary Option Brokers in Europe
Some of the luckiest traders are found in Europe when it comes to binary options trading. The CySEC [Cyprus Securities and Exchange Commission] was one of the first regulators to supervise industry brokers. This regulatory approach also factored in the MiFID [Markets in Financial Instruments Directive] component which states that brokers licensed by the CySEC are allowed to trade in all member states of the European Union.
This means that all brokers regulated by the CySEC can accept traders from any country within the European Union. Being the predominant regulatory body for binary options, the CySECgives European traders a multitude of choices. There are no restrictions pertaining to trades with offshore brokers either, which makes Europe the world’s best binary options marketplace – an open floor with a vast number of choices for traders.
The best brokers trading in the European zone all come highly recommended following our rigorous analysis:
The Indian financial market including the trading in the financial instruments is regulated and governed by the Securities and Exchange Board of India (SEBI). SEBI formulates the governing rules for all the brokers operating within India. Currently, there are no formulated rules and regulations for binary options trading. So, if you are an Indian Resident you have several choices of brokers for binary options trading.
Our in-depth analysis of the brokers available, suggests that Indian consumers are best served by registering with brokers that are regulated by the which is regarded as one of the best regulatory bodies of binary option brokers.Thus, we recommend using any of the five brokers below, who all conform to these strict rules:
Best Binary Option Brokers in Dubai
The Dubai market is one of the fastest growing markets for binary options brokers. The Dubai International Financial Center (DIFC) which is regulated by the Dubai Financial Services Authority (DFSA) is the major regulatory body allowing financial transactions in the UAE. The financial market is further regulated by other authorities like the Ministry of Economy Planning, The Central Bank of the UAE, and the Emirates Securities and Commodity Exchange.
The recent past has seen some major fluctuations in the financial market and many traders from the UAE believe that these fluctuations are favorable for them. Another distinct advantage for UAE traders is that their financial market operates from Sunday to Thursday, allowing them to operate on weekends.
Many certified financial advisors in the UAE have advocated binary options trading due to thefavourable market conditions. Our in-depth analysis suggests that the following brokers are the best options for UAE traders:
Binary options trading is very popular in the South Africa and has seen exponential growth over the last few years. The Financial Service regulator namely Financial South Africa (FSB)is the prime authority for the financial dealings in the region. The sub-authority under FSB, the Financial Advisory and Intermediary Services (FAISA), is responsible for all the securitized transactions including binary options trading.
Traders should know that binary options trading is completely legal in the region, however, the lack of specific regulations regarding the binary options broking means there is no specific broker local to South Africa, meaning that South Africans have to use international ones. Our detailed analysis of the available options leads us to recommend well-regulated brokers, within the European area, the best market for Binary Options:
Binary Options trading has become very popular in New Zealand, despite its relatively small size. The selection of right trading partner is vital before commencing the binary trading journey, and the most important aspect one should consider is the regulations being followed by brokers. In this respect, the New Zealand tops many of the large countries as the New Zealand authorities were first amongst others to come up with a regulatory authority.
The Financial Market Authority (FMA) is a government body which regulates the financial instrument trading along with enacting rules and regulations for binary option brokers. The FMA imposes stringent guidelines which brokers must follow to continue holding a license and any violation on part of the broker attracts heavy penalties and sometimes even the termination of the license.
There are very few brokers in the country who are regulated by the FMA, meaning that we recommend using, well-regulatedInternational Brokers. The best regulators are within the European region, which is why we recommend using these brokers:
Binary options trading is emerging as one of the most popular trading options in many Asian countries, proving to be especially popular in the Philippines. Though there aren’t strict regulations like there are in developed nations, there are rules and regulations in place in the country to safeguard the trader’s interest.
The Securities and Exchange Commission of Philippines is the agency which lays out rules and regulations for financial instrument trading. The commission ensures that the interests of their citizens are safeguarded.
We recommend that citizens of Philippines enrol with foreign brokers who are regulated by well-known authorities like Financial Conduct Authority of the United Kingdom or the Cyprus Securities and Exchange Commission of the European Union. The international brokers have earned their reputation by well-laid processes, excellent service standards, timely pay-outs, and above all, superior customer service.
Here are the two brokers, which we recommend for traders from the Philippines:
Best Binary Option Brokers in Malaysia
The Malaysian financial trading community is protected by the two government agencies, the Securities Commissions of Malaysia and Bank Negara Malaysia. As with other Asian countries, binary options trading has emerged as one of the most popular ways of trading financial assets. However, our research suggests that there is no binary options broker from Malaysia. Currently, the binary options brokers have targeted their focus on the Europe and Australia. The unavailability of local brokers does not mean that Malaysians cannot trade binary options, as there are several good international options, for them to use.
Following a thorough analysis of the brokers available, we are happy to recommend that our Malaysian readers choose one of the following brokers, both of whom are well-regulated and well-established within the arena.
Best Binary Option Brokers in Russia
Russia has emerged as one of the fastest growing binary trading community in the world. Russians are able tolegally signup with binary option brokers and trade: this is illustrated by the fact that established players offer Russian language sections on their websites. This means that everyone, from beginners to seasoned professionals can trade and make profit.
The government of Russia allows its citizens to trade in binary options. This offers several choices for the Russian traders to choose from, the best two being:
- They can enrol with the locally regulated brokers
- They have the option to enroll themselves with the international brokers who are well regulated by the foreign authority.
As always, our efforts are directed towards providing a complete picture of the various brokers available. If you are a binary trader from Russia and looking for a broker who is regulated by foreign authorities, then we recommend the following two brokers:.
OptionRobot Broker Review
For many traders, finding the right broker is of utmost importance. Finding an automated broker with proven signals and a high winning rate is almost godsend. If you have been on a lookout for one without success this far, you are currently at the right place. Option Robot is relatively a new broker though it is not easy to tell judging by its popularity among both experienced and inexperienced traders.
Vastly different from an ordinary broker, Option Robot is a fully automated trading system and you don’t need to possess any previous experience in Binary options to join the game and start earning. With a completely secure and accredited banking system, you can be assured that your money is safe at all times. Also, the fast withdrawal processing ensures that you get your money when you want without any additional hassles. As you read further, you are about to find out that there is much more to this exemplary broker-cum-trading software.
The Option Robot has some of the best and most accurate signals you will find in any broker. It is known to generate trading signals with proven winning rates of above 83% – which are then used to place trades on your behalf depending on the settings and preferences defined by you.
With signals this accurate, you can be assured that all your trades almost always expiring In the Money despite the limited market experience you may have.
Option Robot offers 3 binary options trading systems to help you manage your investments as per your preference.
These systems made available by Option Robot are:
Classic System:This is regarded as the safest and most secure system with the least risk. With this system, the investment for all your trades will be equal. While it may seem favorable due to low risk, it should be noted that the profit margins are also limited.
Martingale System:The martingale system is more widely used in Forex trading but that does not mean it is not applicable to binary options. Basically, with this system, the investment amount is gradually increased after a loss until a profit is made after which it goes back to the original amount. The risks here are slightly higher, but so are the profits. It is a great choice for traders who are looking to make quick profits.
Fibonacci system:The Fibonacci or Fib as it’s popularly known is the most accurate system with straightforward win or loss probability. For each forex pair, a sequence is calculated based on its up-trends or downtrends over an expiry period thus determining its resistance and support levels. This helps choose the right direction to follow thereby, substantially reducing or completely eliminating the chances of losing trades.
With Option Robot, there is no shortage of indicators to choose from as several of them available as listed below:
Depending on your preference, you can choose one or more of the indicators to help you in your trading. If two or more are selected, then they will have to have the same signal for the system to place a trade. For instance, if the MACD and Williams indicators are selected, they will both have to give the same indication to the system for a trade to be made. For a call trade, both the indicators will have to indicate the same for the signal to be generated and a Call option traded. No trade can be completed when the indicators have different signals – probably a way to reduce the risks to the traders. Definitely a clever strategy there.
For any questions and/or inquiries regarding your experiences using the system, you can get help by sending an email to [email protected] and an Option Robot agent will get in touch with you at the earliest. However, the response may not be as quick as you need it; presumably due to the large volume of emails they receive every day.
However, you may want to look through the FAQ section for answers and clarifications. Perchance you just might find your particular question(s) clearly answered there. Additionally, there is an interactive blog in operation which contains significant information related to user experiences which may be of help to you. Apart from sending an email, there are no other contact options currently which can either be attributed to the fact that it’s a new site or a poor customer service policy. We can’t jump into conclusions this early so we will give them the benefit of doubt.
Opening an Option Robot account is a simple process that will take just a few minutes of your time at the most. To sign up, click our Open FREE Account button and select the Join Now tab to start the process. You will then be required to provide your personal details like name, email, phone number and country of residence – that’s all!
To start trading, make a deposit (you can do this through credit card or bank wire transfer) and click on the “Auto Trade” tab on the interface which will require you to set the assets you want to trade in, the expiry times and amount of investment per trade; the Option Robot software does the rest.
You may also choose from the several popular and regulated Compatible Brokers available such as GOptions and Banc de Binary. This selection of some of the best brokers in the business shall save you the hassle of searching for a trustworthy broker through a ‘Trial and Error’ method (something you would most definitely want to avoid for the sake of your sanity).
Option Robot, founded by professional Forex and binary options traders is surely an industry game changer. It significantly takes away the need for experience or knowledge of charts and trend lines making it a popular choice for new traders who form the majority these days.
The free software combined with the easy sign up option is clever idea and will benefit the traders who are not interested in downloading or paying for software which makes it almost all of us or at least close to it.
To an experienced trader, the customizable nature of the system and range of trading systems are enticing additions to consider. Option Robot is a broker site you should try if you haven’t already laid your hands on it.
Get the Option Robot for free by clicking on the button below and start trading instantly!
AutomatedBinary Broker Review
Automatedbinary software is the newest in the market and a lot of people are curious to know if it is as trustworthy as it looks or if it is another of those fraudulent sites found abundantly. It is not every day that we review new software as most of them are outright scams anyway. However, in the case of Automatedbinary, a full review was very necessary to clear the air considering that public opinion is somewhat divided.
Automatedbinary is an automatic trading software which collects market data, analyzes it, generates signals and executes trades on behalf of the trader. The software uses a great variety of indicators, which are very popular in other financial markets, to produce trading signals. Looking at the verified ‘In The Money’ trades percentage which is 81%, we can say that this attention to detail in the generation of signals works perfectly well.
From the overview, Automatedbinary is the best software in terms of trader freedom as it entrusts all the major and minor functions to the traders themselves. Traders get to choose which assets to trade in, how many simultaneous trades at a time, the amount to be invested in every trade and the indicators to be used. Truth be said, not many sites offers traders this extent of control over the system but then again, not every software is Automatedbinary.com.
As it should ideally be, the software is free and completely web based – forget about the security hassles and storage issues that are associated with downloading software. An additional security feature is that the robot will not place any trades while the trader’s connection is off. This means that traders are required to have their connections on at all times for the robot to function. Not really much convenience for traders who are off the grid but it is a great way to check that traders are in control of their trades at all times.
While it is always a good idea to sign up for the real account and start trading right away, it may not really appeal to everyone especially if the software is new, like Automatedbinary. Thus, to help traders acquaint themselves with the software and to help amateurs acquire some trading practice with no monetary risk, Automatedbinary offers a simulated or demo version. This version is free and open to all; every trader (even a non-trader) who signs up for it gets $50k virtual cash to invest. This money comes with no restrictions – well, apart from the very obvious no withdrawal policy – and can be traded in whatever way the trader wishes.
For anyone who wants to check out the nuances and experience what Automatedbinary has to offer, we recommend using the demo version first. With that, there are zero risks to your real cash and you can leave any time without complications if the software does not function to your liking. While at it, it is wise to not completely trust everything that you see on the demo including the number of wins as a true reflection of how the software works. Note that this is stimulated trading and most sites resort to displaying a multitude of things to advertise their systems in good light.
Automatedbinary generates signals based on the following market indicators:
- Trend Indicator
- RSI (Relative Strength Index)
- Williams Indicator
- Stochastic Oscillator
Each indicator is good on its own but works better when combined. This is because each has its own shortcomings and combining several, and even all of them, makes up for any shortcomings. In addition to that, combining all the indicators will produce strong and top quality signals which will lead to higher success rate.
Another special feature of Automatedbinary.com is that the robot’s trading modes are tailored to every trader’s likes and preferences. As such, there is the Classic method, a favorite of newbies mostly because it carries lower risks and guarantees consistent wins although with lower payouts. Then, there is Martingale, sometimes referred to as the Compound method, which keeps on multiplying the investment on every trade after a loss until a successful trade occurs. This method is regarded as the most profitable but comes at a higher risk of losing all the investments. The last method is the Fibonacci, which is based on mathematical patterns built around the idea that market trends keep repeating themselves over time.
Usually, traders get to select their preferred method from among the three. The choice is not permanent and can be changed whenever the trader feels he/she is ready to trade using a different approach.
Getting started with Automatedbinary.com is extremely easy. After navigating to the website and clicking on the sign up tab, you will need to provide your name and address (both phone and email). Next, you will have to create a password and customize your account. To begin trading, you must select a broker; use the links provided to get to the broker’s site and open an account. You will be able to trade after making a deposit and clicking on the Auto Trade function. However, you don’t have to start trading right away and instead, head to the demo version first.
When it comes to the conclusion, the logical question is whether Automatedbinary a scam. Being a new system, we can’t really confirm that it’s completely legitimate but from what we have seen, heard and experienced, the software is as real as they come. For lovers of short term options, Automatedbinary has quite a lot to offer. Those who prefer long terms options too are bound to be benefited. The listed brokers too are quite good. Very good in fact! Renowned brands like Stock pair, BinaryTilt and Binary among others make appearances here.
No prestigious broker would risk its reputation by associating with a fraudulent site so this serves as strong indications that Automatedbinary is an honest site. Additionally, there are no tell-tale signs of usual scams such as paid actors enacting the role of traders and neither are there any exaggerated promises of gaining quick wealth. We can therefore confirm that this is one of the best binary options trading systems we have tried in a long time.
Get the Option Robot for free by clicking on the button below and start trading instantly!
Finpari Broker Review
It is no secret that the binary market has been experiencing a massive growth over the past few years. This cut-throat competition has made it really difficult for new brokers to make establish themselves as major industry players. Breaking this mould, though new, Finpari has created waves in the brokerage platform.
Despite the fact that it’s a relatively new broker, Finpari has managed to make a name for itself with its quality products and sophisticated services. In fact, there is no considerable difference in quality between Finpari and other brokerage platforms that have been there for the last 7 years. The platform is now a well-known brand within the binary market. It features a wide range of assets along with a unique array of options to suit all types of traders.
Finpari was founded as recently as 2020 but it has already extended its services to the entire world. And when we say all around the world, we do mean it: the platform accepts clients from Europe, Russia, United States and many other countries. That is not the end of it: Finpari comes with other awesome features like 1 hour withdrawals. We recommend our readers to stay tuned as we uncover more interesting attributes about the platform. Make sure you keep reading!
The company is owned and operated by LeronaImpex, a financial provider whose headquarters is located in 306 Premier Building, Albert Street, Seychelles. Since inception, Finpari has exhibited exemplary quality in its services. As a result, in has won a number of awards like “Best Binary Website 2020 & 2020” and Best Finance Website 2020.”
Speaking of the webpage, Finpari’s official site demonstrates the highest level of efficacy. It’s quite easy to navigate through their homepage – you don’t have to fumble your way around. The broker has clearly displayed the relevant add-on buttons including the necessary features. Other brokerage platforms should follow suit by adopting the user-friendly design exhibited by Finpari.
We can’t forget to mention the overall professionalism displayed by the broker. One thing that is worth noting is the fact that Finpari’s website does not bombard visitors with loud letters that beg for attention. The colors and overall layout are quite conformable and pleasing to the eye.
A review about Finpari won’t be complete without mentioning the overall trading platform that has been flawlessly designed to meet the needs of various types of traders. There’s a saying within the binary market which states that you can tell a good broker by its trading platform. This is one of the biggest strengths of Finpari. Powered by SpotOption, Finpari offers a top notch trading experience.
Considering that the minimum trade required is only $1, users are given the opportunity of exploring valuable resources at a low cost. The platform features more than 60 tradable assets which are divided into 4 categories: currencies, stocks, special commodities and indices. It also features 7 different modes of trading to ensure that every investor is presented with the possibility to identifying what fits best within his or her trading needs.
- Standard options:It simply allows traders to predict whether the price of an underlying asset will go up or down within a specified period of time. Standard options expire with a payout rate of 83%.
- Pairs:This option allows traders to compare two assets and eventually pick out a single winning asset.
- Long term assets: These are ordinary trading assets; the only different aspect is that they have a longer expiry period.
- Sixty Seconds: Again, the difference here is in the expiry period which ranges from 60nano-seconds to 5 minutes.
- One Touch: This is the highest yielding option with a 500% payout rate. Traders are supposed to predict whether an underlying asset will touch a predetermined level.
Account Types and Promotions
When you open an account initially, you will be welcomed with a bonus promotion that ranges from 20% to 100%. The first three trades are also offered within a risk free policy. Another promotion that traders need to look out for is the Fixed Income Account. This is a novice account that offers boundless opportunities. Other trading accounts include:
Bronze Account: This is basically the smallest account type that requires traders to deposit amounts ranging from $250 to $999. Account holders can enjoy a welcome bonus, a demo account plus a trading course. In addition, traders can withdraw their payouts within an hour.
Silver Account: This feature requires a minimum deposit of $1000. The highest deposit is stated at $2999. Silver account holders can enjoy a 50% welcome bonus, a master class web session plus the benefits received in a Bronze account.
Gold Account: This is the most senior level account that comes loaded with a 100% bonus, access to an individual account manager plus the benefits received in a Silver account.
Fixed Income Account: This is quite different from most trading accounts. Additionally, in order to be an account holder, you need to be an active client of Finpari. The invested capital is personally managed by well trained staff members. The account features a 10% payout rate along with security on the invested amount. This means that regardless of the market behaviors, clients are guaranteed of their initial investment.
Investors who want to trade on-the-go can utilize the mobile platform. Finpari is compatible with both the Android and iOS devices. The mobile platform comes loaded with features like regular binary options, one touch and the 60 second options. It also features relevant chats and a portfolio that allows investors to view their trading history.
Getting Started With Finpari
If you want t be part of this impressive platform, all you need to do is fill some basic information such as name, email address and preferred currency. If you do agree with the terms and conditions stated by Finpari, you are good to go.
Those who are not conversant with trading options can take advantage of Finpari’s education center. Their education facility features helpful video lessons that are extremely versatile.
From their professionalism to their wide range of services, there is no doubt that Finpari is emerging as a major industry leader. If you’re looking for a broker that will offer you an exceptional trading experience, Finpari is your go-to service provider. Thumbs up Finpari!
Binary Option Robot
In the binary options marketplace, the broker is one of the most essential players. This is because brokers hold the trading accounts of traders and they are responsible for the provision of signals, handling deposits, making payments and generally looking for the best solutions in the binary options marketplace to allow the trader to maximize his profits. Binary Option Robot is the leading broker in the binary options business today and this is why:
1.Rate of return: Why do traders venture into the binary options marketplace? They are looking for ways to make the highest returns from the lowest investment. With Binary Option Robot, this expectation is met as a broker can achieve the best rate of return in the binary options business today. With a proven 83% return on investments, traders who retain Binary Option Robot as their preferred broker have every reason to be proud. This is because they are receiving the highest ROI from their investments as compared to other brokers in binary options trading.
2.The trading platform: Binary Option Robot is an advanced trading platform which is user friendly and matches all the expectations from a top broker in the industry. Using sophisticated algorithms and professional traders who analyze all the market data available on various trading assets and indices, Binary Option Robot provides signals of the highest quality. These signals are what actually help traders to make winning trades. With an accuracy rate exceeding 80% all the time, you can be assured that 8 out of every 10 trades you make with this broker will all be winning trades. This is what makes Binary Option Robot the leader in this field.
3.Trading assets:Binary Option Robot does not limit the assets you can trade with to a selected view. With this broker, the range of assets you can trade with is quite wide. Whether you want to trade in currency pairs, commodities, stocks or indices, Binary Option Robot has a wide variety of each which translates to the fact that you will always find your favorite assets on every trading session. This allows you to maximize the trading opportunities that come with your favorite assets.
4.Customer support:At Binary Option Robot, customer support is taken very seriously. They recognize the fact that the satisfaction of their clients is an integral part of the success of both the trader and the broker. For this very reason you can be assured of receiving the best support in the business as a trader. With a support system that works all around the clock, you will have the channels of phone, live chat and email all open and ready to respond to your queries.
5.No downloads:Binary Option Robot does not need you to download software that needs to be updated time and again. The system is completely web-based – you log in from your browser from anywhere and you are ready to trade. This saves lots of time apart from relieving you off the worry that the software may become outdated while you are still trading which may make you miss out on new features. This system is constantly being upgraded and every time you log in, you can be sure that you will be trading on the current update at all times.
6.Bonuses:Trading with binary options is not so tricky. When you have a broker like Binary Option Robot, the more money you have to trade with, the higher are the profits. This becomes even better with all the bonuses that this broker provides. The joining bonus as well as other varied bonuses that you will be given once you start trading are added benefits. This increase in trading deposit will only mean that you will be making huge profits all the time.
7.Training and technical tools:Every good broker offers to traders the most advanced technical tools to aid them maximize their profits. Traders who have Binary Option Robot as their broker can utilize tools such as trading charts, asset information, and many more technical tools which shall enable them to have the best trading experience. At Binary Options Robot, traders will also have the opportunity to transform themselves into better traders as they are provided with the best training tools in the market. These include eBooks, webinars, videos, trading charts, and manuals.
8.Compatibility with modern devices:Gone are the days where you had to be seated in front of your personal computer at home or at work to carry-out trades. Today, any broker worth his salt will have his system operating on all modern devices. Binary Option Robot’s software is compatible with your laptop, tablet or smart phone. You can trade anywhere and at any time, as long as you have an internet signal.
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