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List of the 11 Best Binary Options Brokers – Review 2020
The choice of a good Broker is undeniably one of the hardest steps to successfully trade as a beginner. My Binary Options Broker list and comparison can be very helpful here because the selection of brokers on the internet is quite large and therefore the chance to find a good broker. Find your suitable broker in a few moments in this honest review.
|Broker:||Review:||Regulation:||Min. Deposit:||Yield:||Advantages:||Open Account:|
|1. IQ Option||(5 / 5)
|CySEC (EU)||10$||up to 100%+|
Huge range of assets
High Yield 92%
High Yield 87%
High Yield 95%
Trade with cents
Huge range of assets
Binary Options is a financial instrument to trade worldwide assets with the possibility of a high return on investment. It is like betting on rising or falling markets. There are only 2 options, that is why it is called “binary”. You can win a high return of 75 – 95% in a selected time horizon or you lose the amount of your investment. It is so popular because it is a way to trade the markets very fast (5 minutes or less) and easy. I have to mention here you can trade it longterm too.
For more information about the financial product and how it works read the article: “How are Binary Options are working?”
The criteria of the Binary Option Broker Review 2020
If you looking for a good broker, you should following the next steps when you check the company. Sometimes traders get scammed by a bad and criminal broker. With this review and comparison, we try to prevent it. Furthermore, Binary Options are very risky. You only should invest money, which you can afford to lose. You can check the following criteria for finding the best company.
Criteria for a good and reliable Binary Options Broker:
- The official physical address of the broker
- Regulation or license
- Free Demo Account
- Experience in the markets
- Good support and service
- High asset profit and fast execution
- User-friendly trading platform
- A platform for mobile trading
Reliability of a broker and safety for traders
It is important to look at how long the broker has been on the market. I easy checked it on the homepage from the financial companies. A good broker provides you with all the information which you want to know. Some companies got an international regulation or license. Also, this is good for reliability. In addition to that, I checked the address of the brokers in this review. As a trader, you want to see clearly an official address of the company. At latest a trader should trust a broker. If you are not sure, just invest a less amount of money first and check the platform by yourself.
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Official regulation and license are very important
High payout and asset return of investment for Binary Options
One of the most important point to consider is the asset profit. The average of the payout in this review is 75-95% for each Binary Options trade. There are differences between the brokers. Every trader wants to make a high profit in trading. If one broker got less asset profit like – 5%, this can be a huge restriction to you possible profits.
Moreover, every time the payout depends on the traded asset. Normally the broker provides the highest payout on the most traded asset. In addition, the payout can dependent on the expiration time too.
Which broker provides the highest profit?
Free and unlimited Demo Accounts are necessary for every trader
The broker should provide you with a free demo account. This is an account with virtual money. It is made to practice the financial product and to test the trading platform. You can trade Binary Options without any risk with this virtual money. It is completely free to use. Also, traders can develop new strategies or improve their trading skills. Advanced traders or beginners try to trade new assets for the best success with this account.
Open your free demo account now.
On the other hand, sometimes the broker gives its traders trading tips for analysis or strategies. The demo account is perfect for practicing that new knowledge. Trading is very complex and often it is not easy to find the right way. This is the main reason for using a demo account. Most traders gain experience first before they invest real money. With own experience, it is possible to get a high profit with trading in the right direction.
How to open your real account
The opening of a real account should be as easy as the opening of a demo account. In most cases, it is very easy and fast. The broker requires some additional documents and data of the trader to proof their personality. Upload a picture/copy of your passport. Sometimes they require a utility bill. The broker will check the documents and verify your account in less than 24 hours. Important information: The broker only withdraws full verified accounts. (Not every broker requires this documents)
What do you need:
- Data: Full name, address, birthday, phone number
- Picture/copy of your passport
- Sometimes picture/copy of a utility bill
Review of the Binary Options Brokers support and Service for traders
As a trader, you need good support and service. Most brokers are showing experience and knowledge in Binary Options. The Binary Options Brokers in this review give you the best and fastest support. According to that, they give traders sometimes a good education with webinars, videos or strategies. For beginners, it is important to learn theoretically about Binary Options. It is a risky financial product.
You can learn the basics and advanced trading knowledge in webinars with experts. The most brokers first show you the basics like functions of candlesticks and the use of technical indicators. Usually, a trading platform offers more than 30 different indicators. Sometimes it is hard to find a good working strategy with them. In addition, they give you some advanced knowledge and information to rule the markets. Most brokers offer you a better education if your deposit is higher (see account types).
Another option of service is account types. For big traders with high deposits and high trading volume, some brokers offer different account types. As a trader, you can get great advantages. They offer you higher yields, better support, bonus or a cashback program. This is a way to get more profit in trading. For example, the broker offers you a higher asset profit of 5%. That can be very helpful.
The companies in this review offer you:
- Chat support
- Telephone support
- Email support
- Education centers
- Webinars, videos, strategies
- Account types
- Account managers
Diversity of assets and test of the Binary Options trading platform
I tested the trading platforms of the Binary Options Broker Review. In conclusion, they are very good and innovative. They give you a very good reaction rate which is important for short-term trading. You can use them for your computer or as an app for your mobile phone. In addition to that, they are very flexible and customizable. Use different indicators for the best strategies. As you see in the picture below I am using Bollinger Bands and the RSI. They are very popular.
First of all the trading dashboard is the most important point of the trading platform. You should be able to switch very fast between different expiry times and create new trades. Some strategies are designed to have multiple trades open at the same time. The brokers in my review provide you the fastest execution time. Secondly social trading very popular. In some trading platforms, you can copy the best traders of the broker and make an automatic profit. They show you transparently what they are trading and you can start copying them.
Another important point is the flexibility of the platform. An app should be available for mobile trading. On most platforms, you can customize the chart very easy. Thanks to the digitization, platforms are getting better and the brokers always try to improve them. Use free indicators and technical tools for your analysis. Moreover, you can use the newsfeed to trade exactly high volatility. Market news occurs every day – Why not use them to make money?
Facts of the Broker Review:
- Fast execution for your trades
- Use indicators and more
- Apps for mobile phone
- More than 50 different assets
On the most trading platforms, you can trade Binary Options with forex, stocks, cryptos, and commodities. There is a big diversity of assets for you. The yields depend on the category of the asset. More often than not the most traded asset gives you the highest yield. You can easily see that on the platform.
Weekend Trading (OTC) and Cryptocurrencies (Bitcoin and more)
Each broker in this list provides the service to trade on the weekend. The platforms are open 24/7. Weekend trading is allowed and advocated. On the weekend you can trade Cryptocurrencies like Bitcoin, Ethereum, Ripple and Forex OTC charts. Cryptocurrencies are traded decentralized and the stock market is open 24/7 for them.
Especially attention should be paid to the OTC Forex charts. Normally the stock exchanges are closed on the weekend but the international internal bank market is working. The volatility is much less than in the normal working days Monday – Friday.
The first steps for your Binary Options success:
- Learn the Binary Options basics. Information for trading Binary is available at the broker platform or the internet. For questions, there are certain forums available.
- Develop a successful strategy. Most brokers will help you to find a way to trade successfully.
- Use the Demo account. It is an account with virtual money. So you trade without risk the markets.
You should ask yourself these questions:
- What do I want to achieve with the trading of Binary Options?
- How much I want to invest?
- Where, on which market I want to trade?
- How do I react to losses?
- What are the chances of winning?
Deposit and withdrawal by a Binary Options Broker
Nowadays the deposit is easy like the withdrawal. Most brokers only need a small amount of money to open your real account and give you access to the market. Capitalize your account in few seconds with a credit card, bank wire, cryptocurrencies or other e-wallets. Today it is very simple. The withdrawal systems are working very good too. Sometimes it is fully automatic. Most companies payout in less than 24 hours. In addition in a lot of cases, there are not any fees for you. Another important fact is brokers only withdrawal verified accounts. So get your account full verified with the right documents as mentioned before.
Bonus Programs and conditions for traders
Bonuses are very popular in the section of Binary Options Brokers. Most companies offer a deposit or a no-deposit bonus. There are a huge diversity of promotions for traders. Mostly the bonus depends on the deposit amount or you can choose it manually. For example, some brokers offer a bonus of more than 200%.
It is a good way to top up your trading account balance and earn more money. You can trade with more risk and grow faster your account, but you should not forget the bonus conditions. Every time there are requirements for the bonus. For example, you do a deposit of 5000$ to your broker and trade with sensible money management of 1% of the account balance per trade. That means you invest 50$. Now you activate a bonus of 100% and additionally you get extra 5000$ and your account balance is 10.000$ now. At the moment you can trade with sensible money management with an amount of 100$ per trade. That sounds good and you grow your account faster as without bonus.
The deposit bonus is a good way to increase your account balance and to trader with more risk.
As mentioned before there are conditions of the bonus. Simply there is the requirement of turnover of the bonus amount. Sometimes you have to do a turnover of x20 and sometimes you have to do a turnover x50. It is important to read the bonus requirements. If you got any questions, you can ask the support. In most cases, you will see the requirements transparent on the platform.
- Deposit bonus: Get additional money to your account balance.
- No deposit bonus: You will get a small amount of money for free, but you have to do a huge turnover before you can payout the profit.
Welcome Bonus for beginners
The no deposit bonus is named welcome bonus. There are different ways to get a welcome bonus. One way is to win a free demo contest (read more below) without any risk. You compete to other traders on the platform. The rules are easy to understand: Just try to get the highest account balance versus your competitors. If you win, the broker pays a high prize. It is like a welcome bonus because you do not invest real money.
On the other hand, as mentioned before the no deposit bonus is like a welcome bonus. There are a few brokers who offer this bonus. Just create your real account and activate the welcome bonus. The company gifts you any amount of money to your account balance but you can not withdraw the money. You have to do a high turnover of the welcome bonus like 30x or 40x. Recommend broker for a welcome bonus is Pocket Option.
Binary Options Tournaments
In addition, most brokers offer tournaments or demo contests for beginners and advanced traders. You must pay a fee to participate in a contest with a huge prize fund. The rules are very simple: You get a separated demo account where you have to get the biggest balance as possible. You will compete against other traders of the broker. Sometimes there is a prize fund of 100.000$ or more. Furthermore, it is not easy to win the contest because there are a lot of competitors.
The demo contest is a tournament without participation fee. That meant that the prize fund is much smaller than the paid tournaments. But it is a good way to earn money with a small amount of money (participation fee). If you are a successful trader, you can easily win these contests.
Countries for traders
Binary Options are not allowed in every country of the world. In addition, some countries forbid trades to use foreign brokers. Most brokers accept international traders, but there are restrictions for forbidden countries. You can not generalize it because the broker decides which customer he accepts.
Nowadays Binary Options become more and more popular for traders. It is a simple and efficient financial product. It is possible to generate a high payout in a short time horizon. Asian and Africa are growing very fast and people like the function of trading. The brokers in this review try to improve their service in this region of the world because the demand is very high. They improve their customer support with different languages and other services.
The fastest growing countries:
Are Binary Options legal?
Sometimes there are some restrictions to this financial product that depends on a particular country. Personally, I only know one area where Binary Options are forbidden. It is the European Union but some offshore and international brokers accept EU traders. It is like gambling on rising or falling markets and easy to understand. The EU tries to protect its citizens because there are a lot of scam brokers. To prevent a scam, use the best brokers of this review.
Find the best Binary Options Broker 2020 – Conclusion of my review
On this site, I showed you the idea of finding a reliable Binary Options Broker. In the list, you see the best companies in 2020. For successful trading a good broker is necessary. The company should allow you your own strategy of trading and give you good support and service. On most platforms, you can learn via education videos how Binary Options are working.
Also important is the execution of your trades. It should be very fast and with no delay. Usually, every broker does that. Nowadays as a trader, you can start with a small amount of money to trade Binary Options (10$ or less). It is possible to turn it in a high amount with the right strategy. In conclusion on this site, you can find the best and proofed Binay Options Brokers 2020.
Read more about them in my reviews:
I recommend this article if you can not choose between the most known brokers: “IQ Option vs. Olymp Trade vs. Binomo”
Binary.com Review 2020
Binary.com is one of the long-term binary options brokers available on global financial markets. Our Binary.com review revealed how they accept traders from South Africa and therefore, we decided to review their trading platform.
Binary.com initially appeared on financial markets back in 1999 and is operated by Binary Investments Ltd.
In the Binary.com South Africa review, we will take a closer look at the platform and trading instruments available to traders in South Africa. For more details about this safe binary options broker, read further in our Binary.com review.
Binary.com South Africa
Our Binary.com review showed how this binary options broker uses its own proprietary software, which puts him in the category of a few binary brokers who offer their own software to registered traders. They enable traders to use a variety of trading tools and a selection of different underlying assets.
Binary traders in South Africa should know that Binary.com is a regulated binary options broker.
Binary.com Mobile App
With a variety of useful features, the Binary.com mobile app will become a constant segment when trading binary options with this broker.
Key features of the Binary.com mobile application:
- Easy overview of trades on user-friendly interface
- Option to prepare for up to 5 trades at the same time
- Having access to features and trade options from the new sidebar menu
- Easily track past trades and monitor them under the Watch List tab
The mobile app is a great option for busy traders in South Africa who want to have access to trading platform from anywhere. The Binary.com mobile app is available on both Android and Apple devices and can be downloaded from Google Play and the Apple App Store.
Overall, mobile trading is becoming a great way to trade binary options since it is mostly used by busy traders who want to have access to the trading platform even when they are not in front of their computers.
The Binary.com app offers basic features needed for a successful binary options trading process. They have also prepared an Asset Index where they have listed several underlying assets available to trade with.
We find the simplicity of mobile apps to be a very important element of profitable binary option trading via mobile platforms. The Binary.com app is protected, which is important, but it could be updated a little bit more with extra features and a longer asset list.
We also learned that the Binary.com app offers registered traders a selection of different trade options, including both short-term and long-term ones. This way, all types of traders can trade binary options, including those who prefer riskier trading and those who don’t.
Is Binary.com Regulated in South Africa?
Binary.com does not hold a license from FSCA in South Africa however it is the only binary broker in the world to be regulated by MFSA (Malta, EU). The Maltese authorities made it virtually impossible to get licensed on Malta for financial services however given Binary.com formerly know as BetOnMarkets.com was considered a bluechip investment company they got a license. If you look on the website of Binary.com you will find that they are regulated in many jurisdictions.
It is important that a Broker does not necessarily have to be regulated in all jurisdictions in the world as some licenses are valid in many countries where local laws doesn’t have a proper regulator or an active regulator in the online trading space.
We have with 7 years experience not heard any problems about Binary.com in South Africa. We have not seen South Africa warn traders and citizens of South Africa to be on alert of Binary.com. We believe it is safe to say that if Binary.com was a scam operation set out to lure people in and steal their money, they would have done so by now and closed down the operations.
Binary.com Trading Features and Services
Our Binary.com review revealed to us how they offer a long list of trade options, combined with an exceptional list of different times of expiry. South African traders can choose whether they want to trade with the following trade options: One Touch, High/Low, 60 Seconds, Boundary, Long Term and Touch Options.
Traders can select between short term and long term expiry times, covering trading within 15 s, 30 s, 60 s, 2 min, 5 min, 15 min, 30 min, 1 hr, 24 hr, 24 hr+, end of day/week/month, 30 days and 150 days as maximum.
Traders can invest in different underlying assets, such as forex, commodities, OTC stocks, indices and volatility indices. A full list of assets can be found under the Asset Index at the bottom of the website.
Binary.com South Africa launched the MetaTrader 5 trading platform, which will start with volatility indices, while additional assets will come shortly. With MT5, traders in South Africa are able to:
- Use advantages for algorithmic trading
- Have custom-designed trades for higher payouts
- Have access to platform 24/7
On the other hand, they do offer binary trading demo account, which is an excellent news for inexperienced South African traders. When traders register on this platform, they will be offered with $10 000 of virtual money for safe trading. Binary trading for South African traders on Binary.com demo platform is risk free since traders don’t invest their real money, but instead they get a chance to practice and test trading platform in order to have better trading results.
Binary.com has prepared one of the best educational sections, together with a blog. At the Learning Center, South Africans can find training videos, including those related to different assets. Also, traders can get more information about security tips, weekly market updates, glossary and FAQ. especially for new traders, Binary.com prepared a tab called New to Trading? and educational webinars to gain more trading knowledge.
If you would like to compare Binary.com trading platform with another binary option platform, you can check iq option free demo and see is this broker more suitable for you.
Another thing we came across Binary.com review is that they have implemented charts in real time, such as candlestick graphs and JAVA software, which enables traders to easily detect price range of chosen asset.
Binary.com Customer Support
What we discovered in Binary.com review is that they offer assistance via several communication channels, such as: email [email protected] , live chat and phone for several countries worldwide. Binary.com also has offices in different countries (Malta, Japan, Malaysia and Isle of Man).
This way, traders can ask for help whenever needed and live chat is shown as the quickest option, since the support agent joined the chat within seconds. Having good customer support is valuable to have since traders need to trust their binary option broker, who will assist them achieve success while trading.
Also, this broker supports GameCare, an organisation which supports people with trading issues.
Binary.com South Africa has a multilingual platform, available in the following languages: English, French, Spanish, Russian, German, Polish, Portuguese, Italian, Arabic, Indonesian, Vietnamese and Chinese.
Binary.com Banking Info
Traders in South Africa should know how registration on Binary.com is free, however deposit is required to start trading with real money. Minimum deposit for Binary.com amount is $5, which is extremely low and also attractive for traders to join and begin their binary trading experience.
They offer an absolutely amazing list of deposit methods as we discovered in the Binary.com review. It is important to keep in mind how the selected payment method while depositing has to remain the same as when withdrawing.
Under the Banking tab, traders can click on Cashier to select a payment option and upgrade to a real account.
Available deposit methods with Binary.com are:
- Debit / credit cards: Mastercard, Visa and UnionPay
- Bank wire: Western Union, Internet Banking, Internet Bank Transfer and Bank Transfer
- E-wallets: Skrill Moneybookers, Neteller, OK Pay, FasaPay, Perfect Money, Moneta.ru, WebMoney, QIWI, Yandex.Money and PaySafe Card
With cards and e-wallets, deposits are instant, while withdrawal time depends on the selected option, but is usually between 1-2 working days. Only via bank wire, withdrawal time can go up to 5 working days.
Fees are low with Binary.com and only via bank wire transfer, fees are $25.
There is no need for traders in South Africa to send any documents to authorize trading accounts. It is important to mention how payments are made only with AAA-rated banks, which implies better confidence for registered traders.
IQ Option Review South Africa
IQ Option South Africa is a regulated and award-winning online broker that enables traders a wide range of instruments and underlying assets. Operated by IQ Option Ltd, the licensed options broker offers its services to traders across the world.
It is important to note that IQ Option South Africa is one of our most highly recommended brokers for investors in South Africa.
On top of from their top-notch trading platform, another highly appealing IQ Option South Africa feature is their incredibly low minimum payment. You can start trading for as low as $10 and get access to a proper live account.
Read our full review on one of the utmost brokers out there, or skip straight to the part you are interested in below:
*The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
IQ Option Review: Trading Platform and Versatile Assets
While they originally started as a binary options broker, they quickly became a broker that has it all, from CFDs/Forex and Classic Options online trading. This makes them one of the most versatile brokers for online trading. Basically, whichever instrument or underlying asset you can think of – they have it.
The minimum trade price is $1 for binary options and digital options, and $20 for forex and CFDs. The maximum option price is $5,000. You can even place multiple trades with a variety of instruments offered on IQ options’ trading platform. All that you have to do is select the asset in the upper left corner and the instrument below.
Currently, available instruments are:
- Binary Options
- Forex CFDs
- Cryptocurrency CFDs
- Classic options
- Stock CFDs
- FX options
On IQ Option trading platform, you can place trade contracts and options based on numerous stocks, currencies, commodities and indices. There are more than 500 underlying assets, to be exact.
Specifically, there are currently 90 currency pairs available, including all the most popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, IOTA, Dash, Ethereum Classic, Monero, OmiseGo, Zcash or Santiment. Of course, these currencies also include EUR, USD, GBP, RUB, AUD, CAD, NZD and Yuan.
Tip: Check out what Twitter CEO Jack Dorsey recently said about Bitcoin and how you can properly trade Bitcoin CFDs at IQ Option.
Recently, IQ Option assets have been expanded by adding cannabis stock CFDs, which have become increasingly popular in the online trading market. Examples of marijuana stocks you can trade at the IQ Option are: Aurora Cannabis Inc, Canopy Growth Corp, Cronos Group Inc, GW Pharmaceuticals – Adr, Tilray Inc-Class 2 Common, Anheuser-Busch Inbev-Spn Adr, Etfmg Alternative Harvest and many more.
IQ Option Multiplier
South African IQ Option traders can benefit from the bigger ×20 multiplier. As for leverage, IQ Option South Africa offers leverage on up to 20x for stock CFDs and FX trading of up to 1000x – known as the 1000x multiplier. Our IQ Option review finds that traders use this tool only if they fully understand that higher leverage may mean higher returns, but can also result in higher losses.
The multiplier allows South African stock traders to take advantage of the high volatility of the current stock market by being able to apply the high-risk-high-return way of trading.
In other words, traders can make a smaller investment and win as if they had invested a lot more, 20 times more to be exact. For instance, a South African stock trader might be willing to risk $200 only. By using the x20 multiplier, the investment amount will go up to $4000.
However, if the stock trader fails to speculate the correct direction of the market, then the loss will never be more than the initial investment. As a result, traders can take advantage of the bigger multiplier and keep their capital safe at the same time by not risking more than they originally invested.
IQ Option South Africa Trading Platform
Unlike so many other brokers in the industry, IQ Option South Africa uses its own software, the IQ Option trading platform, which they continue to update and enhance regularly.
The IQ Option trading platform is highly developed and entirely user-friendly, so all traders should be able to easily navigate through the site and online trading room. With their easy-to-use interface, you can trade in the office, at home or on the move through their mobile trading platform.
Yet, is IQ Option safe? IQ Options South Africa is currently responsible for more than $11 billion worth of trades every month, so it has a proven track record of making trades as simple as possible.
One thing is certain: IQ Option South Africa offers the ultimate online trading experience for everyone – no matter your experience.
How Do I Trade on the IQ Option Platform as a Beginner?
One thing that makes the IQ Option trading platform’s interface so easy to use is the fact that all of the trading instruments are available on exactly the same dashboard.
All you have to do is:
- Select an asset you prefer
- Predict this asset’s direction
- Make an investment
- Close the position
Binary options trading is even easier with an auto trading robot because the trades close themselves automatically when the expiry time has been reached. Unfortunately, this feature is not available with IQ Option South Africa.
Throughout this entire process, as reported in our IQ Option review, this broker offers many charts that display the most recent market trends, so you can make judgment calls with the most recent data at hand. There is also always the option to set your Stop Loss and Take Loss Profit — so there’s no need to constantly monitor trading positions.
For more details and a video tutorial, visit our binary option trading guide.
In addition, their trading platform is multilingual and available in English, Italian, German, Russian, Spanish, Turkish, Portuguese, Chinese, French, Swedish, Korean, Arabic and Indonesian.
With the quality of their services and their up-to-date customer support, it shouldn’t surprise us why this broker is so popular among traders worldwide.
IQ option 4.0
IQ Option use their own proprietary software and latest news we received is that they have made an upgrade to IQ Option 4.0 version. For the new redesigned proprietary trading platform features WebGL, it took 12 months to be completely developed. Features, such as extra 2 indicators, new chart types and graphs available on one screen are now available on the trading platform for profitable binary options journey. Traders can access these new trading instruments on Windows and OS X and see how IQ Option platform is now improved to IQ option 4.0. Thanks to great improvements in technology section, such new features can be implemented and are considered to be a significant indicator in showing how IQ Option 4.0 technology advanced the binary broker trading platform.
What are IQ Option Price Alerts?
To make your life easier, IQ Option recently added a brand-new feature to their online trading platform: price alerts. Price alerts automatically notify you when an asset has reached the price level you want.
Part of being a successful trader is knowing when to act, in other words when to buy or sell an asset. No one wants to be glued to a screen staring at charts and financial market news all day. Thanks to IQ Option’s price alerts, all you have to do is set up an alert for the assets you want and IQ Option South Africa will automatically track them and send you a notification when the price you were waiting for is reached.
To set up an alert:
- Select an asset
- Click “Create alert”
- Set the price you want to be notified for
Getting Started – IQ Option South Africa Trading Accounts
Registration with IQ Option South Africa is completely free, and everyone can get started with a deposit as low as $10.
Even so, anyone in South Africa can experience what this powerful online trading platform has to offer without spending a penny, through the demo account, completely free.
IQ Option Free Demo Account
All registered traders from South Africas have the option of using IQ Option Free Demo Account practice account, before depositing any money. This means beginners get to learn the basics of online trading entirely risk-free. If you are an experienced trader, on the other hand, you can fully test the IQ Option trading platform before investing any real money. Most traders in South Africa find that one of the key metrics of binary options brokers quality is precisely whether they have a binary options demo account or not.
The IQ Option South Africa demo account is funded with $10,000 of virtual funds to practice with, which can be re-filled at any time.
Once you have practised on the demo account and are ready to start trading for real, IQ Option offers two separate account types they can choose from: the Real Account and the VIP Account.
Real Account ($10 Minimum Deposit)
As mentioned before, as a South African investor, you can begin trading with IQ Option with the minimum amount of $10, which gives full access to a Real Account and all trading instruments and services. The number of assets available is 500.
Traders in South Africa also have the option to participate in different trading competitions and access their numerous trading tools.
All withdrawals can take up to 24 hours.
VIP Account ($3,000 Minimum Deposit)
In order to access the VIP Account, a minimum payment of $3,000 is required.
In return, you get an IQ Options South Africa VIP account, with unlimited access to a variety of useful trading instruments and special features, such as:
- Higher profitability rate (3% advantage)
- Personal VIP account manager
- Free tournament participation
IQ Options South Africa Education Resources
Trading global currencies can be a daunting prospect for beginners, but IQ Options South Africa has the education resources available so that you can, even if you are a complete trading newbie, fully understand and be able to take advantage of all that IQ Option has to offer.
Besides the demo account that is available and entirely free for all South Africa registered users, IQ Option offers various video tutorials that you can use to hone skills and master the mechanics of online trading.
One of the main reasons for the rising popularity of IQ Options South Africa among ordinary investors is also the community spirit it offers. If you are not sure or want to ask anything, you can always call upon the support or get advice from industry professionals and fellow traders. The best part is that you can do this all directly through the IQ Option trading platform.
IQ Option Affiliate Program
Besides earning a spot as South Africa’s top binary trading broker in our awards, you should check out the IQ Option Affiliate Program.
An affiliate program is for all those users in South Africa, who are not looking to trade with IQ Option themselves – but partner with them. By becoming an IQ Option affiliate, you can earn up to 70% of profit by promoting the award-winning broker on your blog or website.
All you have to do is:
- Join the IQ Option South Africa affiliate program
- Get your own affiliate link
- Post this link on your blog or website as an ad
- Earn up to 70% of commission when a user clicks on your link and starts trading with IQ Option
Your earnings will then be transferred twice a month via your preferred payment method.
How to Contact IQ Option South Africa
The customer support team at IQ Option South Africa is available 24/7 through email ([email protected]), phone or online web form.
Unfortunately, there is no direct phone number in South Africa available yet, but we listed the numbers that you can find on their website and call for their support any time.
IQ Option also offers a live chat, which is available for all traders in South Africa directly on their trading platform.
IQ Option South Africa Deposit and Withdrawal Methods
IQ Options South Africa takes the security of all its traders very seriously and presents no difficulty throughout the deposit and withdrawal process – which many traders in South Africa already know, can be a frustrating common practice when it comes to other brokers.
With IQ Option, the estimated time of withdrawal is one business day. The minimum withdrawal amount is $2, due to commissions. With IQ Option South Africa you have the option to deposit in South African Rand, as well as many other currencies. Check out the table for more information on minimum payment amounts.
By trading in South African Rand, you can easily avoid those pesky conversion rates!
As you can learn from our IQ Option Review, you have a variety of different payment options that you can use to deposit in South Africa, including:
- Debit (Maestro and Visa Electron)
- Credit cards (Mastercard and Visa)
- Bank wire
- e-wallets (Skrill Moneybookers, QIWI, WebMoney, iDeal, Neteller, FasaPay, Boleto and CashU)
1-click deposit feature allows even easier way to deposit with IQ Option. South African traders are able to directly make a deposit within the IQ Option trading screen. They only have to enter preferred amount to start trading and click on Proceed to payment button.
Before, traders were able to deposit only in separate page, while now, they can do it within few seconds in the trading screen. This comes as excellent feature that will assist traders to experience simple trading process with this broker.
Their entire payment procedure for all traders in South Africa is explained in detail on their site, which is very important and an immediate indicator of transparent business conduct.
IQ Option Scalping Strategy
Scalping strategy is one of the strategies used in binary options trading. It is a trading technique to skim profit by opening and closing positions within minutes from the financial market. Scalping strategy isn’t so difficult to overcome and to become more experienced in binary trading process. To have a good results with scalping strategy, traders in South Africa should know which expiration times can they use during trading process and it depends on the chosen trading platform.
IQ Option scalping Binary options scalping strategy may include different analysis and trading indicators. Usually, charts as 60 seconds and highest 15 minutes are used for scalping in binary options. The idea is to ensure that a particular information received from the charts after analysis will happen in shortest possible period of time. Scalping strategy is considered to be highly speculative trading method. It is advised to test it first on demo account with virtual money, instead of investing real money with this trading strategy. It is mostly used by professional traders who have years of trading experience.
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