Binary Options South Africa – Recommended Brokers for 2020

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Broker!
    Best Choice For Beginners!
    Free Trading Education!
    Free Demo Account!
    Big Sign-up Bonus!

  • BINOMO
    BINOMO

    Perfect For Experienced Traders!

Binary Options in South Africa 2020

South Africa (Republic of South Africa – RSA), is the southernmost country in Africa. South Africa has a mixed economy, the 2nd largest in Africa after Nigeria. Unlike most of the world’s poor countries, South Africa does not have a thriving informal economy. Only 15% of South African jobs are in the informal sector, compared with around half in Brazil and India and nearly three-quarters in Indonesia … (Wikipedia)

Binary Options Brokers South Africa

(Recommended Binary brokers for “South Africa” citizens)

IQ Option – Free Demo Account, Min. Deposit – $10, Payouts up to 91% in case of successful trade.

Binomo – Free Demo, 24/7 Trading, Min. Deposit – $10, Payouts up to 85%

Binarium – Welcome bonus on your first deposit up to USD 500. Min. Deposit – $10, Payouts up to 85%

Binary Options trading in South Africa

Binary options trading and Forex is popular in South Africa at this moment. Many traders from RSA are still not sure if Binary Options is legal in South Africa or not. Binary options trading in South Africa are legal. South African companies are not allowed to become binary broker. However foreign companies are not forbidden to accept traders from RSA

Traders, if you’re from South Africa, please leave comment below. Let’s talk about “Binary Options trading” in Republic of South Africa

At US Binary Options our financial analysts have selected the top trusted US regulated binary platforms in 2020 and the best stock options brokers.

From 2020, we compare and provide professional reviews on all binary trading platforms in order to help you choose the broker that suits you best.

Check out our top Binary options brokers comparison table to find a trusted platform, and also our platform blacklist with scam brokers to avoid.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Broker!
    Best Choice For Beginners!
    Free Trading Education!
    Free Demo Account!
    Big Sign-up Bonus!

  • BINOMO
    BINOMO

    Perfect For Experienced Traders!

Read our guide about binary options trading for beginners as well as few basic binary strategies that you should take into consideration.

What are Binary Options?

These are a new kind of investment. What you will do is speculate on which way you think the asset will go in, or the direction it will go in. What you used to do was you have to purchase the asset now that no longer has to happen. When the platform is used to purchase a binary option the contract that is made enables the buyer to buy an asset which is underlying and at a price that is fixed and with a time frame that is fixed and specified with the seller.

Are there other Names for Binaries?

All or nothing options are also another name for binaries and are digital options + Fixed Return Options or FRO’s. Each of their names stresses the nature of the binary option. When it comes to outcomes there is always two possible results and this is something that the investor will be aware of before they purchase the option. The following is an example:

  • Binary option for Microsoft is purchased at $100
  • At the end of the day their shares will be much higher than they were when purchased
  • So 71% is the return offered on this investment

Binary Option

This is a particular category of option where a person would be able to get either all or nothing when there comes to talk about the payout. This thing makes binary options easier a lot to know as well as makes the trading process with them trouble free than the previous traditional options.

Expiration

These options are like this;

  • They can only be traded until they expire
  • Once these are expired, they would surely be settled for the customer in already specified amount (in dollars)
  • If the trade expires and it is out of the money then this means that the buyer gets nothing

So now you can see why binary options can either enable you to gain which is the upside or you end up with a loss which is the downside, there is always a risk when it comes to binary option trading. If you were trading in the traditional way then things would be different.

All or Nothing

When it comes down to the platform you are using for trading.

  • Nothing can mean something
  • Even it happens; at the time of expiration, the proprietor of the particular option could be given a payout yet when there is no money in their hands.

Binary options can also be found under other names including:

  • FOREX
  • Exchange Market
  • Digital Options

Other things to Learn

Before you decide to start trading there are a few things that you should research first including:

  • Learn the outcome options
  • Decide your position
  • Learn how the price is determined
  • Learn the advantages of binary and traditional options
  • Learn where binary options are traded
  • Check the implicit transaction costs of binary options

Regarding regulation for the offshore binary options brokers, we can affirm that some binary options brokers are already regulated in the European Union ( CySEC ), but not yet in United States.

Since 2006 US binary options have been in America but they have only just started to become popular since the middle of 2008. This has happened; traders and brokers have started popping up from many different states all over the US, what has happened is that people are now wanting to start a career in binary options trading and the one thing that is on every ones lip is:

Now when it comes to binary options are divided into two levels and these are:

  • US regulated exchange platforms by CFTC, where americans can trade binary options legally: NADEX and CANTOR EXCHANGE.
  • Offshore brokers not regulated.

The Ruling

The OCC or the Options Clearing Corporation in 2007 ruled that binary platforms would become legal then in 2008 the SEC or the Securities and Exchange Commission approved binary options and listed them as cash or nothing security. Then the American Stock Exchange or Amex and the Chicago Board Operations or the CBOE also listed binary options with exactly the same name. Then NADEX or the North American Derivatives Exchange added to its trading platforms binary options. But one thing has been done and that is a restriction has been imposed:

  • Americans are free to trade with binary options as long as the broker they are using is legitimate
  • The broker has to have a legal business in the county it is in and has to have followed and processed the procedures for it to operate
  • Also, they must not have been banned by the federal government for transacting with US citizens in this business

Regulation In The United States

Now just because something is legal it does not mean that it is regulated.

  • Legal means that it is protected
  • Regulated means that it is not protected

Well US binary options brokers are regulated and over the years binary regulations are becoming more and more stringent. It is the OCC that has made a point of making these regulations harder and also making sure that binary option sold by brokers have the right securities. Rules regarding trading have now been put in place and traders and brokers are expected to abide by them, if they don’t and they violate the rules then either or both trader or broker can end up being banned for long periods of time.

Limits

These have also been set for things such as indices and how many can be listed, this gives better control to the trading that is going on in the market. Scams have also started to rear their ugly heads when it comes to USA binary option trading too. Some of these scams have been very malicious and ended up causing some traders to lose thousands of dollars. But because of the SEC and the US Department of Justice have taken legal action very quickly against the crooks by doing things such as:

  • Freezing their bank accounts
  • Putting them behind bars

the traders that were scammed were able to get some of their deposits even though it is not the entire amount back, the federal government has been able to enforce justice when it is needed and making broker who was involved in the scams accountable for what they did wrong. This is now why there has been a hard-core regulation within the United States and they will keep on doing so until the binary options market is strong and reliable in America.

Best Forex Brokers South Africa for 2020

The ForexBrokers.com annual forex broker review (four years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Trading forex (currencies) in South Africa is popular among residents. While recommended, forex brokers are not required to become authorised by the Financial Sector Conduct Authority (FSCA) to accepts residents of South Africa as customers.

The Financial Sector Conduct Authority is the financial regulatory body in South Africa. Website: https://www.fsca.co.za. We recommend South Africa residents also follow the FSCA on Twitter, https://twitter.com/fsca_za.

The FSCA was established in 2020 as the successor to the Financial Services Board (FSB). The FSB had previously regulated South Africa since 1990. For a historical breakdown, here’s a link to the Financial Services Board webpage on Wikipedia.

Best Forex Brokers South Africa

To find the best forex brokers in South Africa, we created a list of all brokers that list South Africa as a country they accept new customers from. We then ranked brokers by their Trust Score.

Here is our list of the best forex brokers in South Africa.

  • IG – Best Overall Broker 2020
  • Plus500 – Best for beginners overall
  • Swissquote – Best banking services
  • Saxo Bank – Best VIP client experience
  • FOREX.com – Great platforms and pricing
  • City Index – Excellent all around offering
  • FXCM – Well-rounded offering
  • XTB – Best customer service, great platform
  • eToro – Best copy trading platform

South Africa Forex Brokers Comparison

Compare South Africa authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm’s ForexBrokers.com Trust Score.

Forex Broker Accepts ZA Residents Average Spread EUR/USD – Standard Minimum Initial Deposit Trust Score Overall Visit Site
IG Yes 0.700 £250.00 99 5 Stars Visit Site
Plus500 Yes 0.600 €100 99 4 Stars N/A
Swissquote Yes N/A $1000.00 99 4 Stars Visit Site
Saxo Bank Yes 0.600 $10,000.00 98 5 Stars Visit Site
FOREX.com Yes 1.00 $50.00 93 4.5 Stars Visit Site
City Index Yes 0.800 £50.00 93 4.5 Stars Visit Site
FXCM Yes 1.300 £300 92 4.5 Stars N/A
XTB Yes 0.780 $0.00 92 4.5 Stars Visit Site
eToro Yes 3.00 $200 91 4 Stars N/A
Pepperstone Yes 1.130 $200.00 83 4 Stars Visit Site
XM Group Yes 1.600 $5-100 81 4 Stars Visit Site
easyMarkets Yes 0.900 $100.00 81 3.5 Stars Visit Site
ThinkMarkets Yes N/A $250.00 79 3.5 Stars Visit Site
Vantage FX Yes 1.400 $100 79 3.5 Stars N/A
IC Markets Yes 1.100 $200 73 4 Stars Visit Site
ForexTime Yes 0.80 $100 70 3.5 Stars Visit Site
Alpari Yes 0.92 $100.00 69 3.5 Stars Visit Site
Instaforex Yes N/A $1 69 3 Stars Visit Site
UFX Yes 3.00 $100 66 3.5 Stars N/A
iTrader Yes 0.700 $250 66 3 Stars Visit Site
FX Choice Yes N/A $100 54 2.5 Stars Visit Site

How to Verify FSCA Authorisation

To identify if a forex broker is authorised by the FSCA, the first step is to identify the FSP registration number from the disclosure text at the bottom of the broker’s homepage. For example, here’s the key disclosure text from IG’s website,

IG is a trading name of IG Markets Ltd and IG Markets South Africa Limited. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance.

Next, look up the FSP number on the financial register available on the FSCA’s website to validate that the broker is currently authorized in South Africa.

More Forex Guides

Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The ForexBrokers.com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this Website (www.forexbrokers.com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with ForexBrokers.com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses ForexBrokers.com or any of its reviews, products, or services. ForexBrokers.com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

Advertiser Disclosure: ForexBrokers.com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.g. exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBrokers.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBrokers.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.

© 2020 Reink Media Group LLC.
All rights reserved.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Broker!
    Best Choice For Beginners!
    Free Trading Education!
    Free Demo Account!
    Big Sign-up Bonus!

  • BINOMO
    BINOMO

    Perfect For Experienced Traders!

Like this post? Please share to your friends:
How To Choose Binary Options Broker 2020
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: