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Contents

South Africa Binary Options Trading

The binary option represents a type of option where the payoff is a fixed amount based on asset of some kind. There are 2 types of binary options out there – cash-to-nothing binary type and asset-to-nothing binary type. You need to know those things in case you want to be part of the binary trading market all over the world. Many people are generating huge profits thanks to their binary trading skill.

However, in this particular article we would like to pay attention to South Africa. A country that is rather interesting when it comes to financial markets and investments.

Best Forex Brokers for Russian Federation

South Africa Forex Trading Specifications

In case you lack experience at all, it might be better for you to find regular binary option brokers in South Africa. As a matter of fact this is not a bad idea, even if you are dealing with forex. It is always safe to use a good helper. We would like to help you and due to this reason we will actually post a list of binary options brokers that you can use. Make sure you can analyze things like clear account closure, transparent account process, demo accounts, hidden taxes and fees, security, low commissions.

The overall volatility of the South African market is huge, and this is why the market is really suitable for risky players. The main factors you need to pay attention to are the demand for different stocks, for example. The risk, as mentioned, are higher, so you have to have good experience, and of course good partner!

In case you don’t have lots of money to invest, then this market might not be the best one with which you should start, but if you think you will handle the fluctuations, then take a look at the offers below.

As we mentioned, it is important to have a good partner when it comes to online binary trading in South Africa. All of the below mentioned brokers have been tested and have been in the business for quite a lot of time so they are really reliable. Take your pick!

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: Thursday, April 09th, 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 – Our Best CFD Provider 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

Broker Reviewed

Regulations and Licenses

Brokerage

Markets and Instruments

Trading Platforms + Tools

Overall

The Best MT4 Forex Broker In South Africa Is Pepperstone

The fasted-growing broker worldwide is Pepperstone based on their:

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  • 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.

0.18 0.27 0.13 0.24 0.13 0.20 0.30 0.20 0.50 0.10 0.30 0.44 0.36 0.58 0.10 0.20 0.50 0.20 0.30 0.20 0.42 0.30 0.20 0.83 0.44 0.29 0.68 0.24 N/A 0.16 0.40 0.70 0.30 0.70 0.20 0.50 0.80 0.40 1.10 0.40 0.70 0.80 0.50 0.80 0.40 0.99 0.77 0.45 1.21 0.44

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.

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.

Our Rating

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:

  1. Multiple trading account types (5 retail investor accounts)
  2. 11 funding methods
  3. 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
Forex Leverage 1000:1 1000:1 1000:1 1000:1 1000:1
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
Forex 1000:1 500:1 500:1 500:1 200:1 300:1
Index CFDs 20:1 500:1 200:1 200:1 200:1 300:1
Share CFDs 5:1 20:1 20:1 20:1 20:1 20:1
Commodities 10:1 150:1 500:1 500:1 25:1 to 200:1 150:1
Cyptocurrency 2:1 20:1 5:1 5:1 10:1 20:1
Bonds 5:1 200:1
Futures 50:1 200:1
ETF 20:1 100:1

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 CFD provider that caters to beginner traders is Plus500. Plus500 is a leading CFD provider that has financial services the suit beginner traders. Below, our team of experts 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.

While the Plus500 platform is recommended for beginner traders, we do not recommend using the platform in order to learn to trade. For this, we recommend their demo account where one trade with virtual currency rather than their own cash.

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.

Plus500 Pepperstone IC Markets FXTM HotForex FxPro
EUR/USD 0.6 0.13 0.1 0.4 1.2 1.4
USD/ZAR 85 10 23.9 88.7 29 65
EUR/ZAR 120 38.46 42.50 55 101
GBPZAR 219 80 176

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).

*Your capital is at risk ‘76.4% of retail CFD accounts lose money’

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
  • Masterpass
  • Payment Asia / UnionPay
  • Skrill
  • Zotapay Africa
  • PayPal

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:

  1. It’s regulated with the FCA, ASIC and is in the process of a South African FSP licence
  2. It has the lowest commissions and spreads from 0.0 pips for the EUR/USD
  3. Traders can choose from the most popular forex platforms, MT4, MT5 or cTrader
  4. It has award-winning customer support from live chat to the call centre
  5. 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
AxiTrader FSB, ASIC $200 MT4 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
Khwezi FSB R5,000 MT4 200:1
FXCM ASIC, FCA $50 MT4, NinjaTrader 400:1
Markets.com FSB, CySEC $100 Sirix Web,
Mobile
300:1
IronFX CySEC $100 MT4, MT5 500:1
Saxo Bank FCA, FSA, ASIC $10000 SaxoTrader 100:1
ACM Gold FSB R5000 MT4 500:1
BlackStone Futures FSB R5000 MT4, CloudTrade 100:1
JP Markets FSB R3500 MT4 500:1
Harborx CySEC $50 Harborx Platform 100:1
ALFA Financials FSB $1000 Alfa Trader 100:1
FxPro FSB, FCA, CySEC $100 MT4, MT5, FxPro, cTrader 500:1
XTrade CySEC $100 Xtrader Pro 400:1
Velocity Trade FSB $200 Protrader 75:1
Plus500 FSB, FCA, CySEC, ASIC, FMA, FSCA €100 Plus500 Platform
Plus500 CFD Platform
300:1

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

Thursday, April 09th, 2020

7 Binary Options

UPDATE (20.10.2020):

10Trade has shut down their operations.

We recommend choosing one of our top binary option brokers instead:

Min. Invest Min. Deposit Max. Returns
All brokers >>
Min. Invest Min. Deposit Max. Returns

Try also Binary Option Robot if you are looking for automated binary trading.

Old Review:

The banking system with this broker is very well integrated with the binary options trading platform. As such the deposit process at 10Trade happens to be very fast and seamless. However, the time taken for the deposited funds to reflect in your 10Trade account will mainly depend on the method you used to deposit the money. Just like with any other legitimate broker out there, there is a minimum amount that a trader is required to deposit into his or her trading account before he or she can start trading binary options on this platform. In this case, the minimum amount that any trader on this platform should deposit before trading in binary options is $200. With 10Trade, the minimum you can invest on any given passion is $10. This implies that a trader can carry out up to 20 trades with this minimum deposit, which is a good value for your money.

Before you deposit any money into your 10Trade options trading account, you should ensure that you have verified your account. This is done by submitting the necessary verification documents, as stipulated by the broker. The documents that you need to submit for the purpose of verifications include:

  • A copy of your government issued ID, residency card, passport or a driver’s license
  • A proof of your current residency- this may be in the form of a utility bill bearing information on your current residence and full name.
  • If you will be using your credit card to deposit money into your 10Tradeinary account, you also need to send a scanned copy of the credit card. The copy should depict the front and back sides of the card clearly. Additionally, you should conceal the middle 8 numbers on the front side and the CVV at the back of your card prior to sending the copies to the broker.

After you have scanned these documents, you should send them to [email protected] for the purpose of verification. While sending, you should mention your full name on the subject line of the email. With 10Tradeinary traders have numerous methods, though which they can fund their trading accounts. Foe instance, the broker allows traders to use credit and debit cards, bank transfers, wire transfers, as well as e-wallets to deposit money into their accounts. After your deposited amount reflects in your trading account, you can start profiting from making speculations in the financial market through 10tTrade.

The company supports many money processing methods. This leaves the traders on this platform with a wide field of choice, with regards to the method they can use to deposit or withdraw money. Some of the supported methods include Skrill, BitCoin, CashU, iDeal and Neteller. The company is also working tirelessly to provide its customers with more ways of depositing and withdrawing their money. The deposit and withdrawal processes at 10Trade are also very secure, since they are supported by a 138-bit SSL encryption. The functional and intuitive trading platform at 10Trade is designed to offer unparalleled level of freedom, when it comes to customizing their banking preferences and account set up. The banking system with 10Trade is also well integrated with the trading platform, which gives the traders easy time while depositing or withdrawing their money.

10Trade Login

Basically, the 10Trade was designed with the sole intention of offering high levels of integrity and technology in the binary options trading industry. Currently, the company has a turnover amounting to millions of dollars every single month. As such, the company has managed to build trust among it customers. The registration and login processes at 10Trade are also very easy and safe. To register for a 10Trade trading accounts, you need to fill the required personal details into the registrations forms provided by the binary options broker on its website. Once you have submitted the required personal data, the company will send you a verification email, which contains a link. You should click on this link to verify the information you provided during registration.

Before making the first deposit into your trading account, you should ensure that you have verified your 10Trade account. This is done by submitting the required verification documents to the broker. Ensuring that your accounts verified will give you easy time while carrying our various transactions on the site. Additionally, verification boosts the security of your account and makes it possible for you to withdraw your proceeds from your account. The verification process with 10Trade is fast as well, taking a maximum of 24 hours. After the account has been verified, you will have many deposit methods to choose from. You can then choose your preferred deposit method and make the initial deposit, the minimum amount being $200. The following is the breakdown of the registration process at 10Trade for a better understanding:

  • Navigate to the broker website and click on the Open Trading Account tab from the home page.
  • Fill the provided registration form with all the required information and click on submit.
  • Now go to your email address and use the link on the email that you receive from the broker to verify your accounts.
  • You should then send the required verification documents to the provided email address and wait for the company to verify your account.

If you come across any problem while registering for an account or signing into your 10Trade account, you should not hesitate to contact the customer care representatives. This may be done through the live chat feature on the broker website, by calling them through the provided phone number or submitting a query through [email protected] All these methods will ensure that your concerns are addressed by the professional and knowledgeable customer care team in the shortest time possible. As opposed to other well renowned brokers in this industry, all the traders on this platform are treated the same way. This is to say that the broker does not have different account options for traders to choose from. The trading options provided by this company include the One Touch, Boundary and the conventional High/Low binary options.

The list of assets that the trades can trade in on this platform is also wide and interesting. The traders on this platform can also experience the convenience and flexibility of trading in binary options by installing the mobile trading platform on their mobile devices. The mobile trading platform only supports the devices with iPhone and Android operating systems. Whether using the mobile or the desktop based trading platform, traders can easily and conveniently get in touch with the customer care representatives at 10Trade at any given time. The withdrawal process on this platform takes a maximum of five days, hence is one of the fastest in the industry.

Have you tried automated trading yet?

Other recommended auto trading robots:

Demo Account at 10Trade

The demo accounts offered by some of the well renowned brokers in the industry help the traders to enhance their binary options trading skills. Rather than risking real money to practice trading binary options, the traders may use a demo account. As such, the money you use in the demo account is virtual, so is the profit or lose that you make while using this type of account. Trading in binary options can be a bit confusing for the beginners as well as for the experienced traders, especially if they have signed up with a new broker, binary options robot or binary options signals services. Once you have mastered how to use the various binary options trading strategies and are conversant with the features and tools used on a certain platform, you can start to make good money with this platform. Regardless of the many benefits associated with demo binary options trading accounts, 10Trade does not offer demo accounts to the traders on its platform.

On the contrary, the company offers an array of supportive features to help their customers profit from trading binary options on their platform. The customer support at 10Trade is offered in more than ten languages, including Spanish, English, Swedish, French, Italian, Russian, Portuguese, Dutch, Norwegian and Polish. This eliminates language barrier as traders try to get professionals and highly beneficial customer support. Additionally, 10Trade also offers a regulated binary options trading platform, hence has managed to win the trust of many traders across the world. The traders on its platform may also get in touch with the customer care representatives at any given time of the day or night through the various channels provided on the broker website.

Although the broker does not offer demo trading accounts, this should not hinder the aspiring traders from signing up with and enjoying the convenience of trading in binary options through the broker. 10Trade is a regulated platform, hence safe and secure for traders’ money. The regulating body in this regard is the CySEC. The platform also features innovative as well as practical features and tools to help traders succeed in the industry. Although the broker does not advertise on the promotions and bonuses it offers, it has a horde of benefits for its clients, hence a well renowned and trustworthy broker in the industry. Additionally, the broker has gone out of its way to offer the traders on its platform access to a vast source of educational material, regarding trading in binary options. This being the case, the traders on the 10Trade platform can access eBooks, video courses, one on one training sessions and webinars on how to succeed in this industry. This information is far better than the experience any demo trading accounts can ever offer.

10Trade for USA Traders

Over the recent years, binary options trading have become increasingly popular in the United States. This may be attributed to the fact that the trade has its roots in the country. However, the binary trading industry in the USA is highly supervised and regulated by some of the most popular bodies in the world, the Exchange Commission and the Commodity Futures Trading Commission. Over the years, the strict regulations imposed by these bodies in the region have made it more difficult for many brokers to accept traders from the USA. Trading in binary options in the USA id not illegal; it is in accordance with the state law and federal law requirements in all the member states. Although the individual traders in this country are allowed to register with brokers and trade in binary options, the unregulated and offshore brokers are not allowed to accept traders from the USA.

This is to say that the US nationals are free to signup with any of their preferred binary options brokers, but it is illegal for the unregulated and a majority of offshore binary options brokers to accept traders from this region on their trading platforms. As a matter of fact, brokers cannot accept USA based traders unless they are approved by the CFTC. With this in mind, a good number of the brokers outside USA are accepting USA based traders without being certified and a good number of them are not accepting registration by the USA traders on their platforms. Some of them are offering quality and authentic services to the USA nationals, even without the certificate, but some of them are just, but scams.

If you are a binary options trader based in the USA, you basically have two main options, with regards to types of brokers. There are those that are legally accepting USA members and there are those that are not licensed to do this, but are accepting USA traders. Well, the choice as to which broker to opt for is yours, but 10Trade is not currently accepting registration by US nationals on its platform. This is mainly because of the strict regulations imposed by the US government. In addition to the USA, the 10Trade binary options trading platform is not currently accepting registration from traders based in a number of other countries, such as New Zealand, South Africa, Israel, Australia, Canada, Canada and Japan. If you are a trader based in any of these countries, you may register with the brokers featured on the 10Trade broker website and enjoy the exemplary trading platforms they offer.

Mobile Trading platform at 10Trade

A good number of traders today do not have much time to sit in front of their computers, analyzing the various assets and opening positions on the desktop-based trading platform. This is why an increasing number o trader in the binary options trading market are looking for a more flexible and convenient solution that allows them to trade in binary options while on the go. In order to address this concern, 10Trade unveiled a state-of-the art and highly innovative mobile trading platform for the traders on its platform. 10Trade has applied its leading technology in developing the highly efficient and very practical binary options trading platform.

With the 10Trade mobile trading platform, traders can now have the convenience of trading binary options from their Smart phones. As such, all you need is a mobile device that runs on an iPhone or Android software and the 10Trade mobile application installed in it. With the mobile trading platform offered by this company, traders still have access to numerous assets and support features to enhance their binary options trading experience. The platform has redefined the versatility of trading binary options today, because it features many supportive features and tools for traders to open and close positions while on the go.

With the 10Trade mobile trading platform, traders have access to a wide variety of assets to trade in, including more than 80 stocks, 11 paired assets, 23 forex assets, 35 indices and 8 commodities. This vast selection leaves both the beginner and the experienced traders with a lot of flexibility. The features offered on this platform are equally magnificent, including the Rollover feature that allows a trader to extend the expiry period for the assets they have chosen to trade in. additionally, traders can also double the investment on any given position while using the mobile trading platform. In this regard, the 10Trade binary options platform was solely designed to offer easy access, flexible and convenient trading experience as well as outstanding support features. Using this platform is also very easy for the new and existing users alike.

The payoff on the more than 150 assets offered on this platform is also very impressive. Some of the innovative products and tools you will come across while using this platform include the Ladder Options, Trader’s Choice, a buy-out feature and history graphs. The mobile trading platform offered by 10Trade also allows its users to use the 60 Seconds and the One Touch binary options, just like the 10Trade desktop based trading platform. With the mobile trading platform, trades can easily and securely deposit and withdraw funds into and out of their 10Trade accounts as well. As a matter of fact, your withdrawal request with the mobile trading platform at 10Trade will be processed in less than 48 hours.

However, you have to bear in mind that the standard withdrawal rules imposed by the broker on the desktop trading platform also apply to the mobile trading platform. While using wire transfer to withdraw funds from your 10Trade account, your request will be processed free of charge, provide that you withdraw once in a month. Regardless of where you are, you only need an internet connection and the 10Trade mobile trading application installed on your mobile device to read trading history, get trade alerts as well as open and close positions through your 10Trade account.

Bonuses offered by 10Trade

The 10Trade broker offers an array of promotional features and bonuses to its new and existing users alike. The rewards offered by this company include one-time trading credits and cash bonuses. The maximum amount of bonus that you can get while operating a 10Trade account is $10,000. This bonus is offered on a 30x turnover. All the cash bonuses offered by this company are limited time offers and are regulated by preset terms and conditions. While trading on the 10Trade platform, you have the option of either accepting or declining the various bonuses offered by the broker. The bonus you get from 10Trade may be used to open various options, including the 60 Seconds and the One Touch binary options.

The thousands of traders using this binary options trading platform from across the world are not only happy with the various bonuses offered by the broker, but also the various advantages and features offered by this platform. For instance, traders can attempt trading the riskier, yet fascinating Long Term and Ladder trading binary options, or just experience the beauty of trading the Pairs Trading possibility on this platform.

Restrictions on 10Trade Bonus Withdrawal

Although there are numerous and highly interesting bonuses offered by this broker, the bonuses are governed by certain terms and conditions that need to be met before the trader can withdraw the bonus, along with its profits. For instance, you cannot withdraw the bonus until you have met the preset minimum trading volume in your 10Trade account. In most cases, the minimum trading volume is set at 30, 40 or 50 times the values of the 10Trade bonus you received. For example, if the company awarded you a deposit of $500, you will be required to generate a trading volume of $20,000, before you can withdraw your bonus amount. While the company does not prevent their users from withdrawing their deposited money, the trader will not be able to withdraw any profits he will have made while using the bonus to trade in binary options, unless he or she has met the minimum trading volume.

While calculating the trading volume at 10Trade, the volume generated by trading Ladder Options and One Touch options is not taken into account. However, you may still opt not to get a bonus from the company and instead open positions using your deposited funds. In this case, the withdrawal requirements set for bonus withdrawals will not apply. If you have accepted any bonus from the company by mistake, you may still contact the support team at 10Trade to have the award reversed. In this case, the reverse will be carried out in not more than five days.

Tradorax Minimum Deposit ¦Secure Binary Broker South Africa

In this article you will learn How to Set Up a Binary Options Trade in 2020 Using Low Minimum Deposit Broker! Usually, the minimum deposit in the binary options industry is 250$ but on our website, you will find many binary options brokers who accept a very low minimum deposit starting from only 5$! The ability to trade the different types of binary options can be achieved by understanding certain concepts such as strike price or price barrier, settlement, and expiration date. All trades have dates at which they expire. When the trade expires, the behavior of the price action according to the type selected will determine if it’s in profit (in the money) or in a loss position (out-of-the-money). In addition, the price targets are key levels that the trader sets as benchmarks to determine outcomes. We will see the application of price targets when we explain the different types.

There are three types of trades. Each of these has different variations. These are:

  1. High/Low or Call/Put or Up/Down
  2. In/Out
  3. Touch/No Touch

High/Low

Also called the Up/Down or Call/Put binary options trade, the essence is to predict if the market price of the asset will end up higher or lower than the strike price (the selected target price) before the expiration. If the trader expects the price to go up (the “Up” or “High” trade), he purchases a call option. If he expects the price to head downwards (“Low” or “Down”), he purchases a put option. Expiry times can be as low as 30 Seconds. Please note: some brokers classify Up/Down as different types, where a trader purchases a call option if he expects the price to rise beyond the current price, or purchases a put option if he expects the price to fall below current prices. You may see this as a Rise/Fall type on some trading platforms.

In/Out

The In/Out type, also called the “tunnel trade” or the “boundary trade”, is used to trade price consolidations (“in”) and breakouts (“out”). How does it work? First, the trader sets two price targets to form a price range. He then purchases an option to predict if the price will stay within the price range/tunnel until expiration (In) or if the price will break out of the price range in either direction (Out). The best way to use the tunnel binaries is to use the pivot points of the asset. If you are familiar with pivot points in forex, then you should be able to trade this type.

Touch/No Touch

This type is predicated on the price action touching a price barrier or not. A “Touch” option is a type where the trader purchases a contract that will deliver profit if the market price of the asset purchased touches the set target price at least once before expiry. If the price action does not touch the price target (the strike price) before expiry, the trade will end up as a loss. A “No Touch” is the exact opposite of the Touch. Here you are betting on the price action of the underlying asset not touching the strike price before the expiration. There are variations of this type where we have the Double Touch and Double No Touch. Here the trader can set two price targets and purchase a contract that bets on the price touching both targets before expiration (Double Touch) or not touching both targets before expiration (Double No Touch). Normally you would only employ the Double Touch trade when there is intense market volatility and prices are expected to take out several price levels. Some brokers offer all three types, while others offer two, and there are those that offer only one variety. In addition, some brokers also put restrictions on how expiration dates are set. In order to get the best of the different types, traders are advised to shop around for brokers who will give them maximum flexibility in terms of types and expiration times that can be set.

If you will choose one from our recommended brokers, you can start trading binary options without deposit using binary options no deposit bonuses:

How to Set Up a Binary Options Trade in 2020 Using Low Minimum Deposit Broker

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect Choice For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sing-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

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