Legal South African Binary Options and Brokers for 2023
We have seen many people in South Africa with the desire to participate on the financial market and profit from it, but never knew how.
Now, with the appearance of binary options, financial trading has become easier than ever. With binary options South Africans now have an extremely convenient way of becoming traders through online investments with possible higher payouts than they have ever hoped for.
The best thing with binary options is that you don’t have to be an expert in trading. Binary options provides a straightforward way of making money and capitalizing on your limited insight into commodities, prices, stocks, currencies and everything in-between.
The attractiveness of binary options is composed of something else too. Its nature is very similar to gambling because in a way you bet that a certain prize will come up or down. Because of this, binary options has attracted many traders that love gambling too. It is also the reason why authorities have viewed it with doubt and were reluctant to regulate it.
List of Binary Option Brokers accepting traders from South Africa:
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Payout %: 90%
Payout %: 95%
However, when all the doubts cleared some years ago, governments all over the world started passing legislations with the purpose of making binary options legal and a valid option for profit. The subsequent result was the emergence of legal binary options brokers that provided traders with safe and legitimate tools for trading.
Frequently Asked Questions
Here we give you a round of questions and answers that will eliminate any doubts about binary options and its legality. The burning question is whether binary options trading is legal in South Africa, which is why it is the first question we answer below.
Is Binary Options Trading Legal South Africa?
Are there legal binary options brokers in South Africa?
Can I register with foreign binary options brokers?
How can I find the best brokers?
Are foreign binary options brokers safe?
Which are considered reputable licensing jurisdictions?
What are the best payout rates that brokers offer?
Can I deposit and trade in Rands?
How big are the bonuses?
Is there a way to try the service before making a deposit?
Are You New to Binary Options?
People that are new to binary options often get excited about it because it enables them to achieve high payouts in short period of time. Thanks to the fixed payouts and expiry times, you can choose trade options that can lead you to successful trading. That’s true in theory. It’s true in practice as well, but only if you have proper understanding of the financial market and prepared yourself for long term investments.
Besides gaining understanding of the financial market, you need the proper knowledge of trading instruments. These instruments are essential in maximizing your profit when trading binary options. The best way for beginners to avoid losses with their first trading attempts is to make investments on assets that are not so volatile. You can discover these by training yourself using a demo account.
However, thanks to the quick trade nature of binary options, the volatility factor can be avoided easily or at least reduced. When you trade you have a predetermined time-frame before making the trade, so it’s possible for your trade to be successful before the volatility factor kicks in. This is why binary options are so popular.
The Future of Binary Options in South Africa
At the moment there are very small hints that binary options will become a regulated industry in South Africa or maybe illegal. The second option is very unlikely. However, the positive outcome from the current situation is that South Africans are free to trade binary options without being persecuted. The negative outcome is that there are brokers that operate without a license.
If the government decides to regulate binary options trading, the governing body will be the Financial Services Board (FSB). The Board will be responsible for overseeing operations, regulate the industry and issue licenses as well as checking whether the brokers comply with the laws. Therefore, many positive aspects will arise from the regulation of binary options trading.
However, with the regulation there may be some negative consequences as in the case of the United States. Their laws forbid US citizens to trade at foreign brokers even though those brokers are compliant with the US standards for binary options trading. If such case happens in South Africa, traders will be forced to trade binary options only with South African operators.