Binary trading platforms are online platforms that facilitate trading in binary options. Binary trading, also known as binary options trading, is a financial trading method that involves predicting whether the price of an underlying asset will go up or down within a specified time frame. It is called “binary” because there are only two possible outcomes: either the trade is successful and the trader earns a fixed payout, or the trade is unsuccessful and the trader loses the invested amount.
The trader’s goal is to predict whether the price of the asset will rise or fall within the specified time. On their website TU experts told about 6 best Binary Trading Platforms in South Africa.
Prime 6 binary buying and selling apps in South Africa
1.QUOTEX
Quotex is a web-based buying and selling platform that was established in 2019 and presents a variety of buying and selling choices, together with Foreign exchange, cryptocurrencies, commodities, indices, and extra. It offers a user-friendly interface and a wide range of buying and selling instruments and options to assist merchants of their buying and selling actions.
Execs:
- Minimal deposit $10
- No buying and selling, deposit or withdrawal charges
- Easy and user-friendly buying and selling platform
Cons:
- No leverage
- No academic sources and analytical devices
2.Pocket Possibility
Pocket Possibility is a web-based buying and selling platform that provides varied buying and selling devices, together with binary choices and digital choices. It offers merchants with a user-friendly interface and a variety of options to facilitate buying and selling actions.
Execs:
- Funds safety coverage
- Most fee quantity of 92%
- Coated losses in case of chapter
Cons:
- No damaging steadiness safety
- Verification required for deposit and withdrawal
3. IQcent
IQcent is a web-based buying and selling platform based in 2017. It goals to offer a user-friendly buying and selling expertise and presents a variety of options and instruments to assist merchants of their buying and selling actions. The platform goals to offer a user-friendly buying and selling expertise and presents a number of options and instruments to assist merchants of their buying and selling actions.
Execs:
- Minimal deposit $10
- No buying and selling commissions
- Wide selection of property
- A number of account varieties
- Consumer-friendly buying and selling platform
- 24/7 buyer assist
Cons:
- Restricted regulation and oversight
- Restricted academic sources
- Withdrawal charges for some fee strategies
4. Videforex
Videforex is a web-based buying and selling platform established in 2016 that provides varied buying and selling devices, together with Foreign exchange, cryptocurrencies, commodities, and indices. It goals to offer merchants with a user-friendly buying and selling expertise and presents a variety of options and instruments to assist their buying and selling actions.
Execs:
- Wide selection of property
- Minimal commerce measurement $1
- Copy buying and selling
- Consumer-friendly buying and selling platform
- Fee-free buying and selling
- A number of account varieties, together with a demo account
- 24/7 buyer assist
- Social buying and selling options
Cons:
- Minimal deposit $250
- Restricted regulation and oversight
- Restricted academic sources
- $10 Inactivity price
5. Binary.com (Deriv)
Binary.com, now generally known as Deriv.com, is a web-based buying and selling platform that provides a wide range of buying and selling devices, together with binary choices, Foreign exchange, cryptocurrencies, commodities, and indices. It goals to offer a complete buying and selling expertise and presents a variety of options and instruments for merchants.
Execs:
- In operation for over 20 years
- Low minimal quantities for replenishing opening bids – $5 and $1
Cons:
- No cent accounts
- No on-line chat assist
- Sudden failures on sure platforms
- No belief administration accounts
- Occasional delays within the withdrawal of funds
- Some customers have issues with the registration course of
6. Intrade Bar
Intrade Bar started its operations in 2016. The platform presents a wide range of buying and selling devices, together with binary choices, Foreign exchange, cryptocurrencies, commodities, and indices. It goals to offer a complete buying and selling expertise and presents a variety of options and instruments for merchants.
Execs:
- A danger administration perform
- Low minimal deposit
- Two sorts of methods
Cons:
- No copy buying and selling providers
- No passive revenue choices
- Solely foreign money pairs
- No schooling instruments or analytics
- No 24/7 buyer assist
Traders Union specialists assume that binary buying and selling could be very worthwhile. Nevertheless, merchants ought to pay attention to danger and use danger administration methods. Consultants additionally extremely advocate to commerce solely on dependable and reliable platforms. On The TU web site you may also learn actual critiques about brokers and buying and selling platforms. No pretend critiques are posted there.