Every broker review on our site will tackle important segments which are of essential importance and which include general information about the broker, information about the trading platform and available features, account types, customer support service and lastly, banking information. All the listed segments are key factors of interest when it comes to selecting a broker with whom traders wish to trade and, in following these simple guiding points, the trading process may only become easier and more successful. Additionally, South African traders may also minimise the chance to be taken in by a scam broker.
Account Types in Binary Options
Account types are another important segment and brokers tend to offer their registered traders several options, and those can range from just one account type all the way to seven. The reason for this is the drive to cater to different trading styles as well as various financial circumstances of prospective traders. Bearing in mind the sheer number of different traders which participate in the trading process on daily basis, offering a selection of account types is not only sensible but also points out that brokers keep in mind that each trader is different and enters this trading venture with a different set of needs.
Binary Options Demo Accounts
The majority of brokers offer their traders the opportunity to use the demo account which is a useful feature as it mimics the live account but with one major difference – funds are virtual rather than real. This means that traders get to test and inspect the trading platform in a safe environment before they venture into the real binary options trading and all that entails.
Customer Support Service
Seen as the first port of call between the traders and a broker, quality of customer support is not something to be taken lightly. It is very important for traders to know that there is a dedicated team which is always there to assist them and help them along their binary options trading journey. In most cases, binary brokers provide several means of communication which include live chat, email, web form and phone.
Available Payment Methods in South Africa
Another key segment certainly belongs to various payment methods which can be used to make deposits and withdraw funds. In the majority of cases, the deposit method selected as well as a currency is also retained for withdrawal so traders need to take time and select wisely. Traditionally, traders are offered a selection of credit/debit cards, e-wallets, as well as wire transfer and brokers which aim to provide top notch services, will make sure their platform is well-protected, usually by employing SSL encryption technology which encrypts all data being exchanged on the trading platform. Additionally, trader’s funds will be held in a segregated account with a reputable bank.
Binary Options Mobile Trading Applications
Considering the often frantic pace of modern life, binary brokers (in most cases) also offer a mobile trading app to their registered traders as this not only provides them with the means to save time and basically trade from any location. However, it also presents traders with the opportunity to always keep track of what is happening on the market and snap up potentially profitable trading opportunities and thus increase their chances of profit-making.