Is Trading Binary Options Legal in South Africa

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It is everyone’s desire to participate on financial market and profit from it.

With the appearance of binary options industry, now people interested in online investment have a possibility to access to financial market and achieve high payouts, without being an expert in this field.

Below, we will try to cover the most important segments from the topic is binary options trading legal in South Africa:

Binary industry is very popular worldwide, all the way from 2008. Thanks to its numerous advantages, it shouldn’t come as surprise why there is an increasing interest among people in South Africa to start their binary options trading journey.

Is binary options trading legal South Africa is on the top list of every trader’s interest. Read our article and know more about binary options trading legal issues.

Because of its simplicity and a variety of trading features and services, traders in South Africa find binary options trading as an excellent way to profit. Security is always extremely important in any online business and so it is in binary options world.

In this article we will take a closer look regarding legality and regulation of binary options in South Africa.

Our readers should know that binary options are completely legal. Currently, there is no financial body that regulates brokers in this country and develop their policies. Because of lack of regulation, there are no binary brokers who offer trading services and instruments to traders residing in South Africa.

This way, numerous brokers offer their services and traders should be careful when selecting reliable binary broker. We can not say that lack of regulation automatically means that brokers are scam. In most cases, it is mostly completely opposite and such brokers are reliable one who offer secure trading platform.

However, many brokers have access to South African market and attract people to join their trading platform and begin trading binary options. Brokers who are listed on our site are recognized as reliable brokers with years of financial experience, since they are reviewed by us and traders find their platforms to be excellent and they manage to maximize profit.

Some of them are regulated, while others aren’t and they provide quality trading services and features and important to emphasize, conduct a transparent business which is extremely important in binary options world.

Regulation in South Africa

Traders in South Africa should be familiar with FSB. It stands for Financial Services Board, that is responsible for oversight all issues related to investing and general financial questions, except banking activities.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners!
    Big Sign-Up Bonus!
    Free Trading Education!
    Free Demo Account!

  • Binomo
    Binomo

    Only For Experienced Traders!

FSB regulates Johannesburg stock exchange and it is independant.

Established in 1991, they are continuously working on expanding their services, such as lately added FAIS in 2004 (Financial Advisory and Intermediary Services) that contributes in preventing money laundering.

Their intention is to maintain a secure place for financial trading in the country. FSB supervises financial market and has a department that deals with customers complaints and protect investors rights.

Some might say that binary options trading legal South Africa is similar to gambling, however it is not true.

For success in binary options world, it takes a certain financial knowledge, patience and ability to maximize profit while using different trading instruments and strategies. Since traders binary options enables traders to achieve high payouts, this reason is alone enough for them to start this binary journey.

With time, they can improve trading skills and become more experienced. This is where selecting a trustworthy broker comes in the picture. Such a broker offers a safe platform and trading tools that are in accordance with traders’ wishes. It is most likely that in the future, regulation will be available in South Africa.

Licensed Binary Options Brokers

Although it is not possible for African brokerages to offer trading services to their traders, there are other alternatives. As mentioned above in the text, a variety of brokers have access to South African market and some of them are regulated, while other are not.

Brokers like Porter Finance, GOptions and few others, aren’t regulated, but they are reliable brokers with no complaints from traders worldwide. Other brokers are regulated, such as Banc de Binary, 24option, StockPair, IQ Option etc.

Term CySEC (Cyprus Securities and Exchange Commission) licence is used for brokerage companies who are licensed by this regulatory body which is in accordance with European laws. Such brokers have to comply with guidelines and offer South African traders a secure trading platform with transparent terms and conditions.

According to Finance Magnates, binary industry welcomed positive feedback regarding CySec more strict rules in relation with binary brokers and their way of doing business. Reliable brokers, such as Banc de Binary and IQ Option applaud changes in regulatory status that CySec implemented to increase the safety of traders’ funds.

The reason why binary options trading is so popular in South Africa is because people are aware how such type of investment enables them achieve high payouts in short span of time.

Thanks to its fixed payout and expiry times, traders can select preferred trade options that can lead to a successful binary options trading process.

For those traders who target long term investments, it takes better understanding of financial market and knowledge of trading instruments that will be used to maximize profit when trading binary options.

Since entire industry is based on accurately price movement prediction of an asset, traders who are new to binary options trading, should start investing in assets that are not so volatile to market changes. The best way to prevent money loss is to select trading platform that offers demo account.

Demo version of trading platform provides traders with more confidence since there is no risk involved and traders get chance to place trades in different assets, while using a variety of trading strategies and features.

The most important element to mention is that reliable brokers try to maintain security level on their trading platform to ensure traders in having a safe and profitable binary options experience. It is essential to continue working on protecting traders against any scam activities in binary options industry.

Binary Options Trading – South Africa

Welcome to Binary Options South Africa – portal for binary options trading and all information related to binary options industry.

Binary options trading is popular in South Africa and our priority is to provide you with the quality trading services and up to date reviews of the best binary options brokers reviewed by us in the industry.

We give our best in providing our readers the latest news on financial market, as well as popular binary strategies and list of guide articles.

New: In order to serve a wider audience, we have added a Forex and CFDs section – learn how to trade these instruments and choose the best forex broker of those we have reviewed!

If you are interested in trading underlying assets on financial market and you want to increase your chances for potential earnings, this is a website for best binary information on South African market.

Those interested in binary options trading can find on our site a variety of useful topics and list of reliable binary options brokers reviewed by us. B esides useful trading data and information, South African traders can check our Binary Robots section and know more on what is binary auto trading and how efficient can it be in the trading process.

Awarded brokers in South Africa

  • Broker
  • Min. Deposit
  • Min. Invest.
  • Regulated
  • Trade Now
  • Broker Review
  • Main focus of Binary Options South Africa is to provide our readers with the accurate and updated reviews of popular binary options brokers. We have reviewed all brokers from the very beginning to the final step; withdrawal process. Issues like customer support services, security of funds and simplicity are the most important elements in binary options process and if they are on the highest level, traders stand a chance of achieving success while trading binary options. Here on Binary Options South Africa, you can take a closer look on our Binary Guide and Binary News sections, where you can find a wide selection of articles and information that can be of great help during trading process.

    When visiting our Binary Robots section, you can know more on binary options auto trading and its importance in binary options industry. Auto trading software is considered to be a novelty in binary options trading and we believe that our South African investors will continue to be satisfied with provided information and latest updates on financial market.

    Binary Options Trading – Find the Best Binary Broker in South Africa

    Binary options are options with two possible outcomes; will the price of an underlying asset rise or will it fall. Trading binary options has fixed payout and expiry time. Back in 2008, when binary options industry appeared on financial market, it quickly gained popularity among many people worldwide, interested in this new type of online investment. Binary options trading is very attractive for people in South Africa, interested in binary options. We try to provide the best useful information that can help investors in South Africa to deposit with a particular broker and start their binary options trading journey on the best profitable way.

    Trading binary options has many advantages for South African traders. On our site, you can check the list of binary brokers and their reviews in accordance with information in them, regarding trading platfform, payment methods and available binary options features. Transparency and facility of binary options trading are among the most important elements in trading process. For this reason, it is crucial to provide you the accurate and up to date information on all things relevant to binary options industry.

    Binary options trading is completely legal and available to interested investors in South Africa. A variety of binary options brokers offer numerous trading instruments and services for investors worldwide. Information such as binary strategies and guides can be easily found on the top of our website. In our reviews on Binary Options South Africa, investors can choose an appealing trading platform and start their journey in binary options industry. With the use of multiple binary features, available on the site, we believe that our South African investors may enjoy in binary options trading experince. Check our list to see which brokers to avoid.

    *Amount to be credited to account for a successful trade.

    African Traders Guide

    Binary options trading in South Africa has become an increasingly popular market in recent years as more and more investors seek to open online trading accounts. As awareness of this particular method experiences growth, so does the number of international brokers offering their services.

    Binary trading is unregulated, and as such local South African companies are prohibited from offering their services to SA traders. However, through our extensive knowledge of the binary options industry and the rules and regulations that apply to trading we can still show you, great brokers, to trade with.

    Our team of experts have searched the internet for the best brokers, and we bring you only those with international licenses that are legally allowed to offer their services to South Africans. Our knowledge of all the legal requirements means we can ensure that your trading career is a safe and profitable one.

    In this article, you will learn:

      The brokers best suited to your needs What local payment methods are accepted Taxes and fees that apply to ZA residents

    Traders in South Africa

    Like we found in Indonesia about the law on binary options, trading in South Africa is perfectly legal. There is nothing that prohibits an individual from trading online. The industry is however unregulated which means that there is no protection offered to those who choose to trade here. It also prevents good South African companies from brokering. So how do you select a company and what should you be looking for in features?

    Licensing And Regulation

    As there are no regulated South African brokers, you are going to need to find an offshore broker. CySEC, FCA or MiFID license many European brokers. Australia also has good brokers, look for an ASIC license. There are many to choose from, and it’s just a case of picking the right one for you.

    Deals And Incentives

    If you are new to trading, then you should probably look for a broker that offers a no deposit bonus. No deposit bonuses allow you to try before you buy. You should also take advantage of matched deposit bonuses, and trading contests so look out for them.

    Mobile Trading Tools

    Most people prefer to trade on the go therefore it is important to check out what mobile offering the broker has. Do they offer a mobile app that is suitable for the device you are using and is it available for both iOS and Android? If you are keen to trade on the go then this is critical.

    Free Demo Account

    A demo account is vital for many reasons. Firstly, it allows you to get familiar with the platform that you are going to be using. In addition to this, if you are using a reloadable demo, you can use it to try new assets and trade types.

    The only way to legally invest and trade in binary options, in South Africa, is to use an off-shore broker. Finding one that has all the above benefits plus anything else that is important to you as an individual is difficult. That is where we come in. We display to you, only the best, most reputable brokers to ensure that your experience is a good one.

    Trader Broker Asset Profit

    Broker Fees And Tax

    When looking at the tax requirements surrounding binary trading, South Africa is much like any other country. If you are an individual, then you will no doubt be paying Personal Income Tax. You could be paying anything from 18% for income below R160,000 up to 40% for anything over R617,000. Local tax applies to profits made on any income, and this includes binary options trading.

    If trading is a second income, you will need to declare your income and ensure that you pay the correct tax on this amount. Remember to deduct any losses and work out your net profit so that you don’t pay too much tax.

    Now while binary options brokers aren’t responsible for informing the South Africa tax department that you have made an income from trading, they will have a record of your transactions within your account. Make sure that you have access to this information as you will need it when calculating your total profit for a certain period. We recommend keeping a monthly record of deposits and withdrawals and recording all profits and loss.

    While African taxes are the main cost that you will incur there may also be other fees to consider. These fees include:

      Currency conversion fees for converting to and from the currency you will be trading in Deposit fees usually associated with certain types of transactions. Your account provider can charge these fees Transaction fees from your credit card or e-wallet provider Withdrawal fees from the broker for making each withdrawal

    If you are making lots of deposits and withdrawals, the money will soon mount up. Consider making fewer, more substantial deposits and withdrawals to try and cut down on the number of fees charged.

    South African Licencing

    Now while there are no legal issues that restrict South African citizens from trading, there is, unfortunately, a lack of brokers local to the country. It is not a regulated industry; therefore there are no legal or licensed South African binary options brokers.

    There are however plenty of good brokers offshore that have the relevant licenses and regulations. The ones to watch out for are those that are licensed by CySEC or other European recognised licenses. Genuine brokers are more likely to be licenced in Europe, so look out for the brokers that display this licencing.

    Do not use a broker that doesn’t have a license. There is a reason that they don’t have one, they either can’t get one, or they aren’t a serious broker doing things the right way. Why would you invest money with them if they haven’t gone to the trouble of getting licensed?

    Also, make sure that any licenses are genuine. We have gone to the trouble of doing this with all of the companies that we review and recommend so you will be pleased to know that we only recommend genuine, trustworthy brokers that have a good reputation and history.

    Our knowledge of all the legal requirements means we can ensure that your trading career is safe.

    How we Recommend Brokers

    There isn’t a choice of trading with a local broker for South African traders so if you wish to trade it is going to have to be with an offshore broker. Now, this may seem daunting and perhaps a little risky, but there are genuine SA brokers that offer an excellent service with proper incentives. Our job is to make your experience a more beneficial one by reviewing and rating South African brokers across the market.

    Like all of our broker ratings and our best binary options reviews, we take into account every aspect of trading and what each broker has to offer. Firstly we look at their licensing and eligibility to trade. We only bring you brokers that have the correct licensing and operate within regulations and legislation. We want your trading experience to be profitable and without issue. We also examine the logistics of each broker.

    Some of the critical areas include how easy it is to open an account, how easy it is to navigate the trading platform and whether the mobile website and app are user-friendly. We also examine what benefits each broker has to offer. Do they provide good bonuses, a good payout and what other rewards are available? For VIP / Premium traders we look at the higher end accounts and what they have to offer and how they compare to other offerings available.

    We review brokers all over the world, and when it comes down to it, South Africa steps up pretty good. Our reviews focus on the options market are based on our extensive knowledge and experience of it. Our team of experts have many years of trading experience between them and know what matters. Our commitment is to only bring you the best South African binary options brokers on offer.

    Frequently Asked Questions

    Is binary trading in South Africa legal and safe?

    South Africa has tax laws and regulations, and it is crucial to abide by these rules and regulations to avoid hefty fines. Earnings from binary options trading need to be declared.

    Do I need to pay fees and taxes on my profits?

    South Africa has tax laws and regulations and it is important to abide by these rules and regulations to avoid large fines. Earnings from binary options trading need to be declared.

    Can I test brokers before trading with real money?

    Brokers will offer lots of incentives to stay competitive. These usually include a demo account to allow new traders to trade on the platform without depositing any of their funds.

    Is it easy to make deposits and withdrawals?

    Making deposits and withdrawals is easy. Just open an account and make your deposit. Withdrawals can take up to 3-5 days; some brokers offer a much quicker turnaround for those higher stakes traders.

    Can I trade using my mobile or tablet device?

    Yes, to stay competitive all brokers must have either a responsive, easy to use mobile version of their website or an app available for either Android and iOS.

    Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.

    Best Binary Options Brokers 2020:
    • Binarium
      Binarium

      Top Binary Options Broker 2020!
      Best Choice For Beginners!
      Big Sign-Up Bonus!
      Free Trading Education!
      Free Demo Account!

    • Binomo
      Binomo

      Only For Experienced Traders!

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