Over the past year traders from South Africa have seen the increasing pressure from regulatory bodies on binary options brokers. This is part of a global market change to get the scum brokers banned and make the binary options industry more transparent and safe. This is been done in order to make binary trading safer and fair for interested traders. Hence we always say use regulated brokers. For the past years South African market is open for both regulated and non regulated brokers (We don’t trust). Now South Africa has loads of Forex traders and so there is much interest in binary trading also. And that interest is just growing. We take this seriously thus we only list the most trusted regulated brokers on the website Binary Options Trading SA for traders from South Africa especially.
The Appeal In South Africa
So the South African Wealth Review 2016 shows that since 2007 the amount of individuals with high net worth has been increasing. Thus this market is definitely growing larger year by year.
The Republic of South Africa is a country in the southern part of the continent of Africa. It is the most economically developed country on the continent with strong global positions and different nationalities. It is currently the only African country that is part of the G20.
South Africa IQ Option statistics:
Popularity of the platform versions among live traders in 2016:
- Web-version (+ standalone application) – 37%
- iOS app – 15%
- Android app – 48%
Average deposits per South African trader in 2016:
- South Africa in general – $220
- Web-platform version 4.0 – $283
- iOS app – $2411
- Android application – $175
Now since the very introduction of binary options trading it has always peaked South Africans interest as a new online trading platform as compared to Forex and a way to make money online. Since the demand increased also did the supply of platforms and brokers to the market some reliable and sadly some not.
Why South Africa has such an Interest ?
So High returns, usability and accessibility has granted binary options a place in the financial trading market in South Africa. Good brokers like Anyoption, Banc de binary, IQ option and 24Option operate within South Africa . Anyoption is regulated by Southern Africa’s own FSB (financial services board).
With so many features and demo accounts. Novice and pro traders alike can practice and strengthen their trading knowledge before ever investing their own money. Also beginner South African traders can peruse this website to learn more and go through the broker reviews to find a suitable broker for you. All the brokers on the website offer education centers which are also very helpful for newbies.
So to conclude. Yes South Africa is a promised land for binary options. Both for the brokers and traders alike. Furthermore brokers see how traders in South Africa are very interested on trading the financial markets in a simple and effective way. Thus the good brokers offers exactly that.
Also always remember scams (brokers, account managers and such) are also growing with the popularity. So read through our Binary options Scams post. Follow some general rules and always choose regulated brokers.