TOP 10 Best Binary Options Brokers in South Africa
South Africa is one of the many countries where binary options are widely available. Unfortunately, in South Africa, binary options are in no way regulated, and this causes many scammers to appear on the market. Beginner traders may not know which platform is reliable and which is not. So we have prepared a list of the best binary options brokers that accept South African clients, taking into account such factors as the quality of the platform, customer service, the amount of returns and, above all, regulation in the world.
Quick Pick:
Best for Beginners: Pocket Option & Quotex
Most Trusted: IQ Option & Expert Option
Best for Low Budget: Binarium
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The brokers included in this ranking are the most recognizable and respected platforms in the world. Regardless of which platform you choose, you will make the right choice. If you care about experience and credibility, IQ Option is the leader of this ranking because it has as many as 7 licenses all over the world and has been operating on the market since 2013. If you are looking for a broker that has every function you can imagine, choose Pocket Option – with this broker you will find the function of copying traders, trading signals, a very modern trading platform. Binomo is for people who need a fast platform recognized in the eyes of traders all over the world. Binomo has a rating of 4.5 on Trustpilot which means that the broker is loved by traders.
IQ Option
IQ Option is the most recognizable binary options broker on the market. The broker was founded in 2013 and quickly gained popularity thanks to its trading platform, which was the first to offer numerous indicators, professional analytical tools and an integrated economic calendar. Currently, over 100 million clients use the broker’s services. IQ Option is renowned for the highest returns in the industry and a high level of security. The broker is regulated by 7 entities around the world. IQ Option is not only binary options but also forex, CFDs, Crypto, ETFs and stocks. Due to legal restrictions, IQ Option cannot offer bonuses, signals or copy traders. If you are looking for a regulated binary options broker with a modern platform and the highest returns in the industry, choose IQ Option.
- Regulation: Yes, CySEC, FCA, CONSOB, REGAFI, AFM, CNB, CNMV
- Minimum Deposit: $10
- Minimum Trade: $1
- Bonus: None
- Payouts: 98% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- US / UK / EU / AU Traders: No
Expert Option
Expert Option is a modern binary options broker, which was established in 2014 and in the first years of its activity it competed intensively with IQ Option. Over the years, brokers have changed target markets and Expert Option has focused on developing its mobile app. Currently, the Expert Option app is considered the best in the industry because it is light and offers many features. The browser version is great too – you will find many indicators, analytical tools and an integrated economic calendar there. It is worth paying attention to the Social Trading function, which allows you to check how other traders on the platform trade. In the “education” tab you will find many guides and several ready-made strategies. Expert Option offers several account types depending on how much you deposit. Therefore, we suggest you pay at least $ 100 to get started. If you are looking for a modern binary options broker that offers high returns (slightly lower than IQ Option) and the best mobile app in the industry, choose Expert Option.
- Regulation: Yes, IFMRRC
- Minimum Deposit: $50
- Minimum Trade: $1
- Bonus: None
- Payouts: 90% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- US / UK / EU / AU Traders: No
Pocket Option
Pocket Option is an advanced binary options broker that was established in 2017 and quickly gained popularity thanks to its trading platform, which is the only one in the industry that offers all-in-one. On the platform you will find features such as copy traders, trading signals, bonuses, cashbacks, risk free trades, achievements and much more. The more you trade, deposit and withdraw, the more gems you earn. You can exchange gems in the “Market” tab for risk free trades, bonuses and cashbacks. Pocket Option is IFMRRC certified, which means that the deposit you paid is completely safe, and the quality of services is at the highest level. If you are looking for a professional binary options broker with a modern platform and many functions, choose Pocket Option. It is our number one broker in many countries around the world.
- Regulation: Yes, IFMRRC
- Minimum Deposit: $50
- Minimum Trade: $1
- Bonus: Up to 50%
- Payouts: 95% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- US / UK / EU / AU Traders: Accepted
If you open an account with this broker, you will receive a 50% deposit bonus!
Olymp Trade
Olymp Trade is a very popular binary options platform that was established in 2014. It is the most awarded broker on the market, and you will receive many awards for its platform and the quality of its services. Olymp Trade gives you access to an advanced trading platform with many indicators and analytical tools. In our opinion, it is the best broker for beginners because it offers a low minimum deposit from $5 and has a special educational program for beginner traders. The educational program is based on simple and progressively more difficult daily tasks. According to the data provided by Olymp Trade, 30 days is enough to gain advanced knowledge that will allow you to earn money on the market. If you are looking for a regulated binary options broker that offers a modern platform, low initial deposit and a great educational program, choose Olymp Trade.
- Regulation: Yes, FinaCom
- Minimum Deposit: $10
- Minimum Trade: $1
- Bonus: Up to 50%
- Payouts: 92% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- US / UK / EU / AU Traders: No
Binarium
Binarium is the oldest broker on our list. The broker was founded in 2012 but has never gained the popularity IQ Option, Expert Option or Pocket Option. Binarium offered average investment conditions and an outdated trading platform for a long time. Fortunately, Binarium has recently undergone a facelift and has caught up with the competition. In our opinion, it is the best broker for beginner traders because it offers a low minimum deposit from $5 and a large educational base. In the “education” tab you will find many guides and a package of 20 ready-made strategies for both beginners and advanced traders. When registering, you can choose 1 of the 15 default account currencies. If the currency of your account is the same as the currency of your bank account, you will save on currency conversion fees on transfers. If you are looking for a good binary options broker for beginners, choose Binarium.
- Regulation: No
- Minimum Deposit: $5
- Minimum Trade: $1
- Bonus: Up to 100%
- Payouts: 95% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- US / UK / EU / AU Traders: No
IQCent
IQCent is one of the most popular binary options brokers that has been providing services since 2017. At first glance, IQCent is very similar to BinaryCent and RaceOption except that the broker has a smaller minimum deposit. You can start trading with as little as $20, which means the platform is perfect for beginners. Unfortunately, IQCent does not have any regulations – this is due to the fact that the broker is based on the Marshall Islands, and this means that it does not need to have any certificate to legally operate. On the platform you will find basic tools for technical analysis, the function of copying traders and tournaments. If you are looking for a broker that offers a low initial margin, fast order execution and a transparent trading platform, choose IQCent.
- Regulation: No
- Minimum Deposit: $20
- Minimum Trade: $0.1
- Bonus: 100%
- Payouts: 85% Max
- Assets: Binary Options, Forex, CFDs
- Mobile Trading: No
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- US / UK / EU / AU Traders: Yes
Binomo
Binomo is a very popular broker in the Asian market. The broker was established in 2014 and is distinguished by a modern platform with many analytical tools and a large number of indicators. Binomo regularly organizes tournaments where you can win cash prizes. Binomo is considered to be the best broker for VIP clients because it offers the best possible conditions if you decide to deposit over $1000. You will get access to closed VIP tournaments, weekly cashbacks, increased returns and a personal account manager who will help you earn from binary options and advise you on what and how to invest. If you are looking for a professional binary options broker and plan to make a deposit over $1000, choose Binomo. You will receive the best investment conditions and care.
- Regulation: Yes, International Financial Commission
- Minimum Deposit: $10
- Minimum Trade: $1
- Bonus: Up to 75%
- Payouts: 85% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- US / UK / EU / AU Traders: No
BinaryCent
BinaryCent is a binary options broker that was established in 2017. The platform works worldwide and even accepts US customers. Due to the fact that the broker is available in hard-to-reach areas, it can offer inflated conditions. The minimum deposit with this broker is $250. In our opinion, this is a lot considering that the competition allows for a minimum deposit of just $5. As the name of the broker suggests – the broker allows you to trade from 10 cents. BinaryCent has a light and not very modern platform that will work well on inefficient devices. It is worth mentioning the instant payouts that take place within an hour. The broker has different investment conditions depending on how much deposit you make. If you decide to deposit over $1000, you will receive a 50% deposit bonus and 3 trades with no risk. If Pocket Option and Binarium are not for you, BinaryCent is the ultimate solution.
- Regulation: Yes, Vanuatu Financial Services Commission
- Minimum Deposit: $250
- Minimum Trade: $0.10
- Bonus: 20-100%
- Payouts: 80% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: No
- Withdrawal Processing: 1 Hour
- Demo Account: Yes
- US / UK / EU / AU Traders: Accepted
Quotex
Quotex is the youngest broker on our list. The broker was established in 2020 as a competitor to Pocket Option. You will find many indicators and analytical tools on the platform. The flagship function of Quotex are trading signals, which, according to the broker’s assurances, achieve efficiency up to 87%. For being active on the platform, the user is rewarded with achievements that encourage them to break their own records and gain knowledge. Unfortunately, the big disadvantage of this broker is the lack of any regulation. I contacted a representative of Quotex and got information that the broker is in the process of applying for a certificate. If you are looking for a minimalist binary options broker with effective trading signals and a great trading platform, choose Quotex.
- Regulation: No
- Minimum Deposit: $5
- Minimum Trade: $1
- Bonus: 100%
- Payouts: 90% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- US / UK / EU / AU Traders: Accepted
RaceOption
RaceOption, just like BinaryCent, offers an identical trading platform but with a different interface color. The broker does not have any regulations or certification and the minimum deposit is also $ 250. Returns on investments are slightly better than BinaryCent but much worse than Pocket Option. When it comes to functions, the broker offers exactly the same as BinaryCent. On the platform you will find the function of copying traders and the tournament in which the one with the highest turnover wins. Unfortunately, I am not able to verify whether the same person is responsible for BinaryCent and RaceOption. Each of these platforms is signed by a different company. However, as far as I know, platforms are often made of purchased templates, so it is possible that one broker is a copy of the other. This doesn’t speak well for these companies, so I’d choose Pocket Option in your position.
- Regulation: None
- Minimum Deposit: $250
- Minimum Trade: $1
- Bonus: 20-50%
- Payouts: 85% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: No
- Withdrawal Processing: 1 Hour
- Demo Account: Yes
- US / UK / EU / AU Traders: Accepted
Best Binary Options brokers in South Africa – Conclusion
As you can see in South Africa there are quite a few good binary options brokers. On the one hand, it is very good that binary options are not regulated in South Africa because there are so many brokers available, but unfortunately it comes with the fact that many platforms are a scam. All brokers on this list have been verified by our experts and we guarantee that by signing up on any of the recommended platforms you will be completely satisfied with their services.
Is binary options legal in South Africa?
South Africa Binary Options are not regulated by any organization. This means that any broker that is based in or outside South Africa can legally offer binary options to clients of that country. We suggest that you choose brokers who have licenses in other countries and a significant number of clients. Thanks to this, you can be sure that the platform is checked and you will not be scammed. Our list includes only proven brokers and by choosing one of them you can be sure that it is a trustworthy broker
Are there binary options millionaires in South Africa?
There are probably people who have earned millions on binary options, but unfortunately it is not as easy as it may seem. I mentioned earlier that the South African binary options industry is not regulated in any way and this attracts scammers and people who want to prey on the naivety of others. Promoting and creating fake binary options millionaires in South Africa is intended only for the purpose of the client opening an account from an affiliate link, and then making as much deposit as possible and losing everything by risking excessively.
We do not promote gambling, but responsible trading, and we believe that if you want to earn millions quickly, binary options are not for you. However, if you are looking for a method how to earn extra money, and over time to save a large amount of money, binary options may be a solution for you.
Are there regulated Binary Options brokers in South Africa?
Unfortunately, there is no entity regulating binary options in South Africa. This means that no broker can even obtain a license in this market. However, there are brokers who have regulations in other places in the world that prove the credibility of the platform. We’ve included the best binary options brokers that offer their services in South Africa in our ranking.