What are Binary Traders?
A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all.
The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option.
Best Binary Traders In South Africa
PrimeXBT
Daweda Exchange Broker
IQ Option Trading Platform
FX-Advisor
24option
Binary.com
CMTrading
ETX Capital Broker
Ayrex
OX Markets Broker
Is binary trading legal in South Africa?
There is no law that forbids South Africans to open an account at online binary options brokers that operate from another country, so yes, you can.
There are many legal and legitimate brokers around the world that operate with a license issued from a specific jurisdiction and which accept South Africans.
How do people earn from binary trading?
A trader in binary options must look at the trend of an underlying asset or commodity and predict whether it will go up or down.
The trader earns a profit or loses their invested money based on how accurate their prediction was.