Deposit and Withdrawal Methods in Binary Options in South Africa

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Binary options trading in South Africa

We cannot deny the fact that some traders – especially those, who are not so familiar with all the specifications as to this financial field – believe that South Africa is yet quite undeveloped and backward, so binary option South Africa market is not a thing to discuss at all. Indeed, when someone hears anything of Africa in general, the first thought and impression is the low level of advancing and experience. However, the binary option South Africa area does not refer to this conclusion at all. On the contrary, there is a quite huge chance for you to discover fantastic brokers for trading with binaries and located in South Africa. They do worth it and it could be a shame for you not to know the main features of this significant part of the overall global financial trading space.

Is There Any Regulation Program To Rely on, When It Comes To Binary Option South Africa Trading?

Only few years are there was no official authority or independent agency that covered the binary option South Africa field. This made many traders to claim and believe that financial services providers in this region are not trustworthy at all. Moreover – a big part from the binary trading community has the opinion that binary option South Africa brokers were illegal. At some point, they were right, because several years ago there was no regulation body in the country at all. However, lots of the local brokers were completely legal – with an official license and with the right to operate on the market. As to the regulation lack, traders preferred to use those binary option South Africa brokers that are offshore, which means they are either owned by companies from other countries, or they simply are foreign trading platforms, which, though, accepted South Africa-based traders. However, things have changed quite fast for binary option South Africa platforms. And currently, they are well regulated and very similar to the rest of the global top rated binary brokers like Binary Robot 365 for example.

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What Are The Regulation Bodies for Binary Option South Africa Websites?

Today, we can point several controlling and observing agencies that cover both – the financial services providers in the country, as well the binary option South Africa brokers specifically. Check out them and learn the basic information about their job and tasks to perform.

Financial Services Board

The FSB – the Financial Services Board is a typical government agency for official and proper regulator of the entire financial services industry in South Africa and of the binary option brokers. Be aware that this agency does not have any independent functions or priorities the way most of the world`s popular financial regulation bodies have. Moreover – the Financial Services Board is oriented to all kinds of procedures, financial structures and binary option participants (including the South African Brokers) in South Africa with one single exception – the banking organizations and services. The Financial Services Board regulates the binary option market entirely in public interest by keeping an eye on the regulation of the largest stock exchange market in Africa, too.
This market is known as Johannesburg Stock Exchange and many binary traders adjust their strategies due to the processes that happen in its sphere. Financial Services Board have lots of responsibilities and duties and the main ones among them are security of capital markets, Financial Services Provide controlling, insurance, collecting investment schemes and etc. However, the main work, which involves the South African Brokers,that the Financial Services Board does is to secure and arrange the work of one of its agencies. This agency is entirely oriented to control the binary option trading in South Africa.

Financial Advisory and Intermediary Services

The Financial Advisory and Intermediary Services Agency – known with the abbreviation of FAIS Division – has the task to secure the Financial Service Provides as part of the main FSB regulation body. To keep safe its faultless and smooth work, FAIS has acquired several basic departments with particular fields to operate in – Registration (of the South African binary option brokers), Supervision of the entire field for trading with binaries, Compliances by binary option traders, as well as helping the binary option South Africa websites to operate on the market as competent brokers of the global market.
When you look for a decent and cool binary option South Africa broker, it is essential for you to pay attention at the regulation, but never forget to see if the main pros and benefits of a standard platform – regardless its origin – must have. Such features are good customer support services, interesting bonus systems, great choice for account type to open and etc!

Deposits & Withdrawals

At FXTM, making deposits and withdrawals is simple and straight forward and hardly takes up any of your time. We are constantly striving to offer you even more deposit and withdrawal options and to make the process even easier. If you have any queries just contact our Client Support Team.

Broker Early Expire Average Return Min Deposit Min Trade Rating More
90% $ 10 $ 1 ★★★★★
95% $ 10 $ 1 ★★★★★
× 95% $ 250 $ 1 ★★★★★
× 85% $ 10 $ 1 ★★★
Local Deposit Method Currency Fees / Commission Processing Time Deposit Funds
FasaPay USD , IDR No Commission Instant Fund
Syrian Local Agent (KD) SYP 24 hours Fund
South East Asia Online Banking MYR, THB, IDR, VND No Commission Instant Fund
Ghanan Local Transfers GHS 24 hours Fund
Turkish Local Transfers TRY 24 hours Fund
South Arabian Peninsula Local Transfer YER, SAR, SDG 24 hours Fund
Dusupay GHS, RWF, TZS, XAF, KES, UGX, ZAR No Commission Instant Fund
African Local Solutions (D) NGN, GHS, RWF, TZS, XAF, KES, UGX, ZAR, BIF, ZMK No Commission Instant Fund
Latin American solutions MXN, BRL No Commission 1-2 business days Fund
TC Payment 1 hour Fund
Sub-Saharan Africa and Dubai Local Transfer XOF, SOS, NGN, AED 24 Hours Fund
Latin American solutions via Skrill USD No Commission 1-2 Business Days Fund
Malaysian Local Transfers MYR 24 hours Fund
Nigeria Local Bank Wire Transfer NGN No Commission 1 Business day Fund
Indonesian Local Transfer IDR 24 hours Fund
Algerian Local Transfers DZD 24 hours Fund
Kenyan Local Transfers KES 24 hours Fund
Local transfer for India and Pakistan 24 hours Fund
Online Banking Malaysia MYR No Commission Instant Fund
Online Banking Indonesia IDR No Commission Instant Fund
Local Exchange House 24 hours Fund
Afghani Local Transfers AFN 24 hours Fund
Laos Local Tranfers LAK 24 hours Fund
Nganluong (E-wallet & banking channel) VND No Commission Instant Fund
GlobePay GBP , USD , EUR No Commission Instant Fund
Egypt Local Transfer EGP 24 hours Fund
Bangladeshi Local Transfer BDT 24 hours Fund
Iraqi Local Transfers IQD 24 hours Fund
Palestinian Local Transfers ILS 24 hours Fund
Online Banking Vietnam VND No Commission Instant Fund
Online Banking Thailand THB No Commission Instant Fund
China Online Banking (P) CNY No Commission 24 hours Fund
Tanzanian Local Transfers (BRK) TZS 24 hours Fund
Credit cards Deposit Method Currency Fees / Commission Processing Time Deposit Funds
Visa EUR, USD, GBP No Commission Instant Fund
Mastercard EUR, USD, GBP No Commission Instant Fund
Maestro EUR, USD, GBP No Commission Instant Fund
E-Wallets Deposit Method Currency Fees / Commission Processing Time Deposit Funds
VIP Neteller EUR, INR, USD, GBP, PLN, NGN No Commission Instant Fund
VIP Skrill / Moneybookers EUR, USD, GBP, PLN, CZK No Commission Instant Fund
VLOAD USD , EUR No Commission Instant Fund
Crypto BTC, ETH, LTC, DASH No Commission 24 hours Fund
TC Pay Wallet USD, EUR, AED No Commission Instant Fund
Alfa-Click RUR No Commission Instant Fund
WebMoney USD , EUR , RUR No Commission Instant Fund
Dixipay USD , EUR No Commission Instant Fund
Cash U USD No Commission Instant Fund
Yandex.Money RUR No Commission Instant Fund
QIWI RUR No Commission Instant Fund
Perfectmoney USD , EUR No Commission Instant Fund
Bitcoin BTC No Commission 24 hours Fund
Konnexone USD No Commission Up to 1 business day Fund
Bankwire Deposit Method Currency Fees / Commission Processing Time Deposit Funds
Bank Wire Transfer GBP , USD , EUR No Commission 3-5 Business Days Fund
Local Withdrawal Method Currency Fees / Commission Processing Time Withdrawal Funds
FasaPay USD, IDR 0.5% 24 hours Withdrawal
Latin American solutions MXN, BRL Brazil: 3.2%
Mexico: 1%+1 EUR
3-4 business days Withdrawal
Ghanan Local Transfers GHS 24 hours Withdrawal
Sub-Saharan Africa and Dubai Local Transfer XOF, SOS, NGN, AED 24 Hours Withdrawal
Dusupay GHS, RWF, TZS, XAF, KES, UGX, ZAR 1 USD 24 hours Withdrawal
TC Payment 24 hours Withdrawal
Latin American solutions via Skrill USD No Commission 3-4 Business Days Withdrawal
Malaysian Local Transfers MYR 24 hours Withdrawal
Syrian Local Agent (KD) SYP 24 hours Withdrawal
South East Asia Online Banking MYR, THB, IDR, VND 1.4 % 24 hours Withdrawal
Turkish Local Transfers TRY 24 hours Withdrawal
South Arabian Peninsula Local Transfer YER, SAR, SDG 24 hours Withdrawal
African Local Solutions (D) NGN, GHS, RWF, TZS, XAF, KES, UGX, ZAR, BIF, ZMK 1 USD 24 hours Withdrawal
Nigeria Local Bank Wire Transfer NGN No Commission 24 hours Withdrawal
Indonesian Local Transfer IDR 24 hours Withdrawal
Algerian Local Transfers DZD 24 hours Withdrawal
Kenyan Local Transfers KES 24 hours Withdrawal
Local transfer for India and Pakistan 24 hours Withdrawal
Online Banking Malaysia MYR 2% 24 hours Withdrawal
Online Banking Indonesia IDR 2% 24 hours Withdrawal
Local Exchange House 24 hours Withdrawal
Afghani Local Transfers AFN 24 hours Withdrawal
Laos Local Tranfers LAK 24 hours Withdrawal
Nganluong (E-wallet & banking channel) VND 1.1% + 0.05 USD 24 hours Withdrawal
GlobePay GBP, USD, EUR No Commission 24 hours Withdrawal
Egypt Local Transfer EGP 24 hours Withdrawal
Bangladeshi Local Transfer BDT 24 hours Withdrawal
Iraqi Local Transfers IQD 24 hours Withdrawal
Palestinian Local Transfers ILS 24 hours Withdrawal
Online Banking Vietnam VND 2% 24 hours Withdrawal
Online Banking Thailand THB No Commission 24 hours Withdrawal
China Online Banking (P) CNY No Commission 48 hours Withdrawal
Tanzanian Local Transfers (BRK) TZS 24 hours Withdrawal
Credit cards Withdrawal Method Currency Fees / Commission Processing Time Withdrawal Funds
Visa EUR, USD, GBP 2 EUR/ 3 USD/ 2 GBP 24 hours Withdrawal
Mastercard EUR, USD, GBP 2 EUR/ 3 USD/ 2 GBP 24 hours Withdrawal
Maestro EUR, USD, GBP 2 GBP/ 3 USD/ 2 EUR 24 hours Withdrawal
China Union Pay CNY No Commission 24 hours Withdrawal

E-Wallets Withdrawal Method Currency Fees / Commission Processing Time Withdrawal Funds
VIP Neteller EUR, INR, USD, GBP, PLN, NGN 24 hours Withdrawal
VIP Skrill / Moneybookers EUR, USD, GBP, PLN, CZK No Commission 24 hours Withdrawal
Crypto BTC, ETH, LTC, DASH 1% 24 – 48 hours Withdrawal
VLOAD USD, EUR No Commission 24 hours Withdrawal
TC Pay Wallet USD, EUR, AED No Commission 24 hours Withdrawal
WebMoney USD, EUR, RUR 2% 24 hours Withdrawal
Dixipay USD, EUR 0.5%, max. 5 USD 24 Hours Withdrawal
Yandex.Money RUR 1.5% 24 hours Withdrawal
QIWI RUR 1.5% 24 hours Withdrawal
Perfectmoney USD, EUR 0.5 % 24 hours Withdrawal
Bitcoin BTC 1 % 24 – 48 hours Withdrawal
Konnexone USD 2 % Up to 1 business day Withdrawal
Bankwire Withdrawal Method Currency Fees / Commission Processing Time Withdrawal Funds
Bank Wire Transfer EUR 30 EUR 24 hours Withdrawal

When an account has been deemed inactive (no trading activity) for a period of 6 months, we will apply an inactivity fee of 5 EUR/ USD/ GBP.

In case of no trading activity, or if any form of abuse is found relating to the reimbursement policy, FXTM reserves the right to reclaim any reimbursement fees. If you request to withdraw your funds after no trading activity, FXTM reserves the right to charge you the equivalent amount of any banking fees incurred, or 3% of the total withdrawal amount.

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Deposits are processed instantly in case there is no need for additional verification. FXTM is not liable for any transfer delays you may experience due to a disruption of service in the system of the payment processor.

All Back office transfers are processed during standard business hours, i.e. 03:00-19:00 GMT +2 (GMT+3 during DST), Mon-Fri.

Please note that some issuing banks may not allow credit/debit card deposits. If impacted, please choose another option or contact your Account Service Manager for assistance.

For information about transfers between your trading accounts please visit our Internal Transfers page.

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Media Corner
Policies & Regulation
FXTM Sponsorships

FXTM brand is authorized and regulated in various jurisdictions.

ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

ForexTime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.

Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Tassou Papadopoulou 6, Flat /office 22, Ag. Dometios, 2373, Nicosia, Cyprus. Address for cardholder correspondence: [email protected]

Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FXTM brand based on the legal requirements in his/her country of residence. Please read FXTM’s full Risk Disclosure.

Regional restrictions: FXTM brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, the Occupied Area of Cyprus. Find out more in the Regulations section of our FAQs.

Available payment methods

This is a complete list of supported payment methods. We’ll show you which payment methods are available in your location on the deposit page.

Please do not share your bank account, credit card, or e-wallet with another client, as this may cause delays in your withdrawals.

Bank wire/Money transfer

USD GBP EUR AUD

Deposit: 1 working day
Withdrawal: 1 working day

Deposit: Instant
Withdrawal: Not applicable

USD GBP EUR AUD

Deposit: Instant
Withdrawal: 1 to 3 working days

Deposit: Instant
Withdrawal: Not applicable

Deposit: Instant
Withdrawal: Not applicable

Credit/Debit Card

Method Currencies Min-Max Deposit Min-Max Withdrawal Processing Time* Reference

USD GBP EUR AUD

Deposit: Instant
Withdrawal: 1 working day

USD GBP EUR AUD

Deposit: Instant
Withdrawal: 1 working day

USD GBP EUR AUD

Deposit: Instant
Withdrawal: 1 working day

Note: Mastercard and Maestro withdrawals are only available for UK Clients.

E-wallet

Method Currencies Min-Max Deposit Min-Max Withdrawal Processing Time* Reference

Deposit: Instant
Withdrawal: 1 working day

Deposit: Instant
Withdrawal: 1 working day

USD GBP EUR AUD

Deposit: Instant
Withdrawal: 1 working day

USD GBP EUR AUD

Deposit: Instant
Withdrawal: 1 working day

Deposit: Instant
Withdrawal: 1 working day

5 – 200 (USD)
5 – 150 (EUR)

5 – 180 (USD)
5 – 150 (EUR)

Deposit: Instant
Withdrawal: 1 working day

USD GBP EUR AUD

Deposit: Instant
Withdrawal: 1 working day

Deposit: Instant
Withdrawal: 1 working day

Deposit: Instant
Withdrawal: 1 working day

Deposit: Instant
Withdrawal: 1 working day

Cryptocurrencies

Method Currencies Min-Max Deposit Min-Max Withdrawal Processing Time* Reference

Deposit: 3 blockchain confirmations
Withdrawal: 1 working day

Deposit: 3 blockchain confirmations
Withdrawal: 1 working day

Deposit: 3 blockchain confirmations
Withdrawal: 1 working day

Deposit: 3 blockchain confirmations
Withdrawal: 1 working day

Note: Figures have been rounded.

  1. The minimum amount for withdrawal will vary depending on the latest exchange rates.
  2. Your withdrawal will be processed in one business day (Monday to Friday 9:00 am–5:00 pm GMT+8) unless stated otherwise.
  3. Additional processing time may be required by your bank or money transfer services for the funds to be credited to your payment account.

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In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

Outside the EU, financial products are offered by Binary (SVG) LLC, Hinds Building, Kingstown, St. Vincent and the Grenadines; Binary (V) Ltd, Govant Building, Port Vila, PO Box 1276, Vanuatu, regulated by the Vanuatu Financial Services Commission (view licence); Binary (BVI) Ltd, Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands, regulated by the British Virgin Islands Financial Services Commission (licence no. SIBA/L/18/1114); and Binary (FX) Ltd., Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Labuan, Malaysia, regulated by the Labuan Financial Services Authority to carry on a money-broking business (licence no. MB/18/0024).

This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, Japan, or to persons under age 18.

The products offered via this website include binary options, contracts for difference (“CFDs”) and other complex derivatives. Trading binary options may not be suitable for everyone. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on this website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved and learn about Responsible Trading.

In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, licensed and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

In the Isle of Man and the UK, Synthetic Indices are offered by Binary (IOM) Ltd., First Floor, Millennium House, Victoria Road, Douglas, IM2 4RW, Isle of Man, British Isles; licensed and regulated respectively by (1) the Gambling Supervision Commission in the Isle of Man (current licence issued on 31 August 2020) and by (2) the Gambling Commission in the UK (licence reference no: 39172).

In the rest of the EU, Synthetic Indices are offered by Binary (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta; licensed and regulated by (1) the Malta Gaming Authority in Malta (licence no. MGA/B2C/102/2000 issued on 01 August 2020), for UK clients by (2) the UK Gambling Commission (licence reference no: 39495), and for Irish clients by (3) the Revenue Commissioners in Ireland (Remote Bookmaker’s Licence no. 1010285 issued on 1 July 2020). View complete Regulatory Information.

Binary.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs. Trading binary options and CFDs on Synthetic Indices is classified as a gambling activity. Remember that gambling can be addictive – please play responsibly. Learn more about Responsible Trading. Some products are not available in all countries. This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, or to persons under age 18.

Trading binary options may not be suitable for everyone, so please ensure that you fully understand the risks involved. Your losses can exceed your initial deposit and you do not own or have any interest in the underlying asset.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with Binary Investments (Europe) Ltd. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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    Top Binary Options Broker 2020!
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    Big Sign-up Bonus!

  • Binomo
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Method Currencies Min Deposit Min Withdrawal Processing Time* Reference