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There are many ways to participate in and profit from global financial markets – the stock, cryptocurrencies, commodities, ETFs and indices markets. But most of them are not accessible to retail traders. Even though increasing technological breakthroughs are making it quite easy for us to participate in stock markets like that of the USA, the accessibility problem is still there. For instance, it is quite expensive, if not impossible, to purchase stocks like those of Amazon Inc, which is currently trading around $2,000 per share. Such humongous amount for just one share!
However, as technology advances, the barriers that existed in the past are being dismantled. Now, retail traders have access to almost any market whatsoever. In fact, this time around, you don’t need to own the actual financial asset. Instead, all you are interested in to bag profits is the price movements of such assets. This is done through derivatives trading. And one of such popular derivatives is binary options.
Binary options have gradually become one of the most profitable means to make money online. It involves speculating on the directional movements of prices of financial instruments such as stocks, currencies, commodities, indices and others. As such, through binary options, you can bet on the upward and downward movements of these instruments from anywhere in the world. Indeed, binary options offer ample profit-making opportunities. But you must also note that it can be very risky as you may lose all your capital, due to never-ending volatility.
If you learn the game well and apply proper risk management, you can emerge quite profitable. Just like you need a stockbroker to purchase shares, and a commodity broker to invest in oil or gold, so also do you need a binary options broker to provide you with a platform to make binary options trades. However, because in binary options, you deal with all brokers online and never get to meet physically, you have to take extra care. For one, there are many scams in the name of brokers. Furthermore, some “real” brokers provide sub-optimal services to traders who use their platforms. These and many others are reasons why you should carefully select a reliable broker. One of such brokers is OlympTrade.
OlympTrade Overview for Africans
Present in almost all countries, cutting across 4 continents, OlympTrade is an award-winning binary options broker popularly deemed as one of the best in the industry, as a result of the vast array of beneficial services that it makes available to clients who trade on its platform. With OlympTrade, you can participate in the most liquid financial markets in the world, while also standing a good chance of making good profits from these markets. You can speculate on the directions of forex, commodities, stock indices, crypto coins and exchange-traded funds (ETFs).
As earlier mentioned, OlympTrade is present in several countries of the world, except in those whose governments have placed a ban on binary options trading. Such countries include Japan, Canada, USA, Russia, Iran, Norway, New Zealand, Australia, Turkey, amongst others. However, in most countries across Africa, there are no restrictions or bans on it. As such, OlympTrade is much available for African traders. In fact, there are many traders in their thousands across many African countries, making trades on the OlympTrade platform.
OlympTrade Africa Regulation
One critical feature of a good binary options broker is that it must be regulated by relevant government-backed financial services regulatory authorities. OlympTrade is not lacking in this aspect. The broker is registered with the International Financial Commission (popularly referred to as FinaCom), which makes it a part of other reputable financial services brokers across the globe. For being a member, it has to adhere to FinaCom rules, which border around providing the best services to clients, with utmost integrity.
However when it comes to being regulated by specific financial regulatory authorities on the continent, we must first note that Africa is a vast, consisting of many different countries, with slightly different regulatory styles. Even at that, checks conducted across board shows that OlympTrade is not particularly regulated by any financial regulator on the African continent, like the South African Financial Services Board (FSB) or the Nigerian Securities and Exchange Commission (SEC). Nevertheless, this is not something to fret about as OlympTrade’s credibility is quite undisputable.
Services Available on OlympTrade Africa
Apart from being a bespoke broker allowing you seamless access to the financial markets, OlympTrade Africa also provides some other services to make your trading life easier and more comfortable. They include:
- Daily & Weekly Review: Being experts in financial markets themselves, analysts at OlympTrade provide daily and weekly analysis of events and happenings in markets across the globe, helping you make sense of trends and charts and how they affect your trading, thus assisting you to achieve more profitability.
- Trader Education: There is a comprehensive course for traders to learn important topics on the markets, including fundamental analysis, technical analysis, trading psychology and risk management. There is also a weekly blog that shares tips on market and lifestyle topics, geared toward making you a better trader.
- Customer Care: OlympTrade Africa gives you access to 24/7 customer care that you can access via phone, email, or live chat on their website. There is, in fact, a dedicated customer service line for traders in South Africa (+27 (21) 1003880), with plans to provide the same for other African countries.
- Bonus: One really unique service that OlympTrade Africa provides its traders is trading bonus. OlympTrade Africa provides you several bonus types.These include a Welcome Bonus. Welcome bonus is given just for registering and depositing capital into your account; you are given up to 100% for just signing up. However, it is important you use this bonus in just 1 hour, or you lose it. Then there is a Deposit Bonus. Anytime you deposit new capital into your trading account, you are given a percentage as bonus. The bonus percentage ranges between 20% to 50% of the amount you deposit, depending on the amount deposited.
Account Levels on OlympTrade Africa
For the live or real account, there are 3 account levels or ‘Status’ that a trader can have access to; they are Starter Status, Advanced Status and Expert Status. The Starter Status account becomes available if you deposit the least deposit of $10, and comes with 82% maximum winning percentage. The Advanced Status account is given to those who deposit between $500 and $1,999, and comes with an 84% winning percentage. Finally, the Expert Status account becomes available when you deposit $2,000 and above. Apart from a winning percentage return as high as 92%, you are also given the ability to make risk-free trades.
How to Make Deposit and Withdrawal with OlympTrade Africa
The minimum deposit threshold for OlympTrade Africa is $10. To deposit, you can make use of Visa or MasterCard debit or credit cards, as well as e-wallets such as Neteller, GlobePay, AstroPay, FasaPay, Skrill, WebMoney, as well as Bitcoin. To make withdrawals, you also use the same above channels.
Trading binary options is still one of the most profitable ways to make money over the internet in Africa, and a good broker makes your trading trajectory much easier. OlympTrade is one of such good brokers. So, feel free to go for it.