Risk Disclosure Statement Binary Trading – Binary Trading – South Africa

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

RISK DISCLOSURE STATEMENT FAIRBINARYOPTIONS

1. Introduction

The Company is an affiliate marketing company. The Company promotes regulated binary options brokers through its website www.fairbinaryoptions.com (hereinafter the “website”).

The website FairBinaryOptions.com includes general information in regards to binary options, reviews of binary options brokers, signal providers, binary auto trading robots and trading platforms. The website includes also lists of whitelisted and blacklisted top binary options brokers which are categorised as such in accordance with certain criteria determined by the affiliate marketing company.

However, this website is independent of binary brokers featured on it. Before trading with any of the brokers, potential clients should ensure they understand the risks and verify that the broker is licensed. The website does not provide investment services or personal recommendations to clients to trade binary options.

Information on FairBinaryOptions.com should not be seen as a recommendation to trade binary options. FairBinaryOptions.com is not licensed nor authorized to provide advice on investing and related matters. Information on the website is not, nor should it be considered as investment advice.

We collect and use your personal data in accordance with our Privacy Policy and our Cookie Policy, which form part of the Terms and Conditions for the use of our services and are available on our Website. By accepting these Terms and Conditions, you are providing us with personal information. You consent to us processing all such information for the purposes of performing our obligations under Terms and Conditions of use and for the purpose of administering the relationship between you and us. You agree we may share your personal information with third parties for these purposes and we may also use the information for analysis and improving our product and services in line with our Privacy Policy and the Cookie Policy.

2. Risk Warnings

The potential client should not engage in any investment directly or indirectly in financial instruments unless (s)he knows and fully understands the risks involved for each of the financial instruments promoted in the website. Therefore, prior to applying for an account in one of the binary brokers promoted via this website, potential clients should consider carefully whether investing in a specific financial instrument is suitable for him/her in the light of his/her personal circumstances and financial resources, as they should proceed only if they are willing to assume the economic, legal and other risks involved.

In case the potential client does not understand the risks involved, he/she should seek advice or consultation from an independent advisor. If the potential client still does not understand the risks involved in trading in any financial instruments, he/she should not trade at all.

Potential clients without sufficient knowledge should seek individual advice from an authorized source. Binary options trading entails significant risks and there is a chance that potential clients lose all of their invested money.

3. General Risks and Acknowledgements

The Client acknowledges, understands, agrees and accepts the risks which arise while trading with binary options with one of the binary brokers promoted in the website including but not limited to the following:

  1. The Client acknowledges that he/she runs a great risk of incurring losses as a result of trading in financial instrument and accepts that he/she is willing to undertake this risk.
  2. Information of past performance of a financial instrument does not guarantee its current and/or future performance. The use of historical data does not constitute a binding or safe forecast as to the corresponding future performance of the financial instruments to which the said information refers.
  3. A financial instrument on foreign markets may entail risks different to the usual risks of the markets in the client’s country of residence. In some cases, these risks may be greater. The prospect of profit or loss from transactions on foreign markets is also affected by exchange rate fluctuations.
  4. The Company will not provide the potential client with Investment Advice relating to investments or possible transactions in investments or make investment recommendations of any kind.
  5. Clients, who undertake transactions on an electronic trading system with binary options brokers, will be exposed to risks associated with the system including the failure of hardware and software (Internet/Servers). The result of any system failure may be that an order is not executed according to the instructions provided for it or it is not executed at all. The Company does not accept any liability in the case of such failure.

Without limiting the foregoing, the Client further acknowledges that the Company may be remunerated by any and/or all of the regulated binary options brokers that are being promoted through the Website. The aforementioned remuneration may be subject to terms as agreed between the Company and the regulated binary options broker.

4. The Company is not an advisor or a fiduciary to the Client

Where the website provides generic market recommendations, such generic recommendations do not constitute a personal recommendation or investment advice and have not considered any of specific potential client’s personal circumstances or investment objectives nor is it an offer to trade, or the solicitation of an offer to trade in any binary brokers which promoted via the website. Each decision made by the potential client to trade in binary options with one of the binary broker promoted in the website and each decision as to whether a transaction is appropriate or proper for the potential client is an independent decision made by the potential client himself.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

The Company does not act as an advisor or serving as a fiduciary to potential client. Potential client agrees that the Company has no fiduciary duty to the potential client and no liability in connection with and is not responsible for any liabilities, claims, damages, costs and expenses, including attorneys’ fees, incurred in connection with potential client following the generic trading recommendations provided in the website or taking or not taking any action based upon any generic recommendation or information provided by the website.

5. Recommendations are not guaranteed

The generic market recommendations provided and the binary options brokers promoted by the website are based solely on our judgment and should be considered as such. Potential client acknowledges that (s)he enters into any transactions with one of the binary options brokers promoted relying on his/her own judgment. Any market recommendations provided are generic only and may or may not be consistent with the market positions.

The generic recommendations provided in the website are based upon information believed to be reliable. The website cannot and does not guarantee the accuracy or completeness thereof or represent that following such generic recommendations will eliminate or reduce the risk inherent in trading in binary options via the binary options brokers recommended in the website.

6. No guarantees of profit

There are no guarantees of profit or avoidance of losses when trading in binary options. Potential client has not and will not receive any such guarantees from the website or from any of its representatives. Potential client must become aware of the risks inherent in trading in binary options and is financially able to bear such risks and withstand any losses incurred.

Note: The English version of this statement is the governing version and shall prevail whenever there is any discrepancy between the English version and any other version.

It is legal to trade Forex in South Africa as the South African Government doesn’t have any laws governing the legality. The South African Reserve Bank control international monetary exchange overseeing outgoing cash-flow from the country (1) . Trading Forex is legal as long as you abide by financial laws that prevent money laundering (2) and you declare your income tax. While using a regulated broker is not a legal requirement, there are brokers that are regulated by our own FSCA (3) and others that are regulated by other recognized organizations around the world.

Legally Funding Forex Accounts

Funding an account is fairly straightforward in South Africa if you are using a credit card connected with a major bank. That said, South African financial regulations can sometimes get in the way when we try and fund international accounts from South African bank accounts (1) or local lesser-known credit cards. This is happening less and less, but we are still hearing that this problem persists. As of 2020, it became easier for South Africans to legally move more money to offshore bank accounts, making funding a Forex account easier. While there is still a limit on the amount each South African citizen can transfer overseas, an allowance of 10 million Rand is possible (3) .

Discretionary Foreign Currency Allowance

Another way to get funds offshore is to apply individually for a discretionary foreign currency allowance, available up to 1 Million Rand. On October 27, 2020, the annual R1 Million discretionary allowance law changed to include foreign investments. This, along with the initial R10 Million, must be cleared by the South African Revenue Service (SARS). To start this process, complete the MP 1423 form for the 1 million travel allowance.

Transferring over 10 Million ZAR per year

In order to get permission for the transfer of up to 10 Million ZAR per year, your bank will need to submit an application to the Financial Surveillance Department of the South African Reserve Bank for approval – contact them from here. A Tax Clearance Certificate is needed in order for this application to be complete.

KYC – Anti-Money-Laundering

Banks and financial institutions globally have signed up to a program called KYC. It is a law set in place to stop money laundering by anonymous actors. When you sign up for a Forex trading account, and before you will be allowed to make a deposit, you will need to complete your KYC documentation. It is very easy. It requires you to submit:

Top 10 US Binary Option Brokers

As of date, the US residents face the maximum trouble in finding a binary broker accepting the US clients.

The main reason for that is the US law that demands registration of a Forex or binary broker with the SEC (Securities and Exchange Commission) or the CFTC (Commodities Futures and Trading Commission), as deemed necessary, before accepting the US clients.

The CFTC is the federal agency that regulates the trading of commodities futures and options in the USA.

Only a handful of binary brokers has the financial capability to shell out $20 million as a deposit with the CFTC. Furthermore, a binary broker has to strictly comply with the following regulatory procedures.

List of Top 10 US Binary Option Sites for 2020

Deposit: $10
Payout %: 85%

Deposit: $250
Payout %: 90%

Broker Offer Devices Trade Now / Review
  1. The binary broker should have a physical presence in the US.
  2. The binary broker should provide a detailed risk disclosure statement to the clients
  3. A binary broker should disclose the number of active trading accounts at the end of every quarter. Furthermore, the number of profitable accounts should be revealed.
  4. A binary broker should also maintain liquid assets equal to or more than the total amount of obligation to retail customers.
  5. The binary broker should also send a detailed monthly statement to all the clients on the final trading day of every month.
  6. Without any delay, a binary broker should disclose legal issues, if any, to the CFTC.

TheStreet

Thus, considering the practical difficulty in following the rules, many binary brokers turn their back to the US clients. However, there are some legitimate binary brokers, provided in the list below, who accept traders from the US.

Those brokers who are not authorized, but are believed to be soliciting the US clients are named in the CFTC Red List. The CFTC’s official website also provides the disciplinary action, if any, taken against a binary broker. The regulation watch dog will only lend a helping hand, if a trader deals with a binary broker registered with the CFTC or SEC. A binary broker’s trading platform registered as an exchange will be listed in the SEC. On the other hand, a binary broker who is registered as a designated contract maker will be in the list of CFTC regulated brokers.

The nature of digital option contracts offered by a CFTC regulated binary broker is almost the same as the one offered by a broker operating from some other part of the globe. The only CFTC regulated exchange that offers a different kind of binary options contract is the Nadex exchange.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

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