Binary Score Blog
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Non Indonesian traders CLICK HERE to read our general HighLow Review.
HighLow Indonesia is a NEW trading platform from Sydney, Australia based and ASIC regulated (AFSL: 364264) binary options broker HighLow Markets. The new platform and IDR payment options are a major positive for Indonesian investors and traders who are looking for a simple and exciting way to trade financial markets. HighLow Indonesia offers free trading accounts, with a Rp.250,000 cash-back bonus when traders sign up and deposit. The new platform is available on both web and mobile (iPhone, Android).
HighLow Indonesia is most suitable for:
Deposit and Withdrawal Methods: Deposit instantly in Rupiah (IDR) from most Indonesian banks and ATMs. Withdrawals are paid into your account same day (within 12 hours). HighLow Indonesia’s commitment to offer a great localised product is admirable, and the convenience for Indonesian investors is significant. No longer is there expensive bank fees to deposit and withdraw like with many other brokers, or unknown USD/IDR exchange rates to factor into your investment plan.
Account Minimum: HighLow Indonesia has an account minimum of Rp.250,000. Investors can get started trading straight away with capital of Rp.500,000 after the generous cash-back bonus applied to all new accounts. However, most traders and investors deposit around Rp.10,000,000 or more to ensure they have sufficient capital to implement their trading strategy with. HighLow’s minimum deposit is low compared with other brokers that often require much higher starting deposits.
HighLow uses IDR bank transfer (Virtual Account) through many of the major Indonesian banks and ATM network, including BCA, Mandiri, Maybank and CIMB Bank. Deposits are credited to your HighLow account instantly once received (usually within 60 seconds). Credit and Debit Card deposits (Visa and Mastercard) are also available and a popular choice amongst many local traders.
Ease of Use: If you are accustomed to using your mobile phone, you will find the signup and deposit process very straightforward. The account registration process takes around 5 minutes, with just a few quick questions to gather your personal information, identification and means to fund your account. HighLow Indonesia aims to approve new account applications within 1 hour.
Note: as a regulated Australian broker, you will need to submit 2 x ID documents before your account can be approved. HighLow is very strict compared to other brokers, so we suggest reading the requirements very carefully as many traders are finding their applications are getting rejected.
Streamlined Trading Platform: This could be seen as a slight negative for some traders. HighLow offers limited charting when compared to other brokers. But for investors who know what they want, the HighLow platform is more than enough to quickly execute trades. The desktop platform supports 1-click trading allowing for instant trade placement in fast market conditions. When more advanced charting is required, most serious traders will use another charting platform like TradingView for market analysis.
Limited range of assets: The platform is for currency (forex), commodity and stock indices investors only; you can’t trade bonds, individual stocks or crypto currencies like Bitcoin – yet! That being said, it does give investors access to more than 35 assets to trade, so it’s not as limited as other platforms in the market.
The HighLow team say they are working hard to support more asset types in the future, including Bitcoin but they want to keep offering the highest payouts for every asset they offer.
The “cash-back bonus offer” is frequently used by other brokers to trick you into signing up. Terms and conditions are hidden where you can’t find them, and many traders often realise only when they are trying to withdraw their funds.
HighLow Indonesia is refreshing because the account setup is truly free. You can trade through the app without spending anything on fees or commissions, and there are no hidden costs to be seen. The Rp.250,000 new trader bonus and ongoing HighLow loyalty points system is one of the most honest we have seen on the market.
You’ll miss a few things in exchange — charting tools, advanced order types, education, investment options beyond currencies, commodities and indices — but if simplicity, high payouts and ease of use is your No. 1 concern, HighLow Indonesia is the best choice in the market today.
Finally Indonesian traders can experience one of the best binary option and trading experiences on the market today with the latest HighLow platform. Click HERE to sign-up today and claim your Rp.250,000 bonus.
The HighLow Indonesia team is also active on Instagram and worth following: @highlowID
An investor who has US$108k locked up with an unregulated binary options broker serves as a warning to potential traders and investors about binary bonus scams. The investor who we will refer to as “Mr R” reached out to us recently.
“In order to withdraw funds from an account that has been credited with a bonus, the customer is required to execute a minimum turnover of – bonus amount plus total deposits multiply by thirty – (Bonus+Total Deposits) X 30 = Minimum turnover required. The bonus can be withdrawn only when the foregoing stipulation has been fully respected and fulfilled.”
We will refrain from naming the binary broker who is peddling this scheme as this is still ongoing. However, they present themselves as London based and have customer support phone numbers in multiple countries.
In this instance the investor Mr R was scammed by binary bonus terms & conditions where an unreasonable trading volume requirement was placed upon traders who receive the bonus. The most damning allegation is that the broker did not mention these conditions to Mr R at the time of account opening.
This is the most common way traders are scammed by binary option bonuses. From our investigations, it appears many others have been tricked by this same broker. Many have substantial amounts of money locked up.
We decided to rustle a few feathers….
The BinaryScore.com team went to investigate this broker as we could find no bonus offer or conditions listed on their website. Posing as a new client we started speaking to a representative on their live chat. They were very keen for us to sign up, until we brought up the topic of binary bonuses…
Instead of giving us a straight answer of what bonuses were offered, they started asking questions about nationality and where we are located. They refused to give any details over the chat and asked for our phone number. We sensed a degree of hostility and the broker stopped responding to the chat.
Unfortunately for Mr R, as he is dealing with an unregulated binary broker, he has little recourse with the regulators.
The HighLow trade volume requirement is only 1 times, and it’s yours. This means up to 5 free trades without risking your capital. This is the reason we continue to recommend HighLow > http://en.highlow.net
Moreover when you are dealing with an ASIC regulated broker like HighLow, they are legally required to be transparent to the customer and operate to the highest standards. We suspect they would be fined and shut down if they operated as in the example above.
Trading is challenging enough. Don’t be like Mr R and do your research!
Binary Options broker HighLow Markets has started accepting Bitcoin deposits from clients. We are frequently asked which binary options brokers accept bitcoin payments (and offer binary trading in bitcoin!) and expect this will be popular with many traders.
We had a brief look at the Bitcoin payments integration.
As with the other payment methods, the Bitcoin deposit function is nicely integrated into the platform just above the charts and trade panel. This gives you the ability to quickly fund your account as you are trading.
Bitcoin payments are also seamlessly integrated into the mobile app.
After you select your deposit amount in your base currency a BitPay window will pop up. You have the option of scanning the QR code with your respective bitcoin wallet, tapping “open in wallet” if you are on your device or entering the code manually.
You are given the conversion rate to your base currency (in this example BTC/AUD). Payment is instantaneous and you should see the funds in your account immediately.
Despite this process being fast and simple, we do note that bitcoin payments are only one way and you can only deposit into your account. Withdrawals will have to be via credit card, Neteller or bank account.
HighLow is an Australian based ASIC regulated broker with over 80,000 customers throughout the world. While not the largest, they are known for their high payouts of up-to 200% on trades and as one of the safest binary option brokers in the world.
If you are new to trading, HighLow is still offering $50 cash-back for all new traders, you can claim the bonus and try their demo for free here.
We have also written an in depth review on all aspects of the HighLow offering from trading platforms, mobile apps, customer service and banking, available here (warning LONG!)
Something a little lighter because it can’t always be all work and no play! While meant to be a joke, a couple of us having worked on trading desks around the world couldn’t help but notice some truth in these stereotypes of binary option traders around the world:
What does your trading room setup look like? Can you also relate to the above? Let us know in the comments below, we are very interested to hear from traders is other countries around the world.
If you haven’t already, view our 2017 list and reviews of top Binary Option Brokers
Some of the BinaryScore team have used TradingView for charting for years and we frequently recommend them throughout the site. TradingView has been around for a couple years and is an online cloud based charting software package. We even know a number of professional traders who have given up paying $2000-3000 per month for their Bloomberg and Thompson Reuters terminals to use TradingView.
Available in multiple languages, TradingView offers a wide selection of chart types (bar, candle, line, point & figure etc.), various asset classes including forex, stocks and futures, indicators and advanced charting tools. While there is a Pro Version, most of the charting features for forex are available when you signup for free.
TradingView has become so much more than just a charting package, it is now an active online community with over 700,000 traders posting ideas, trade setups and market analysis 24/7. With a very large number of forex and short term traders in the community, having too many trading ideas is often the problem.
TradingView: Community trade ideas 24/7
One feature we frequently use is the price alerts. You can set these up to receive an email notification whenever the price moves through a certain level or breaks through a trend line you have set.
Part time traders or those trading for a hobby will find this most useful as it allows them to do their preparation in advance and only be notified when they need to place the trade.
And with most of the binary option brokers having smartphone apps, never again will you miss a trade because you were at the gym or even out on a romantic date!
The side toolbar also features a news and data release calendar which covers the most important events (and opportunities) in markets each week.
For those who are more sophisticated or just want to experiment, there is a library of 100s of technical indicators (MACD, RSI, Moving Average, Momentum etc.) which you can add to your charts.
TradingView: Library of Technical Indicators
Although there a hundreds of indicators and studies available to help you plan your trading, we stick to the basics and trade simple short term chart patterns. To give an example, below you can see the 5 minute chart in Gold, there are three common trades we will often make in this instance:
Trading Gold short term with binary options
The PRO version of TradingView costs $19.95 a month but most of the features are available when you sign up for a free account.
Also, if you haven’t yet chosen a binary options broker, you can read detailed reviews and see our most recommended brokers here.