HighLow Review 2022
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In an industry which has been receiving a lot of bad press recently, it is refreshing to see a few companies have managed to rise above the furore in the binary options trading industry. Owned and managed by an Australian holding company called HighLow Markets Ltd, HighLow has become one of today’s leading binary options broker.
With their corporate headquarters located in Sydney, Australia, HighLow is one of the few remaining binary options brokers that are still going strong. Since its inception in 2010, HighLow has been serving clients from all over the world. And over the years, the broker has earned a reputation of being a transparent and trustworthy broker. It is one of the handfuls of binary options brokers in the world that does not have a call centre operation. In other words, this broker does not pursue aggressive marketing tactics for its products and services.
Regulation & Reputation
As mentioned earlier, HighLow has earned a reputation among binary traders in the online trading community as being one of the few brokers that is trustworthy and transparent. While the bulk of the binary options brokers around the world have opted to shift their operations to a tax haven country in the Caribbean, HighLow has chosen to remain in Australia under the jurisdiction of the Australian Securities and Investments Commission (ASIC).
ASIC is one of the few financial regulatory bodies in the world that is highly regarded in the financial industry as being strict, as well as professional. In other words, HighLow is able to offer its clients the peace of mind that their money will be safe with the broker.
For access to the financial markets, HighLow has opted to adopt the white labeled trading platform provided by Markets Pulse. While the trading platform does not have as many features as the popular SpotOption binary trading platform, it is well designed to suit the needs of traders who are just beginning to take up online trading.
The trading platform allows its users to trade the binary options market with 5 different types of option contracts namely High/Low options, High/Low spreads, Turbo options and Turbo spreads options.
The main difference between the normal option contracts and the spreads options contracts is the fact that the expiry for the latter is extended to cover a range of prices rather than a single price level. As for turbo options and the High/Low options, the expiry time for the former are from 30 seconds to 5 minutes while the expiry time for the latter is on an intraday basis.
Apart from the web-based platform which is accessible through any web browser, High/Low has also ensured that traders who are unable to trade from their desktop trading terminal can also trade from their smartphones and mobile devices, by downloading a mobile trading app. Traders can also check out their account status and keep themselves updated with a live news feed that is streamed through the mobile trading platform. The mobile app is free can be downloaded from Google Playstore or Apple App Store.
Trading Accounts Offered
In terms of trading accounts, HighLow has opted to depart from the binary options industry’s traditions of providing traders with a choice of several different types of trading accounts.
With HighLow, there is only one standard type of trading account which anyone can open by completing the registration form and making a minimum deposit of $/£/€50. For traders in Australia, a token sum of AUD$10 is required.
As for traders who are unsure of whether to commit to a signing up with HighLow, they can actually opt for the demo account first. The demo account is provided free of charge by HighLow and does not even require you to register.
Bonuses & Promos
As for bonuses, HighLow offers a free cash back offer of $50 for all trading accounts which have been approved.
While the services at HighLow are exceptional, we noticed that they are a little lacking with regards to the list of available underlying assets. Their asset list is not as extensive as what most binary brokers are offering in the industry. Currently, HighLow has only 43 different types of assets. Nevertheless, the available assets are able to cover different asset classes such as currencies, commodities, and market indices.
In late 2018, Highlow did begin to address some of these issues, adding a range of new assets, including UK and US Oil prices, and indices such as the CHN50, Nasdaq and S&P.
Customer support is another area which HighLow is sorely lacking. At present, you can only contact their support team through email and the telephone. As for telephone support, the service is only available on weekdays from 09:00 to 04:00 (AEDT/AEST time).
Deposit & Withdrawal
For the convenience of their traders, HighLow has provided support for a wide array of payment methods. Fund transfers can be made through bank wire transfer, credit cards or ewallets. All major credit cards such as VISA and Mastercard are supported. For eWallets, HighLow accepts transfers through Neteller, Poli, Sofort, PaysafeCard, GiroPay and soporpay. Withdrawals can be done through the above mentioned methods as well. But it should be noted that there is a minimum withdrawal amount of $50. The typical withdrawal processing time takes one day, if the request is made before the 2pm cutoff time.
Are HighLow Best For Day Trading?
As a day trader, you are looking for a broker that can provide you with the ability to open and close trades within a short span of time. This is possible with binary options as the expiry time can be as short as 30 seconds. In other words, HighLow is a suitable broker for a day trader.
HighLow only accepts traders from Australia, Japan, China.
Compare with similar brokers that accept traders from your location. Among available brokers these are the most similar to HighLow:
- Nadex – The leading US trading Exchange. Nadex offer genuine exchange trading to US clients on Binary Options. Fully regulated by the CFTC.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
- Quotex – Quotex offers a proprietary web platform that has digital options and trading signals.
- IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
|Markets||–||Forex||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto|
|Minimum Trade||–||$1||$1||$1||0.1 lots|
|Regulators||–||CFTC||CySEC, IIROC, NFA, CFTC, FCA, CIMA||–||FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin|
|Bonus||–||–||No||30% Deposit Bonus||–|
|Detailed Comparison||–||vs Nadex||vs Forex.com||vs Quotex||vs IG Group|
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What is the minimum deposit requirement to open a trading account?
For Australian based traders, the minimum deposit requirement is merely AUD$10. As for international traders, the minimum deposit requirement is $/£/€50.
How fast can my withdrawal request be processed?
Withdrawal requests at HighLow are processed on an intraday basis if the request is submitted before the 2 pm cutoff time.
Is HighLow a reliable broker?
Yes. HighLow is a reliable broker as they have been operational for a few years. In addition, the broker is regulated by the Australian Securities & Investments Commission.
What kind of trading platform does HighLow have?
HighLow uses the white labeled trading platform supplied by Markets Pulse.
What is the maximum leverage available at HighLow?
With binary options trading, there is no leveraging of trades. As such, HighLow does not offer their traders any form of trade leveraging.
|Based in Australia, HighLow offer a superior binary options experience. Regulated by ASIC, the firm run an honest and transparent service with a great platform.|