As a trader who has been in this industry for several years, I look for a broker that has something new to offer. To be honest, I haven’t really seen anything new in the industry over the past few months until recently I discovered HighLow, a broker that is based in Sydney, Australia. What got me really interested about this broker is that they are currently authorized and regulated by the Australian Securities and Investments Commission (ASIC). It’s a rarity in this market to find a binary options broker that is licensed by a financial regulator which is known to have high standards so this must be really good. I tried using the quick demo feature and it didn’t take long for me to open a real account since the minimum initial deposit is just AU$10 or $50. The web-based platform is a bit different from the usual ones that I have tested before but personally, it was more engaging to use. The only disadvantage that I discovered is that they don’t have a huge array of products but other than that, I can say that this is a very promising broker. You may continue reading for my complete review.
Demo Account: No registration required
This brokerage firm won’t require you to register for an account in order to use their quick demo feature. You can immediately enter the practice mode and explore the platform at your own pace.
Bonuses: Up to $50 cashback
When you register for an account, you will be entitled for up to $50 cashback on your initial trades. The advantage here is that they don’t have any limitations if you’d like to withdraw the bonus after redeeming it.
Platform: Sleek and functional
The platform was so easy to get used to because it doesn’t have a complex design or any complicated menus. It’s very simple and it doesn’t take too long to load on the browser. It seems that they have made the right choice in using MarketsPulse which has a done a great job in developing a platform that has the right tools and functionalities.
Mobile Trading: Supports iPhone/iPad and Android devices
The mobile trading feature is also available for those who’d like to execute trades using their smartphones or tablets. The apps can be downloaded from the Google Play Store and the App Store.
Tradable Assets: More variations needed
As a trader, I want to have more available assets to choose from but with this broker I’m a bit underwhelmed by the ones that they have on their platform. The consolation though is that the assets that they offer are the most traded in the market.
Minimum Trade: The ideal trading size
For every trade, the accepted minimum investment amount is just $10 which is significantly lower than the requirements of most brokers today. This will definitely allow me to successfully manage the risks and monitor my investments.
Payout Rate: Well above the average range
What’s interesting with HighLow is that the payout rates can go for as much as 200% which is definitely well above the average range. That means you can possibly receive much bigger returns!
Their Call/Put trading instrument is known as the HighLow with expiry times ranging from 15 minutes to 1 day.
This type shows a bid/ask spread where you can double your investment.
Aside from the 60-second expiry, they also have 3-minute and 5-minute variations which are all under this instrument.
This is the option type to choose if you are expecting large market movements so you can make the most of you positions.
Deposit and Withdrawal
Minimum Deposit: A very affordable amount
The minimum initial deposit requirement to open a live Australian account is just AU$10. Other accounts (US$/€/£) on the other hand will require a minimum deposit of 50 (US$/€/£) which is still low.
This is way more affordable compared to what most binary options brokers require.
Deposit Methods: Lots of ways to transfer funds
I never had a hard time transferring funds to my HighLow account because they accept various modes of payment which includes different credit card brands, Bank Transfers and Neteller.
Withdrawal Processing Time: Fast and guaranteed
I must say that I was really impressed on how quick and easy it is to get my money back from this broker. The processing time only takes up to 3 days, a lot faster than most of the brokers out there.
Channels: Phone and email
While other traders complain that it’s hard to connect with the support department of their brokers, I on the other hand was able to reach HighLow’s support in a matter of minutes via phone and email. Live chat however is not available.
Availability: Mondays to Fridays
Support hours are Monday-Friday 8:00am to 2:00am AEDT/AEST for clients in Australia, Monday-Friday 6:00am to 12:00am SGT for clients in Singapore and Monday-Friday 11:00pm to 5:00pm BST for clients in the UK.
Supported Languages: 3 options
Currently, the languages that they support are English, Japanese and Chinese.
Average User Rating: 9.1
Platform Design: Unconventional but appealing
What I really liked about the platform design is that it was not the same old layout that you’d see anywhere else. It’s a little different but much more visually pleasing.
Support: Hands down for excellence
All that I can say about their support is bravo! They were always quick to answer and helpful which are the major factors that I am looking for in terms of customer service. And the best thing about it is that their speed and accuracy is well-practiced not only in their phone support but also in the email support as well.
Reputation: One of the few regulated brokers in Australia
This broker has a well-established name particularly in the Australian markets since they are based there. It was also good to learn that they are among the very few brokers that have a current license to operate from the Australian Securities and Investments Commission (ASIC) which is a good indication that they are reliable and trustworthy.
Editor’s Rating: 94
HighLow comes with a competitive and affordable solution for traders as they offer a low minimum deposit requirement, high payout rates and favorable conditions for trading binary options. Their credibility is undisputable since they are among the very few brokers that are able to secure a license from a trusted financial authority. In general, what they offer is certainly one of the most attractive around so make sure to take advantage of these perks.