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HighLow has garnered attention as a regulated binary options broker based in Australia, offering a user-friendly trading platform and unique features. Overall, the feedback on HighLow is largely positive, with users appreciating its straightforward interface and the $50 cashback offer for newcomers. However, some criticisms highlight the limited range of assets and lack of advanced trading tools.
Note: It is essential to consider that HighLow operates under different regulatory frameworks depending on the region, which may affect user experience and available features.
Category | Rating (out of 10) |
---|---|
Account Conditions | 7 |
Tools and Resources | 6 |
Customer Service | 5 |
Trading Experience | 6 |
Trustworthiness | 8 |
User Experience | 7 |
Additional Features | 6 |
How We Rate Brokers: Ratings are based on comprehensive analysis from multiple sources, focusing on user experience, expert opinions, and factual data.
Founded in 2010, HighLow is operated by HighLow Markets Pty Ltd, which is licensed and regulated by the Australian Securities and Investments Commission (ASIC). The broker offers a proprietary trading platform known as Markets Pulse, which is designed for binary options trading. Traders can access a variety of assets, including currency pairs and commodities, although the selection is limited compared to other brokers. HighLow primarily accepts AUD and USD as base currencies, and it does not cater to U.S. traders.
HighLow is regulated by ASIC, which provides a level of security and trust for traders. However, it is important to note that binary options trading has been banned for retail clients in Australia as of 2021. As a result, HighLow has ceased accepting new clients in Australia, raising concerns about its future operations in the region.
HighLow supports various deposit and withdrawal methods, including credit cards, bank transfers, and e-wallets like Neteller. The minimum deposit is set at $50 for most payment methods, while bank transfers allow a lower minimum deposit of AUD 10. Withdrawals require a minimum of $50 and are generally processed within one business day, although the total time to receive funds may take up to 3 days depending on the method chosen.
HighLow offers a unique $50 cashback promotion for new traders, which can be seen as a risk-free trade incentive. Unlike traditional bonuses that often come with stringent turnover requirements, this cashback can be withdrawn immediately after trading, making it an attractive option for new users. However, this is the only promotional offer available, and traders seeking additional incentives may find the lack of variety disappointing.
HighLow provides access to a limited selection of trading instruments, including approximately 17 currency pairs and a few commodities like gold. While the broker focuses on binary options, it does not offer a wide array of assets compared to other trading platforms. This limitation may deter traders looking for a more diverse portfolio.
HighLow has a straightforward fee structure, with no commissions on trades. However, it does charge a 2% transaction fee for withdrawals made through credit cards and Neteller, and a fee of $20 for bank transfers. The spreads on binary options can vary, but traders can expect competitive payouts, with returns of up to 200% on certain trades.
HighLow does not offer leverage for binary options trading, as the nature of binary options does not allow for leveraged positions. This aspect may appeal to risk-averse traders who prefer to trade without the potential for significant losses associated with leveraged trading.
HighLow utilizes its proprietary Markets Pulse platform, which is designed for ease of use. While the platform is user-friendly, it lacks some advanced features that seasoned traders may expect, such as comprehensive charting tools and technical analysis capabilities. The broker does not support popular platforms like MetaTrader 4 or 5, which could be a drawback for some traders.
HighLow does not accept traders from the United States, which is a common restriction among many brokers. This limitation may affect potential clients looking to trade binary options in those regions.
Customer support at HighLow is available primarily in English and Japanese. While the support team can be reached via email and phone, it lacks a live chat feature, which could be a disadvantage for traders seeking immediate assistance.
Category | Rating (out of 10) |
---|---|
Account Conditions | 7 |
Tools and Resources | 6 |
Customer Service | 5 |
Trading Experience | 6 |
Trustworthiness | 8 |
User Experience | 7 |
Additional Features | 6 |
HighLow is a regulated broker that offers a straightforward trading experience with a unique cashback promotion. However, its limited asset selection and lack of advanced trading tools may not meet the needs of all traders. For those seeking a reliable binary options platform, HighLow presents a solid option, but potential clients should be aware of the regulatory changes affecting its operations in Australia.
In conclusion, HighLow is a broker worth considering, especially for those new to binary options trading. However, it is essential to weigh its pros and cons carefully, as outlined in this HighLow review.