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HighLow Official Scam Investigation
This prompted me to go over the site and understand various legal and operational aspects of the “HighLow”. I opened a demo account which to my surprise was very simple than any other site I had visited, as it did not require any signup or information, and you can log in as a guest to trade with handsome $10,000 of virtual currency. I took about 2 days to research and understand the legal and operational aspects of the site and its other functionalities. Finally, I am presenting my opinion of the site for your consumption in order to help you take an informed decision.
HighLow Broker Review
The binary options trading site HighLow is operated by an Australian company named “HighLow Markets Pty Ltd” and is owned by an Australian firm called “Realtime Capital Markets”. The company is registered with the Australian authorities and hold the Australian Company Number ACN-143-553-628 and the Australian Business Number ABN-85143553628 as a license. The company has also got a license (Australian Financial Services License No: 364264) to operate financial services business from the Australian Securities and Investment Commission. The financial services license provides the company to perform financial services business in Australia.The Australian Securities and Investment Commission outlines the laws and regulations for financial services with respect to processes the company needs to follow, staff’s educational requirements, the amount of risk a company can take and the processes related to management of risk, accounting standards a financial company should follow and various audit requirements, these all requirements need to be followed by a registered organization (HighLow) to continue business on the Australian territory.
Besides providing binary options trading services to Australian traders, the company also allows binary options traders from Africa, Europe, and the Middle East. Unluckily, the binary options traders from the United States of America cannot trade into it.
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TABLE OF CONTENT
The Website and the Platform
When you open the site, the combination of black background and orange shades catches your eyes giving you a feel of the corporate look. The homepage of the website prominently features the carousel incorporating various asset options, durations, and a transient screen. The transient screen provides information about various distinct features of the site. The assets are represented with the charts and payout options for a particular asset type along with the trading time period. Even though the website offers an ease of navigation and corporate look, the site compared to its competitors gives a feeling that it lacks some of the eye-candy features like deposit options, platform information, withdrawal options, accreditations received, and customer review.
The navigation in the site from one screen to another is very easy and can be comprehended with a little or no practice.The website seems to be designed with “Keep it Simple, Stupid!” (KISS) concept to provide ease of access and relevant information like frequently asked questions, operational information on how to trade, opening an account, opening a demo account and choice of language.The website has two language preferences including Japanese beside English. The website is well laid and developed to give a sense of easiness and simplicity. The site offers various binary options through the carousel, which makes the selection of options very easy.
High Low Education and Guidance
The trading tabs provides clear understanding and information regarding choosing an asset which includes 17 currency pairs (AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, CHF/JPY, EUR/AUD, EUR/AUD, EUR/JPY, EUR/GBP, GBP/AUD, GBP/JPY, GBP/USD, NZD/JPY, NZD/US, USD/CAD, USD/JPY and USD/CHF), 1 precious metal (Gold), and 5 stock indices (AUS200, HKG33, JPN225, UK100 and US30). Although, the site provides very easy navigation, the lack of educational material and resources will restrain the newbies of the binary options to be attracted to the site. The HighLow site has compensated the lack of educational resources with very easy demo option, which provides one-click direct demo access to anyone willing to explore the binary options trading without any prerequisite such as registration. It is my regular practice to suggest to use demo account or free account trading for some time before jumping on to real money account to a newbie of the binary options trader.
The site offers basically two trading options; High/Low (digital) and Turbo (on demand), both the options are available with spreads and various payout scenarios ranging from 80 percent to 200 percent of invested amount. The High/Low options can be traded with visible expiry time for a frequency of 60 seconds to 1-day. The lower end of expiration time available on the HighLow is very suitable for intraday or day traders and provides an opportunity to trade for 5 minutes or even less. This means the site targets a specific group of traders and the platform may not be suitable for long-term traders.
The platform offers variable spread which moves closer near the expiry of the trade, which gives a little tighter control over the result. It provides a high-risk high-return environment for traders as it offers a payout of 100 percent or higher. The spread options can make any trader’s adrenaline rush to hit the roof.
High Low Guidance to Traiding
The website uses one of the prominent binary options trading platform Market Pulse to provide smooth user experience, whereas the company has entered into an agreement for the data stream with a company called Leverate. Leverate is a well-known name in the data streaming services and it is known for providing safe and secure data to their clients. The platform provides the overall sentiment of the market through traders’ choice option which gets enabled after four trades and delivers running sentiments of the online traders. Normally, I recommend my readers not to use the advice of the broker to trade; in the case of HighLow, it will not be an issue as it is being regulated by Australian authorities which do not authorize HighLow to provide advisory services to its client. Also, the website doesn’t have any auto trading facility, so if you are a non-professional trader then I would recommend you to use option signals services from the professional signal service provider, or comprehend the strategies better before commencing the binary options trading.
To trade on the HighLow website, you also need to understand various exposure limitations and the amount of max position in a single option is allowed. Unlike, other platforms which have low restrictions, The HighLow platform has some trading restriction on maximum amount which can be traded and the maximum amount of exposure one can take (please see the table below).
The company also offers mobile applications for both android enabled smartphones/tablets and IOS enabled smartphones/tablets for ease of trading.This provides a complete mobility to the people who are always on the move and prefers mobility and trading on the go.
highlow main page
Deposits and Withdrawals
The company offers various deposit methods including credit card, Neteller and direct wire transfers from the bank. Unfortunately, as of now, it does not support the PayPal services for credits or deposits. One of the most admiring features for deposits is that it allows you to deposit as low as $10 to start the real money trading, such feature is offered by very few binary options brokerage house like IQOptions.The site only offers the deposition in the Australian Dollar (AU$), the US Dollar (US$), the Euro (€) and the Sterling Pound (£) dependent on client’s currency selection at the time of the registration.
Currently, the company offers deposition through Credit Cards/Neteller wherein minimum deposit amount is $50, and Bank Transfer wherein the minimum deposit amount is $10 for AU accounts and $50 for rest of the currency preferences. In the same way, withdrawals are possible for as low as $10 via Bank Transfer and $50 for Credit Card/Neteller. Though it does not impose a cap on withdrawal via bank transfer, the website has certain limitations for extraction through Neteller or Credit Card. Following table provides details regarding the amount and shows the nitty gritty of the payments and the withdrawals for HighLow.
HighLow Deposits and Withdrawal
The transfers in case of Credit Card/Neteller happens in real time, while for Bank Transfer it requires 4 hours to 72 hours depending on your bank location.
Though the company does not impose any charges on deposits, the company deduct 1.5 percent on withdrawal amount. The fees on withdrawal seem reasonable as it is lower than the median withdrawal fees charged by the binary options brokerage firms of the industry. The company also charges $20 irrespective of the amount of withdrawal for wire transfers to an overseas or an international bank.
The website also follows specific rules to safeguard the user data, one such example is that it does not save credit card or other financial information to safeguard the client’s details from unwanted online threats. The firmas well follow the rules and regulations set by the Australian Authorities and hence uses a trust account of National Bank of Australia to keep the moneys of their clients. This way it limits the misuse of your funds to hedge the positions. The broker uses its own funds to hedge the open positions instead of utilizing your funds to do so.
Signup and Bonuses
The website offers easy and convenient signup with generic fields for the new customers. The company requires you to put your name, email, country of resident, currency choice, date of birth, full address and asks you for your driving license or Medicare for an Australian resident to register on the website.
Currently, the website offers cashback of $50 on the initial $50 worth of trading, and the most exciting part is that there are no caps of transaction volume to redeem the bonus amount, you can immediately redeem the funds to your trading account for the trading worth of $50.
Payouts & trading
The first tab on the carousel of the site allows to you choose the regular High/Low option of binary options. These options have payouts up to 90 percent of the invested amount, this is quite competitive and is in the upper strata of industry standards, with the lowest possible investment amount of $10.
If you are a swift trader and prefer a fast paced trading options than you will not be disappointed with HighLow as it provides various faster expiry options such as 60 seconds, 90 seconds or 300 seconds. It is also suitable for professional traders as it provides a trading in spreads for various assets. This on-demand trading provides payouts up to 100 percent of invested amount. The combination of spread binary options and fast paced transaction can provide you paced adrenaline rush.
Supports for customers
The benefit of a structureddealer is that there will be processes and instructions in place in the case should you require support from the HighLow team. The corporation’s location is at Level 14, Macquarie House, 167 Macquarie Street, Sydney, NSW-2000, Australia. It is also heartening to see that the business offers service support to its clients over a phone (Australia: 1300-870-442, Singapore: 800-130-1608 and the United Kingdom: 0800-048-8748).
Though the company’s website is available in English and Japanese, it supports no other language which may be a big letdown for other language speaking clients. Though the company provides detailed FAQ to resolve all your queries and support through email or phone, one of the most disheartening things is that it does not provide the web chat options. In an online scenario, web chat is one of the most convenient and faster options to resolve your queries and which is a must when real money is involved in it.
The HighLow offers clear advantages specifically to the Australians, but when it comes to other nationality It seems restrained categorically for the United States citizens. The ease of operation on the site, the competitive cost of trading, the support system of the site, the processes it follows and regulated by the Australian authorities makes it one of the most sought after brokerage but no educational material on the site, no live chat option for support, and limited assets to trade restrict its demand. Also, the focus of the company seems to be a specific group of traders which makes it a restrictive site for long term traders (dealers who take more than 24-hour positions) and newbies.
The limitations prompted me to check other top binary options broker like IQOptions and Banc de Binary, in order to provide comparative information.
The IQOptions has one of the most intuitive websites and provides learning tools for the newbies. It also has excellent payouts up to 91 percent and allows to deposit as low as $10. Also, it offers minimum investment trade of $1, which is the lowest investment amount allowed per trade by binary options broker. Though it offers a maximum investment per trade at $1000, it has lowest trading amount per option trade is as low as $1, making it the best retail binary options broker. It offers a choice of accounts like the free account, the real account and the VIP account with a plethora of services and options for the traders ranging from newbie to professional binary options trader.
The another one is Banc De Binary, which is one of the oldest binary options brokers who has been around since 2009. It is also known for its generous bonuses including up to 100 percent sign up bonus, referral bonuses, and surprise bonuses which are offered at a will by Banc De Binary. It also offers generous payouts ranging from 60 percent to 91 percent of invested amount. The minimum deposit starts from $250 whereas it allows trading as lows $1 per trade, while maximum investment amount is capped at $6000 per trade. It also offers a variety of accounts to cater to the needs of varied types of consumers; the micro silver accounts for beginners, the standard gold account for intermediate level traders, the personal management account for high-frequency professional traders and the premium account for full-time professional traders. The highlight of the Banc De Binary is that it offered a tailored account for Muslim traders termed as the Islamic trading account which is formed on the principles of Hibah. It also offers an intuitive trading platform with tools to learn the binary options trading for beginners. It offers the highest possible resources about 200 to transact including currency, commodity, precious metal, stock indexes and stocks.
Factoring in all the facets of binary options exchange, I would recommend choosing IQOptions for small dealers and Banc De Binary for the big time, professional traders. Though HighLow seems a good agent, but I would prefer IQOption and Banc De Binary because of their legality is already been tested for a longer period of time, and they have gained customer trust over a period of time. They also offer a clear advantage in terms of a number of assets they offer, learning tools, intuitive websites, trusted trading platform, the regulation they follow and the customer service.
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Broker Name: HighLow Platform: MarketPulse Founded: 2020 Bonus: VIP Welcome Return/Refund: 75-85% /0% No. Of Assets: 25 Regulated: ASIC Demo Account: Yes Minimum Deposit: 50 US Traders: Not Accepted
HighLow is a trusted broker, owned and operated by HighLow Markets PTY Ltd, a financial services firm registered and regulated in Australia by the Australian Securities and Investments Commission under Australian Financial Services Licence (AFSL) number 364264. Their Australian Company Number (ACN) is 143 553 628 and their Australian Business Number (ABN) is 85143553628. It is important to note that the registration date for the ABN and ACN is 2020 and that is a very long time in binary options.
Editor’s Note: Why HighLow Doesn’t Suck in 50 Words
This broker doesn’t suck for a couple of reasons including transparency, regulation, trading and bonus terms (cashback). There are no hidden agendas here, no shady account managers and no onerous bonus terms. Instead, you have a broker operating in line with Australian financial regulations, an easy to use and trustworthy platform and a bonus that is actually that, a bonus.
Why HighLow Might Suck
This broker might suck because you won’t find all the exotic options like range, boundary, hyper, ladder, one touch or no touch. You also won’t find long-term expiry over one day as they seem more focused on fast trading. Another downside is the very limited number of assets (only 35) and just 5 cryptocurrencies.
Is HighLow A Scam?
HighLow is Not a Scam. If it is a scam, then it is perpetrated in conspiracy with Australian regulators and I just don’t see that happening. The company shows great transparency, as seen from the section above and it’s worth noting that all information I’ve just given you is available right on their website so I didn’t have to do much detective work, like in the case of other brokers. All I did was to confirm the information on the regulator’s page – everything checks out.
At the same time, the bonus (cashback) terms don’t indicate scam to me, in fact, quite the opposite, but you have to read on to find out what I mean. Until then, it suffices to say that any complaints you may find are trivial and/or the product of negative marketing.
Should I Open An Account With HighLow?
If you are looking for a respectable broker (the owning company is registered since 2020), with easy, and I mean easy, bonus terms as well as payouts up to 200% then I would say yes, you should definitely open an account with HighLow.net. Considering that most of the times I need serious detective skills to do proper binary options broker review, writing about HighLow.net was a breeze. I didn’t have to search the darkest corners of the internet to find out the name of the company, I didn’t have to read all their Terms and Conditions document to see if they have hidden strings attached. Nope, everything is out in the open, what you see is what you get, so kudos to HighLow for that.
The broker is built on the Markets Pulse platform, a full-service white label platform that we haven’t seen too much of until now. I think that will change. They offer the good old High/Low trading, High/Low Spread, Turbo, and Turbo Spread. The high/low is standard binary options presented on an easy to use the platform. The spread high/low is the same except the asset must close above or below a spread amount, usually, only a few pips, to finish in the money and earn a payout of 200%. Normal high/low pays in the range of 85%. Expiry is mostly short term. The longest is one day, which equates to a 24-hour expiry from time of purchase. Others include 30 seconds, 1 minute, 3 minutes, 5 minutes, 15 minute and one hour.
HighLow also has one of the easiest to get Demo accounts I’ve seen. You just click a button! That’s it; you don’t have to sign up, you don’t have to deposit, you don’t even have to give them your e-mail. All you do is click on “Quick Demo” and you will get a 10,000 virtual money account to play with. I don’t know if the demo is time-limited but it doesn’t really matter because clicking again on the button shouldn’t be much trouble.
On the other hand, if you want a real account, the minimum deposit is just $50, which is among the lowest in the industry. I never understood why brokers won’t let people just deposit low amounts (like 50 bucks). Surely, if the brokerage is offering a great service, clients will then deposit more, but let us invest small at the beginning until we get to “know” each other. Overall I like HighLow because they don’t seem greedy… yeah, I think that’s the main reason. They offer a service, which I consider excellent and then let you decide if you want to continue using it; they don’t tie you with bonus turnovers, they don’t make you deposit a lot and they offer a free demo (no deposit and no registration required). And let’s not forget the very important aspect of regulation: Fully Regulated by ASIC, with your money held in a different account than the company’s money. This is how brokers should do things!
Their Australian headquarters are located at Level 14, Macquarie House, 167 Macquarie Street, Sydney, NSW 2000, Australia. It is also very important to note that these are physical addresses, not virtual offices, so traders can visit them just how they can visit a bank. Payment processing may be operated by their UK subsidiary, Highlow Markets Ltd, Level 4, 13 Regent Street, London, SW1Y 4LR, United Kingdom.
While regulated, they will accept clients from anywhere in the world (where such distribution is permitted by the laws of the country) but regulation only applies to Australian citizens.
There really aren’t a lot of complaints on this broker. That’s maybe because they do things the right way, without the use of scams or bonuses and without annoying, high-pressure tactics. This doesn’t mean this is a perfect broker, just one that isn’t rocking the boat isn’t ruffling feathers.
HighLow Regulatory Warnings And Announcements
18.11.2020: HighLow Markets PTY Ltd appeared on a list published by Japan’s Financial Services Agency (FSA) that contained names of entities that operated financial instruments businesses without proper authorization. We’ve already mentioned before that HighLow regulation only applies to the territory of Australia so this warning is not a great surprise. However, we couldn’t find HighLow Markets PTY on FSA’s updated warning list (December 2020) which means they’ve probably solved the problem. Source for original FSA warning: FSA Weekly review No. 171.
The HighLow.net bonus is one of the few in the industry I actually like. It is not a lure, a trick or a trap. It is a reward for trading, a real bonus, that you can get in two ways. First-time depositors can get $50 cashback on their first trade, after that you earn points through trading that can be redeemed for cash back once a month. The terms, enjoy the money. Once this bonus is redeemed and in your account, it is yours, without any strings attached.
Withdrawals are super easy. They are processed within one business day if you are using Neteller or Bank transfer and in real-time for Visa/Mastercard. The minimum withdrawal is $50. There is a 1.5% fee for Visa/Mastercard/Neteller withdrawals and $20 for Bank transfers.
The Free Demo is the best one I’ve seen yet. No email, no registration, no deposit, just click a button and get $10K virtual money. Great stuff!
User Friendly 17/20
This platform is super user-friendly. It is transparent, it’s regulated and it is easy to use. There are lots of educational materials as well, and a very friendly bonus policy. The minimum investment in a single trade is $10 (max $2,000), which is great for newbies because they can start small. Also, mobile apps are available for iOS and Android, so you can trade from anywhere. The website is translated into 3 languages.
Number of Assets and Expiry 16/20
Assets and expiry are both limited but not deal breakers. Their asset basket is composed of only 35 underlying, including 5 cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash). Expiries tend to the short term: 30 seconds 1, 3, 5, 15 and 60 minutes with one day as the single long-term choice.
Commissions, Support and Effective Returns 17/20
There are no commissions to open trades, just like with any broker, but you will have to pay a 1.5% withdrawal fee for credit card and Neteller withdrawals and a $20.00 fee for wire transfers. It is very important to note that withdrawals via credit card are processed in real-time and Neteller/Bank within one business day. Support is OK, they have plenty of resources, but no account “managers”. Returns are good, standard binaries return in the range of 85%, the spread options go up to 200%, which is really nice.
Deposit, Payments & Bonus 17/20
Deposits are easily made, through credit card, wire or e-wallet. Neteller is the favored e-wallet but you can choose from other 35+ methods (some may become available depending on your region), so I am sure you will find your preferred one among those. The minimum deposit is $50. Payments are processed instantly or during one business day depending on the chosen method. The bonus terms are fantastic. You don’t get the bonus upfront, tying up your deposit and profits, you get it after, as a reward for trading or in the form of cashback upon first deposit. Points you earn also include additional deposits you might make.
Website Extra’s 16/20
HighLow is a straightforward and honest broker, simply trying to deliver binary options to us traders. They are fully regulated and they offer segregated accounts, meaning that your money is held in Client Money Trust Accounts with National Australia Bank (NAB), an AA-rated top-tier bank, not in the same accounts as the company’s money. Oh, and did I mention the amazingly easy to get 10,000 USD Demo? Yup, I did but I had to do it again.Best Binary Options Brokers 2020:
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