HighLow is the natural choice for many Australian binary option traders, since it is a fully regulated provider based right here in Sydney. It is regulated by the Australian Securities and Investment Commission (ASIC) and licensed under AFSL No. 364264. The money you deposit into your account isn’t kept in a normal company account by HighLow. Instead, your money is held in a separate trust fund operated by the National Australian Bank (NAB). This provides increased safety for traders, since it makes it very easy for the authorities to separate company funds from client funds in the event of company insolvency.
Getting started with HighLow
You don’t even have to sign-up to get access to a free demo account with HighLow, so you can click yourself over to HighLow and start checking it out right away without having to part with any of your personal details or waist any time filling out forms.
A downside with HighLow is that the minimum deposit is quite big: 50 dollars. This can be a bit hefty for the novice hobby trader. On the positive side, the minimal trade is just one dollar, allowing even the modest trader to engage in some risk spreading and fairly complex trading strategies.
The trading platform
HighLow have a bespoke trading platform, but if you have traded on other mainstream binary option platforms in the past, you will quickly notice the similarities. Things might look a little different at the HighLow platform, but all the basic features are there + more.
At the top of the trading area, you will find tabs where you select the expiry time (lifespan) for the binary option. To the left is a dropdown menu for selecting underlying assets. (You can place your most traded underlyings in a favorite area to make future trades even easier.)
Once you have selected an underlying asset, the main price chart area will update automatically to reflect current market prices, payouts, lifetimes (expiry), and more.
With the trading buttons located to the right of the trading area, you can adjust factors such as direction (high or low) and trade size, and confirm your purchase of a binary option.
When a purchase has been made, the binary option becomes visible in the window showing your open positions (below the price chart area).
Trading on a mobile device
Mobile trading is available.
As the name suggests, HighLow is chiefly focused on binary options of this High/Low type, which they offer in two variants: classic High/Low and High/Low Spread.
The basics of the classic High/Low you will recognise from all other binary option platforms that you might have tried in the past. If you think the value of the underlying will be up (compared to the strike price) when the option expires, you buy a High option. If you think it will be down, you buy a Low option.
With the High/Low Spread binary options at HighLow, you need to make up the spread. Example: The current market price on the UK100 is 7389.2. You are presented with 7389.5 to go higher and 7388.9 to go lower. The construction makes it possible for HighLow to offer bigger payouts on High/Low Spread options that finnish in the money; some of them pay 200% of the purchase price!
Share prices, indices, commodities and currency pairs are available as underlyings for binary options at HighLow. The category with the largest selection is the one for currency pairs. Regretably, the commodity category is very small.
The expiry times for standard High/Low and High/Low Spread go from 15 minutes to End of the Day. Both are also available as Turbo versions, with expiry times of 5 minutes or less. The turbo options at HighLow that expire 30 seconds, 1 minute or 3 minutes after purchase are great for the quick trader.
Just as with the classic expiry time options, the H/L Spread Turbo tend to come with higher payouts than the H/L Turbo.
The best paying options at HighLow are certain H/L Spread ones, which pays around 200% when they finnish in the money.
Roughly 40 different banking methods are accepted by HighLow, including wire transfer, certain major credit and debit cards, and e-wallets such as Neteller. Examples of popular choices among the HighLow traders are VISA, MasterCard, GiroPay, PaySafeCard, and Neteller.
The fastest deposit option is credit card or Neteller. Wire transfers will usually credit accounts the same they if made before 12 pm (noon) that day Sidney Time. Regardless of banking method, the minimum deposit and withdrawal is 50 AUD.
Bitcoins are accepted by HighLow!
- HighLow charges no withdrawal fee.
- Minimum withdrawal is 50 AUD.
- There is no daily upper limit on withdrawals. You can withdraw the full balance from your account in one go if you want to.
- Please note that since credit card and Neteller withdrawal requests are processed immediately, they can not be cancelled.
- Wire transfers are normally processed the same they if requested before 2 pm Sidney Time.
Customer support for Australian traders
Australian phone support is available weekdays 09:00-04:00 AEDT/AEST time. The phone number is 1300-870-442.
You reach the email support by using the form at the HighLow site.