In the binary options trading industry, there are many fraudulent platforms which make big claims and don’t deliver. HighLow is a platform which has managed to rise above many competitors. Why? In this article, we answer this question.
HighLow is a licensed, trustworthy broker based in Sydney, Australia, and it’s regulated by the Australian Securities and Investment Commission (ASIC). Compared to certain European and American regulators, Australian regulation is stronger, which means HighLow meets high standards and delivers great customer care.
Let’s go into detail about everything you need to know about this broker. And we don’t shy away from discussing drawbacks in our evaluation.
HighLow is a binary options trading platform that operates with the AFSL license number 364264. Its headquarters are in Sydney, Australia, and it has another office in London, UK. The interesting thing is that its offices are actual physical locations – not just virtual ones maintained by offshore companies.
Throughout the seven years since HighLow first emerged on the market, it has been steadily growing. There haven’t been any notable cases of dishonesty, or any other serious issues. While it’s mainly focused on the Australian markets, it also offers services in several places around the world, including Europe, Africa, and the Middle East.
|Assets||Options, stocks, commodities, indices, Forex|
|Number of assets||43|
|Minimum 1st deposit||$50|
|Minimum trade amount||$10|
|Maximum trade amount||$1,000|
|Payout||Up to 200%|
|Trading currency||Australian Dollar, US Dollar|
|Account currency||Australian Dollar, US Dollar, Euro, Pound Sterling|
|Free demo account||Yes|
|Deposit and withdrawal methods||VISA, Mastercard, Neteller, PaysafeCard, Poli, Sofort|
|Support types||Email, Phone|
Assets and Markets
HighLow has a decent selection of assets, but not the most comprehensive selection. Users have access to major asset categories. Unfortunately, the variety is not the strongest point of this service. This could be seen as an advantage or a disadvantage.
On the one hand, you are slightly limited in terms of what you can trade with. On the other hand, it gives the platforms an opportunity to concentrate on existing markets and tools.
Recently, the company addressed the lack of variety in their list. The team added UK and US Oil prices and several indices, such as NASDAQ, S&P, and CHN50. They have also promised further expansion, but only time will tell if this will happen.
Still, the asset variety isn’t the defining feature of this broker, as there are other valuable features that make it worthwhile to trade with.
Charts and Platform Layout
If you want to approach trading from a technical analysis perspective, HighLow offers charting tools. The most commonly used chart is Trader’s Choice Indicator. This shows the current sentiment around an asset and how many traders have opened positions in either direction. As for the fundamental analysis, the platform notifies you about industry and company news on a regular basis.
Not too long ago, the team behind this platform rolled out HighLow 2.0. This was an improvement to the previous layout option with added capabilities, such as One Click Trading. They also added a useful ticker-tape style news feed, which goes right below the charting tool.
The demo account does exactly what you expect it to do. After you register on the platform for the first time, you’ll receive $10,000 in virtual funds. You can use these funds to carry out regular trading operations. Choose an asset you like and experiment with different strategies to determine the most suitable one for you.
There are no time limits for using the demo account. As long as you don’t fully deplete the funds, you can carry on trading. This gives you an immense advantage, allowing you to experiment with new strategies and markets without wasting any of your own money. When you’re done, you can quickly upgrade to a regular account.
Login and Sign-Up
If you have 3-5 minutes, you will have enough time to sign up for the HighLow account. This doesn’t apply to the demo account. So, to open a new regular account, you need to:
- Go to the sign-up page on the official website by clicking the “Sign up” button at the bottom of the screen.
- Fill in all the necessary information (country of residence, full name, email address). You’ll set your password here as well – remember about the best practices for creating passwords.
- The next step is email verification.
- Then, you’ll need to enter your street address, city, and state/province, date of birth, and mobile number.
- Submit your personal information after reading the terms of the agreement carefully.
- Lastly, you’ll be asked to submit a photo ID (such as driver’s license/passport and a secondary ID such as bank statement or any utility bill).
After the process is done, your account will be ready to go. Every time you log in, you’ll need to enter your user ID or your email address and the password you set earlier. If you forget your password, you can reset your account via email.
There are four trade types that users can choose from:
- High/Low options – This is the most basic version of binary options trading. You can decide whether you want to bet on the asset’s price going up or down. If the price goes in the expected direction, you receive a profit. The time limits range from 15 minutes to until the end of the day.
- High/Low spreads – This type bears many similarities to High/Low options. Here, you buy or sell options with different strike prices.
- Turbo options – Turbo options offer you much shorter time limits. Rather than offering a time of several hours, the limit is reduced to minutes or seconds. The default time limit is 30 seconds, but you can adjust it to 30 seconds, 60 seconds, 3 minutes, or 5 minutes.
- Turbo spreads – Similar to the difference between High/Low options and High/Low spreads, Turbo spreads is like Turbo options but with different strike prices.
ASIC regulations don’t allow ridiculous bonuses and promotions, but HighLow offers at least some. Right after you sign up for a new account, you will receive a free cashback of $50. This is a great way to get you started risk-free. There are no requirements regarding how much you have to deposit – the only condition is activating your account.
While it’s advertised as cashback, the terms are even better. Usually, other platforms require you to deposit money or start trading to activate your bonus. Here, there are no additional conditions attached. The service even allows you to withdraw the money right away, which isn’t common.
Essentially, HighLow gives you an opportunity to start trading for profit, but with no risk of losing your own money. If you win, the extra money you get is added to your account. If you lose, you didn’t waste your own money. Thus, it’s a good starting point to gain more experience.
HighLow Points System
One feature that stands out is the points system that gives users cashback. It’s the platform’s incentive to encourage trading activity. The more you trade, the more trade, the better chance you get of receiving 50,000 points per month. How is the system set up?
Depending on how much you trade in a month, you’ll be sorted into one of these categories:
- Player – This tier applies to those trading $0 to $10,000. Unfortunately, it doesn’t provide you with any benefits, such as loyalty points or cashback.
- Trader – If you trade anywhere between $10,001 and $20,000, the service will give you 3 loyalty points for every $10 you trade.
- Pro – The trade volume should fit into the $20,001-$50,000 bracket. Here, you receive 5 points for every $10 you trade.
- Elite – This is furthest you can go with loyalty points. If the trade volume reaches $50,000 or more, the users will receive 10 loyalty points for every $10 you trade. The maximum number of points allowed is 50,000.
Every month the service calculates the total number of points you’ve accumulated. This number is divided by 100 and given to you as cashback. For example, let’s say you received 30,000 by the end of the month. This figure is divided by 100, and the cashback of $200 will be sent to your account. You can then use these funds in the next trading month.
Example of Placing and Managing Trades
To open a new trading position, you need to choose your preferred asset, format, time frame, trade direction, and size. If you have a winning position when the binary option expires, you receive not only the profits from the trade but also a payout percentage (which is up to 200%).
Let’s say your payout rate was 92%, and you win the position. In this case, the payout would be 192%. If the option price closes at the same mark, the sum you’ve initially put in is simply returned back to you.
The thing with payout rates is that the percentage changes based on your actions. For example, if you end the trade before the expiration time, the rate will be lower.
Reputation & Regulation
HighLow’s reputation in the trading community is solid, and the overwhelming majority of traders acknowledge its transparency and a spotless record. If you look at online reviews, you will come across similar opinions.
Most competitors are moving to other countries, such as Caribbean tax havens. HighLow, however, still adheres to Australian regulations and follows the requirements of the Australian Securities and Investments Commission (ASIC). ASIC is seen as one of the strictest entities of the financial world, which means this service doesn’t bend any rules to their advantage.
Deposit & Withdrawal
One of the most important aspects of reliable brokers is that they support major payment methods. This ensures that you can deposit and withdraw money through the vendor that you feel the most comfortable with.
HighLow’s supported payment methods are (this applies to both deposits and withdrawals):
- Bank wire transfers
- Credit cards
- eWallets (Neteller, Poli, Sofort, PaysafeCard, GiroPay)
It’s worth noting that there is a minimum withdrawal amount of $50. This practice is common on many platforms, but some people find it inconvenient. Transactions are usually processed within one day for Australian residents. But you should make a request before the 2 pm cutoff time.
This is where HighLow falls short. Currently, the only ways to contact the service are via email or telephone. You can give them a call on weekdays from 9 to 4 pm AEDT/AEST time. The email is available whenever, but it’s unclear how fast they’ll respond.
Why are email and telephone not enough? When it comes to binary options trading, acting quickly is essential. If you don’t have live chat support, you won’t be able to solve crucial issues in time. As a result, you may lose out on a profitable trade because of a platform glitch or deposit error.
Most users choose the web-based version of the platform. But there is an option for mobile trading for those who want to monitor their positions on the go. If you don’t have access to the desktop trading terminal, it’s a great way to keep constantly up to speed.
You can download the app onto your iPhone or Android from the HighLow website, Google Playstore, or Apple App Store. It’s compatible with iOS 8 or higher and Android 4.0.3 or higher.
The functionality is basically the same on mobile as with the web version. You can open and close trades, view and update your account status, and take part in market activities in any other way you see fit. You will also receive updates with live news feeds to keep tabs on the industry wherever you are.
We’ve covered various features that the HighLow offers. Here is a recap of the positive aspect of this binary options broker:
- Recommended for beginners and buy-and-hold investors;
- User-friendly mobile and web trading platforms;
- Instant withdrawal and low minimum deposit;
- Demo accounts without a deposit required;
- Licensed to operate in Australia and regulated by ASIC;
- Free welcome bonus of $50;
- Monthly bonuses and loyalty programs;
- Strong online trader community and honest reviews.
It would be unreasonable to assume that HighLow only has attractive features. Even though there aren’t too many drawbacks, every potential trader needs to know them in advance. If you find these negative aspects to be significant, you may want to re-evaluate your decision to trade here:
- Low variety of assets can’t compete with some other platforms;
- Hardly any learning resources and guides;
- Doesn’t show extensive trade details;
- No live chat and few contact methods in general.
HighLow’s reputation has always been steady and continues in the same vein. This fact alone sets it apart from many other vendors. You can be sure that your funds will be secure, and you will gain access to all the tools required to become a seasoned investor.
Users can enjoy monthly bonuses, free withdrawals, and convenient trading. There aren’t many Australian trading platforms which have reached this level of prominence. But we want to point out that binary options trading always comes with a certain level of risk. Learn risk management techniques to ensure a consistent and safe experience.