This is the official HighLow Review that will explain whether you can trust this broker and how to best use it. We believe that you should only join regulated trading brokers that are transparent and honest. Please let us know if you have had any trouble with HighLow trading broker and we will help you!
HighLow is a prediction options trading brand, owned and operated by Australian company Highlow Markets Pty Ltd. In a market where many operators are illegally collecting deposits from clients without being regulated or authorized to carry out such activities, the HighLow brand comes backed up with a strong regulatory oversight behind its operations, ensuring that traders get the best possible deal in the prediction options market.
Official Website: https://en.highlow.net/
HighLow is a brand whose parent company is registered in Australia as a Financial Services Company. This designation allows HighLow Markets to accept deposits from traders, offer a platform to trade binary options, provide settlement of trades and pay out withdrawal requests promptly.
In keeping with regulatory requirements of the Australian regulators, HighLow does not offer bonuses. Rather, a $50 cashback in cash is provided to cover any losses incurred in the first few trades up to $50.
HighLow offers its clients two versions of platforms for their prediction options trading.
a) Web-based Platform
Connect anywhere with the web-based platform, available on the HighLow website. The arrangement of the interface makes it easy to pick assets, choose expiry times, investment amount, etc.
b) Mobile Platform
For iOS and Android users, a mobile app is available for download on the respective app stores.
The following types of binary options trades are offered on the HighLow platform:
- HighLow: This is the classical binary options type which features predictions on prices ending the trades higher or lower than the reference price (market price). This is for short term traders as the expiry times tend to last from 15 minutes to 2 hours.
- HighLow Spread: This trade type puts two targets: one each above and below the market price. Predict if price will end up above the 1st target or below the 2nd target for a high yield payout.
- Turbo: This is the high speed binary option, with an expiration of 30 seconds, 60 seconds, 2minutes or 5 minutes. Simply predict whether prices will end higher or lower than market price within the allotted time.
- Turbo Spread: Make the most of a bid/ask spread in predicting where prices will end up within an ultra-short expiry time.
Traders on HighLow can trade the following asset classes:
- Gold futures
Customer support on HighLow can only be contacted on phone or via email using the online contact form. The channels are listed below:
- Phone: +61 1300-870-442 (can be reached on weekdays from 09:00 to 04:00 Sydney time).
- HighLow also affords users direct email access using the online contact form.
The languages supported on the customer service channels are English, Mandarin and Japanese. This reflects the geographical distribution of traders on the HighLow platform. Also,there is a large Asian presence in Australia and this informs the listing of the Chinese and Japanese languages as part of the customer support languages of communication.
Regulation and Security
The binary options market has had its fair share of scandals. Most of these scandals arose because of either lack of regulation of the brokers operating in the market or lax regulatory practices. The Australian Securities and Investment Commission (ASIC) has over the years, assumed a no-nonsense stance on regulation and has in place strict regulatory protocols for all Australian Financial Services companies. Brokers operating in the Australian binary options market are required to have the following:
- An Australian Financial Services License (AFSL). HighLow Markets Pty Ltd holds an AFSL with number is 364264.
- Must have an operational and properly staffed office within Australia, and not merely operate with affiliates. HighLow Markets Pty Ltd has an operational office in Sydney, Australia.
- Must hold clients’ funds in segregated accounts. With HighLow Markets, all clients’ funds are segregated in the National Australian Bank.
Deposits and Withdrawals
Deposits and withdrawals should be made using the following methods.
- Credit/debit cards: Card deposits can be made with MasterCard and VISA branded cards, with the minimum deposit set at $50. Traders must be logged into the MyAccount section of the members’ area to be able to initiate transactions.
- Neteller: The trader can also link a Neteller account to the trading account, and deposit/withdraw funds. Minimum deposit amount is $50. Withdrawals can be done using the Net+ card, with a minimum withdrawal amount of $50 and maximum withdrawal amount of $10,000 per transaction.
- Bank wires: Bank wire withdrawals are processed within 1-5 days, depending on if the request was made before 12pm Sydney time. The minimum funding amount is $50. There are no maximum limits.
- Other Methods: Traders can also deposit or withdraw funds using localized payment methods such as Poli, Sofort, PaysafeCard, GiroPay and more than 30other country-specific methods.
Using the HighLow trading platform comes with certain benefits which are listed below:
- The HighLow brand is regulated licensed. This confers protection on traders and boost confidence in the broker’s ability to deliver a transparent trading environment.
- 256-bit encryption is used to secure information and data transmitted across the site.
- As per ASIC’s regulatory requirements, all traders’ funds are segregated in the Australian National Bank.
- Withdrawals are fast and easy.
- Traders have access to a mobile trading app.
What are the challenges that come with using the HighLow platform? Some of these include the following:
- Customer support channels are limited.
- The asset listing of HighLow is not as robust as that of many competing brands in the market.
- The trade options are quite limited. For instance, the Touch options and Boundary options are not featured on the platform.
Is HighLow a Scam?
It is good to know that there are still regulated brokerages in the binary options market, which has been badly tainted by high-profile scandals in the last three years. HighLow is regulated by ASIC, one of the toughest regulators out there. Traders that use HighLow can at least be assured that if they make profits and these are not paid promptly, there is a responsive regulator to turn to. However, the brokerage needs to work on improving the customer support channels as well as the range of assets that are traded on the platform.