HighLow Markets is an Australian based binary options broker. Its headquarters are in Sydney, Australia and it is managed by HighLow Markets Ltd, which is regulated by the Australian Securities and Investments Commission (ASIC).
HighLow offers binary options on Forex pairs, cryptocurrencies, indices, and commodities. Its trading portfolio includes 24 FX pairs, 5 crypto coins (Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH) and Litecoin (LTC)), 10 indices (AUS200, JPN225, HKG33, GER30, FRA40, UK100, US30, NAS100, SPX500, and CHN50) and one commodity (gold).
The FX pairs and commodities have expirations of 15 minutes, 1 hour, and 1 day, while the crypto coins have an expiration of 1 day.
The indices also have an expiration of one day although their trading hours vary from one index to the other.
The maximum payout in HighLow is 100%.
Is HighLow legit?
In a world where it is hard to find a genuine binary options broker, it is always advisable to due diligence in researching if a binary options broker is legit or just another scam in the market before investing with it.
In our HighLow review, we found HighLow markets broker to be a legit binary options broker since it is registered and regulated by the ASIC in Australia.
Is HighLow regulated?
Yes. HighLow Markets is managed by the HighLow Markets LTD, which is regulated by the Australian Securities and Investments Commission (ASIC) under license number AFSL 364264.
Does HighLow accept US clients?
Currently, HighLow does not accept clients from the US. It only accepts clients from Australia, China, and Japan.
Registration and authorization
To register for an account with HighLow, you should fill in their registration form on their official website.
The registration form takes you through three steps where you should fill in your names, email address, password, current location, date of birth, and mobile number.
Once you complete the registration process, you should verify the account.
Login and sign in
Once you finish the registration process and simple verification of the account through your email, you will get a password and username for your control panel from where you shall be able to fund and manage your account.
To sign in to the control panel, just use the username and password you used in the registration process. Once you verify your account, you are sent some login ID and password that you should use when logging into the trading platform.
To trade on the real HighLow account, you will have to verify your account by sending a scanned copy of your national ID and a copy of a utility bill. The essence of these documents is to verify that the information that you provided during the registration is authentic.
Once you verify your account, you can go ahead to fund your account.
To delete or deactivate your HighLow account, you should contact the broker’s customer support.
HighLow account types
HighLow broker only offers its client one type of trading account apart from the demo account.
HighLow markets also provide a free demo account where beginners can test their trading platform before signing up for a real account. Besides, the demo account can be used by professionals to trade any trading strategy before using it on the real trading account.
The HighLow demo account comes with 1,000,000 virtual Yen, equivalent to $10,000 virtual currency.
To register for the HighLow demo account, you don’t need to have a control panel account. Any visitor on the official HighLow website can choose to open a demo account to try out the features of their trading platform.
Deposit, commission, and bonuses
To deposit funds into your HighLow account, you should log in to your control panel and go to the banking page or just click the plus (+) sign on the right of the account balance.
The available deposit options at HighLow Markets are Credit/debit cards, bank transfers, and Neteller.
Clients can only deposit their trading account in Australian dollars (AUD).
The minimum amount that you can deposit through bank transfer is AUD 10 while the minimum amount you can deposit using the credit/debit cards and Neteller is AUD 50.
For a new account, the minimum deposit amount is AUD$50.
Once the deposit is successful, HighLow notifies you via email.
HighLow welcome bonus
If you visit the HighLow official website, you shall see a notification saying “Register with HighLow today and receive a $50 cashback to trade with”.
Currently, new accounts receive a bonus of up to 50 Australian dollars into their trading account after their initial deposit.
And contrary to most forex and binary options brokers, HighLow has no limitations for withdrawing the cashback. This means HighLow has not set any trading volume that traders should hit for them to withdraw the cashback reward.
Highlow Markets broker offers three types of trading platforms:
- The Desktop web app – for online trading using computers.
- The Mobile web app – for online trading using mobile Android and iOS devices.
- And the Native Mobile app – traders can download it onto their Android and iOS mobile devices from the official HighLow website.
HighLow, however, does not offer a downloadable desktop trading platform. Therefore, traders are always required to log into their accounts to access the trading platform through the broker’s official website.
The HighLow trading platform has a range of unique features and a simple look and feel. At the top of the HighLow trading area, there is a range of tabs that help you choose the expiry time for any asset you choose to trade. The asset tab is usually directly below the expiry time tab. To choose the type of asset (Forex pair, commodity, cryptocurrencies, or indices), there is a drop-down list on the left side of the platform.
The platform also has a chart where you can follow the behavior of the asset you have chosen to trade. The chart displays the current price levels, expected payout, return, countdown to expiry, and trader’s sentiment.
One of the main disadvantages that we found out when reviewing the HighLow trading platform is that it lacks flexibility and adequate advanced technical analysis tools.
Option types offered by HighLow Markets
HighLow Markets offers its clients with four option types, which are indicated at the topmost tab in the trading area.
However, these option types are not as exclusive compared to what other binary options brokers
The HighLow market option types are:
- High/Low option
This is the standard option for trading binary options. It is just a call to predict if the asset value will be higher or lower than the entry point after the selected expiry time. This option has an expiry of 15 minutes, one hour or one day.
The payouts here are less than 100% to allow the broker to make their profits.
- High/Low Spread option
This is similar to the High/Low option but with slight differences in the strike price and payouts. The payouts at High/Low are 100%.
However, traders make will have to make up for the spreads. For example, if the actual market price of an asset like the UK100 is 7289.5, the trader will be presented with a strike price of 7289.8 for high option and 7289.2 for low option.
The spread is the broker’s profit while allowing the trader to get a 100% payout.
- Turbo option
This option is similar to the High/Low option with the only difference being in the expiry time.
HighLow Markets Turbo options have expiries of 30 seconds, one minute, three minutes, and five minutes.
This option is best for traders looking to get in and out of the market quickly. It can be compared to scalping in Forex trading.
- Turbo Spread option
This is a combination of the Turbo option and the High/Low Spread option. Therefore, traders get the chance to trade with very short expiry timeframes and get a 100% payout while catering for the spreads.
The expiry times are similar to those of the Turbo option; 30 seconds, one minute, 3 minutes and 5 minutes.
To withdraw from your HighLow account, you should log into your trading account and click on the withdrawal tab. Normally, withdrawal requests made before 12pm are processed within the same day. However, if a withdrawal request is made after 12pm, the request shall be processed the following working day.
The available withdrawal options at HighLow include Neteller, credit/debit cards, and bank transfers.
After the withdrawal is processed, it takes between one and three days for the funds to reflect into your bank account. This is quite a long time compared to other binary options brokers.
In case a client has an issue that he/she requires addressed by the HighLow customer support team, the client can go through their FAQ section and if the issue is not among the FAQs, then they can send a request or speak to a consultant via a call. However, the requests take quite some time before getting a reply.
HighLow does not offer a live chat option like most of the other brokers, which is faster and more efficient compared to sending a request.