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Bolivia is a landlocked country that is located in western South America, shares its northeastern border with Brazil. Being the fifth largest country in South America, it has a diverse and widespread population. The majority of the population is interested in binary trading. Suppose you are one of those traders from Bolivia who’s interested in trading and want to make a fortune out of it. Then you have come to the right place. This article is all about binary trading options that are available in Bolivia.
Binary options are popular these days, and it can be said that Bolivian residents and traders are no exception. With growing popularity, they, too, are inclined towards the binary option to make easy money.
We have taken the initiative through this article to provide you with all the details of the regulated brokers with whom you can trade safely. And gain huge profits.
(Risk warning: You capital can be at risk)
A step-by-step guide to trade binary option in Bolivia
What you will read in this Post
The easy steps that we are about to provide will guide you through this journey and help you provide clarity:
#1 Pick an available broker that offers services in Bolivia
See the best 4 Binary Options brokers in Bolivia:
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
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
- 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
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
from $10
(Risk warning: Trading is risky)
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
- 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)
Binary Options is a type of options trading that most Bolivian investors are going into today. There are many binary brokers which Bolivian traders can trade on, but not all the brokers’ platforms out there are under any form of supervision. Brokers offer investors instruments that they can use for trade.
The 5 Best brokers in Bolivia are listed below:
List of the 5 best Binary brokers in Bolivia
Generally, there are many suitable binary optionsbrokers all over the world. With so many options, it’s hard to keep an overview. Therefore, we have chosen the best ones for you. So, let’s find out more about the best binary brokers in Bolivia.
#1. Quotex
This broker is a UK-based company that started in 2019. Registration of accounts on this platform is straightforward. Quotex trading instruments are up to 100. Traders can pick any of the assets of their choice.
Although the company is relatively new, it is well-known among traders around the world. Quotex platform is user-friendly. The platform has bots that help investors make accountable trades when placing trades. A mobile app is provided for the traders to trade with. This mobile app is like the web version. So traders have equal trading views.
Features:
- The Quotex minimum deposit: $10
- Assets: crypto, FX, commodities
- Platform: Quotex mobile app, web
- Support of Quotex: 24 hours every day
- Leverage: 1:500
- Bonus: No
(Risk warning: You capital can be at risk)
#2. IQ Option
This broker is a Cyprus-based company founded in 2013. It is a well-known Binary Options company. Aside from Binary Options, IQ Option provides its clients with Forex tools. The company offers customer support that can communicate with clients in 10 languages. They have a branch in the UK to expand their working capacity.
IQ Option technology improvement in 2016 makes the platform one of the best platforms for trading. Opening an account with this broker is simple. After opening an account, traders need to make a minimum deposit of $10 before using the platform to trade.
(Risk warning: You capital can be at risk)
As an investor on IQ Option, you have access to a demo account. The demo account can be used to practice trading techniques you may want to try out before using your real account.
Features:
- The IQ Option minimum deposit: $10
- Assets: index CFDs, commodities, and ETFs.
- Platform: Mobile app of IQ Option, web, desktop download
- IQ Option support: Every day for 24 hours
- Leverage: 1:500
- Bonus: not available
(Risk warning: You capital can be at risk)
#3. Pocket Option
Pocket Option’s main office is in the Marshall Islands. The company was formed in 2017 by Fintech individuals who wanted to try and make Binary Options be done on a unique platform.
Opening an account on the broker is simple. The minimum deposit amount for investors to begin trading on the platform is $50, and trades can be placed with cash starting from $1. As an investor on Pocket Option, you will have access to a demo account for practice.
Having a MetaTrader platform, this broker is well used by numerous Binary Options and Forex traders.
(Risk warning: You capital can be at risk)
Features:
- The Pocket Option minimum deposit: $50
- Assets: forex pairs, ETF, and cryptocurrencies.
- Platform: MT5.
- Support: 24/7
- Leverage: 1:100
- Bonus: Promo codes, cashback.
(Risk warning: You capital can be at risk)
#4. Olymp Trade
Olymp Trade was founded in 2014 to provide Binary Options to investors from Europe and other continents. The broker is accessible on both a mobile device and a computer. Olymp trade investors can start trading on the broker platform by depositing any amount from $10 and above.
The demo account provided is available for all traders. This account is used to plan strategies that can be used while trading with your real account. The broker offer traders lectures, so if you are a new investor, you will be able to learn all that is necessary about Binary Options.
(Risk warning: You capital can be at risk)
Features:
- Olymp Trade minimum deposit: $10
- Assets: currency pairs, crypto, and stocks.
- Platform: MT4, Olymp trade platform.
- Support: 24 hours – 7 days
- Leverage: 1:500
- Bonus: nil
(Risk warning: You capital can be at risk)
How to sign up for Binary Options in Bolivia
Do you already know the broker you want to trade on? Once you do, you can proceed to open an account on the platform. The procedure of opening an account on a broker is easy, and it is digitized, meaning that the procedure is online through your mobile phone or perhaps your computer.
After you must have downloaded the mobile application or gone to the broker’s website, select the signup or registration button. Having done this, you will be prompted to input details like your email address and phone number, and you will create a password that you can use to log in if you log out of your account.
The next phase will be to submit some documents. These documents will help the brokerage company register your profile as a real trader on their server. These documents include an ID card, driver’s license, or a national passport (for identification) and utility bill (for residential).
Once you have completed this, the broker will take some hours to fully get your trading account ready on the platform. Once it is ready, you should receive a message telling you so. After which, you will be able to access your account and start trading on the broker’s platform.
(Risk warning: You capital can be at risk)
Is Binary Options trading legal in Bolivia?
Yes, Binary Options trading is legal in Bolivia. Although no regulations guide and supervise Binary Options trading in the country, Bolivian traders can still trade assets of Binary Options on the broker of their choice.
Bolivian investors should be careful while choosing a local broker because no organization controls them. Many times brokers that are not regulated tend to be fraudulent. As a Bolivian investor, it is better to trade on regulated Binary Options brokers.
Financial regulation in Bolivia
Bolivia as a country is made up of certain financial institutions that make sure there is constant money flow. The country has a Central Bank, one state bank, and 51 financial institutions that are privately owned.
The Central Bank makes the overall financial regulation of Bolivia. The Central bank is in charge of licensing financial organizations that want to operate in Bolivia. The state bank and 51 private financial institutions must follow any rule of law given by the Central bank of Bolivia.
(Risk warning: You capital can be at risk)
Aside from the Central Bank, a body called ASFI is also charged with the duty of the ASFI is to make sure that the financial institutions in the country do not break any laws given by the CBB.
The Bolivia government does not make any financial law as regards Binary Options in the country. Binary Options brokers in Bolivia locally are not regulated by either the CBB or ASFI. But it does not mean that the traders from Bolivia cannot trade with brokers. They should make sure that the broker is under the regulation of a financial institution.
How to deposit funds for Binary Options trading
Traders that have created an account on the broker have access to deposit money into their accounts to begin trading. Every broker has the least amount an investor can deposit before they can place trades on the broker platform.
(Risk warning: You capital can be at risk)
To fund your account, you have to use a payment method. To fund your account, you can choose the bank transfer, card, or e-wallet method. The bank method involves depositing money into your account straight from your bank. This is done by putting in a pin that verifies you are doing the transaction.
The card method involves you inputting your card details. After verifying the transaction is being carried out by you, the amount you want to deposit will be reflected on your trading balance once it is successful.
The e-wallet method is pretty much the same. You will need to verify that you are the one carrying out the transaction.
How to withdraw
Withdrawing is easy. It’s just as easy as depositing money into your account. First, you need to select the withdrawal button. After that, you can then select a payment method. The payment method will determine where you want the money to be sent. There is bank transfer and e-wallet transfer available.
The bank transfer method will mean that the fund you withdraw from your trading account will be sent straight into your bank. You will also need to verify that you are the one doing the transaction. Once you confirm this, the money will be reflected in your bank account within some time.
Selecting an e-wallet means that the trade will be sent straight to your e-wallet account. From your e-wallet, you can transfer the money anytime to your bank for withdrawal.
(Risk warning: You capital can be at risk)
Sometimes, a percentage will be deducted by the broker you are trading on. Not all brokers charge for withdrawal. The charge may be from when the amount you are withdrawing is from a certain price.
How to trade Binary Options in Bolivia
To be clear, Binary Options are a trade that requires not much from the individual. It is one of the liquid markets to explore today. With the steps written below, you will understand how simple it is to trade Binary Options as a Bolivian trader.
After opening your account as a Bolivian trader on your preferred broker and depositing money for trade, follow the simple steps below to know how to start Binary Options:
Step #1: Study Market movement
Study how the market is moving. The Binary Options market is very quick, so many traders fail to know when and where to place a trade. But if you are a trader that keeps a close eye on the market movement, then you will have no problem with where and when to place a trade or open a market.
Another way to study market movement is by joining forum chats on the broker (if available). Many traders tend to discuss in forums how the Binary Options market is going. As a novice, you will get to know a lot. Sometimes webinars are even organized by experts. These experts take their time to tell how the market might go in the next few weeks.
(Risk warning: You capital can be at risk)
Step #2: Choose a market
People choose the market because they want to make profits. You have to choose your market based on how it favors you while trading. There are two methods available – trade duration and interest.
- Trade Duration
Binary Options trading uses what is called time frame. This means that the trader sets a particular time the trade should end. The time settings can be in a day, hours, minutes, or weeks. The traders set a contract time that will work for them.
- Your Interest
As a trader trading Binary Options, you can also choose to trade in a market because of your interest. You could choose a market because of a particular Binary Options tool that you like to trade with. Traders that like Cryptocurrencies pick markets that trade crypto.
(Risk warning: You capital can be at risk)
Step #3: Select a trading amount and duration of the trade
To place a trade, you need to input an amount you are willing to buy or sell. The amount you choose will depend on your return if you are successful after the trade ends. Duration of trade is how long you want the trade to last. Is it minutes, hours, or a whole day? You have to select a contract time.
Step #4: Place trade
Select the “confirm” button to place a trade. Then watch as the market moves.
Step #5: Exit trade before close or wait for trade time to expire
This depends on if the trade is going well or not. If your prediction is going well, you may choose to stay on the trade till the contract time expires. But if it is not, you may pull out of it. The choice is yours in the end. Only if you predict right you will make a profit.
Payment methods for traders in Bolivia
Through this article, we’ll try to provide you with some of the best payment methods through which traders in Bolivia can easily make.
Bank Transfers
An excellent way to send and receive money. This is one of the most popular and safe modes of payment regarding binary trade options. Bank transfers are the cheapest way to transfer money. The traders are benefitted easily from these simple bank transfers that provide them with opportunities to make payments easily. To make bank transfers, all that the trade needs to do is, confirm their bank details when asked. And they can easily transfer funds from one account to another.
Cryptocurrency
Traders can also make payments through cryptocurrency. The traders can make payments, transfer, and even withdraw funds with the help of cryptocurrency. The traders are provided with multiple options. Cryptocurrencies are widely used by many traders these days.
Electronic Wallets
Traders from Bolivia can also benefit from Electronic wallets. They can easily make payments through e-wallets. Electronic wallets work the same as debit or credit cards. Being a digital electronic payment system, it keeps track of the trader’s payment information.
Card Payments
Being the simplest way to make payments online. Card payments refer to debit, credit, or any other master card. One of the best features of card payment is that it can be availed at any place and at any time. It’s up to the trader to make payments on either his debit, credit or any other form of master card. The trader simply needs to use any of these cards and can make payments easily.
Pros and cons of Binary Options trading in Bolivia
In this section, we’ll be providing both the positive and negative traits of online binary trading are positive and negative sides.
The Pros of Binary Trading are:
- The rate and the level of risk can be easily regulated, tracked, and managed. Through prior speculations, it is possible to calculate the trades.
- The entire process of binary trading is simple and user-friendly; unlike traditional trading, traders have a vast opportunity for growth and expansion.
- The traders have the added benefit of trading from anywhere and at any time, no matter which corner of the world they may be in.
The Cons of Binary Trading are:
- There is the ratio between wins and losses is often not regulated and balanced.
- When compared binary options are more expensive to trade when compared to forex positions or any other form of trading.
- If a trader wants to practice trading beforehand, he won’t get any opportunity as such. Especially for beginners, it becomes quite an issue.
Risks of Binary Options Trading in Bolivia
There is a bare minimum amount of risk involved with binary trading. It rests between 1% to 2%, and to the maximum, it might extend to 5%. Let’s explain a few of them in detail:
- The market risks involved in binary trading are high.
- Another ruling factor that traders must be careful about is its fixed and limited profit rates; no matter how much you invest; the rate of profit will be the same.
- The binary option is a short-term investment that can’t provide long-term returns.
(Risk Warning: Your capital can be at risk.)
Conclusion: Binary Options trading is available in Bolivia
To conclude the article, we can say that the binary trading option is such a platform where the traders are offered a huge range of investment possibilities, which we would always advise testing through a demo account. By now, you must now be aware that the fundamental thing in binary options trading is to determine the existing trend and the chances that the trade will be bullish or bearish. The Binary trading option has always attracted traders all over the world.
After reading the article, you must be aware that prior you invest in binary trading, there are a plethora of factors that need to be considered. All the broker we have mentioned in this article has a free demo account that you can access by navigating to the official webpage of the broker and tapping on the ‘register option. Precisely speaking, it can be said that the trading journey can be initiated within a few seconds. All that matters is you simply need to be careful about whom you invest in and the broker that you are dealing with.
Frequently Asked Questions (FAQs) about Binary Options in Bolivia:
Does binary trading in Bolivia provide traders with a quick way to mint money?
Yes, binary trading options are one of the easiest and quick ways to make money. The trader has ample opportunities to win big if their speculations are right.
Which are the online platforms that you can trade binary options from Bolivia?
Binary trading can be initiated via various sorts of platforms. In Bolivia, traders can easily trade through the brokers we have suggested here in this article, like Quotex, Pocket Option, and Focus Option. Other than that, the broker can also go for other brokers as well.
Is binary trading risky in Bolivia?
Yes, binary trading options in Bolivia can be extremely risky. It can be risky for both brokers and traders, as both are always under some sort of risk. This is the reason that we have always been recommending that traders fabricate the right trading policy prior they initiate trading.
(Risk Warning: Your capital can be at risk.)
