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Greece shares a border with Albania in the northwestern part of the country and with Turkey in the northeastern. The binary options market is one of the fastest markets. Many brokerage firms are starting to make their platforms providers of Binary Options trading instruments. Today, many accept Greek traders who want to trade different assets in Binary Options. Greek traders still need to be careful about the brokerage business they choose for their trading.
Below are the 3 Best Binary Options brokers in Greece.
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
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)
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)
What you will read in this Post
List of the 3 best Binary brokers in Greece
Generally, there are many suitable binary options brokers 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 Greece.
1. Quotex
Quotex is one of the latest Binary Options companies. It began in 2019 in Seychelles, and today, more than 1 million clients are trading on the platform. Quotex clients, while trading, enjoy fast transactions.
Quotex’s deposit starts from $10. Clients enjoy favorable trading situations like being able to trade at $1, having access to a Quotex demo account that can be used to practice, and having a secure trading platform.
Features:
- The least deposit at Quotex is $10
- Tools include currencies, CFDs, stocks
- The platform is available on phone via the “Quotex app” and web
- The customer support responds 24/7
- Return up to 95%+
- No bonus
(Risk warning: You capital can be at risk)
2. Pocket Option
Pocket Option has an MT5 platform that allows clients to perform more than one function while trading. Aside from that, the interface on Pocket Option can be designed. Aspects of the interface that can be designed include the theme and the chart.
As a trader on Pocket Option, your minimum deposit is $50. You can begin trading from as little as $1 on the broker. If you’re new to Binary Options trading, the broker provides its traders with a Pocket Option demo account. The account helps you trade because it looks exactly like a real account.
Features:
- Least deposit at Pocket Option of $50
- Trading tools Energies, ETFs, stocks
- Platform is MT5
- Customer support responds 24/7
- Leverage up to 1:100
- They give bonuses from cash-back, depositing
(Risk warning: You capital can be at risk)
5. Olymp Trade
Traders on this platform enjoy security while trading on the broker. Signing up for an account on the broker is straightforward with the use of any device. Olymp Trade‘s platform is available on phone app and desktop.
Trading on the platform can be done for $1. With a minimum deposit of $10, the broker is budget-friendly. As a trader, you can customize the broker’s feel and design to meet your taste.
Features:
- The least deposit at Olymp Trade is $10
- Trading tools are FX, OTC, stocks
- The platform comes with a Binomo app and a computer version
- The customer responds 24/7
- Leverage fee at 1:500
- Deposit bonus
(Risk warning: You capital can be at risk)
How to sign up for Binary Options trading in Greece
Signing up on a Binary Options platform has to be done if you’re going to trade Binary Options. There are several out there. After you must have chosen the one you want to trade on its platform, you can go ahead to create an account with them.
Step one is always filling out a signup form. The signup form includes information like your full name, e-mail, mobile number, date of birth, or age. Most broker platforms are age conscious and do not allow Binary Options trading for people below 18 years. After filling in all the information on the signup form, you still need to pass one more stage.
The next stage is to submit a means of identification and residency. Without providing these two, you will not be able to trade on any broker’s platform. Some may require you to take a portrait picture of yourself. After the broker has gotten this information, your Binary Options trading account on the broker will be ready to use in a while.
After completing registration, your trading account doesn’t just become ready immediately, which means you will be unable to use your real account immediately. In the meantime, you may use the demo account to practice trading till your real account is ready for use.
(Risk warning: You capital can be at risk)
Is it legal to trade Binary Options in Greece?
Binary Options trading is not legal in Greece due to regulations of the EU (ESMA Regulation). It is forbidden to offer Binary Options to European citizens.
The legal framework that guides Binary Options operations in Greece is the Bank of Greece and the Hellenic Capital Market Commission, founded in 1927. Both bodies do not restrict Greek traders from trading on foreign Binary Options brokers as long as they are secure.
Financial regulation in Greece
Financial institutions such as commercial banks, private banks, lending institutions, and pension institutions in Greece are controlled by the Central Bank, known as the Bank Of Greece. The BoG was formed under article 55A. This article also stipulates the kind of duties of the BoG.
The Central Bank’s supervision makes for a transparent financial system in Greece. Aside from transparency, there is also the assurance of stability and smooth running of Greece’s financial status because of the Central Bank.
Greece has a body that is called the SSM. The SSM is the European CB in Greece. Through the Bank of Greece, the SSM can supervise financial institutions in Greece. SSM is part of the regulatory organization because Greece is a member of the European Union.
The Single Supervisory Mechanism and the BoG work hand in hand. The Central Bank in Greece is charged with the duty to distribute cash evenly between the financial institutions in the country.
About Binary Options trading in Greece, the Bank of Greece also regulates the financial operation of Binary Options in Greece. Aside from the BoG, a body known as the HCMC is the main financial regulator in Greece that supervises the operation of Binary Options.
(Risk warning: You capital can be at risk)
How to deposit funds for Binary Options
After your Binary Options trading account is ready, you will need to fund it with money to trade with the different assets the broker provides. Every broker platform has a minimum deposit with which traders can fund their accounts. With the use of a payment method, you will be able to fund your trading account.
As part of the payment methods available on broker platforms, you can fund your account with a straight deposit from your bank. This process is straightforward as nothing serious will be needed. Just your account number and name. After providing the account number and name, you will provide the pin sent to you by your bank on the broker. After that, your Binary Options account will be credited.
Investors may use a card (debit or credit) to fund their trading accounts. Investors who have MasterCard or a Visa card from their bank can use it as a means of deposit. The card will fund your trading account with money from the bank account it is tied to.
If you own an e-wallet, you can fund your Binary Options trading account with the e-wallet. As a trader, if you also have a crypto-wallet, you can fund your trading account with it. The process to fund your account with a crypto-wallet and e-wallet can be carried out with simple steps on your broker.
(Risk warning: You capital can be at risk)
How to withdraw
Withdraw money from your trading account by selecting one payment method that suits you. The most common withdrawal methods are card withdrawal, withdrawal into your bank account, e-wallet, and crypto-wallet.
The card withdrawal is selecting the card you want the money from your broker account to be sent to. By putting the card details, the money can be sent straight into the account number the card is joined to.
For the Bank process, you will select the bank account you want to receive the fund from. After you have confirmed with the broker that the account is yours, the money will be sent to the bank. This process doesn’t require the need for a card.
(Risk warning: You capital can be at risk)
If you select either the crypto-wallet or e-wallet, the money will be sent straight to whichever wallet it is. When you withdraw, the money may not be sent to whatever medium you want to receive it with immediate effect.
How to trade Binary Options in Greece
If you want to be a Binary Options broker, you can start today by just knowing the basics of how trading is being done. Some online brokers will provide traders with an article or blog on how to start trading Binary options. Remember that Binary Options trading is not in any way tough.
With the help of the steps below, you will be able to trade Binary Options.
Step #1: Pay attention to market trends
If you’re going to be a trader on any Binary Options broker, learn how to pay attention to the market’s movement on that broker. In any market you want to go into, you should pay attention to its market trend. Binary Options trading is based on making bets made on the market trend. If you end up being right about it, you make a profit, but if not, you lose. This is why it is good to pay attention to how the market moves.
Step #2: Pick your market
This is a strategy traders use to specialize in a market. By specializing in a market, you have the better potential to make more accurate predictions of a market. There are two ways traders go about this.
- Trade Span
Trade span involves selecting a market based on how long you as a trader can place bets on the platform. Many traders do this because it helps them know how to know when to place a bet within a certain time. Let’s take this instance for example – a market that can last for 3 hours, traders can easily make predictions on how the market trend may move within those hours.
- Person interest
There are traders out there that place bets during Binary Options trading because of what they are interested in. A trader may pick an interest in ETFs. Say stocks ETF, such a trader will pick markets with this asset.
Step #3: Enter your trading price and trade span
You can bet with any amount on your Binary Options broker as long as it is not smaller than the amount stipulated by the broker. The higher the money used to stake, the higher your profit if you win in the end. You’d also need to set how long you want the bet to go. Choosing a trade span you have mastered to predict the market trend is the best thing to do.
Step #4: “Confirm” you want to place a bet
After choosing the amount you want to trade with and the trade span, you’d be able to choose the confirm button or cancel. Click confirm to place a bet or open market on the chart.
Step #5: Cancel the bet or let your trade span end.
Even after you have confirmed to go ahead with your trade, you can still cancel your bet if you think that your trade may go wrong at any time. While the market is still going in your favor, you can cancel the bet to earn little profit or no loss. You can wait for the trade to end when the time-lapse has reached if you are very confident that your bet will go as planned.
Conclusion: Binary Options brokers are available in Greece
Greek traders are allowed in the brokerage firms listed above. The good thing is that they offer security and guarantee to Greek traders. As a trader, you also enjoy favorable trading situations with the brokers.
Trading Binary Options should be done with precautions. As a new trader, you should try out the demo account offered by your broker for proper practical steps on how to trade Binary Options. You could also start with trading small amounts before making you start using larger amounts to trade.
(Risk warning: You capital can be at risk)
