Legal Australian Binary Options and Brokers – Laws & Regulations
It’s a common knowledge that Australians are big fans of gambling. Statistics in the past have shown that they spend more money annually on playing casino games than any other nation. Although binary options trading is considered as a type of investing, its nature is very much like gambling. In fact, financial brokers are some of the biggest gambling “operators”.
Australians love looking for more ways to earn an income, and binary options are an excellent source of income. This form of trading is experiencing an ever-growing popularity on the internet, especially now when governments all around the world have decided to regulate it and make it fully legal. It’s one of the easiest and fastest way of earning profits in Australia.
The world of binary options includes all kinds of trading. From indices to commodities, currencies, stocks etc. You just have to predict the price and wait for the outcome. You guess it right, you win money. Easy-peasy. All you need is good insight into the world of economics. And if you do have one, why not capitalize on it?
List of Binary Option Brokers accepting traders from Australia:
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Payout %: 90%
Binary options are very popular because they offer the possibility of making quick profits at lower risk, which is not the case with forex or traditional stocks. Furthermore, with binary options you know exactly how much you can gain and how much you can lose.
Frequently Asked Questions
Is binary options trading legal in Australia?
What is the regulatory body responsible for regulation of binary options?
Is there a large number of Australian binary options brokers?
What is the alternative to Australian binary options brokers?
What assets should I choose to trade?
Where can I find resources for Australian binary options?
What are the types of binary options?
What are the risks of binary options trading?
What is the minimum deposit for a trader?
Are there illegal brokers in Australia?
Our Top Tips on Choosing the Best Broker
Here are short tips that you can use to guide you through the process of selecting which broker suits you best:
- License and Regulation: Make sure the brokers that you are considering are regulated by ASIC or some other regulatory body in the case of foreign binary options brokers. Licensed brokers don’t fail to brag about their license, which has the registration number.
- Deposit/Withdrawal Methods: You can’t trade if the broker doesn’t offer payment methods that you can use. Check the available deposit and withdrawal methods before deciding to open an account.
- Customer Support: All-around communication is important. Most brokers offer 24/7 binary options experts that can help you via chat or telephone. But, it’s also important to research if the customer support staff has received positive feedback in the traders’ community in terms of professionalism and helpfulness.
- Mobile Trading: Check if you can trade using your smartphone or tablet in case you spend lots of your time on mobile devices.
- Trading Resources: The best online brokers offer resources such as trade tools, quotes, news feeds, analysis and fundamental education about binary options.
- Demo Accounts: Demo accounts that help you test the trading platform for free are extremely important.
- Returns: Look for brokers that offer higher returns ranging between 70% and 90% on your investment.
- Bonuses: Bonuses are great incentive and can give you a nice boost. However, don’t fall for the first bonus you are offered. Check the terms and conditions and what is the required minimum trading volume for the release of the bonus.
Legal Australian Binary Options – Summary
Is binary options trading too good to be true? The social media are flooded with apps that promise easy trading and prospect of large profits and success. But, if you don’t fully appreciate the risks you can end up losing more than you ever imagined.
There are many traders that have sent money to questionable and unlicensed online brokers. They were enticed by promises for big money, but ended up with significant losses. Never get into binary options if you don’t understand the risks involved in this form of trading. Educate yourself first for all the possible outcomes.
The best way to protect your money is by going to reputable and well-established brokers. When you’ve done that, the only risk of losing money is a product of your lack of knowledge on how to trade. Spend several days, a week or an entire month to learn how the market works. Spend time on preparing as long as it takes. Think like an investor.