Binary Options in Australia – All One Needs to Know
Even though Australia is booming when it comes to binary options, it can still be tricky for traders to figure out. There are still a lot of questions to be answered, which we will address.
First of all, it is crucial to figure out whether trading is legal in Australia; people want to make extra money, but they do not usually want to break the law. Even though binary options are extremely popular around the world, different countries have various regulations and rules when it comes to investing.
Here, you will find answers to the mentioned above questions, and they should help you decide whether you should go for it.
What Are Binary Options?
Many people do not understand what binary options are, but it is not hard to get what all this is about. They happen to be financial options, which have only two payoff options. It implies that it is always either a fixed amount or nothing at all. In fact, it is the reason why they call them binary options, as there is no other outcome. To sum it up, there is always a plain yes or no proposition behind a binary option.
Are Binary Options Legal in Australia?
As mentioned before, it is one of the first questions asked by Australian traders. The great news is that binary options are not illegal in Australia. You have to consider, though, that ASIC regulates binary operators in the country; consequently, you must create an account with any ASIC licensed broker. If you manage to choose a reliable one, you will not only get different trading assets but tools to improve your returns as well.
Binary Options That Are Accessible in Australia
You already know that you need to choose a reliable broker if you want to make your way into binary options. Even though the Australian market is relatively new to this field, there are numerous brokers available, which makes this task challenging. That is why you can check a list of the top binary options brokers available in Australia:
HighLow
It is a reliable broker headquartered in Sydney, Australia. The great part about this online service is that it offers favourable payouts while no deposit is required for the demo account. Thanks to these conditions, this binary option is good enough for beginners who want to gain experience.
IQ Option
This online trading platform is Cyprus-based, and it is regulated in the EU. Using it, you can refine your trading techniques because the existence of a demo account is not limited. It means that you are going to have ten thousand dollars in virtual finds. When you feel that you are ready, you can upgrade it to a real account, and the terms will be equally friendly.
Opteck
This online service was founded by a UK-based company that has several branches worldwide. One advantage is that you do not have to download anything; it is a web-based service. Customers are able to trade with a wide range of binary options and use educational materials and tools to succeed.
EasyMarkets
This market maker is also Cyprus-based and is licensed in Australia and Europe. With its help, you can access more than 200 trading instruments in a safe, friendly, and trustworthy trading environment.
Binarycent
It is an offshore company that is available to many traders around the world. It is famous for its three levels of paid accounts, and you can choose any depending on which terms you like more. Even though trading tools are easy to understand, clients can use the provided educational materials.
There are also a few binary options alternatives that you can try in Australia, and some of them are:
- Forex trading. It is a currency trade that is the best alternative. Initially, it was created to make currency transactions easier for companies. These days, it is also an investment. In addition to that, there are many secure services that deal with Forex, such as Finrally and VantageFX. The benefit of this alternative is that a limit to the amount clients can invest does not exist.
- CFD trading. Many online services in Australia provide this trading. It is a kind of mutual financial understanding in which trades happen without actual shares altering ownership.
- Cryptocurrency. This market keeps on growing, so it is worth a try. At the same time, there are various cryptocurrencies, and they have different popularity, values, and volatile rates. Thus, all you need to do is to find a reliable broker that is able to offer what you need.
Conclusion
Binary options are available in many countries around the world, and they are legal in Australia. Furthermore, you can access a lot of reliable brokers online that can help you make extra money. That is why you can always research it and give it a try.
