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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. 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.
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. All you need is good insight into the world of economics.
And if you do have one, why not capitalize on it? 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. 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. 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.
Educate yourself first for all the possible outcomes. The best way to protect your money is by going to reputable and well-established brokers. 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. List of Binary Option Brokers accepting traders from Australia: To make things more clear, here we have information segmented into question-answer form. We have found the ten most frequently asked questions asked by Australians interested in binary options and we tried to provide the best answers to these questions. Is binary options trading legal in Australia?
Yes, binary options trading is legal in Australia. There is no law whatsoever that makes binary options illegal. There are in fact Australian brokers that offer binary options trading. There is a big number of legitimate brokers based in Europe that even offer payment methods preferred by binary options traders from Australia. What is the regulatory body responsible for regulation of binary options?
It has the authority to regulate financial service organizations, financial companies and financial markets. In it became the responsibility of ASIC to supervise the binary options market. Other two regulatory bodies that aid in improving the efficiency of the regulations are the Council of Financial Regulators and the Australian Prudential Regulation Authority. Is there a large number of Australian binary options brokers? The binary options market is a fairly new one, so there are only several official brokers in Australia.
But, seeing how the interest in this sort of trading expands throughout the country, it is expected for more binary options brokers to appear soon. Make sure to always trade with the help of a licensed broker. What is the alternative to Australian binary options brokers? That way you are ensured the highest level of protection and the opportunity for reprieve should it be required.
If what Australian binary options brokers offer is not what you seek, you can try with European brokers. The majority of them are registered with the Cyprus Security and Exchange Commission CySEC , and they abide by the standards set by this commission which is important.
What assets should I choose to trade? That way you can minimize risk and maximize profit. Where can I find resources for Australian binary options? Traders count on ASIC to obtain news about possible scams or unregulated brokers, as well as all the latest information on safe trading practices. What are the types of binary options? There are two main types of binary options trading.
The first is called Once Touch Binaries. What are the risks of binary options trading? Binary options are simple, but involve risk because they are speculative products too. But, if you lose, you lose your entire investment. What is the minimum deposit for a trader? Every Australian binary options broker has a different minimum deposit policy.
It all depends on the broker. Choose a broker that meets your spending limits. Are there illegal brokers in Australia? Just like with every industry, the financial trading industry has illegal operators too.
Despite the fact that ASIC tries its best to weed out all illegal brokers, there are still fraudsters out there, which is why you should always trade at licensed brokers. However, the number of unlicensed ones has significantly dropped.
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