Australian Binary Options Trading

Now, unless you’ve been living under a rock the last years, you’d know that binary options trading have exploded in growth over the last couple years. In fact, it’s become a world-wide phenomenon.  With that said, you should become familiar with your countries laws are in respect to trading binary options.

Of course, today’s focus is on binary options trading in Australia. For the most part, the majority of binary option brokers reside outside of Australia. However, option traders can be assured that there is someone looking out for them, the Australian Securities and Investments Commission (ASIC). You see, ASIC protects traders by monitoring and ensuring that binary option brokers follow proper business practices.

Here’s the thing, unlike in the United States, ASIC has yet to put the pressure on overseas brokers to register with them. A trader in Australia can freely select which binary option broker they’d like to do business with. Interestingly, binary options are not only legal in Australia, they’re also considered a form of investing and not gambling. This last statement is important for tax implications. In Australia, traders pay a capital gains tax on their investments.

Now, because Australia has yet to get aggressive on regulating binary option brokers who wish on acquiring Australian customers, the Australian trader must conduct a lot of their own due diligence on their future broker. Ideally, the trader would like to have some security by selecting a regulated broker from some other nation. In respect to payment methods, again, the Australian trader has a number of different selections, without any restrictions. For example, credit cards, debit cards, PayPal, Moneybookers and bank wires are all accepted.

In conclusion, the Australian trader has little to no restrictions on trading binary options. In addition, selecting a broker and platform should be based on the trading vehicles offered, reputation of the firm and the different types of binaries available. Since, most broker platforms are in English, language should not be an issue. In addition, most binary brokers offer AUD pairs and some even offer Australian based companies as trading vehicles.

Chad Simmons

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