Binary Options?

Hi All,

Im new to the community.
I have tried searching but unable to find any info about how I can continue to legally trade Binary Options. What are my options? pun intended

Whether it be overseas broker, is that still legal? Any resources on this would be greatly appreciated.

Any info or alternatives to binary options would be greatly appreciated.

My understanding is that, due to an ASIC intervention,residents of Australia, will require categorisation as wholesale trader/investor, in order to legally avail themselves of such products.

cynic said:

My understanding is that, due to an ASIC intervention,residents of Australia will require categorisation as a wholesale trader/investor in order to legally avail themselves of such products.

Click to expand...

Thank you for replying,
Do you what the best way to go about doing that? And which brokers will accept you as trader/investor?

Upon choosing the broker offering the desired products, one can usually discover the requisite steps for account opening via the broker website.

For binary options, there probably aren't that many in Australia to choose from.

In years gone by, I've traded with a few brokers that did offer binary options (or similar), namely IG markets, and CMC markets, both of whom have an Australian presence.

On the subject of alternatives to binary options, depending upon one's trading style, CFDs (Contracts For Difference), or ETOs (Exchange Traded Options) might be worthy of some consideration.

Although they don't offer binary options, Plus500 might also be worth some consideration.(I mention this broker due to having had mostly positive experiences since I commenced trading their products.)