Most of the binary options brokers in operation today welcome Australian traders. But few brokers maintain sales offices in Australia. Fewer still are headquartered there. The reason has to do with the way financial services institutions, including investment firms, are regulated by the Aussie government. While there are technically many Australian binary options brokers – we’re speaking in the context of firms that welcome traders living in Australia – most are headquartered in other countries.

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In the space below, we’ll explain how binary options brokers in Australia are regulated and which agency oversees their operations. You’ll learn what the agency does and its purpose. We’ll also give you a list of brokers that cater to Australian traders with both easy deposits, withdrawals and fx currency pairs of the AUD, and provide details to help you choose from among them.

Binary options are a relatively recent phenomenon in the investment industry. Although they’re becoming more popular among traders, it’s important to realize that trading binaries involves substantial risk. It’s possible to make a healthy profit over time, but don’t be fooled into thinking that doing so is easy. (The same is true for stocks, mutual funds, and similar investment vehicles.) With that bit of advice out of the way, let’s get started.

Legal To Trade? Regulatory Body For Australian Binary Options Brokers

The governmental agency in Australia that regulated binary options brokers is the Australian Securities and Investments Commission (ASIC). It is responsible for licensing companies that are registered in the country, and monitoring their operations. In doing so, ASIC accomplishes several goals.

First, it gives investors confidence in the financial markets. Because a majority of the key actors are closely watched, investors can participate without constant worry about falling prey to fraud.

Second, the agency infuses the markets with a sense of stability. The regulations it oversees are designed, in part, to prevent financial firms from causing and perpetuating a cataclysmic debacle in the markets.

Third, ASIC helps to ensure there is a degree of accountability among financial firms, including binary options brokers. Should a particular company commit an egregious error, the watchdog agency is there to make certain the offending firm corrects the problem.

By pursuing these and other goals, ASIC works to improve the overall effectiveness and efficiency of the financial markets. Although there are numerous hiccups and challenges along the way, there is also a semblance of order.

What About Binary Options Brokers Outside Australia?

It’s tempting to think brokers that operate outside Australia’s borders are doing so in a lawless manner. And by extension, if you decide to open an account with them, you are essentially throwing caution to the wind.

In reality, there’s little evidence of fraud among firms headquartered in places like Cyprus. Most companies operate with the intention of doing so over the long run. They are not fly-by-night operations. An example is 24Option, one of the most reputable brokers in the industry. They cater to binary options traders in the U.S., Japan, France, and many other countries (including Australia), but do not maintain offices in those countries.

Legitimate brokers, such as the firms you’ll find on our list of recommendations, toil endlessly to earn their customers’ trust. They realize there are many brokers you can choose from. Committing a single act of fraud can potentially destroy their businesses.

With that in mind, we’ll offer a few suggestions below for binary options brokers that welcome Australians. We’ll also highlight a few firms that are licensed in Australia in the event it provides you with an additional level of comfort.

Binary Option Brokers That Accept Australians

A few quick notes before we introduce our list. First, stick to brokers that have a solid track record and reputation. Second, take a look at the assets you can trade at each firm. There’s no need to go with the broker that has the greatest number of assets. But it’s important to prioritize firms that have the assets you know something about. Third, consider both payouts and rebates. Some binary options brokers offer lower payouts than others on in the money trades, but extend a healthy rebate for out of the money trades. Think about both sides of the equation.

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MarketsWorld www.marketsworld.com
Phone: +44 (0) 1624 679 022.
No sales office in Australia
Burleigh Manor
Peel Road
Douglas, Isle of Man
IM1 5EP
Great Britain

MarketsWorld requires a very low $20 minimum deposit, and offers returns between 70% and 91% on most contracts. You can trade as little as $1 per binary option, which makes it easy to trade without risking a substantial amount of money. This broker carries contracts on a huge list of assets, providing a lot of flexibility missing with other firms.

 

IQ Option
www.iqoption.com
Phone: +44-2080997262
No sales office in Australia
Estias 11B Ilioupoli Dali,
Nicosia Cyprus

Traders can get started with a small $10 initial deposit at IQ Option. Potential returns on contracts range between 70% and 85%, which is standard enough for the industry. However, the broker offers bonuses and rebates on losing trades. One of several notable features of IQ Option is its long list of stocks that can be traded.

Banc de Binary
www.bbinary.com
No sales office in Australia
40 Wall Street New York,
NY 10005 USA

High Low
www.highlow.net
Level 29, Suite 4 259 George Street
Sydney NSW 2000 Australia

HighLow.net is a binary staple that is hugely popular in Australia and New Zealand, which has its headquarters in London. The company is licensed and regulated by the Australian Securities and Investments Commission. It has a good reputation for dealing fairly with its customers, though few traders rave about them. We’ve included this broker on the list as an example of a firm licensed by ASIC, but do not know enough about them to make a formal recommendation.

MarketPunter (also known as TradeSmarter)
www.marketpunter.com.au
Phone: +61 2 8915 6267
King Street Wharf Suite 516,
15 Lime Street
Sydney NSW 2000 Australia

Market Punter was, at one time, one of Australia’s most popular regulated binary options brokers. But they ran into trouble. The company debuted as Market Punter, one of several brokers under the TradeSmarter brand, and are now operating as StartOptions. MarketPunter stumbled hard in late 2011 due to a “misunderstanding” about current regulations involving binary options. Client trading was suspended and the broker lost its license. Needless to say, buyer beware.

WinOptions
www.winoptions.com
Phone: +61-29-1919713
No sales office in Australia

WinOptions debuted at the beginning of 2012, making it one of the newest entrants in the binary options industry. Traders have access to numerous types of contracts, including 60 second options. They can also take advantage of special features, such as Option Builder. WinOptions is currently extending a 60% matching bonus on initial deposits. But realize that such bonuses typically come with conditions that make earning it out difficult (though not impossible). Update June 2017 – this broker is a scam. Avoid them.

IG Markets
www.igmarkets.com.au
Phone: 1-800-601-799
Level 7, 417 St Kilda Road
Melbourne VIC 3004

IG Markets is a mid-sized broker with a mixed track record among traders. Members like its trading platform and feel they receive reasonably responsive support. There have also been reports that they pay quickly. At the same time, IG Markets has been known to inexplicably suspend members’ accounts. They have also ceased operations in the U.S.

If you live in Australia, you can choose to register an account with any of the binary options brokers listed above. Just be aware that most of them are outside the jurisdiction of the Australian Securities and Investments Commission.

Last Updated 5/30/2017

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