Is binary options legal in australia

Is binary options legal in australia

Author: alexk75 Date of post: 12.07.2017

Australia is a major trading jurisdiction in the Asian zone. As such, many financial services companies have either made Australia their home, or have sited branches in order to capture the market in that region. Today, we look at the state of binary options in Australia when it comes to brokerage services. Are there binary options brokers in Australia and if there are, what types of brokers do we have there?

Traders will find that binary options brokers in Australia can either be home-grown, or can be foreign brokers offering services to Australian traders. This distinction is important as it has ramifications on traders bordering on issues of regulation. Regulation of the Australian financial markets is conducted by the Australian Securities and Investment Commission ASIC.

The Australian Securities and Investments Commission Act ASIC Act as well as the Corporations Act of , are the two laws that give ASIC its powers of regulation and enforcement. The regulatory powers arrogated to ASIC are sweeping, and under its market regulations function, ASIC has the power to regulate the financial markets stocks, binary options and forex and the operators therein.

To be a licensed and regulated binary options operator in Australia, binary options brokers must meet the following requirements:.

is binary options legal in australia

So what is the current state of binary options trading in Australia? With the new regulations put out by ASIC, the days of offshore brokers soliciting for clients in Australia without an ASIC license or without maintaining a physical presence in Australia are gone and gone forever.

Binary Options - How is the legal situation in Australia? - BinaryOptionsGeek

In addition, these rules seem to have given an advantage to firms operating brokerage services in the forex sector in Australia, to branch out into binary options trading. We see a clear example of this with the development of an MT4 platform with a binary options product by companies such as Enfinium FX. This company started primarily as a forex brokerage, but then came up with a revolutionary white-label Enfinium-Vantage FX binary options trading platform, which provides traders with more than 50 assets on this platform.

Traders in Australia now have the confidence of having full consumer protection as a result of the new rules regarding the binary options market. Traders now can choose between fully homegrown companies like Enfinium, or trade with offshore companies with a physical presence in Australia such as IG Markets.

It is pertinent to continue to check on the status of these brokers as well as any new ones which claim to offer binary options in Australia, from the website of the Australian Securities and Investment Commission.

That way, traders can be sure that they are using brokers which comply with the new rules and regulations set out by ASIC.

is binary options legal in australia

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is binary options legal in australia

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