Here I have reviewed and compared the best & worst binary options brokers that accept Australian traders. I have also listed the best Australian licensed and regulated brokers.
Best Binary Options Brokers for Australian’s
My personal recommendation “with all things being equal” is to choose a regulated broker over a non-regulated broker. Within the various regulated jurisdictions I would choose an ASIC licensed broker over other offshore regulated jurisdictions.
This is because I have more faith in dealing with a broker and regulator that is within the country that I am resident and where I can physically visit the brick and mortar office of company that owns the broker and regulator issuing the license (ASIC).
If an Australian trader was to file a complaint against an ASIC licensed broker I would be 100% confident that a resolution would be achieved.
However as there are a limited number of ASIC brokers it is quite realistic that the available choices may not suit your trading requirements. For example the ASIC regulated brokers may not have your desired deposit and withdrawal options, expiry times, trading platform or rate of return. In this case I can still confidently recommend to join a NZ FSP or CySEC licensed broker.
My reasons for joining an offshore licensed broker would be much similar to joining an ASIC licensed broker in regards to trading in a safe and secure environment.
The downside in my opinion for Australians to trade with a licensed offshore broker is that their office is in another country and you will be tied to the laws of that financial jurisdiction. This isn’t necessarily a bad thing as both the NZ FSP and CySEC regulators also enforce tough compliance procedures for their licensed brokers which are designed to protect traders (you).
If you still cannot find a regulated broker to suit your trading needs (as I mentioned above) then you will still be able to join a number of non-regulated brokers.
There are no laws against Australian traders to join a non-regulated broker however I would advise that in doing so you are exposing yourself to a company that is not controlled by any financial jurisdiction and at the end of the day are a law unto themselves or the country in which they are incorporated.
You might have noticed that a lot of unregulated brokers are incorporated in small offshore country’s like the Seychelles or Belize where there local company laws are more relaxed, which may make it more difficult to resolve any complaints or disputes that could arise in your trading account.
In saying that I have hand picked a few unregulated brokers that still uphold a good reputation with Australian traders that you might consider to join if you are attracted to their particular payout percentage, expiry times, trading platform, minimum deposit amount, special trading promotion or availability of their deposit and withdrawal methods that you cannot find in a regulated broker.
Lastly, no matter which broker you choose I highly recommend you read all the brokers terms and conditions including their account policy, bonus policy and deposit policy and withdrawal policy before you join.
Best Binary Options Brokers in Australia
There is only a two binary brokers that hold an ASIC license and therefore an Australian regulated broker. This ensures that the companies that operate the brokerage have an office in Australia and adhere to the strict compliance procedures set by ASIC. The ASIC license ensures all Australian licensed brokers provide a safe and secure environment for Australian traders to trade binary options.