Australia is leading the way with binary options, but there are still a lot of questions that need to be clarified. Trading is one of them, as well as the safety of the broker.
Nevertheless, Australia is becoming more and more accustomed to trading binary options, and for a worthy reason. Because this instrument is easy to use and manage, every trade has a precise risk profile and a clearly defined endpoint. In fact, once you learn how to trade, you will find it an easy way to earn extra money.
Binary options are a new way of trading in the speculative market. These derivative tools can help you earn profits with the anticipations you make about the position of the asset you are trading in the market.
These can be the derivative of Indices, Commodities, Forex, Precious Metals, etc. The trading time for Binary Options ranges from one minute to twenty-four hours and a more extended period is up to one year.
Binary options are legal, and the platforms can operate them without any regulation. But you must go for a platform that is regulated to minimize the chances of fraud.
What you will read in this Post
The 3 Best Binary Options Brokers in Australia
Quotex.io is a binary options trader and was founded in 2020. It is a trademark of Seychelles-based Awesomo Ltd. Company and is regulated by the International Financial Market Relations Regulation Centre (IFMRRC).
Quotex binary broker got certified in November 2020 as a licensed broker. It provides straightforward digital options product. Even though the brokerage has emerged recently, it has already established its name in the market.
The platform offers a wide range of trading assets and multiple methods of payment options. Although traders from some countries like the USA, Germany, Hong Kong, and Canada may experience payment method restrictions, they can still use cryptocurrency.
Quotex.io has a web-based platform which means no download is required to use this application. In addition, the platform offers online trading of options like commodities, forex, indices, securities, and many more.
The trading interface is simple and comprehensive, and with the protocols like AML and KYC, security is guaranteed.
The platform also provides a demo account, so, as per your ease, you can choose to trade either with the real account or a demo account.
#2 Pocket Option
Pocket Option, this binary trading platform, was established in 2017. This platform is owned by Gimbell Ltd and is regulated by the International Financial Market Relations Regulation Centre (IFMRRC).
Its entry has created a significant impact in the market and is one of the most reliable platforms in the industry. To accommodate the investors, the platform provides 50+ payment options and more than 100 assets to trade-in.
Pocket option trading platform provides more than 130 instruments to trade-in. You can choose assets like commodities, forex, stocks, currencies, and indices.
The platform offers one trade type. It uses the most candid type of binary options trading with simple “high” and “low” options. The expiration time can be set from 1 minute up to 4 hours. They offer enormous pay-outs of up to 128%.
Pocket option trading platform is socially connected, and you can communicate with traders around the world on the built-in live chat. This is an advantage for the newcomers because they can chat and learn from the pros.
IQCent is an online broker that offers binary options trading and CFD on stocks, currencies, commodities, and cryptocurrencies. The website is operated by Wave Makers Ltd., Situated in the Marshall Islands.
IQcent was founded in 2017, but it recently started the online trading platform back in 2020. Currently, this platform is not regulated by any legit financial authority.
This trading platform offers 100+ trading assets with the minimum trade size of $0.01, making it the first binary options broker that’s accepts trading in cents. The minimum deposit to start trade is $10.
For a demo account, you have to fund your account and contact the support staff for the credentials. As per your need, IQcent is accessible on desktops, tablets, and smartphones.
Binary Options Broker Australia
Australia is a booming country in terms of Binary Options trading; there is a substantial increase in the number of traders from Australia who are trading in Binary Options.
Binary Options trading is very popular in countries like Australia. The trading is legal in the country, but you need to ensure that the broker you are trading with is registered with the regulatory authority. You can trade with offshore platforms and domestic platforms also.
Australian brokers don’t need to keep the trading record, but you have to pay taxes on the profits if your income exceeds a certain amount.
You must possess all the required documents and provide all the information before commencing trade in Binary Options.
Trade Types in Australia
- One-Touch Binary Options
You can make instant profits whenever there is movement in value, the trade expires immediately, and the profits are instantly transferred to your trade account.
- Double No-Touch Trades
You can go for this particular trade type when you are earning substantial and huge profits.
- Trading Sixty Seconds Trade
In such types of trades, the Binary Option expires in Sixty seconds only.
Deposit and Banking Options
There is a huge variety of payment and banking options available in Australia. For example, you can make deposits using Debit Card/ Credit Card, E-wallets, etc.
Withdrawal takes place within an hour, and you can transfer money to your trading account at any point in time. As a result, trading in Binary Options is very cost-effective in a country like Australia.
Trading Options in Australia
Mentioned below are the top ten trades available in Australia.
- BIT/USD Options
- Trading FTSE
- Stock Trading
- Dow Jones Trading
- S&P 500 Trading
- Gold Prices
- Platinum Markets
- Silver Values
- Bitcoin Trading
- Cryptocurrency Trading
Trading platforms provide a bonus to attract new potential traders; these are also offered as a return for payments you have made since the sign-up process.
A trading bonus is made available to you when you make the initial deposits. You can earn a bonus of up to 128%. Make sure that you select the broker who offers you a bonus between 50% -80%.
The percentage of bonus also depends on the asset you are trading and the volume of trade.
How to Start Binary Trading?
To commence the trade, here are the steps that you can follow:
- You need to select the asset you wish to trade-in for your Binary Operation and then select the expiration time.
- Click on the assets option, and a list will appear, with the name of the assets and the expiry time.
- The next step is to click on the select option in front of the chosen asset.
- You need to select the CALL or PUT option; after selecting this, the selected asset will appear with the current price and the profit and loss involved with the asset.
- Enter the amount of cash you are willing to invest.
- When the trade time has expired, the price of the asset will appear on the screen, and you will be able to realize if you have earned profit or incurred loss on that particular asset.
- If you earn a profit, the amount earned is reflected in your trading account.
Financial Regulation in Australia
The trading of financial assets is regularized by two main regulatory authorities, the Australian Prudent Regulatory Authority and the Australian Securities and Investment Commission.
These are the bodies that regulate the treading of financial assets in the country.
The online trading of forex and other assets is entirely legal in the country.
Trading in Binary Options is also legal, and The Australian Securities and Investment Commission regulates binary options trading in Australia.
Features of the Platforms
A trading platform is a software program traders use to open, close, and manage the financial market through a broker. It facilitates trading and analyzes the market position. The features of the 3 best binary options brokers in Australia are as follows:
Quotex provides a wide range of underlying assets. The platform is web-based and can be accessed through any device like desktop, smartphone, or tablet. In addition, you can access the website via browsers like chrome, safari, edge, firefox.
The interface is easy to understand and use. The charts are smooth with quick responses. Ordering screens are inserted to the right of the chart. You can customize the layouts and price charts as per your preference.
This trading platform has 14 timeframes, 15 drawing tools, and 9 indicators with 17 trend figures, making it very easy to use. Also, the transaction history is accessible.
The copy trading section allows you to simply copy and replicate the trades of successful traders with one click. In addition, the interface of the platform shows the top 20 earners of the day as well.
- Pocket Option
The trading platform offers trading in a wide array of assets. The chart helps you examine the movement of the currencies. The available balance is displayed on the top screen.
The interface is understandable and manageable. Moreover, you can customize the platform to make it a better fit for your needs. For example, the social trading option given on the screen helps you copy other high-ranked traders’ trades.
The two high-capacity trading servers ensure fast and smooth trade order execution.
You can earn passive income with the advanced feature of copy trading, which helps you copy an expert trader’s trade. The copy trading section helps you to analyze the ratings and progress of a successful trader automatically.
The platform is IQcent’s in-house trading platform. It is a user-friendly, easy-to-navigate platform that provides a seamless and intuitive interface with copy trading tools. You can access the website through any browser like chrome, firefox, safari, etc.
The “call” and “put” options are available on the screen to carry out trade and the trade time is between 1 minute to 30 minutes. You can access information from any device because the data is stored on the website and not on the device.
Various chart types make it easy for you to evaluate the market conditions, and you can easily track the movement of the financial instrument of your choice. You can monitor your currently opened positions and can check the closed markets.
This trading platform comes with a copy trading tool through which you can copy the strategy and moves of an expert trader to earn even without any experience in trading.
Types of Accounts
- Demo account
To test the trading platform and learn the trading skills, you can opt for the demo account. The free practicing account offers $10,000 for you to understand and experience the trading system. It allows you full access to trades with some restrictions on proprietary information.
- The real account
With the live account, you can perform the real trade with real money. This will give you access to benefits like trading tips, copy trading tools, bonuses, and other features.
#2 Pocket Option
With the pocket option, you can either practice or trade live.
- Demo account
You can practice trading with a demo account with $10,000 of virtual money. For newcomers, using a demo account is the perfect way to find out whether the platform is worth spending real money on or not.
- Live account
With the investment of $50, you can enter into the world of live trading. Once you register an account, you can begin trading with $1 on over 100+ instruments, including commodities, stocks, indices, currencies, and many more. Along with this, you will have access to other features like indicators and signals, cashback, achievements, social trading, and a comprehensive educational help section.
This platform provides three different types of accounts with different features.
- Bronze account
The bronze account offers a bonus of up to 20%, and you can make the withdrawal in 1 hour. This account also offers 24/7 live video call and chat support, demo account, and copy trading tools.
- Silver account
The silver account comes with a 50% bonus and provides a master class web session, and the first three trades you perform are risk-free. You can make the withdrawal in 60 minutes. This account also provides a practice account, copy trading tool, and 24/7 live assistance if you feel any difficulty.
- Gold account
The bonus with the gold account is up to 100%. An extra feature in this account is that it comes with a personal success manager and web sessions of the master class. In addition, you can perform three risk-free trades and the withdrawal period is 1 hour.
This account also comes with a demo account, copy trading tool, and 24/7 customer support.
Mobile Trading Platforms
Some people prefer mobile applications over desktop versions. Mobile app trading is highly efficient as this enables you to make any trade at any time. Also, they are convenient and comfortable to use.
With more hands-on investment, it is easy for traders to earn. And for their convenience, Quotex brings you a mobile trading app for android and iOS users.
- Pocket Option
With the Pocket Option mobile trade, you can check your trading progress anytime, even if you don’t have a PC or any desktop. The mobile apps are available for Android and iOS users on their respective app stores.
Like many other brokers, IQ Cent also allows its users to use their smartphones for trade purposes. The mobile trade app is available for iOS and Android users.
Services for The Australian Traders
This trading platform offers more than 400+ digital trading options. You can choose from:
- Indices like S&P 500
- Cryptocurrencies – Bitcoin, Litecoin, ripple coins.
- Commodities like precious hard metals and oil.
- Currency – forex pairs.
It offers traders multilingual support. Quotex is available in more than 15 languages.
The support staff is available 24/7 for your help.
#2 Pocket Option
Pocket option has over 130 assets. Those assets belong to these five categories:
One unique service this platform provides to its users is social trading, where you can chat online with outer traders.
The trading platform offers the following instruments-
One currency is traded into another currency
- Precious metals
Hard metals like gold and silver are traded on a contract basis.
It is the international trade of primary goods on a contract basis.
These are traded in the form of equity and stocks.
IQcent is available 24 hours of the day, and you can reach them via several methods.
Payment and Withdrawal System
The minimum deposit at Quotex is $10, and you can commence the trade with $1.
Similarly, the withdrawal minimum is $10, and the amount goes back to the same deposit source.
Additional documents are not required to make the withdrawal, but the company might ask you to confirm personal data. This is done to ensure the legality of the action and prevent any financial fraud or illegal trade.
This platform supports payment methods like credit cards, e-wallet, bitcoins, Litecoin, wire transfers. In addition, no trading commissions are charged.
#2 Pocket Option
To start Live trading, you have to make a minimum investment of $50 in your account. You can commence the trade with $1. The minimum withdrawal amount is $10, which is less than the deposit minimum. They do not charge any commission fee for any transaction.
Pocket option offers a wide range of payment systems. You can use:
- USD coin
- Perfect money
And many more other deposit and withdrawal methods. You can withdrawal money from your balance to your bank card or electronic purse you used for depositing.
#3 IQ Cent
You can start trading with a minimum deposit of $10, and you can use the following methods for payment and withdrawal:
- Perfect money
- Bank wire transfer
Deposits are made immediately via all the means, excluding perfect money, as that might take some time to reflect the balance in your account. IQcent charges no transaction fees, but third parties like banks might apply some charges.
You can make withdrawals through the same source, and they might take an hour after the confirmation message.
The trading platform is very particular regarding their client’s issues, and therefore, it is easy to reach their support staff. The website provides 24/7 assistance through emails and live chats.
- Pocket Option
Customer assistance is readily available on their website. The pocket option provides 24/7 customer service and can be reached through emails, phone numbers, and live chat systems. This platform is also accessible on various social media platforms.
The IQcent customer support team can be reached 24/7 by a return call option, live chat, phone, email, and social media.
Trading in Binary Options is a popular means of earning profits in Australia. Binary trading is entirely legal in the country, and there is a regulatory body that protects the rights of the traders.
You don’t have to pay taxes on the profits earned, but if the profit value crosses a certain amount, you have to pay the tax and record the transactions.
Before trading with the brokers, ensure that the platform is regulated and licensed by some regulatory authority. You must go for a trusted broker who takes your investment seriously.
It is recommended that you do complete research about Binary Trading and the broker before investing funds in the financial assets.