Binary Options trading is one of the most popular activities for anyone willing to get an additional income. The Binary Options market is relatively new, but it’s already reached the biggest volumes of binary trade Australia has ever seen. Famous for their devotion to gambling, Australian citizens have fully embraced the idea of options trading due to its similarity to betting. Yet unlike gambling, Binary Options trading involves a great deal of knowledge and research, which makes it an even better source of income once you master it.
When it comes to the legitimacy of Binary Options trading in Australia, everything is handled by the Australian Securities and Investments Commissions. Assisted by the Council of Financial Regulators and the Australian Prudential Regulation Authority, ASIC issues licenses to the brokers and governs their operation. So Australian traders can rest assured that their Binary trading is supervised by serious regulatory bodies.
What is great about Binary Options trading is that it works globally. Even if you reside in Australia, you can always come to a foreign broker with better terms and have successful trading experience. Some of the most popular European brokers are regulated by CySEC which is a secure and time-tested regulator that ensures the highest standards of operation.
One of the most important things an Australian-based Binary trader should be mindful about is taxation. The Binary Options trading earnings fall into the category of investment profits. Each trader must keep a record of his earnings and pay taxes accordingly. Some brokers can provide traders with annual stats, but it’s more of a courtesy than a staple practice.
Choosing the right Binary Options broker is certainly crucial and can affect the further development of your trading career. At the same time, knowledge is no less valuable and adequate market awareness will likely be more important in the long run. As a CFD type of trading, Binary Options can deal with a plentitude of commodities, stocks, indices or currencies. Be sure to focus on a particular segment, but don’t be afraid of stepping out of your boundaries, as it can potentially net much greater profits.
Whenever you decide to try your hand at trading Binary Options in Australia, always remember about the risks it involves and do your homework regarding the trading field you wish to partake in. With the right mindset and sufficient knowledge, Binary Options trading is a piece of cake.
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