We are going to give you a reassuring answer right of the bat: Yes, Binary Options are perfectly legal in most countries.
But before we delve deeper into the realm of dynamic and highly profitable Binary Options trading, let’s try to understand the very reason this question arises in the minds of newcomer investors and traders all over the world.
Like any high-volume market, Binary Options trading attracts the attention of some unwelcome parties.
They try to cash in on unsuspecting traders by scamming them into various shady schemes and false endeavors, harming the entire industry reputation in the process. Thus, people interested in finding a new source of income become skeptical about the whole thing.
Now with that out of the way, let us advocate the idea of Binary Options trading as a sound additional income source.
In recent years the majority of governments came up with Binary Options trading regulations which ensure clear and fair rules for everyone. Binary Options brokers that handle the trading process are not just private companies, they are accountable to financial governmental bodies, including British FCA, U.S.
CFTC, and Australian Securities and Investments Commissions. That’s right, Binary Options trading is legal in Australia, known for its strict CFD trading laws.
Naturally, not every Binary Options broker is perfect, so you might want to do some research before committing any money to trading.
If you’re searching for a solid Binary options broker you can trust, please take a look at our list aimed at helping you find the right one:
Examine the broker’s website for legal information. This includes the license number and its issuer, the jurisdiction the broker is allowed to operate in, user T&C, as well as anything that might further corroborate the broker’s reliability.
There are many legal Binary Options brokers there, just keep looking.
Check what other traders say online. Surely, we don’t have to point this out but stay away from the broker website’s testimonial section if there is one.
Binary Options Trading in Australia - Best Times For Trading, Best Brokers
Try to find a third-party website that aggregates Binary Options broker opinions and reviews.
Learn the type of platform the broker is using. Brokers are numerous, but the number of Binary Options trading platforms they utilize is way smaller. If a broker features a well-known and secure trading platform, it is likely trustworthy.
We hope that after this little clarification the question “are binary options legal?” no longer persists in your head, and that you will be able to find a trusted partner on your Binary Options trading journey.