Australian (ASX) Stock Market Forum

Seeking Clarity on Online Binary Options Signals

Jump to new
M

miawilson

Joined
25 August 2021
Posts
12
Reactions
7
Hello everyone.

I'm in the midst of my journey into the world of binary options trading, and I've come across the topic of online signals.

However, I must admit that I'm a bit perplexed by the variety of options out there.

Are there any trustworthy online platforms or services you can recommend for binary options signals?

How do you assess their reliability, and what criteria should I consider before selecting one?

I'd greatly appreciate any insights or experiences you can share to help me make an informed decision in this complex landscape.
 
miawilson said:
Hello everyone.

I'm in the midst of my journey into the world of binary options trading, and I've come across the topic of online signals.

However, I must admit that I'm a bit perplexed by the variety of options out there.

Are there any trustworthy online platforms or services you can recommend for binary options signals?

How do you assess their reliability, and what criteria should I consider before selecting one binary options signals online?

I'd greatly appreciate any insights or experiences you can share to help me make an informed decision in this complex landscape.
Click to expand...
thanks in advance for any help
 
miawilson said:
Are there any trustworthy online platforms or services you can recommend for binary options signals?
Click to expand...

No, binary options trading is extremely dangerous and the Australian financial markets regulator ASIC has banned the issue and distribution of binary options to retail clients in Australia until 1 October 2031.

In the 13 months to 3 May 2021, before the ban took effect, ASIC found that retail clients incurred significant aggregate net losses trading binary options. For example:
  • 74–77% of active retail clients lost money trading binary options
  • retail client accounts made net losses of $14 million in aggregate
  • loss-making retail client accounts made net losses totalling $15.7 million, while profit-making retail client accounts only made net profits of $1.7 million.
ASIC Deputy Chair Karen Chester said, ‘Binary options are harmful, high-risk financial products resulting in millions of dollars in losses for retail investors before our ban. Extending our binary options ban until 2031 ensures this important protection for retail investors will continue.’
Click to expand...

Anyone reading this should steer clear of anything to do with binary options.
 
Top