Business
ASIC bans ‘binary options’ for retail investors – The Australian Financial Review
Most small traders who tried the risky investment lost money, and the regulator is stepping in as part of its crackdown on the $11.5 trillion derivatives market….
Binary options were banned for retail investors in Britain in 2018, with the countrys Gambling Commission taking over surveillance of the market from the Financial Conduct Authority.
ASIC had previously flagged new regulations for the market, but an outright ban on retail participation is at the more extreme end of the options open to the regulator.
On Sunday, new caps were introduced for retail investors trading in contracts for difference (CFDs), another key product in the over-the-counter derivative…
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