Best Options Trading Platform in Australia Compared (2022)
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Best Options Trading Platforms in 2022 (Australia) Options have always been attractive to online brokers due to their profitability. However, they have come into much more prominence with the COVID-19 pandemic causing ripples across stock markets around the world. Australia isn’t immune to these global trading trends, and the search for the best options trading platforms couldn’t come at a more crucial time. Options are a type of derivative trading that allows people to transact on securities in the Australian market.
You can read more about this at the bottom of this page. Table of Contents: 1. Best Options Trading Platform Overall: Plus500. Key Specifications: Regulators: ASIC and FCA Minimum Deposits: 100 AUD No deposit fees Withdrawal fee: None Platforms: WebTrader Inactivity fee charged: Yes, $10 per month charged after three consecutive months of inactivity. Comes with low trading fees Listed on the London Stock Exchange Access to more than 2,000 trading instruments.
Only limited product portfolio available Charges inactivity fee. Founded in 2008, Plus500 has its headquarters in Haifa, Israel. Plus500 is a Stock Exchange-listed global CFD and FX provider that has been able to distinguish itself as one of the premier forex trading platforms for Australians. It is regulated by several top-tier organizations, including the Australian Securities and Investments Commission (ASIC), and UK’s Financial Conduct Authority (FCA) along with CySec, MAS, and ISA authorities.
Plus500 has a lot of in-built flexibility such as an intuitive, seamless platform that includes a well-designed mobile app that equally measures up to the standard. Opening a Plus500 account is a digital, binary options strategy coherent, and harmonious process without hassles although it still requires knowledge and experience. Platform and Trading Conditions. Plus500 is a market-maker, binary options which means that it actively quotes two sides – both the buy and sell – in the anticipation of making a profit on the bid-ask spread.
It seeks to make a profit from the difference in the buy and binary options sell spreads. ( Please note these are illustrative prices only) Therefore, an automated system is triggered as soon as a user places a trade on the Plus500 platform, setting a hedging trade to protect Plus500 from any potential loss by assuming the role of a counterparty. It is a closed system where Plus500 is the counterparty; as a result, there are few requotes but there is fast trade execution.
Account Base Currencies. Compared to other platforms, Plus500 provides a number of base currencies ; even the minor forex ones. However, the exact number isn’t transparent but from our research, binary options it includes at least 10 compared to eToro’s one. Moreover, you need to contact support if you need to change your base currency. Why does it matter the number of base currencies carried by a forex trading platform? Well, because it helps you to avoid conversion fees.
If your trading account is funded in the same currency as your bank account, or you even trade assets in a similar currency as your trading account base currency, then you are able to avoid paying conversion fees.
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