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Binary options trading – Watch this before you trade

Commentator: Would you bet everything you have on a long shot? You might win big… but, you might lose it all. That brings us to the financial buzzword that’s all the rage these days: Binary options. Punter: Ummm, that’s actually two words. Commentator: Yeahhhh… and you just lost all your money so maybe just go home. So we get it. Binary options certainly sound enticing. I mean whose ears wouldn’t prick up at this idea of 70 – even 80% – profit in just minutes? When all you have to do – supposedly – is guess whether an asset, index or commodity will reach a certain price at a certain time. See… truth is… it puts you into the same boat as our reckless punter. Placing a bet when the odds are terrible. In fact, for every trade you make you risk losing all of your money… and that’s exactly what happens up to 80% of the time. And it gets worse… Some websites and apps that offer binary options don’t even have a licence.

That’s against the law. Punter: That sounds like a scam! Commentator: Binary options may sound like an instant payday… But lets be clear: It’s no gold mine. It’s a gamble. For more information, visit moneysmart.gov.au. .

Binary options promise high returns, quickly. But the reality is you’re more likely to lose your entire investment. To make sure you don’t end up like our reckless punter, visit: https://www.moneysmart.gov.au/investing/complex-investments/futures-and-options/binary-options

TRANSCRIPT:
Commentator: Would you bet everything you have on a long shot? You might win big… but, you might lose it all.

That brings us to the financial buzzword that’s all the rage these days: Binary options.

Punter: Ummm, that’s actually two words.

Commentator: Yeahhhh… and you just lost all your money so maybe just go home.

So we get it. Binary options certainly sound enticing.

I mean whose ears wouldn’t prick up at this idea of 70 – even 80% – profit in just minutes?

When all you have to do – supposedly – is guess whether an asset, index or commodity will reach a certain price at a certain time.

See… truth is… it puts you into the same boat as our reckless punter. Placing a bet when the odds are terrible.

In fact, for every trade you make you risk losing all of your money… and that’s exactly what happens up to 80% of the time.

And it gets worse…

Some websites and apps that offer binary options don’t even have a licence. That’s against the law.

Punter: That sounds like a scam!

Commentator: Binary options may sound like an instant payday… But lets be clear: It’s no gold mine. It’s a gamble.

For more information, visit moneysmart.gov.au.

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