Binary Options Trading in Austria
Austria is known to be a very rich and stable country with a strong and established democratic system, very low crime rate, an established rule of law, and high transparency within financial markets. The country serves as a preferable haven for investors of all sorts. Is this the case for binary options traders as well? Let’s find out.
Binary options trading proves to be a thriving investment opportunity for Austrian investors. With the countries high level of transparency and well established regulatory powers, the trading of binary options here is a welcomed and safe investment practice. With the regulatory power of Austria looking out for investors, they can feel a certain level of security while trading binary options in Austria compared to many other countries with less competent regulations.
Since Austria is quite open to accepting binary options trading as a financial instrument, it has gained tremendous popularity in recent years. Traders here have plenty of regulated brokers to choose from, resulting in a healthy binary options market. All this being said, binary options trading in Austria is legal and regulated to an extent.
Recommended Binary Brokers in Austria
Currency Pairs & Spread
Since Austria is apart of the European Union, the most common currency pairs traded tend to be the same as other European countries. The most common currency pairs are ‘Majors’ and they include: EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF, AUD/USD, NZD/USD. These currency pairs have the tightest spreads due to the frequent trade volume.
Although these are the most popular currency pairs, another very popular category of currency pairs in Austria are called ‘Crosses’. These popular currency pairs for Austrian traders include; EUR/GBP, EUR/CHF, EUR/CAD, EUR/AUD, EUR/NZD, EUR/JPY and generally have slightly higher spreads than the ‘Majors’.
For Austrian traders looking to trade more exotic pairs, the Euro/Turkish Lira is popular among the ‘Exotic’ category of currency pairs.
Trading Platforms
Austria has numerous regulated binary options platforms to choose from. Most of them are from other countries but have been approved by the Austrian regulatory authority, Financial Market Authority (FMA). All the platforms used in Austria must be licensed by a regulatory authority to be legally operated in Austria. Since Austria is a European member state, investors can freely use any trading platforms offered by other European countries.
One of the most common and reputable trading platforms among binary options traders in Austria is IQ Option. This platform is proven to be top of the line with many awards and praise from investors world-wide.
Bonuses
Bonuses are not something new to binary options. This is the case for Austrian brokerages as well. There are various bonuses that companies offer their clients, enticing them into signing up, making more deposits, or simply to keep them trading with their platform. Some of the most common types of bonuses are as follows:
- Welcome Bonus – This is the most common type of bonus, usually receiving an amount of money just for joining a brokerage and making an initial deposit.
- No Deposit Bonus – Another bonus, like the welcome bonus, rewards you with money just for signing up and doesn’t even require a deposit.
- Mobile Bonuses – This is a bonus for downloading a brokerages mobile application and using it.
- Refer a Friend Bonus – Receive money for getting a friend to sign up, they may be required to make an initial deposit.
There are a wide variety and different variations of these bonuses, but they always result in the trader saving or gaining some money for trading on the platform.
Deposit and Withdrawal Options
Today, there are numerous ways to deposit and withdrawal money. You can be paid from anywhere in the world at any time with various methods. Austrian brokerages are no exception to this, accepting many forms of deposit and withdrawal methods. The most common methods include:
- Bank Wire Transfers – Most anyone from anywhere in the world can complete a bank wire transfer. There are no restrictions with the use of bank wire transactions. This method proves to be very popular among Austrian investors.
- Credit Card – This option proves to be quite simple for investors, and is widely accepted in Austria. There is a high percentage of trust using credit cards for deposits and withdrawals in Austria. As well, many Austrian investors prefer to use a debit-visa card.
- Securities Transfers – An option available for those who intend on making very large deposits or withdrawals. It depends on the account type and the minimum deposit amount.
- E-Wallet Providers – Another popular method among Austrian investors. Popular online money transfer options in Austria include; PayPal, Neteller, Skrill, and a Sweden payment processor company called Klarna.
Legality & Regulations
The trading of binary options is legal in Austria and has competent regulations put in place to help ensure the safety of Austrian investors. The regulatory authority of financial markets in Austria is the Financial Market Authority (FMA). This supervisory authority was established in 2002 and has been actively integrated in Austria’s financial markets since then. They strive to provide Austrian investors with the utmost protection by providing warnings and alerts of fraudulent companies. They also impose strict regulations on reputable binary option companies to be operated in Austria.
The FMA requires that every foreign binary options broker is licenced and registered in order to offer their investment services in Austria. By doing this they help to ensure safe and secure investment practices for Austrian traders.
FAQ
- Are binary options legal in Austria?
Yes, the trading of binary options is legal in Austria.
- Are binary options regulated in Austria?
Certain aspects of binary options are regulated, but there is a lot of grey areas. Thus, making it somewhat unregulated like in most of Europe.
- How can I trade binary options in Austria?
First, you must open an account with an investment firm offering binary options trading. Though, the company must be authorized to conduct business in Austria by the FMA. Once that is determined, it is quite simple, and can be done online in a few simple steps. Some companies do not even require a deposit to start trading.
Best Brokers in Austria
There are numerous brokers to choose from if you’re an Austrian binary options trader. Some popular ones among investors in Austria include: IQ Option, and Finrally. Both these brokers offer Austrian investors plenty of flexible options when it comes to withdrawal and deposit methods, as well as superior and intuitive trading platforms.
Conclusion
This article has attempted to shine light on the trading of binary options in Austria. We have overviewed the extent of which binary options trading is done in Austria. We have established and explored Austrian investors options when participating in this lucrative investment route. As well, we have looked in too the legality and regulations pertaining to binary options trading. All in all, Austrian investors have plenty of options and support when trading binary options.