Binary options trading is a simple way of trading where traders just need to make a bet on one of two possible outcomes. Just as with social trading, binary options trading platforms have also incorporated elements from gaming that have made them extremely easy to use. Although binary options are unleveraged, the same brokers may actually offer high leverage, but only on ordinary forex and CFD trading.
Due to a regulatory tightening around binary options trading, there are a lot fewer brokers offering this type of trading today than a few years ago. The European Securities and Markets Authority (ESMA) has also placed a ban on binary options brokers, which means that EU-based traders looking for high leverage forex brokers with binary platforms now need to look to other countries, such as Australia, to find one they can trade with.