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Reuters
Reuters
Business

Australian securities regulator bans sale of binary options to retail clients

Australia's securities regulator said on Thursday it has banned the sale of binary options to retail clients, after it realised that trading in these options significantly hurt them.

The Australian Securities and Investments Commission (ASIC) said in a statement that its reviews in 2017 and 2019 showed that about 80% of retail clients lost money trading binary options.

($1 = 1.3180 Australian dollars)

(Reporting by Rashmi Ashok in Bengaluru, Editing by Sherry Jacob-Phillips)

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