Thats when I got suspicious and started checking up on these guys. I guess the old addage if it sounds too good to be true, it probably is. Im going to immediately ask for a refund.Heres a question for you. After saying no thanks to the up grade of their fully automated system, they offered a 50 discount and after I said no thanks again they offered more discounts. Again how do you discount a hosting fee I finaly got through to their discount page and then I was prompted to create a Spotfn Trading Account. I scanned down the rest of the web page to find theywanted me to link the trading account with an existing trading account or bank account, which I did not do.In Australia, trading binary options has become very popular. Many Australians are seeking an ASIC registered binary options broker, instead of a broker solely regulated in Cyprus by CySEC. The good news is that there are currently brokers available for residents of Australia.The ASIC Australian Securities and Investments Commission is the regulatory agency responsible for regulating binary option brokers. Many Australians trade with unlicensed brokers or with brokers that are licensed in Europe by the EU. There are a few brokers who actually licensed by ASIC.ASIC Commissioner Cathie Armour said, ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence or is authorised by an Australian financial services licensee and regulated by ASIC.TopOption is owned by ASIC registered Safecap. TopOption is by far the largest binary options broker worldwide. They currently use the SpotOption platform and you can read more about their licenses here. Get an exclusive bonus offer here. Open your account with 500, and receive free trading signals, see here.The binary options industry started in England back in 2008, and the European Union was the first financial regulatory body to regulate binary option brokers. Many brokers do not see Australia as a very large market and since the demand for Australia regulated brokers has not increased there are only a few ASIC registered brokers to choose from.Binary options are a simple way to trade price fluctuations in multiple global markets, but a trader needs to understand the risks and rewards of these often-misunderstood instruments. Binary options are different from traditional options. If traded, one will find these options have different payouts, fees and risks, not to mention an entirely different liquidity structure and investment process. (For related reading, see: A Guide To Trading Binary Options In The U.S.)Binary options traded outside the U.S. are also typically structured differently than binaries available on U.S. exchanges. When considering speculating or hedging, binary options are an alternative, but only if the trader fully understands the two potential outcomes of these exotic options. In June 2013, the U.S. Securities and Exchange Commission warned investors about the potential risks of investing in binary options and charged a Cyprus-based company with selling them illegally to U.S. investors.Binary options are classed as exotic options, yet binaries are extremely simple to use and understand functionally. The most common binary option is a high-low option. Providing access to stocks, indices, commodities and foreign exchange, a high-low binary option is also called a fixed-return option. This is because the option has an expiry date/time and also what is called a strike price. If a trader wagers correctly on the markets direction and the price at the time of expiry is on the correct side of the strike price, the trader is paid a fixed return regardless of how much the instrument moved. A trader who wagers incorrectly on the markets direction loses her/his investment.If a trader believes the market is rising, she/he would purchase a call. If the trader believes the market is falling, she/he would buy a put. For a call to make money, the price must be above the strike price at the expiry time. For a put to make money, the price must be below the strike price at the expiry time. The strike price, expiry, payout and risk are all disclosed at the trades outset. For most high-low binary options outside the U.S., the strike price is the current price or rate of the underlying financial product, such as the SampP 500 index, EUR/USD currency pair or a particular stock. Therefore, the trader is wagering whether the future price at expiry will be higher or lower than the current price.Binary options outside the U.S. typically have a fixed payout and risk, and are offered by individual brokers, not on an exchange. These brokers make their money from the percentage discrepancy between what they pay out on winning trades and what they collect from losing trades. While there are exceptions, these binary options are meant to be held until expiry in an all or nothing payout structure. Most foreign binary options brokers are not legally allowed to solicit U.S. residents for trading purposes, unless that broker is registered with a U.S. regulatory body such as the SEC or Commodities Futures Trading Commission.Starting in 2008, some options exchanges such as the Chicago Board Options Exchange (CBOE) began listing binary options for U.S. residents. The SEC regulates the CBOE, which offers investors increased protection compared to over-the-counter markets. Nadex is also a binary options exchange in the U.S., subject to oversight by the CFTC. These options can be traded at any time at a rate based on market forces. The rate fluctuates between one and 100 based on the probability of an option finishing in or out of the money. At all times there is full transparency, so a trader can exit with the profit or loss they see on their screen in each moment. They can also enter at any time as the rate fluctuates, thus being able to make trades based on varying risk-to-reward scenarios. The maximum gain and loss is still known if the trader decides to hold until expiry. Since these options trade through an exchange, each trade requires a willing buyer and seller.