Binary options promise quick, high returns if you pick the correct price movement. The reality is, if the price doesn’t move in the direction you chose, you’ll lose 100% of your investment. An ASIC review found up to 80% of binary option investors lost money.

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ASIC also found that binary options are likely to result in cumulative losses to retail clients over time because of the product’s characteristics:

the ‘all or nothing’ payoff structure, where one of the two possible outcomes for a binary option contract is that the retail client will lose their entire investment
short contract duration (the average contract duration of binary options traded with one provider was less than six minutes)
negative expected returns (that is, the present value of the expected payoff for a binary option contract is lower than the initial amount invested).

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