"Like going to the casino" - ASIC moves to ban risky binary options and to restrict CFDs. I speak with ASIC commissioners Cathie Armour.

The Australian Securities & Investments Commission is moving to ban two complex financial products where 80 percent of the time mum and dad investors end up losing. 

Binary options are legitimately offered to consumers as "all or nothing" bets but experts say it's like going to the casino where the house almost always wins. 

Read the ASIC consultation here

In addition to binary options, ASIC wants to ban CFDs - another exotic product where investors bet on movements in a share price even though the odds are stacked against them. 

ASIC commissioner Cathie Armour speaks with ABC's Peter Ryan.