Binary Options Broker News And Industry Updates

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Binary Options Broker News And Industry Updates

Regulators And Regulation Alters Binary Options Landscape

All traders should deal only with trusted binary options brokers that are regulated, but regulation has long been a sticking point for binary options. The industry came to life in the nether regions of the internet where classification and jurisdiction were iffy and brokers were able to operate with impunity. Thankfully that has been changing over the past few years as global regulators take up the mantle of oversight but problems still exist. Many brokers continue to operate outside the bounds of regulation, some legit and some not, making it hard for the average trader to know who to trade with. To combat these issues regulators have created watch lists and issue warnings on a regular basis.

Regulator Watch Lists Get Longer

The two most prolific issuers of warnings are the British Columbia Securities Commission, BCSC, and France’s AMF, Autorite des Marches Financiers. Between the two they have issued hundreds of warnings, the only problem is that they are only aimed at brokers operating in their respective countries illegally and often times list brokers regulated in other parts of the world. The most recent warning from the BCSC, one of Canada’s 13 provincial regulators, was against CentralOption, a SpotOption based broker that is not regulated in any jurisdiction.

According to the CSA, the Canadian Securities Commission, no binary options broker is licensed to offer services in the country but that is not stopping a host of off-shore brokers from accepting Canadian clients. The caveat is that many of the brokers accepting Canadian clients are in fact trustworthy brokers, they just aren’t regulated in Canada.

The French AMF’s Black List is the longest watch list of any, adding 16 new names in June. Along with the warnings is an additional statement which says that the list is not comprehensive, new unauthorized brokers pop up regularly and even those who have been warned against may change their names and websites in order to evade the warnings. The focus of the AMF black list is a bit different from that of the one in Canada as there are regulated brokers operating in the EU and France. This list is targeted at the non-CySEC regulated brokers.

A similar situation is arising in Australia. The Australian regulator ASIC has recently taken up oversight of binary options, legal in the country, with the intention of blocking unregulated brokers from operating there. According to ASIC binary options are classified as a derivative trading vehicle, just like CySEC, and must hold an AFS (Australian Financial Services) license. In their latest warning 8 brokers were added to the watch-list including BossCapital, OptionsXO and other brokers not recommended by BinaryOptions.net. Click here for our list of recommended brokers.

CySEC Suspends License

In other news CySEC has been proactively addressing issues from brokers who fall under their sphere of influence. The latest action is against Air Finance Pro, operator of several popular binary options brands including BuzzTrade. The suspension is due to alleged infractions and non-compliance with reporting requirements that are seen as harmful or potentially harmful to the interests of its clients. Other brands affected include Uptrade7, CFD Royal and Investing Area. The initial suspension is for one month pending further action by the regulator should Air Finance Pro not comply with existing regulation. What this means for Air Finance Pro is that it cannot accept new clients, cannot engage in new trades from existing clients and it may have to return all funds and profits currently held in accounts for existing clients.

In the statement CySEC said this; The aforementioned alleged violations may possibly endanger the Company’s clients’ interests or the investor interests or generally the regular operation of the capital market as the Company has not been compliant with its reporting/filing obligation towards CySEC.”

Potential fall-out from the decision, aside from a loss of business and damage to the reputation is a sponsorship deal with Portuguese football club Porto. There is no comment yet from Porto.

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What This Means For Traders

Binary options will continue to be available over the internet so the responsibility of choosing a good broker lies where it always has, with the traders. What this means for traders is that they must stay abreast of regulation in their own countries as well as in other parts of the world. The best course of action is to find a broker regulated in your country or in a country friendly with yours, if that is not possible then choosing a respected and trusted broker comes down to research and recommendations from other traders. The best place to find these is in a forum dedicated to the subject such as the one here on BinaryOptions.net. Read posts, ask questions and never ever blindly trust what a broker or their salesmen may tell you.

Click here to go directly to the Binary Options Broker Discussions in our forum.

Binary Options Industry Update: Signals, Signals and Regulators

Reviewing some of the events in the binary options industry as of late, we are seeing two trends take place;

Reviewing some of the events in the binary options industry as of late, we are seeing two trends take place; increase of trading signals and regulators taking a closer look at the industry. In terms of trading signals, as they focus on directional moves, they are a natural product for the duration-based binary option market. Currently, signals are being offered to clients via subscription marketplaces where traders can choose which signals to follow, and connect them to participating brokers. In addition, brokers are partnering with providers to create their own branded signal product.

Algo Alerts Launches New Website

Currently partnered with binary options broker Trading247, Algo Alerts offers hourly trade signals to subscribers via a proprietary widget, SMS, and email. Launched in June of this year, the site partnered with analytics provider Faunus Analytics to distribute trading signals. The site and product have recently been updated with email and SMS alerts distribution being added. Signals are provided on a monthly subscription basis, and according to Algo Alerts are also available to be offered for free through broker partners.

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SetOption Launches Faunus Signals As Well

Also tapping Faunus Analytics for their trading signal needs is SetOption. The binary options broker announced this week that they will be offering signals that are powered by Faunus to their customers. The deal is similar to a partnership between Faunus and iOption that was announced earlier this year. Commenting to Forex Magnates, Pavel Bykov, Chief Development Officer at Faunus Analytics said that they are seeing interest among brokers to offer signals due to, “increased trading volumes by offering signals to clients, client retention, and our partnered binary brokers are creating a grade system, where traders can upgrade their account to receive more and better signals.”

Binary Options Broker Under Regulator Fire

Earlier this month, Cypriot financial regulator, CySec, announced a warning against NRG Binary that it isn’t a licensed firm. Although headquartered in Cyprus, the broker was unregulated in the country. The warning follows a trend among global financial regulators this year, where they have been issuing statements in regards to unregulated brokers doing business in their jurisdictions. Examples include the ever expanding list of unauthorized brokers from the French Autorité des Marchés Financiers (AMF) which was updated in August, the SEC’s warning to Banc de Binary in June, and September’s listing from the British Columbia Securities Commission (BCSC) about GOptions, TradeRush, and 24option. Using internet viewer statistics and reviewing ads in search advertising, regulators are easily able to evaluate whether firms are marketing illegally in their jurisdictions. However, barring a few individual cases, there has been very little punitive punishment handed down.

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In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

Outside the EU, financial products are offered by Binary (SVG) LLC, Hinds Building, Kingstown, St. Vincent and the Grenadines; Binary (V) Ltd, Govant Building, Port Vila, PO Box 1276, Vanuatu, regulated by the Vanuatu Financial Services Commission (view licence); Binary (BVI) Ltd, Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands, regulated by the British Virgin Islands Financial Services Commission (licence no. SIBA/L/18/1114); and Binary (FX) Ltd., Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Labuan, Malaysia, regulated by the Labuan Financial Services Authority to carry on a money-broking business (licence no. MB/18/0024).

This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, Japan, or to persons under age 18.

The products offered via this website include binary options, contracts for difference (“CFDs”) and other complex derivatives. Trading binary options may not be suitable for everyone. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on this website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved and learn about Responsible Trading.

In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, licensed and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

In the Isle of Man and the UK, Synthetic Indices are offered by Binary (IOM) Ltd., First Floor, Millennium House, Victoria Road, Douglas, IM2 4RW, Isle of Man, British Isles; licensed and regulated respectively by (1) the Gambling Supervision Commission in the Isle of Man (current licence issued on 31 August 2020) and by (2) the Gambling Commission in the UK (licence reference no: 39172).

In the rest of the EU, Synthetic Indices are offered by Binary (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta; licensed and regulated by (1) the Malta Gaming Authority in Malta (licence no. MGA/B2C/102/2000 issued on 01 August 2020), for UK clients by (2) the UK Gambling Commission (licence reference no: 39495), and for Irish clients by (3) the Revenue Commissioners in Ireland (Remote Bookmaker’s Licence no. 1010285 issued on 1 July 2020). View complete Regulatory Information.

Binary.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs. Trading binary options and CFDs on Synthetic Indices is classified as a gambling activity. Remember that gambling can be addictive – please play responsibly. Learn more about Responsible Trading. Some products are not available in all countries. This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, or to persons under age 18.

Trading binary options may not be suitable for everyone, so please ensure that you fully understand the risks involved. Your losses can exceed your initial deposit and you do not own or have any interest in the underlying asset.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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