A lot of traders are able to earn money everyday, thanks to binary options, but this type of investment also has a dark side – binary options scams. Millions are stolen every year from traders by these scams. Figures are increasing and the quantity of brokers listed in the AMF listing proves it… It’s hard to say exactly what the final figure is but it probably represents several million euro that is stolen by scammers. Even if the belgian financial regulator can’t provide an east figure, it made a radical decision that should protect its country against this disease : ban binary options trading.
Belgium did it ! It’s the first european country to forbid binary options trading inside its territory. Its also the third country in the world to do so, after the USA and Israël.
The FSMA announced that from the 18th of August 2016, forex trading, binary options trading and CFD ones will be banned. The local regulator declared that these products were too risky and that the marketing surrounding them was too aggressive, and then decided to ban them in the territory. The goal of banning binary options (and the other financial products) is to contribute to better protection of customers of financial products. Binary options don’t have a market in Belgium anymore, all regulated brokers will stop their activity in that country without complaint but for the unregulated ones, it’s not that sure.
The Belgium case is isolated (at the moment) as all the other european countries still allow traders to practice binary options trading and haven’t banned this type of trading. However the french regulator (AMF) recently cracked down on trading, in a previous article we explained that binary options were being targetted by the AMF and that the AMF was considering banning binary options trading ads and marketing activities. To conclude, at the moment Belgium is the only country that has banned binary options. If you live in an other european country, you don’t have to worry and you can keep trading with a binary options broker who is authorised in your country.
Nowadays, when we mention serious binary options brokers, we automatically refer to regualted ones, also referred to as authorized binary options brokers or registered brokers. These binary options brokers have been approved by financial regulators, they are generally registered with numerous financial authorities and the majority of the companies to which they belong own licences of the CySEC (Cyprus regulator) or other regulation institutions. In other words, when you are a customer of one of these brokers, you are protected from binary options scams and you can speculate on a good and reliable platform. That’s why it’s strongly advised against using an unregulated broker and to favour authorised ones, with whom you won’t face any unpleasant trading experiences.
The “regulated” binary options brokers are numerous in the trading industry. You can take for example the brokers 24Option (regulated CySEC and registered to other authorities), TopOption or AnyOption. The companies to which they belong run activities that conform with european financial laws, and their registration to financial regulators provide them with a good reputation among local investors. These binary options brokers are safe and a good choice when you want to start binary options trading, so don’t make the mistake of choosing the wrong broker.
In addition, opening a binary options account on one of the brokers’s websites which we mention in this article will grant you with a bonus on your first deposit. This bonus is “negociated”, it means that you usually don’t have it if you don’t register through the links on our platform. For example, opening an account on 24Option will earn you a bonus of 100% (instead of 20% for the other new customers) on your first deposit. The BonusBinaryOptions.net guarantee is also an advantage that you will benefit with when opening an account on the platform of a broker using one of the links on our website.