Binary options are often the subject of debate among investors, some of who consider this type of investment as too speculative, or think about binary options scams when talking about this topic. That’s obviously why the AMF is currently targeting binary options trading. Nobody expected that the regulator would make such strict decisions for this type of investment, however it seems that they are about to forbid binary options trading in Fance as well as its promotion on internet.
The french regulator AMF (Autorité des Marchés Financiers : Financial Markets Authority) recently decided to ban binary options trading ads on the internet as well as forex trading ads. The prohibition imposed by the AMF may not be a ban on trading entirely but limited to certain behaviour which will be communicated by the AMF . After the 30th of September 2016, the AMF will start making stricter decisions and start prohibiting financial products which it considers to be too speculative. We can deduce that this prohibition could also be placed on the forex and binary options markets.
At the moment we don’t have much information about the prohibition of binary options in France, but we can expect that the aim of the french regulator is to warn the binary options industry. The ban on binary options ads on the internet, on the radio, on the tv and in the paper, might become a reality in France.
The AMF announcement hasn’t affected many victims yet. In fact, the binary options broker 24Option is the only one that the prohibition of promoting binary options in France has had an impact on. This excellent broker is often considered the best binary options broker within the trading industry. But according to Demetra Kalogerou, president of the CySEC, the decision of the french authority to prevent 24Option from advertising is as a result of receiving “1 complaint out of 10,000 customers”. We know that similar to the CySEC, the AMF is a strict regulator who likes to set an example for bad behaviour so we can deduce that this complaint can explain the anger of the AMF, but the decision of the french regulator seems to be a bit harsh from many peoples point of view.
Practicing binary options trading using an authorized binary options broker is very important. The registered brokers, compared to brokers who don’t own licences of financial authorities or regulators, have a really good reputation among traders because they received, inter alia, the green light from financial regulators and because their activities respect the local financial laws.
24Option is an excellent binary options broker, regulated by the CySEC and registered at numerous financial regulators within the EU. However, if as a french trader you prefer to wait until the issue with the AMF gets resolved, you can open an account on another brokers website. There are a lot of brokers registered with financial authorities, like TopOption or OptionWeb, registered with the AMF and the CySEC. Whatever broker you choose to practice binary options with, double check that they conform to european financial laws to avoid any problems and to avoid getting scammed by prohibited binary options brokers who don’t own any authorisations or licenses.
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