The regulator of the French financiers markets (the AMF – the Financial Markets Authority) has updated its black list of binary options brokers published on its official website. Given that binary options are a simple way to earn money online, these products have been attracting more and more individuals who are looking to supplement their income or to generate income in its own right. In response, many foreign companies that usually have no authorization claim to be authorized binary options brokers (when they are not) and illegally offer their services. These unauthorized brokers represent a real danger for binary options traders who have sometimes been subject to binary options scams or fraudulent practices. Nevertheless, it is better to listen to the financial authorities and avoid at all costs to resort to brokers listed on the infamous black list of the AMF.
Because the binary options brokers included in the above list have not been approved by the Financial Markets Authority due to a lack of authorization on behalf of the French financial authorities, they are not allowed to offer their services to French traders. Thus, it is recommended to avoid such brokers.
Choosing a regulated binary options broker is the most sensible choice a person can make when initiating one’s career as a trader. Regulated brokers are brokers that have received authorizations and licenses from the national and international financial regulators. For example, the most regulated binary options brokers within this industry belong to the “Safecap Investment Ltd.” company; these brokers are 24winner, OptionTime and TopOption that have licenses from the AMF (France), the BaFin (Germany), the CNMV (Spain), the CONSOB (Italy), the FCA (United Kingdom) or the CySEC (Cyprus – (EU).
Having obtained the various licenses from different financial regulators reflects these brokers’ serious image and the quality of their services. Since the practices of regulated brokers are recognized by the financial authorities and thus comply with local financial regulations, these brokers can legally and freely offer their services to traders. Also note that because the regulated brokers have relationships with other large recognized and reputable banking institutions, they have a strict policy to protect traders’ funds wherein traders’s money is kept separate from the company’s money on segregated bank accounts. This allows the broker, among other things, to be solvent and pay traders irrespective of the financial situation of the parent company to which they belong.
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