Providers of binary options and forex products
Retrieved 5 September In AugustBelgium's Financial Services and Markets Authority banned binary options schemes, based on concerns about widespread fraud. Pape observed that binary options are poor from a gambling standpoint as well because of the excessive "house edge". On May 15,Eliran Saada, the owner of Express Target Marketingwhich has operated the binary options companies InsideOption providers of binary options and forex products SecuredOptions, was arrested on suspicion of fraud, false accounting, forgery, extortionand blackmail.
Gordon Papewriting in Forbes. Other binary options operations were violating requirements to register with regulators. The FCA in did propose bringing binary options under its jurisdiction and restricting them.
Credit card issuers will be informed of the fraudulent nature of much of the industry, which could possibly allow victims to receive a chargebackor refund, of fraudulently obtained money. The two agencies said that they had received numerous complaints of fraud about binary options trading sites, "including refusal to credit customer accounts or reimburse funds to customers; identity theft ; and manipulation of software to generate losing trades". Articles prone to spam from January Articles containing potentially dated statements from September All articles containing potentially dated statements All articles with links needing disambiguation Articles with links needing disambiguation from February Retrieved September 20, Pape observed that binary options are poor from a providers of binary options and forex products standpoint as well because of the excessive "house edge".
Retrieved March 4, The effect is that binary options platforms operating in Cyprus, where many of the platforms are now based, would have to be CySEC regulated within six months of the date of the announcement. In August Israeli police superintendent Rafi Biton said that the binary trading industry had "turned into a monster". Retrieved June 19,
Retrieved March 29, No firms are registered in Canada to offer or sell binary options, so no binary options trading is currently allowed. The ban was extended to overseas clients as well in October