Regulated or Unregulated broker?
As we already stated if a broker is not regulated, it doesn’t mean it’s a bad broker waiting to scam the traders. The main task of Fair Binary Options is to recommend brokers that respect their clients and their money, whether regulated or not. Our main criteria are the quality of service and customer relations, and unfortunately, there have been cases when regulated brokers behaved unethically, and were blacklisted. Find more about this binary options scam.
Definition of Binary Options
As already stated above, every country or market area has a regulatory body for binary options trading. How they treat and define binary options varies from country to country. Some see them see binary options as financial services, like AMF in France, or betting, like CONSOB in Italy. Definition of binary options in your country of residence is of great importance, as it defines laws and directions that apply as well.
Binary Options Regulation in EU, USA, Australia and New Zealand
There are many regulatory bodies, as almost every country has its own agency. The most important one and the most famous one is CySEC from Cyprus, and most regulated brokers operating in the EU have CySEC license. Many think of it as of pioneer in regulations and best role model in binary options regulating. Another important regulatory body is CFTC, as it regulates US market that has a specific set of rules, quite different from European ones. There are also AMF (France), CONSOB (Italy), IIROC (Canada), FSC (Virgin Islands), ASIC (Australia), FMA (New Zealand), FCA (United Kingdom) and many more. Learn about binary options regulation.
In many countries, binary options are considered a grey area. It can because the government is not sure how to define them or simply because the slow political processes are not informed about the new trends in financial and trading industry and are not aware that binary options even exist. It is important to know that in most countries binary options are not illegal and that they can be traded safely. More about the legality of binary options .
Advantages of Regulated Brokers
As already mentioned, not all regulated brokers are good brokers, but the brokers available on our Regulated Brokers list are worthy of your time and money. One of the best characteristics of regulated brokers is that they must carefully follow regulations of a certain country. Traders who trade with them can, in case any problem occurs, contact not only the customer support but the regulatory body as well, especially if they doubt that their broker is not doing business in an ethical manner.
Transparency & Protection
Regulated brokers offer maximum transparency when it comes to depositing and withdrawing money, and clear and easy understandable terms and conditions. High-security standards for the protection of personal data are provided as well. Trading with a regulated broker from our Regulated Brokers list will lower the chances for any inconveniences. For all traders who are looking a good regulated broker, we suggest trying 24option that won FBO Best Regulated Broker Award 2015.
When it comes to placing complaints with our Regulated Brokers, the entire process is easy and quick, as they are obligated to follow rules provided by their regulatory body, but our strict criteria as well. We placed only the most reliable regulated brokers in our list in order to keep our readers safe. In case, you used our services for registering with the broker and experienced any suspicious behavior, feel free to contact us.