Mastercard VS Binary Options – Canada
In Canada we are hearing that Mastercard has decided to try and filter out any transactions that are deposits from investors into binary options broker accounts.
The Canadian regulators are not doing a good job at regulating the binary options market and seem to be trying to leave the job of cleaning up the mess, to the credit card industry, instead of actually regulating the binary options market.
Real regulation can clean up the scene in no time and start a real licensed and regulated binary options market, instead of the wild west situation we have now going on in Canada.
Also, as reported by FinanceMagnates on friday: one of the Canadian regulators – The Nova Scotia Securities Commission (NSSC) – has posted a warning on their website about Magnum Options “which operates via the url www.magnumoptions.eu and is owned and operated by Hampshire Capital Ventures Ltd, UK, lists a further Bulgarian-based business address on its website. The brokerage is also known to have used the url www.magnumoptions.com but neither of these entities are registered to sell securities in Nova Scotia”.
- See the bigger picture on our post from earlier this month:
Canadian Regulators Don’t Regulate, They Only Post Warnings – read more here.
- Japanese regulators are pretty much doing the exact same thing:
Japanese Regulator – Also Only Posting Warnings Instead of Actually Regulating – read more here.
In Israel the ISA (Israeli regulator) is doing a good job. Partially.
We are a bit disappointed by Israel as many brokerages are owned by Israeli businessmen but Israeli regulators have yet to show the way in paving real regulation of the market.
The decision to ban binary options altogether to the local Israeli investors pool is a poor decision that will end up lengthening the real solution – that is real licensing and regulation of brokers.
- Binary Options Ban
- ISRAEL: Trading Arenas Union, Israel Securities Authority and Binary Options Ban – What is Going on in Israel?
Also reported by a few online news outlets on Friday, it seems that French regulator AMF is looking into improving their former decision to ban “all promotional (advertising) communication from investment services providers to unprofessional clients regarding investment services for financial contracts which are not traded on a regulated market or through a multilateral trading system and whose maximum risk is unknown at the time of purchase, or for which the risk of loss is higher than the size of the initial investment or when the potential risks are not clearly understood in the context of eventual corresponding benefits.”
The update will “describe in detail the exact types of electronic advertising and instruments covered by the ban“. If you don’t remember, in the past months many European countries have either banned binary options all together or banned the advertising of binary options in their country.
That’s it for our current update, we will keep you posted.
To our readers:
Want to contact us and send us a tip or an article or review regarding binary options regulations?
Contact us at firstname.lastname@example.org – and have a great week!