The Global Crackdown
The recent binary options ban in countries such as France and the global regulator crackdown which has included over 20 regulators from at least 10 countries has brought reputable licensed and regulated binary options brokers to block entire countries from using their websites out of fear that a client from USA, Canada, France, Israel, United Kingdom, South Africa and a handful of other countries might try to sign up to trade binary options and ultimately lead to the broker being added to a regulator warning list.
Countries where binary options have been banned are blocked on most of the reputable websites but not on all of them. Countries that only handed a license to a very small number of brokers are also being blocked on major reputable binary options trading hubs. It’s simple to analyse why a certain broker blocks a certain country from accessing their website but what we have also been seeing is that the reputable brokers in the USA such as NADEX actually are not blocking countries from accessing their website. This means that NADEX, being regulated by the CFTC is probably accepting clients from countries where binary options are banned.
On the other hand we are seeing reputable European brokers blocking traffic from a large number of countries to do regulatory issues. We can only speculate on why this is happening. Why is the USA not blocking Europe while cracking down on European brokers while Europe is blocking USA and Canada while also cracking down on itself? Is the USA better than Europe? Is the USA trying to steal all of the binary options market wealth and keep it all to themselves?
USA Binary Options “Exchanges”
The USA SEC and CFTC have been relentlessly bashing each and every European regulated broker that they have come by. Canada has been doing the same. Almost none of the European regulated brokers have been “passed over” and the warnings on USA and Canadian regulator websites just keep coming in, is it just a coincidence that many of these warnings are about reputable licensed and regulated European brokers?
At the same time, in the USA – the new Binary Options Exchanges have been growing in numbers and include big players such as NADEX, CANTOR and the soon to be BINAREX. In Europe DAWEDA has also sprouted up in these times of global crackdown. The Binary Options Exchange phase has mostly happened in the USA and these might just be coincidences but there is probably a reason why the European regulators have not ever said a word about any USA regulated broker and only cracks-down on brokers from its own territories.
The USA Makes War Outside Its Borders While Europe Fights Among-st Itself
It seems like not much has changed since world wars 1 and 2. Canada does nothing (but post warnings), the wolves eat France, America plays the globe like a chess game where she is our Queen and King, gives out fines to the wolves and convicts them as criminals, while boosting its own economy on the way. The United Kingdom (FCA) joins in with the USA [memorandum of understanding]. Europe gets bombed to dust. Fights among-st itself. We have a new player now – Israel – where binary options are banned (out of fear from the big brother USA) and where brokers continue to play both sides of the board by marketing binary options abroad (sneaky Jews? Just kidding!) and in this whole picture what is really happening?
Consumers Continue To Get F*cked
While the world plays it’s normal games on a repeating track and no regulators other than CySEC step in to regulate their OWN countries, the unregulated fraudsters and scammers will continue to steal money because the void has not been filled with STRONGER regulation techniques. Countries that have stepped up and regulated their own markets without making too much of a fuss about other countries like ASIC in Australia have successfully filled the void by strongly regulating the markets and introducing licensed brokers such as VantageFX and HighLow into the scene. Although Australias ASIC is still a little bit on the USA side and bashing a few of the European brokers.
Countries that ban binary options are making things worse. The void gets filled with crooks pretty fast. Countries like the USA, Canada and Australia that bash on everyone but theme-selves or don’t even regulate the market such as Canada, must be doing so because of their own agenda and not because they actually care about the consumers. Consumers are the only ones getting hurt. Europe as always seems to be stuck in 1940 and most of the consumers that are getting screwed over due to lack of regulation are Europeans. Europe will keep fighting among-st itself and turning to useless banning of the binary options market while making things worse for its own consumers.
The USA is doing the exact opposite, bashing countries abroad, doing a good job with regulation, saving their local consumers from scams and boosting their own economy while fighting the bad guys in Europe.
So Who are The Winners and Who are the Losers Here?
The consumer is the number one looser. The victim. These worldwide regulators need to step up and regulate the binary options market in their OWN countries and fill the voids with strongly regulated licensed brokers. Easy as that. CySEC from Cyprus in Europe is winner number one in this story, they are actually regulating their own brokers and not bashing at licensed brokers from other Countries. Looser number two is Israel that is making itself look like a really big foolish shame by banning binary options and letting money hungry and indecent Israeli owned brokerages do whatever they want without any chance of strong regulation due to the ban. Winner number two is the USA which as always known how to protect itself, make money, fight the good fight, they make it look easy and they never take the victims role, ever.
So world war 3 may be happening already, in the virtual world, in the economics world, through binary options. Maybe the USA will eventually save the day but only after millions of consumers get hit. Maybe the list of regulators that goes on and on (FINMA / CySEC / FSB / IFSC / CBR / ISA / FSMA / ASIC / FCA / UKGC / FMA / BCSC / CSA / MSC / ESMA / AMF / OSC / SFC / CFTC / SEC / AFM / MFSA / MiFID) will stop the useless warnings and banning of the market and think of the consumer instead of living in 1940 all over again? We can only hope that eventually regulators will do the right thing – for the consumers.