CySEC VS Unregulated Binary Options
The (CySEC) Cyprus Securities and Exchange Commission Cyprus regulator has posted a list unauthorized Forex and Binary Options brokers on their website in order to further protect investors. This list does not necessarily mean that these websites are scams or fraud brokers, it only means that these brokerages are websites do not have a CySEC license and are not regulated by CySEC. Websites that are regulated by USA regulators or South American regulators such as the IFSC (International Financial Services Commission Belize) or Australian ASIC (for example) have not been added to this list, if we are not mistaken, because they are regulated by a different internationally recognized financial watchdog.
Basically this list is compromised of websites that are not owned or operated by a CySEC regulated entity or by any other internationally recognized financial regulator. We have gone over the list which is compromised out of FX and Binary Options websites and compiled a list of the Binary Options websites only, here for you, on BinaryOptionsRegulations.net.
You can see the whole entire list on the original posting on CySEC website, including the FX websites, in the following link: http://www.cysec.gov.cy/en-GB/complaints/non-approved-domains/
List of Unauthorized (Binary Options) Domains
app.qbitsmegaprofit.co, autotradingbinary.com, investrader.net, tradorax.com, ubinary.com, ukoptions.com, utrader.com, vipoptions.com, whaleoptions.com, wikioption.com, winoptions247.com, zenithoptions.net, rbinary.com, sbotrading.com, thetrueoption.com, unitedoptions.com, 10markets.com, binaryswiss.com, 500option.com, 55profit.com, aaoption.com, albatrosgt.com, algobanque.com, alliance-options.com, b4binary.com, bitransax.com, banco-capital.com, beeoptions.com, bigoption.com, binaring.com, binary8.com, binarybrokerz.com, binaryfn.com, binaryroom365.com, binary-slot.com, bloombex-options.com, binaryuno.com, bmpoption.com, brokerofficial.com, brokeroption.com, bsdoption.com, citrades.com, daily-trades.com, eclipse-finance.com, fmtrader.com, edgedalefinance.com, empireoption.com, exbino.com, finpari.com, ftrade.com, goldenratioassetmanagement.com, gotooption.com, ftradition.com, gtoptions.com, highoption.com, imperialoptions.com, insideoption.com, ivoryoption.com, lbinary.com, lottmarket.com, marketsrally.com, maxoptions.com, nextoption.com, no1options.com, onetwotrade.com, option500.com, optionbit.com, goptions.com, optionstarsglobal.com, optionsxo.com, pacificoption.com, plusfinancials.com, plusoption.com, plustocks.com, porterfinance.com, primebrokerz.com, safeklik.com, safe-option.com, securedoptions.com, tadawulinvestments.com, thetrueoption.com, titantrade.com
Should You Stay Away From These Binary Options Websites?
Many of these websites are down, meaning that they are not even working anymore. Most of them however seem to still be working and accepting new clients. It is not easy to answer the question if they are all unsafe as each website needs to be checked and inspected individually. What we can say for sure is that none of these websites are authorized by CySEC and if you do decide to trade binary options on one of these websites you may be taking a very big risk.
On the other hand we can not tell you that ALL of these websites are scams. Some of the websites on the list are recognized in the binary options industry as scams, for example “TitanTrade” at titantrade.com (which is on this list) is currently under investigation by ASIC and other watchdogs and regulators after they were suspected of being a scam.
When dealing with unregulated websites we can tell you for sure that there is a big chance that you are actually dealing with a scam broker that will offer you a bonus and try to trick you into making large deposits and loosing everything on bad trades. If you do make good trades and try to withdraw your money you may get locked out or be given the turnaround because you took a bonus which makes it impossible to withdraw if you did not trade 20 times the bonus volume.
Shady Tactics Used by Some Unregulated Brokers
These types of shady unregulated and under-the-radar brokers also may be using extremely high pressure sales tactics. The high pressure sales tactics and offering of bonuses are currently deemed as poor practice and being currently banned by most regulators, because they are practices used by shady and scammy brokers, in order to get clients to invest large sums of money and loose it all as quickly as possible or be unable to withdraw any winnings they might have made.
Regulated Binary Options Brokers and Exchanges
If you want to trade binary options it is safe to say that you should only do so with a regulated and trustworthy broker that is internationally known to be trustworthy and fair towards traders, a broker that is not using shady sales tactics and indecent practices, some of the brokers we can recommend are StockPair, AlphaBinary or VantageFX that are regulated by Internationally recognized financial watchdogs such as CySEC or the Australian ASIC or IFSC of Belize. It is also recommended to try out a binary options exchange such as NADEX (CFTC) , Cantor Exchange (CFTC), BinarEx (CFTC & CySEC) or Daweda (CySEC) as they are regulated and do not trade against the client.
Is it %100 Safe to Trade With a Regulated Broker?
Even if the broker you are planning to trade with and their website are authorized and regulated by CySEC or any other internationally recognized financial watchdog it does not mean that you are %100 safe, as even some of these types of brokers are still using shady indecent practices such as high pressure sales techniques and bonuses, but these shady practices are currently being banned by most regulators. In the future any brokers using these types of techniques will be fined by their regulator and will even loose their license, meaning that only %100 trustworthy brokers will be able to get licensed and stay that way.
For the mean time, even when trading with a regulated broker, never take a bonus if you are offered one and don’t fall victim to high pressure sales techniques, just deposit what you can and trade safely without anyone pressuring you into depositing larger sums of money or making trades that you feel skeptical or unsure about.
Once all the brokers stop using shady techniques, in the very near future, trading with a regulated broker will be %100 safe and no-one will be calling you, trying to get you to make deposits you can not afford and did not plan on making. If a broker is trying to get you to make trades that you did not plan on making and pressures you into doing so, it is seen today by regulators as a shady and indecent practice being done by the broker. Remember that no matter where you are investing your money, be it binary options or any other investment, it is your own money and only you should get to make decisions of what you want to do with your money, and not the broker.
Don’t let anyone push you into making trades you didn’t plan on making by yourself and don’t fall for the bonus tactics, remember that nothing is free in life. We are already seeing changes in the binary options industry lately, regulators have banned the bonus technique and are also banning the high pressure sales techniques. In the very close future brokers will become more user friendly, until this happens, be extremely careful with BO brokers, all of them.