Binary option regulations have taken another step forward with the introduction of the FSB into the picture. The Financial Services Board of South Africa is “an independent institution, established by statute to oversee the South African non-banking financial services industry in the public interest, and fully funded by fees and levies imposed on this industry.” The FSB is also the regulative body that regulates AnyOption, one of the popular and trusted binary options brokers that has its own home-made platform.
Learn more here: Is AnyOption Regulated?
Regulation of AnyOption by FSB:
Binary Options Trading in South Africa
In South Africa it is estimated that tens of millions of dollars are invested each year in binary options schemes, many of these dollars being invested into brokerages that may be using indecent practices in order to scam or defraud investors out of their hard earned money. This is why it is crucial for regulatory bodies such as the FSB to take a stance in the binaries market and regulate the trade for South Africans.
Complaints to FSB
If you feel that you have been scammed or defrauded by a binary options broker that is using indecent practices you can send a complaint to the FSB in the following link: https://www.fsb.co.za/feedback/Pages/default.aspx