We have recently received complaints and read many negative reviews on the internet about regulated binary options brokers using indecent practice towards traders. Although some binary brokers may be regulated, we do not recommend opening a trading account with ANY broker, be it a regulated broker or a non regulated broker, as THEY ALL seem to be unethical and non-trustworthy, even the regulated ones! If you have been scammed by such a company you can check out our RECOVER FUNDS FROM BINARY SCAMS section.

Also, instead of trading binaries which are mostly scams, you can trade with a trustworthy and popular FOREX broker such as STR Capital.

The Consequences: 1 Year After CFTC and CySEC Fines, Banc de Binary Might be Closing Down

FinanceMagnates Reports: Banc de Binary to Close Down

It seems that if the news is true, Banc de Binary will be closing down soon, this is a big shock to the binary options community as Banc de Binary is the biggest broker in the world. According to FinanceMagnates “A high level official at the CySEC-regulated binary options provider has confirmed the news, explaining that the move was taken by the firm’s owners following the consistently negative press that the company faced over the past year.”

In 2016 (January and February) Banc de Binary was heavily fined by the CFTC and CySEC for unregulated trading and breaches of compliance. On the 19th of October 2016 the IFSC also revoked Banc de Binary’s Belize license.

Banc de Binary – History With Regulator Fines and Licensing

What Will Happen if They Really Shut Down?

If Banc de Binary shuts down, hundreds if not thousands of people employed by one of the biggest global providers in the binary options industry will be out of the job. It will create a large void in the binary options industry and hopefully the void will be filled by regulated and trustworthy brokers and not by unregulated bucket shops. We are hoping that Banc de Binary will NOT shut down and will be able to find a way out of their negative press issues without having to shut down.

Banc de Binary to shut down, image from FinanceMagnates
Banc de Binary to shut down, image from FinanceMagnates