Regulated Binary Options Brokers
In any industry there are constant changes and many of these are for the improvement of both the businesses and the customers. Some of the biggest changes in the binary industry are currently revolving around regulated binary options brokers.
Most people will agree that the top three brokers currently offering their services are Banc De Binary, AnyOption and 24Options. The Banc De Binary is regulated and has recently acquired the approval of the FSA in the United Kingdom. This development will allow Plus 500 to emerge in the binary option trading scene as a regulated broker.
Until recently many of the brokerages which had chosen to undertaken registration had done so in places like Cyprus and the Cayman Islands. In order to distinguish themselves from the other brokers Banc De Binary applied and negotiated with the CFTC; the American financial regulatory body. Whilst this process is ongoing it is not possible for this broker to accept any US based traders. However, they are now registered and approved by the FSA in the United Kingdom. This move will help to give Banc De Binary a competitive advantage and ensure they remain one of the leading binary options brokers; regulated or otherwise. A consequence of this is that Plus 500 will also be approved by FSA and will be able to declare they are one of the regulated binary options brokers.
24Options is also intending to be regulated and is currently awaiting approval by the Cypriot regulatory authority, CySEC; the biggest regulatory body for binary brokers in the world.
Becoming registered shows traders that the broker is offering a fair service and that their funds are safe. However this rush to improve the regulatory status of brokers is a response to the recent Cypriot banking crisis. This issue has created ripples in the binary community as money which was perceived to be safe is not necessarily so any more. If your broker is based in Cyprus it is worth confirming the position regarding your funds; you may wish to use a different broker.
The biggest news really revolves around Banc De Binary’s commitment to becoming regulated by as many countries as possible. They are currently approved and are available to traders based in Italy, Spain, the United Kingdom and even Germany. This is the first steps towards insuring that all binary brokers are registered in the future and binary options becomes a more accepted means of investment.