Great Choice For Beginners!
Free Trading Education!
Free Demo Account 1000$!
Get Your Sign-Up Bonus Now!
Only For Experienced Traders!
The European Securities and Markets Authority (ESMA) announced on Monday that it extends the restrictions imposed on binary options for another three-month period. More specifically, ESMA renews the prohibition on the marketing, distribution or sale of binary options to retail investors as of today, October 2, 2020.
The renewal of the restrictions imposed on binary options does not come as a surprise, as ESMA announced its intentions to extend it a further three-month period in August. Back then, the regulator also announced some changes to the renewal, excluding certain long-term options from the scope of the prohibition.
Previous week ESMA has also agreed to extend the restrictions imposed on the sale, distribution, and marketing of contracts for differences (CFDs) until the end of January 2020. The regulator has not changed any of the provisions which it initially announced in March this year. These include a leverage cap of 1:30 for forex majors, provision of negative balance protection on a per account basis, preventing the use of incentives such as bonuses by brokers and a requirement for the latter to state how many of their clients lose money with them.
We remind you that the pan-European regulator introduced the ban on binary options and the restrictions on CFDs in July, 2020 due to investor protection concerns. According to the Markets in Financial Instruments Regulation (MiFIR), ESMA can only introduce temporary three-month measures, but before the period expires, the regulator can review the results and consider a further extension for another three month-period.
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
Best Binary Options Brokers 2020:
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
More Forex Market News
CySEC relexes reporting rules for brokers amid corona outbreak
Because of the extraordinary situation in the wake of the corona virus outbreak the Cyprus Securities and Exchange Commission (CySEC) gave its brokers more time to report their annual volumes. The original deadline for submitting the reports was April 12. Read more
Sharp rise in corona virus scams
Coronavirus related fraud has increased by 400% in March, Manchester City Council reports, citing data from Action Fraud, which has received over 100 reports from victims who have lost nearly 1 million GBP. Read more
FCA eases reporting deadlines for regulated companies
In the wake of the coronavirus pandemic the Financial Conduct Authority (FCA) in the UK grants regulated firms additional 6 months to publish audited annual reports. The concern is that many companies may be pressured financially because of the increased market volatility. Read more
CFTC hinders leveraged crypto trading
In a new guideline published on Tuesday the Commodity Futures Trading Commission (CFTC) in the U.S. defined what an “actual delivery” of a digital asset means. Read more
Scammers use extortion e-mails threatening victims with coronavirus
Sophos, an IT security company reports of a new form of scam where criminals send extortion e-mails to victims, threatening to infect them and their families with coronavirus unless they pay 4000 USD in digital currencies. Read more
The Swedish Finansinspektionen warns against JTtrader
The Swedish Financial Supervisory Authority (Finansinspektionen or FI) warned against unregulated broker JTtrader on Monday. Read more
SEC charges former US senator with $4.3 million crypto scam
The United States Securities and Exchange Commission (SEC) has filed a complaint against David Schmidt, a former Republican state senator, as well as two other people for their role in the alleged $4.3 million crypto scam “Meta 1 Coin”. Read more
ASIC changes its priorities amid CoVID outbreak
The Australian Securities and Markets Authority (ASIC) will suspend some of its supervisory activities that are not “time critical”, as the regulator focuses on its coronavirus response. Read more
CFTC warns against corona scams
The Commodity Futures Trading Commission in the U.S. has issued a warning against the alarming rate at which corona virus related scams have flooded the markets, preying on the fear, uncertainty, and doubt in the wake of the pandemic. Read more
Coronavirus: Global economic outlook and tips for traders
ESMA announces start date of binary options ban
The European Securities and Markets Authority (ESMA) has announced that its ban on binary options will start from 2 July 2020 onwards.
This ban will last an initial three months and renewed as ESMA deems necessary.
Once the ban comes into effect, we will no longer offer binary options on financial assets to retail clients residing in the European Union (EU). All open trades will be carried to term.
We are working hard to implement products such as lookback options, spot FX, and contracts for difference (CFDs) for retail investors in the EU, in line with the appropriate regulations.
We will also continue to offer binary options on Volatility Indices which remain unaffected by the ESMA ban.
Retail clients may also upgrade to professional client status in order to continue trading binary options on financial assets such as currencies and indices.
We thank all affected clients for their patience and understanding in this matter.
Ready to start?
Trade in the world’s financial markets in a simple, user-friendly platform.
Partner with us
We provide business partnership services like API, White Label etc.
Become an FT subscriber to read:
Leverage our market expertise
Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities.
Join over 300,000 Finance professionals who already subscribe to the FT.
Best Binary Options Brokers 2020: