Even private companies like Apple are changing their rules and banning binary options apps from their stores. (https://www.forexbrokerz.com/news/Binary-options-apps-no-longer-permitted-by-Apple) The crackdown is coming from all sides because after years of neglect financial regulators, law enforcement and private business finally realized how risky this instrument is and how dishonest the brokers offering it often are.
Apart from banning binary options occasionally regulators actually do their jobs and impose fines on binary options brokers and their employees who have crossed the line - the Cyprus Securities and Exchange Commission (CySEC) has announced several board decisions penalizing some of the former senior managers of the Pegase Capital company that operated the binary options brokerage Interactive Options. The fines total €200 000 and are imposed on three company officials. (https://www.forexbrokerz.com/news/CySEC-slams-Interactive-Options-managers-with-200-000-fine) CySEC clarifies that the fines are for failing to have in place and strictly follow operational requirements and to periodically assess the effectiveness of the policies arrangements and procedures implemented by the Company for complying with obligations provided in the Cyprus legislation.
There are many important trading elements that we the traders have to check when choosing a broker . from all spreads is an mainly considered as an important financial tool which an investor should consider when choosing a broker. The lowest trading spreads is very supportive to lead a healthy trading life with surely.
This happened to me last year as well, got involved with one eurekaminingblock and another options broker that I lost almost 200kUSD to, I was so devastated when it happened, after several attempts to get my money back involving lawyers etc, I was able to recover my money.
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Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
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