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  1. #1
    Rookie Member riverdweller's Avatar

    Should you avoid these Brokers?? !!!

    After seeing this news article ( https://smnweekly.com/2016/10/18/lar...okers-in-2016/ ), I was surprised to see one of my 3 brokers I use in the list. I am just glad that my IQoption account is one of my smallest accounts. From my 6months of consistent trading, I have found Solidary Market of New Zealand to be more suitable for me.
    Until next time - CLAUDE

  2. #2
    Legendry Member milos's Avatar

  3. #3
    Legendry Member Michael Hodges's Avatar
    yeah, warnings are good but should be taken with a grain of salt... all to often a broker illicitly offering binary in one jurisdiction is a trusted regulated broker in another.

  4. #4
    Legendry Member Okane's Avatar
    No you don't need to avoid a broker because of a fine.
    However, you should see why they got fined. For example, in the case of Banc De Binary they were
    refusing withdrawals, depleting clients funds and were basically scamming clients and they had to settle
    for 11 million.
    In the case of 24Option, they didn't have license in Belgium and it's good that authorities keep track of these things
    but you must remember that in the meanwhile, unregulated brokers are also offering services in Belgium and they will
    normally avoid being detected thanks to using fake addresses and not being really registered with any authorities.
    So just because they have avoided getting caught it doesn't mean they are good because they have not been warned.
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  6. #5
    Rookie Member riverdweller's Avatar
    Thanks for the replies - especially about 24option, which is 1 of 3 brokers I use for trading Binary Options. At the end of this article -( https://smnweekly.com/2016/10/21/isr...binaries-risk/ ), I have noticed that the EU is trending towards getting tougher on people using Binary Options. I wonder if the EU BOption regulations would be set up in the same way as it is in the US?

  7. #6
    Legendry Member milos's Avatar
    24 options and stockpair are fine brokers. They're not accepted for the US traders.

  8. #7
    Junior Member
    I am with 24option and I never had any problem with them so far..

  9. #8
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by riverdweller View Post
    Thanks for the replies - especially about 24option, which is 1 of 3 brokers I use for trading Binary Options. At the end of this article -( https://smnweekly.com/2016/10/21/isr...binaries-risk/ ), I have noticed that the EU is trending towards getting tougher on people using Binary Options. I wonder if the EU BOption regulations would be set up in the same way as it is in the US?
    it's unlikely that EU regulation will follow the US. The traders that like binary prefer the spot style, it's just way easier simpler with less hassle than NADEX style, and the regulators have accepted that. The changes are against the marketing of binary, the call center/pushy account reps that give you the run around when you want to withdraw/ cold calling douche bags who rob grandma of her retirement types that give all binary a bad name, trading binary will still be around. What you wont see are billboards, tv ads, targeted websites, team sponsorships in the countries that follow on the crack downs. Right now they are trying to figure out how to enact the media black out of binary since trading binary is legal, hopefully what will happen is a better push to public awareness of binary so that the traders can trade and the rest can stay away.

  10. #9
    Legendry Member Michael Hodges's Avatar
    PS, NADEX accepts traders and accounts from about 100 countries around the world, lots of EU, Britain, Australia, New Zealand, a few in Asia, lots of others, you should check it out. I like it, it's a more advanced playing field, better opportunities, no BS absolutely, and typically I get better returns.

    This is a link to our dedicated forum for NADEX where you can find discussions on all things NADEX and links to other nadex articles.

  11. #10
    Legendry Member milos's Avatar
    Quote Originally Posted by Michael Hodges View Post
    PS, NADEX accepts traders and accounts from about 100 countries around the world, lots of EU, Britain, Australia, New Zealand, a few in Asia, lots of others, you should check it out. I like it, it's a more advanced playing field, better opportunities, no BS absolutely, and typically I get better returns.

    This is a link to our dedicated forum for NADEX where you can find discussions on all things NADEX and links to other nadex articles.

    Nadex is accepted EU countries even Brazil in South America.

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