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  1. #31
    Junior Member BinaryScamSniffer's Avatar
    Binary options are similar to forex and vanilla options, and will not be banned worldwide. There is no possible chance of binary options to be shut down forever. Some countries have started to get more serious on this topic, implementing reforms and adopting laws that will regulate the industry, but it does not necessarily mean that the activity will be stopped.

    First of all, binary options are an economic activity similar to any other type of trading. There is no specific characteristic that makes it more profitable or easy to master. Every type of trading requires thorough studying and a lot of practice. Furthermore, binary options are an important segment of the trading industry, which earns large sums of money worldwide. It is a major economic phenomenon, and it would be disadvantageous for countries to ban binary options, because they would lose a lot of income that is earned by the trader.

    It is because of scammers and fraudulent brokers that the industry has to suffer. Just like any other field, there are shady people who abuse the influence and reputation of binary options to profit off naïve people who are not informed of potential dangers. In my opinion, countries must promote laws that make the selection process of certified brokers more difficult. In this way, fewer brokers will pass the test, but will be able to maintain high standards of activity.
    Another thing that countries may do is inform potential clients about the risks and dangers of getting involved in trading with a fraudulent broker. People will learn more and will become more cautious, being able to tell a fake broker from an authentic one. Last but not least, there should be fines for brokers that misconduct, or even permanent bans and legal claims against representatives of fraudulent brokers.

    In conclusion, binary options will continue to exist without risking permanent ban. I believe that the system that regulates the industry will get stricter, but this is for the sake of everyone involved in trading.

  2. #32
    Administrator Martin Kay's Avatar
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  3. #33
    Rookie Member cnb150's Avatar
    A well thought out article. Hard to trust brokers these days, even those that are regulated. I'm sure there are good brokers out there however, its like finding a needle in the haystack, (unless you live in the US, in which case, big flashing neon signs that say NADEX are everywhere)it's sad that scummy brokers give this industry a bad name, there's a lot of money to be made in this industry if done right. Unfortunately, the regulators have to play catch up as brokers are popping up left and right these days.

    As for the end of binary options, I don't think we have to worry about this anytime soon, we will though have to worry about tighter regulations, especially in countries like the U.S where I reside.
    Last edited by cnb150; 02-20-2017 at 02:50 AM.

  4. #34
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by cnb150 View Post
    A well thought out article. Hard to trust brokers these days, even those that are regulated. I'm sure there are good brokers out there however, its like finding a needle in the haystack, (unless you live in the US, in which case, big flashing neon signs that say NADEX are everywhere)it's sad that scummy brokers give this industry a bad name, there's a lot of money to be made in this industry if done right. Unfortunately, the regulators have to play catch up as brokers are popping up left and right these days.

    As for the end of binary options, I don't think we have to worry about this anytime soon, we will though have to worry about tighter regulations, especially in countries like the U.S where I reside.
    There won't be tighter regulation in the US, we already have CFTC and NADEX, if you aren't trading there you need to be. Seriously, payout is way better, totally trustworthy, no worries when trading.... if you are worried about the learning curve I can help with that. Check out the NADEX thread at least, to see the kinds of things you can do there....

    here is the link...
    \

    http://forums.binaryoptionsthatsuck....ums/2177-NADEX

    and when it comes to tightening EU regulation, it looks like CySEC wants it brokers to move toward an exchange model similar to NADEX so if you aren't familiar, you need to get that way. The demo account is free and neverending so there really isn't a reason not to investigate.
    "Great Googely Moogely" ... Frank Zappa

  5. #35
    Rookie Member cnb150's Avatar
    Opened a demo account with them two weeks ago. I don't dispute the fact that NADEX has higher payouts and better security. In fact, I've been doing some practice news trades when I'm on NADEX and have had mostly good results, a few shitty trades too. I don't they they were open today,due to presidents day. So I'm going to have to hold off on testing a new strategy that I want to test for day trades.
    Last edited by cnb150; 02-20-2017 at 08:40 PM.

  6. #36
    Rookie Member dante66's Avatar
    Yea I agree CNB that binaries probably won't end but regulations will definitely become stricter. If not than more traders will be forced to trade spot forex where alot of the brokers seem to be more trustworthy. Personally I don't want BO to end but only time will tell.

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