Results 1 to 5 of 5

Thread: Crooked Brokers

  1. #1
    Rookie Member

    Exclamation Crooked Brokers !!!

    http://www.sec.gov/News/PressRelease...0#.Uguz1qa9LCQ

    I'm not sure if anyone heard this but this is an article where they talk about binary options companies are illegally selling these options. My cousin who works as an accountant knows someone who helps advise government contract and when I told her about me going into binary options trading she sent me this. I know it particularly talks about one company but if anyone knows any other unsafe companies or know about any real good and safe brokers let me know please since I haven't decided on a broker because I'm very new to this and I'm trying to learn before I start.
    Last edited by Dave909; 08-19-2013 at 06:25 PM.

  2. #2
    Active Member
    Hi, Dave. We have discussed this subject already in other thread… Actually according to US federal low binary options have to be SEC registered in order to be legally traded by us citizens. That is the reason that most of the binary options company which are not registered, or CySec (Cyprus EU authority) registered are not officially allowed in USA. That not mean that they are scam or more risky than the other type of investments. That just mean that they are not authorized to advertise and offer binary options to US clients.

  3. #3
    Administrator Martin Kay's Avatar
    Quote Originally Posted by Thomas01 View Post
    Hi, Dave. We have discussed this subject already in other thread… Actually according to US federal low binary options have to be SEC registered in order to be legally traded by us citizens. That is the reason that most of the binary options company which are not registered, or CySec (Cyprus EU authority) registered are not officially allowed in USA. That not mean that they are scam or more risky than the other type of investments. That just mean that they are not authorized to advertise and offer binary options to US clients.
    I agree with you.

    The whole status quo of binary options in the US is yet unclear. Europe is going towards regulation, Japan, Cyprus and Australia as well. It'll take some time before trading binary options in the US will become 100% regulated, but im sure that will happen.

    Second, could you please give us the link of the thread you talking about? that would be very helpful for Dave909 and other members reading this thread. I see similar discussions here
    http://forums.binaryoptionsthatsuck.com/threads/4017-BBinary-live-Discussion-forum?p=9018#post9018
    and here
    http://forums.binaryoptionsthatsuck....-shore-brokers
    another post
    http://www.binaryoptionsthatsuck.com...anc-de-binary/
    and last
    http://forexmagnates.com/us-binary-c...anc-de-binary/

    Hope that helps

  4. #4
    Specialist Member TAllen1429's Avatar
    Quote Originally Posted by Martin Kay View Post
    I agree with you.

    The whole status quo of binary options in the US is yet unclear. Europe is going towards regulation, Japan, Cyprus and Australia as well. It'll take some time before trading binary options in the US will become 100% regulated, but im sure that will happen.

    Second, could you please give us the link of the thread you talking about? that would be very helpful for Dave909 and other members reading this thread. I see similar discussions here
    http://forums.binaryoptionsthatsuck.com/threads/4017-BBinary-live-Discussion-forum?p=9018#post9018
    and here
    http://forums.binaryoptionsthatsuck....-shore-brokers
    another post
    http://www.binaryoptionsthatsuck.com...anc-de-binary/
    and last
    http://forexmagnates.com/us-binary-c...anc-de-binary/

    Hope that helps
    From my understanding, the Frank Dodd has had a significant impact on binary options trading within the USA already. This act was specifically designed to provide additional protection for investors following the chaos created by the 2007-2008 financial crisis.

    For instance, investors can no longer legally trade the stock and currency markets using binary options in the USA. However, executing binary options using commodities or indices as their underlying assets is still totally legal. These stipulations are having massive implications for this industry.

    In addition, this act has created the situation whereby binary options brokers are now categorized as either USA friendly or not.

  5. #5
    Specialist Member runneroption's Avatar
    This act has a great impact on the US binary options traders. Unfortunately it makes illegal some types of binary options for US traders. Here I found the explanation about the Dodd-Franc act. Some of us legal notices are so stupid and even it is not known why they are made at all. Also they have an act that if you are not accredited investor you are not able to invest in startup companies. That’s why it is impossible for the ordinary people to participate in the big startups in our history like Facebook, Google and thousand others in their early stage. So not everything is designed the way we feel will be good. It could protect us rules like these but it could also prevent us to trade really good opportunities.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3