Brokers News

Banc de Binary In Negotiations With CFTC About US Regulations

It's fun to do Forex trading in the US lately, either as a trader or a broker. You know what I mean – all those charming rules and regulations, the NFA messing with brokers... It actually comes as a surprise when I hear there's someone who actually wants to be regulated in the States.
 
I guess that Banc de Binary must be very brave to make this attempt: as of yesterday, the American binary options broker has entered into negotiations with the Commodity Futures Trading Commission (CFTC). The goal is to have binary trading regulated in the US. This would legitimize binary options as a financial instrument and give more credibility to companies that offer binary options trading. It would also bring security to traders – after all, we all feel safer having some legislature to lean on when putting our personal finances at risk. 
 
Of course, considering the fact that Banc de Binary recently made the news with its decision to open a new headquarters in Cyprus and get the CySEC license, the desire to be US-regulated is understandable. In fact, it sounds fairly reasonable to me. The part I find more interesting, though, is that Banc de Binary will not be allowed to accept new US customers for as long as negotiations last. Previously registered account holders and foreign customers will retain full access to all services, of course. So, it was fine to open an account before the regulation talks, but it is forbidden now. It almost seems like requesting specific legislation to legalize a binary options in the good old US of A has more disadvantages than it has benefits, doesn't it?
 
Nonetheless, the decision to operate only in regulated countries is commendable. Especially since it would also help turn binary options into a legalized financial product and will improve its image – which is good news for binary traders. It just seems sad that a company has to move all the way to Europe to get its regulation (for the time being, Cyprus is the only country acknowledging binary options as a financial instrument, and Japan is working on such a regulatory framework), and its own country seems reluctant to assist it in legalizing a trade that, when all is said and done, is both profitable and popular. 
 
About Banc de Binary 
 
Banc de Binary is a privately held trading and investment firm operating out of the USA, regulated by CySec. The broker’s binary option services are powered by SpotOption – one of the largest binary options platform providers. It allows trading in a number of option types: Digital Options Pro, the Option Builder, the One Touch Platform, the 60 Second trading platform, and BinaryMETA.
TAGS: banc de binary  CFTC  binary options  binary options trading  trading regulations 

More news about Banc de Binary

Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
US, UK, Australia CFTC/NFA, FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, Web,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Bulgaria FCA, FSC Web $150 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website

More Forex Brokers News

Admiral Markets amends margin requirements

Jan 19 2017 14:59:35

Admiral Markets, a European forex and CFD broker, said it is amending the margin requirements on the instruments it offers on some of the live trading accounts.    According to the broker, the changes will apply to all positions opened on Admiral.Markets and Admiral. Read more

eToro takes ETFs to a next level of Copy Trading

Jan 18 2017 15:20:51

Innovative forex broker and social trading network eToro launched a new investment service called CopyFunds, which takes exchange-traded funds (ETFs) to a whole new level.   ETFs allow traders to invest in a whole sector or market trend, not just in one company or commodity. Read more

XM is only forex broker in World Finance 100 2016 list

Jan 18 2017 12:47:05

XM, a European forex broker regulated by UK's FCA and the Cyprus Securities and Exchange Commission (CySEC), said it has been included in the World Finance 100 list for 2016. Read more

Interactive Brokers’ income before taxes increases by 66.2% in 2016

Jan 18 2017 08:39:23

Multi-asset automated brokerage Interactive Brokers (NASDAQ GS: IBKR) announced key financial and trading metrics for 2016 on Tuesday.  Leading US broker and a market maker reported its income before taxes for 2016 came in at $761 million, which is a growth of 66.2% compared to 2015. Read more

Swissquote’s social network Pulse now available on iOS devices

Jan 17 2017 15:06:27

A bank, a major FX and CFD brokerage, as well as a fintech pioneer, Swissquote announced that its recently launched social network, called Pulse, is now available on iOS devices. Read more

Morgan Stanley raises its stake in Plus500

Jan 16 2017 15:31:23

Morgan Stanley, the US multinational financial company who is among the major stakeholders in the London Stock Exchange (LSE)-traded forex broker Plus500 (LON:PLUS) has raised its stake in the company to pass the 6% threshold. Read more

IG urges its clients to take a stand with regards to FCA’s proposals

Jan 13 2017 08:36:04

Major brokerage IG Group (LON:IGG) encourages its clients to share their opinions about the recent proposal from the Financial Conduct Authority (FCA) to raise margin requirements for CFDs and spread betting, among other things. Read more

FXCM sees December, Q4 2016, annual trading volumes fall

Jan 12 2017 14:31:39

FXCM, the leading US forex brokerage saw a double-digit decline in its December retail and institutional trading volumes both on a monthly and annual basis, show the officially released company metrics. Read more

IG Group renames binary options to “Digital 100s”

Jan 12 2017 10:44:34

 IG Group, one of Europe's largest forex, CFD and spread betting (UK only) brokers has rebranded its binary options products and now calls them “Digital 100s”. Read more

It's official: Banc De Binary renounces Cyprus license

Jan 11 2017 12:43:49

 Banc De Binary, the largest and oldest regulated binary options broker has renounced its Cyprus license, several days after the first reports that it is planning to shutter its business and has stopped taking clients from the EU. Read more