Market News

Google Play no longer allows binary options apps

Apr 16 2018
By Jonathan Smith

Google updated its developer policies and banned binary options apps from the Google Play Store for Android devices previous week. The online giant's move is what seems the final nail in the coffin for these controversial fiancial instruments with huge scam potential.

We'd like to remind you that US technology giant Apple, on the iothe hand, explicitly banned binary options trading applications in June last year. So, Google followed suit two weeks after the European Securities and Markets Authority (ESMA) imposed three-month ban on binary options. According to ESMA’s announcement, the prohibition is needed to protect investors due to the products’ characteristics.

Binary options are marketed as easy-to-trade financial instruments and traders are usually being promised high returns (usually between 75% and 85% of the bet, depending on the broker). However, the truth is that binary options are the closest thing to gambling in the trading world and most of the brokers that offer them are not licensed or pure scams. A recent survey of UK’s Financial Conduct Authority revealed that Brits lose an average of GBP 87 000 a day to binary options scams.

In March, 2018 Google also changed its Adwords Advertising Policy, which includes ban on any ads for binary options. The ban also covers Adwords for initial coin offerings (ICOs), crypto-exchanges, cryptocurrency wallets, and cryptocurrency trading advice.

TAGS: Google play binary options ban mobile apps

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Broker	Country	Regulation	Platform	Min Deposit	Review
	US	CFTC, NFA	MT4, Web, in-house	$50	Review Website
	US	NFA, CFTC	MT4	$250	Review Website
	Cyprus, UK, Mauritius	CySec, FCA, FSC	MT4, MT5, Web	$10	Review Website
	Australia	ASIC	MT4, MT5, IRESSTrader	$100	Review Website
	Cyprus, Australia	CySec, ASIC	MT4, MT5	$5	Review Website
	UK, Australia, South Africa	FCA, ASIC, FSCA	MT4, Trading Station, NinjaTrader	$50	Review Website
	UK, Cyprus, UAE, South Africa	FCA, CySEC, DFSA, FSB	MT4, MT5, FxPro Markets, cTrader	$100	Review Website
	Cyprus	CySEC	MT4, MT5, Web	$1	Review Website
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	Cyprus, UK, South Africa, UAE	CySec, FCA, FSCA, DFSA	MT4, MT5, Web	$5	Review Website
	Cyprus, UK	CySEC, FCA	MT4, MT5	$1	Review Website
	UK	FCA	MT5	$5	Review Website
	UK	FCA	MT4, Web, MT4 for Mac	$100	Review Website
	Australia, UK	ASIC, FCA	MT4, MT5, cTrader	$200	Review Website
	UK, Cyprus, Dubai	FCA, CySEC, DFSA	MT4, MT5, Web, PrimeTrader	$100	Review Website

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