de | cn | ru

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 
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, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, 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
Belize IFSC MT4, MT5 $100 Review Website
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 MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Market News

CySEC suspends the license of AFX Capital Markets

Jul 19 2019 16:33:06

  The Cyprus Securities and Exchange Commission (CySEC) announced that the license of AFX Capital Markets is temporarily suspended due to suspicions of non-compliance regarding the safeguard of clients’ funds. Read more

Belgium’s FSMA warned against binary options brokers Vipwayzone and Go Capital FX

Jul 18 2019 15:41:16

  Belgium’s financial regulator, the Financial Services and Markets Authority (FSMA) warned the public against Vipwayzone and Go Capital FX previous week. According to the FSMA, the two companies offer binary options without complying with Belgian financial legislation. Read more

Could Trump’s hostile view of Bitcoin & Libra affect the crypto market?

Jul 17 2019 16:34:56

In a series of tweets, the US President Donald Trump said he's not a fan of digital currencies like Bitcoin and Libra previous week. A couple of days later, Bitcoin plunged nearly 13% after US lawmakers grilled the Facebook executive in charge of Libra. Read more

Hong Kong’s SFC also blacklists GCG Asia

Jul 16 2019 15:08:47

  The Hong Kong Securities and Futures Commission (SFC) recently blacklisted unregulated brokerage Guardian Capital Asia (GCG Asia). Read more

German and Austrian police goes after several online financial scammers

Jul 15 2019 14:50:02

  Option888, XMarkets, TradeInvest90, ZoomTrader and TradoVest are being investigated by German and Austrian police for investment fraud and money laundering, the German public television reported, as quoted by the Times of Israel. Read more

ESMA warns forex brokerages not to circumvent its product intervention measures

Jul 12 2019 17:22:23

  The European Securities and Markets Authority (ESMA) has identified certain undesirable practices among CFDs providers, which raise concerns of non-compliance with the product intervention measures introduced a year ago. Read more

Spain’s CNMV blacklists Grand Capital, BinaryMate, FXTPremium, and more

Jul 11 2019 16:56:42

  Spain’s financial regulator, the CNMV, updated its warning list with a number of unregulated brokers on Monday: Grand Capital, BinaryMate, FXTPremium, VideForex, HQ BROKER, WellingtonInv, GlobalBCM. BitcoinTrader, and Smart Capital Advisor. Read more

Bitmarket closes up shop, hack suspected

Jul 10 2019 19:58:47

  Poland’s second-largest crypto exchange Bitmarket closed up shop on Tuesday, without any prior warning. According to a message posted a day earlier on the Bitmarket’s website, the exchange was forced to cease operations due to loss of liquidity. Read more

Austrian FMA flags unregulated brokerage Universe Markets

Jul 09 2019 15:31:55

    The Austrian Financial Market Authority (FMA) warns investors against dealing with Universe Markets and its parent WhiteSquare Trading Ltd. Read more

Capital FMI ends up on FCA’s warning list as a clone

Jul 08 2019 11:40:05

  Unregulated broker Capital FMI ended up on the warning list of UK’s Financial Conduct Authority (FCA) as a clone firm previous week. According to the regulator, the broker has been providing financial services or products in the UK, falsely claiming to be an authorised firm. Read more

de | cn | ru