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Russia plans binary options regulation

Oct 06 2016
By
Forexbrokerz.com

The Central Bank of Russia (CBR) published and action plan for the financial markets (for 2016-2018) on Thursday, according to which the authority will come up with a stance on the regulation of binary options trading in the country by the end of 2017. The move is part of the CBR’s plan for “improving mechanisms for countering bad faith actions of professional securities market participants.”

Binary options trading forms a growing trend lately, and Russia is no exception. Currently, binary options trading is not illegal there, but it is not regulated either. The main concern for Russian authorities is related to off-shore brokers offering binary trading services and thus operating as foreign companies while in fact being Russian firms. So, the authorities are eyeing these companies with the intent of regulating them and trying to bring them back to the Russian markets with the aim of collecting more taxes and establishing more secure investment climate.

Until recently the Russian forex market was not regulated either. Russia-based forex brokers are required to obtain a license from the central bank in order to operate legally in the country since the beginning of this year. At the same time, foreign brokers are also allowed to target local citizens without any significant restrictions.

Recently binary options are becoming more and more notorious. European regulators keep issuing warnings and blacklists of binary options brokers. As a result, some EU authorities have expressed intentions to restrict this type of trading, which in fact is the closest thing to gambling. France and the Netherlands are in the midst of developing bills that would prohibit the public marketing of, binary options and other risky instruments. Germany is also considering the possibility, but has not made any steps yet.

Meanwhile, Belgium banned the distribution via online channels of over-the-counter (OTC) binary options, spot forex, and CFDs with leverage as of mid-August. Israel, on the other hand, banned trading in binary options earlier this year, however brokers stemming from this country continue to target traders outside Israel.
 

TAGS: russia  binary options  regulation 
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
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UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
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UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
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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 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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