A leading binary options broker Banc de binary decide to share its views on unregulated brokers. These brokers have been on a rise over the past few years. Banc de binary says these brokers are fake and are preying on unknowing traders as they pose to be the real deal.
No Regulation is not Safe
Also the reason why unregulated brokers are not safe is because there is no authority to keep them in line. This provides a gap for malpractice as they are not putting the clients interests first. Examples of such are bonuses with confusing terms and conditions, withdrawal issues, cold calling and fake and scam auto trading software. Furthermore some trading platforms are rigged in favor of these unregulated brokers.
So as traders we are aware that online trading carries risk. Now these risks are just multiplied when you choose a broker that is not regulated.
Soliciting clients is also another trick that these unregulated broker use, such as sneaky and misleading marketing materials and ads on their sites and adverts. A great benefit with regulated brokers are the fact that clients funds has to be kept in separate bank accounts from that of the company for safety and so they cant be used for other reasons. As opposed to unregulated brokers who might say that but most likely its not true. No oversight authority means they can actually do as they please with your money.
Its pretty easy to find a regulated broker. Firstly Botsa site only recommends regulated brokers of which you can choose which suits you. Also regulated brokers have to disclose their regulatory status and license number on the websites. So you can easily look them up on the necessary regulation boards site to verify their status.
BOTSA views on unregulated brokers
From the beginning we at BOTSA have decided to never put any broker that is not regulated on the website. We only recommend the best regulate binary options brokers to our clients. We do this because we want traders to experience binary options in the best way possible. You may have noticed that there is a stigma attached to options trading. We believe that due to so many unregulated brokers taking advantage of vulnerable traders. Thus creating a scam tag around binary options trading. truth is binary options trading is not a scam. But there are so many people (gurus) and software's as well as brokers that are fakes and unscrupulous so you must be careful. Use trusted sources such as this site for info and direction.
Banc de Binary was the first binary options provider to be regulated by CySEC. Since it was founded in 2009,
Banc de Binary has grown into one of the world’s most successful binary options brokers. It was one of the first brokers of its kind to launch onto the market and since then, has always strive to keep ahead of competitors by offering traders top notch services such as :
- user-friendly trading platform.
- educational materials.
- customer support team.
So these positive aspects substantiate their dedication to improving and delivering a high level of service to all their customers.