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FCA Takes Charge of Binary Options, Warns Against Crypto CFDs

“According to the FCA, there are major concerns associated with binary options trading” reports The UK FCA has issued a communique highlighting that it is taking over the regulation of binary options starting from 2018.The regulator highlights that not only do the majority of consumers lose money while trading the product, but that binary options also cause clients to become addicted.Elaborating on the potential for fraud and the conflicts of interest between clients and their brokers, the FCA highlights that since 2012, binary options fraud has caused 2,605 victims to be scammed out of £59.4 million.

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