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UK Watchdog Updates Blacklist of Unauthorized Binary Options Brokers

“The FCA is not the only government agency to move against binary options” reports The regulator maintains a blacklist of binary option brokers based upon information received from consumers, partner agencies and from monitoring the online market.In what UK police have described as the biggest operation of its kind, officers swooped on the offices of 20 binary options brokers to review their compliance documents and gather intelligence on different types of investment fraud.In line with practices across most of the EU, the FCA has brought certain types of binary options within its regulatory perimeter alongside the implementation of the MiFID II, which came into force since January 3, 2018. The watchdog’s research in this area found the majority of consumers who invest in binary options lose money and that investors lost an average of £87,410 per day over the course of 2017.

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