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Banning Binary Options ?


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117 replies to this topic

#101 UltraZoo

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Posted 28 May 2017 - 02:09 AM

Very interesting articles here... make me really think that Binary Options will disappear from the market in close feature... do you also think so?



#102 joe0074

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Posted 28 May 2017 - 03:46 AM

Of course not.

#103 JohnnyMch

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Posted 28 May 2017 - 01:30 PM

Of course not.

 

don't be so sure my friend.. go ahead and look at this article here:

 

http://www.forexnews...ons-altogether/

 

I mean if the CySEC wants to abort giving licenses to binary brokers and ban them completely, what would happen then ?


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#104 shaileshm

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Posted 28 May 2017 - 01:33 PM

don't be so sure my friend.. go ahead and look at this article here:

 

http://www.forexnews...ons-altogether/

 

I mean if the CySEC wants to abort giving licenses to binary brokers and ban them completely, what would happen then ?

 

 

This is interesting. Does cysec has the authority to ban binary options all over the world? Or will it be banned only in Cyprus?


Know Thy Setup. Know Thyself.


#105 JohnnyMch

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Posted 28 May 2017 - 01:55 PM

This is interesting. Does cysec has the authority to ban binary options all over the world? Or will it be banned only in Cyprus?

Cyprus is the main regulator of binary options. It cannot literally ban the industry but will stop giving licenses and this will definitely discourage traders to trade binary options. Therefore decent brokers will gradually and eventually remove this type of trading from their platforms, and we're gonna see less and less talk and interest about it.

There will always be brokers, but who's gonna protect the clients if the broker doesn't have any license or regulation ?

I just hope for a little more effort regulating the industry rather than leaving it completely and exposing clients to more fraud.



#106 jesusrcc

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Posted 28 May 2017 - 03:44 PM

Banning binary options instead of looking for ways to force brokers to comply with regulations and to spread information about unregulated brokers to future traders, looks to me the way to avoid the consequences of their own incompetence.

 


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#107 homero15

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Posted 28 May 2017 - 04:47 PM

Banning binary options instead of looking for ways to force brokers to comply with regulations and to spread information about unregulated brokers to future traders, looks to me the way to avoid the consequences of their own incompetence.

That is why we traders in US do not worry about banning BO, cus NADEX is a US regulated exchange and we can trade BO with a peace of mind.


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#108 joe0074

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Posted 28 May 2017 - 09:39 PM

don't be so sure my friend.. go ahead and look at this article here:

 

http://www.forexnews...ons-altogether/

 

I mean if the CySEC wants to abort giving licenses to binary brokers and ban them completely, what would happen then ?

 

It is not gonna happen. CySEC is nothing but crap.


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#109 shaileshm

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Posted 01 June 2017 - 02:48 PM

Secured Options (and InsideOption) owner arrested by Israeli Police

 

http://www.timesofis...rs-confiscated/


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Know Thy Setup. Know Thyself.


#110 joe0074

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Posted 01 June 2017 - 10:21 PM

I'm not worried about that. 

Not all binary option broker are scams and fruad like Secured Option or Banc de Binary.

Do some research to find the good one.


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#111 chalan8

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Posted 02 June 2017 - 10:29 AM

It is not gonna happen. CySEC is nothing but crap.

You are right about CySEC. It is the best that each country has regulation for BO brokers to do business according to do rule of the law. Such as USA and Australia....  CySEC license means shit when Banc de Binary and other so called licensed BO brokers by CySEC take advantage of traders


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#112 holli

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Posted 27 June 2017 - 03:45 PM

The point is that officially it is impossible to ban BO, this activity is not governed by law in many countries.



#113 Tripack

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Posted 28 June 2017 - 11:21 AM

The point is that officially it is impossible to ban BO, this activity is not governed by law in many countries.


Not on a global basis. But individual countries may ban bins as an online service, just like you couldn't buy weed online or buy counterfeit stuff in some. That is the "follow the money" process. You won't send your deposit by postal mail will you ?
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#114 BOedge

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Posted 28 June 2017 - 01:29 PM

Not on a global basis. But individual countries may ban bins as an online service, just like you couldn't buy weed online or buy counterfeit stuff in some. That is the "follow the money" process. You won't send your deposit by postal mail will you ?

 

Will be a long time until anything like banning bins online would happen at a global scale. Follow the money you say? Yup, way too much money in BO for anyone to give up the cake! Remember, government take their share of that cake. When the brokers do well it makes the tax man happy. Why do you think Israel only stopped BO companies from marketing to their own? The rest is talk. Over 100 companies no longer funneling their tax dollars into the public coffers will be too hard to miss.

 

Plus not all are black sheep and some protection schemes that some countries have worked out seem promising. We don't hear much bad stuff about NZ or Oz brokers, or those regulated by the UK gaming commission for example. CySec is a convenient fee producer that that little drop in the ocean jumped on, little else. Window dressing. If CySec goes another EU entity would fill that void pretty fast.

 

In the end the decent ones will remain.

 

In the EU alone it'd be years until they'd get anything done in unison. BOexit is not nearly as urgent as Brexit, so that'll give you some idea of what a potential timeline would look like, lol.



#115 Tripack

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Posted 28 June 2017 - 01:44 PM

What cake ? Binary options are so shady that there is no cake for tax, that is the nr1 reason why US banned bins in the first place unless their citizen carry on with completely non-regulated bucket shops in some remote islands, lol. The others are following even within EU :) The whole bins banning story is in fact about tax evasion, that is from end-customer side of the story. The other being that non-reg brokers are not concerned about sharing tax data.
So leaves the regulated ones, regulated by ONE single country, and yes different states can decide what to do with it. Unless the broker is in their country, there is no interest for TAX since most bins traders lose :D So why allow it ?

#116 BOedge

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Posted 28 June 2017 - 02:10 PM

Regulation has nothing to do with company taxation. Regulation is there to protect/tax the end user, not ensure that the government gets their share of corporate taxes. Corporate law already covers that.

 

A BO broker is a corporate entity. And as a corporate entity they are part of all the reporting that every corporate entity is subject to, and that includes tax reporting. Which, as you just described, would be rather favorable for the applicable country, especially since most traders lose anyways. Ca-ching says the gov. Taxes of course in the country they are located in. But we are a global village after all. Selectively turning off one tap there may result in having one of yours turned here.

 

So if there are over 100 BO brokers in Israel, do you really think they want to give that up! EU bans bins from Israel, then Israel starts buying their weapons from someone else or sells their oranges to another market. From that perspective BO is too small to risk the established flow of larger deals.

 

When a broker draws bad attention because they have overdone it then there is a lot of brouhaha for a moment but generally speaking, nothing will happen because no one cares enough except for the dollars rolling their way.



#117 Tripack

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Posted 28 June 2017 - 02:15 PM

Agree but regulation is one thing, tax another. But often they go hand in hand.
I.e. Do you know many German bin brokers ? Where does the money flow ? Out of Germany straight towards Cyprus (for the regulated ones). Do wgerman people pay taxes on losses ? I doubt so. Does the Cyprus bin broker pay taxes to Germany because they made money out of German cudtomers ? No...
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#118 holli

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Posted 30 August 2017 - 02:41 PM

Yes, you're right. Even if you allow binary options, the only way is to close off ways of withdrawing money.






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