Binary Options Watch Dog – Why day traders need A WatchDog

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The growing number of frauds in the binary options industry led to many people complaining to local financial regulators in France, Belgium and the UK. These countries are still part of the EU, and CySEC-regulated brokers are supposedly allowed to operate in all EU member states, but this is no longer the case. CySEC had to make a move to save its reputation as a leading financial regulator in Europe. In JanuaryCySEC proposed changes in the regulatory obligations of companies providing binary options to retail traders.

The changes covered different parameters in terms of advertising, trading software, price quotes and duration of contracts. CySEC rules state regulated brokers must stop offering welcome promotions to clients in the form of bonuses and risk-free trades. This measure was expected to obstruct the wild hunting for new customers.

On the 1st of June, the proposed changes became fact. When you look at the new rules, one is clear: CySEC is trying to regulate the affiliates rather than the brokers. The Cyprus commission, headed by Ms. Demetra Kalgerou, has spent six months in creating a blacklist of keywords for affiliates.

Strange enough the list includes the keyword CySEC! Please, 'splain it to me, why? The watchdogs in Canada and France usually warn traders of potential scam brokers. CySEC is probably the only watchdog warning traders about the brokers under its own jurisdiction. If you read the numbers, you know the binary options industry is driven by the affiliates. Instead of only regulating advertising and affiliates, CySEC probably should have been taking actions to cooperate with independent price providers.

It would have been a job well done if the regulator had guaranteed brokers do not manipulate price quotes on the platforms. The attempt to remove 60 second options and to fix minimum contracts for 5 minutes was an approach in the right direction. That would have reduced the gambling attitude and addiction to binary options trading. CySEC is not able to guarantee a safe environment for traders, and it is obvious now the watchdog is trying to kill binary options.

The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

Skip to main content. Does the watchdog protect traders from scams? You are here Home. Is CySEC tightening regulations?

Advertising CySEC rules state regulated brokers must stop offering welcome promotions to clients in the form of bonuses and risk-free trades. Fixed strike price Minimum of 5 minute expiry time Sell back option. Affiliates are turning to unregulated brokers If you read the numbers, you know the binary options industry is driven by the affiliates.

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No doubt most traders have stumbled across Binary Options Watchdog in search of any helpful insight pertaining to a specific service, which consequently have raised some questions.

Is Binary Options Watch Dog a trustworthy source? Does Binary WatchDog have any hidden agendas? Such questions have also been asked by some of our blog followers and YouTube Channel subscribers as well. Im sure many of you have fallen prey to at least one or more trading scams in recent past.

My journey in binary options trading started over 3 years back, where i was eager to register with a scamming solution called PushButtonMillionaire. With its relation to financial markets and money-making possibilities, I jumped straight in without much hesitation. Of course by losing ALL my money I learned very quickly I had just been blind-sided by a scam-artist. Fast forward ahead, as a desperate rookie searching for the means to succeed in this business, BOWD referred me Mikes AutoTrader which grants free access to Mikes Private Signals Group on Facebook where i learned more than i ever could on my own regarding trading basics, proper methods of strategies and loads of reliable information, molding me to the independent trader i am today!

Binary Options Watch Dog was among the very first to stand up against these crooks and reveal their true intentions to the general public. As it stands, BinaryOptionsWatchdog.

No matter where your interests lay, rising to any top position will naturally produce envious enemies willing to tear you down by any means.

Impostors have even created there own websites with similar domain names to replicated Binary Options Watch Dog in efforts to steer visitors into their direction. Services provided by Binary WatchDog are enormously vast, spreading far beyond its specialty of exposing harmful scam services and brokers.

While bashing on questionable softwares is rewarding alone, BinaryOptionsWatchDog. You have some of the best and most concise reviews that I have ever seen! They are always informative and, being a newbie, I learn a lot from them. Sounds too sketchy for sure. Thanks Binary Watch dog for another great scam warning!

Take a look at the name too, not scammy at all. Binary Options Watch Dog is a name that has forever tattooed its permanent existence within the industry for years to come. As for myself, starting with zero knowledge and gradually evolved into the trader i am today, Im among many who owe much gratitude towards BinaryOptionsWatchdog. Many will continue hating our efforts against scammers, but we stand strongly united to drive these tyrants to hang to for their deception.

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