Always Avoid Unlicensed brokers!!! Only a few credible mentor would disseminate this information (Y) (Follow us and update you…

Always Avoid Unlicensed brokers!!!

Only a few credible mentor would disseminate this information (Y)

(Follow us and update your knowledge
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Why are unlicensed binary options brokers dangerous? Although officially outside EU/USA it’s not required for a binary options broker to be licensed, it is very much recommended to trade with a licensed broker. Some traders and many governments doesn’t care if a broker is licensed or not and they treat all them the same way, as if license doesn’t provide any advantage or goodwill. Actually, it does.

There are a few advantages for a trader. First, you have a chance to complain if you face any kind of fraud, like delay of payments, blocked account or manipulation of market data. CySEC has fined many brokers and the fines were not nominal. Second, a licensed broker cares of his reputation, because when a fine happens, this is a huge news in the industry and competitors will be happy to make such case as loud as possible. So in many conflicts you will be able actually to negotiate effectively, just telling the broker, you can go all the way to the regulator.

CySEC, based in Cyprus, is the most widely used regulator and it is also very reachable and active, but there are others, who work with binary options brokers, like UK’s FSA, BaFin from Germany, Spanish CNMV, Indian SEBI, – all good.

Only make sure, that the broker’s license is currently valid, as in some cases brokers were deprived of licenses due to various wrongdoings, or have abandoned regulators voluntarily.

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