UK Binary Options Brokers
A regulated binary broker needs to comply with the rules and regulations of a specific governing body. In the UK this is the FCA. It is important to understand that there is a difference between being regulated by a body and being registered with one:
- A UK binary options broker who is regulated by the FCA is a firm which has met all the conditions laid out by the governing body and trades within its strict guidelines. It must be compliant with all rules at all times and the regulatory can randomly check them to assure they are complying properly.
- In contrast a registered broker is a firm which becomes a part of a regulatory body through an affiliation with a regulated firm. This is often the case with a broker which is a subsidiary of a larger broker. The main broker is regulated but he subsidiary is not; it is not subject to the same checks or compliance procedures although it is classed as registered.
This is an important difference; a registered business does not need to adhere to the regulatory body rules and can trade how it wishes! Of course, most registered businesses are in the process of becoming regulated so will comply with the set procedures.
There has been an explosion in UK binary options brokers and even the numbers of traders creating accounts. This is why it is essential to understand the role of the FCA and use only brokers who are regulated and approved.
The FCA replaced the FSA in 2013; in fact, the FCA was created to ensure one body focused solely on the financial markets. Any regulated UK binary option broker will be listed on the FCA site. The following are just some of the approved firms:
Banc De Binary
This broker complies with FCA and CySEC and offers an excellent range of assets as well as trading options. You can start trading with as little as £1, or deposit as much as £3,000 although the minimum deposit is set at £250.
This broker has actually been trading since 1974! IT created its online site in 2003 and offers standard stock market and currency trading options. In the last few years it has switched focus to the binary trading scene and provides a first class service to a wide number of traders.
This has become one of the most well known brokers in the world and is exceptionally good at providing technical analysis tools to help all traders; regardless of their level of experience. As well as offering returns as high as eighty five percent, it provides fifteen percent cash back on unsuccessful trades. With a low minimum deposit of £200 and trades starting at £25 it is easy to see why it is so popular.
This broker has become extremely popular in many European countries and provides a good array of trade options; including touch, short term and the standard price direction. You can open an account with just £200 and trade for as little as £5 using any of their two hundred plus asset options.