If you are wondering why you can not create a trading account at Banc De Binary from the USA anymore then this page will shed some light on the situation. As you may or may not know, Banc De Binary became the first European based binary options broker to receive full regulation in their home country. This country happened to be Cyprus and the regulatory agency is CYSEC, it is the Cyprus version of the US, SEC. Just with cooler outfits.
Anyway, in addition to receiving regulation with CYSEC, Banc De Binary wanted to also make Uncle SAM and the CFTC, SEC and all the goodly people in the good ole U.S.A happy. I know I am sugar coating it here, but essentially the CFTC told Banc De Binary to get to stepping out of the US before they lay the smack down. Ok, maybe it was not that exact words but from what I can gather, the process is on going and as Banc De Binary may put it, they have had conversations with the regulatory agencies of the US about becoming fully licensed, regulated and legal here in the US.
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In order to facilitate this process they made the decision to stop accepting new US traders. Existing account holders may still trade at Banc De Binary. We will update our site as soon as the situation changes, if it perhaps does so. In the mean time, this means that you have one less legit broker to deal with if you are from the United States. I’ve kept up to date with a list of US friendly binary options brokers on this page: http://www.fastbinaryoptions.com/usa-binary-options-trading/
Many people are even questioning is binary options trading legal at all in the US. Who the hell knows. Binary options are legal and exchanges like Nadex.com are certainly legal. Dealing with the offshore, OTC binary options brokers that we all love so much is a much more grayer area. They are considered gambling by some regulatory agencies, however the binary options instrument of exchange is totally legal. Even 60 minutes did a piece on the 2000 legislation that allowed credit default swaps and let people essentially buy insurance policies on contracts they did not own. Effectively betting on the outcome of an underlying asset without owning the asset. This is how binary options work.
Time will tell what happens in the US market, but with the latest moves we US traders have one less quality broker to trade with. Come back soon, Banc De Binary.