More and more often I’m asked what the legal situation is surrounding binary options. Binary options brokers these days can be licensed specifically in Cyprus but also financial services licenses in UK, Belize & BVI are often used in order to comply.
If they’re not regulated, why invest with them? Why? Because they’re still potentially highly profitable. These days binary options broker reviews can tell you which brokers to trade with and which ones are disreputable. The world of forex companies did not grow from a government creating the industry, it was made from companies who stepped out before regulations existed.
Binary options trading legality on specific countries can be discussed at the website Binary Options Legal which covers most of the things you need to know before investing at a brokerage.
Also, my fellow Canadians might want to check out the details on brokers at Binary Options Canada. They cover the investments from a distinctly Canadian perspective.