Alpari UK Exiting from Binary Options, Cites Regulations
- Alpari UK has notified clients that it will no longer be offering binary options trading starting next week. The news comes shortly after they launched the product in September of 2013 using technology from SpotOption.
In a letter to client, Alpari UK has informed them that starting February 10th, they will no longer be offering binary options trading to clients as they stated, “We have taken the strategic decision to stop offering binary options due to regulatory considerations.” In the letter, Alpari didn't provide any additional information as to what the regulator considerations are, and as of publishing time, requests for comment from the broker by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates were yet to be answered.
The news comes as a bit of a surprise, as the broker only launched the product in September of last year using technology from binary options provider, SpotOption. In terms of UK Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, binary options fall under ESMA guidelines as a financial product and are available to market to EU and UK customers with a FCA or similar EU financial license. Among UK firms providing binary options trading, publicly traded IG Markets as well as GAIN Capital’s recent acquisition, GFT UK, both offer binaries to their customers. For Alpari, it's not a complete exit from binary options as they will continue to offer the product in their RU unit.
In a letter to client, Alpari UK has informed them that starting February 10th, they will no longer be offering binary options trading to clients as they stated, “We have taken the strategic decision to stop offering binary options due to regulatory considerations.” In the letter, Alpari didn't provide any additional information as to what the regulator considerations are, and as of publishing time, requests for comment from the broker by Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates were yet to be answered.
The news comes as a bit of a surprise, as the broker only launched the product in September of last year using technology from binary options provider, SpotOption. In terms of UK Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term, binary options fall under ESMA guidelines as a financial product and are available to market to EU and UK customers with a FCA or similar EU financial license. Among UK firms providing binary options trading, publicly traded IG Markets as well as GAIN Capital’s recent acquisition, GFT UK, both offer binaries to their customers. For Alpari, it's not a complete exit from binary options as they will continue to offer the product in their RU unit.