Turkish regulator to sue binary options brokers and block their websites

Ever since Turkish regulator CMB (Capital Markets Board) blocked forex brokers from soliciting local clients without getting a local license many of them have simply shifted to offering binary options which they thought weren't of interest to CMB.

CMB however had different view on this matter and has moved quickly to cumber the excessive binary options Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term to Turkish clients.

CMB published the following document https://www.spk.gov.tr/apps/haftalikbulten/displaybulten.aspx?yil=2012&sayi=23 mentioning that it deemed several binary options brokers as committing a crime and will sue them as well as require local ISPs to block access to these websites for Turkish citizens.

CMB named:

• www.optionfair.com (IP No: 85.159.234.47)
• www.optionrally.com (IP No: 24.27.250.49 and 24.27.250.9)
• www.tradesmarter.com (IP No: 79.125.7.162)
• www.vopsiyon.com (IP No: 80.252.94.92) vopsiyon's website was taken down and CMB's warning was published on it, all clients are asked to withdraw their funds. This is probably the
• www.anyoption.com (IP No: 89.191.219.193 and 89.191.219.194)
• www.multiyatirim.com (IP No: 80.252.94.32) another broker based in Turkey - it site is now inaccessible, potentially its server was taken down by CMB as well

It seems CMB is taking this matter very seriously and renders binary options as non-financial market instrument hence categorizing it as a gambling product. CMB already filed complaint with local prosecutor and is going after these brokers and potentially after others as well.