Registering with a binary options broker operating illegally in Europe is taking the risk of never seeing the money invested again, let alone the earnings. So why take the risk? It is important to know that in order to offer investment services in European countries a broker must have what is called a “licence” from one of the member countries of the European Union. Without this “licence” they do not have the legal right to solicit you by phone or accept your registration on their platform and much less to accept a deposit from you. However, many brokers operate illegally in Europe for the sole purpose of scamming you. We have been the victims of these scammers and that is why we have created this website, to give you the best information possible.
What is a “licence”?
Each country in Europe (and in the world) has a financial market authority. This authority is responsible for ensuring that the stock exchange and its financial players are properly controlled. For a company to be permitted to offer its services on European soil it must, therefore, request authorisation from the relevant authority.
The company is then subject to an investigation and has to comply with many rules, especially those that protect the investor, i.e. you. Such regulation is, therefore, the guarantee not only that your broker will give you back your money and your earnings without a problem, but also that their online platform is not a fake. Once authorised, the broker then receives a registration number. The main regulatory authority is CySEC.
Choosing an unauthorised broker in Europe is taking the risk of never seeing your money again and losing everything before even trying. Also be aware that, in the event of fraud, you will have no recourse because these illegal brokers work from tax havens. Therefore be very wary.