Trading in binary options has grown at such a fast pace that it has proved to be impossible to have one regulatory body overseeing all the different brokers. This makes it extremely difficult for anyone to create a definitive list of recommended binary options brokers. Put simply, the best broker for someone in the UK may not be able to trade in the US.
The rapid increase in technology has made it possible for people to trade in binary options regardless of where they are located in the world. This has resulted in several bodies; each of which operates within a certain part of the world but they do not necessarily share the same standards.
There are many instances of traders being dissatisfied with their broker. However, not all of these have a genuine complaint; some have simply been unsuccessful at trading. This highlights the issue that many traders face, how to tell which are reputable and which are not. Sadly there are plenty who are dedicated to making a quick buck and not to providing a viable service to traders. The USA has very strict regulations regarding brokers which are allowed to operate in the US; this has decreased the level of brokers available to traders who are based in the United States but improved the safety for those traders.
This does not mean that a non-US registered firm is a bad one; some do not wish to commit to going through the process of registering in the US as they are able to attract customers, from around the rest of the world.
It is possible to create a list of recommended binary options brokers in the US, every one of which wouldl be regulated by the Commodity futures Trading Commission (CFTC) or the National Futures Association (NFA).
Any broker can allow a trader from the US to use their platform. However, if an issue develops between the trader and the broker then the broker can be prosecuted by the US based regulatory body. This will result in heavy fines and penalties. The result of this is that any broker which is registered with one of these bodies has acknowledged their responsibilities and will do everything in their power to provide a genuine and fair service. Those brokers who have chosen not to register with one of these bodies can still accept US traders but are more likely to have unfair practices as they will attempt to avoid any action by the US regulatory body.
In general a broker offering binary trading to US traders will be offering a good service on a well designed platform, but, you must research the broker thoroughly first.
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