US Traders – Is Binary Options in the US Legal?
So Is Binary Options Legal In the US?
US Traders – Binary Options Options
US Traders please be note that many binary brokers have shut their doors and services to US domiciled citizens, it started with Anyoption, No1Options and Topoption and soon after many of the smaller brands gave up on their US market share, locking their doors to US investors. Based on the CFTC decision, It is AGAINST THE LAW to solicit U.S. persons to buy and sell commodity options unless they are listed for trading and traded on a CFTC-registered exchange or unless legally exempt.
Many brokers who offer binary options services to US traders operate without the regulatory to do so.
NADEX.com is one of a fair few recognized US exchanges, offering US traders binary options trading on a US regulated exchange based in Chicago. For more information visit the Nadex trading platform. Other trading exchanges worth noting include CME or Cantor Exchange.
Trading with unregulated brokers is considered illegal, but the state tends to focus its action more on the broker accepting US citizens and than the trader. The CBOE, Chicago Board Options Exchange, was established in 1973 and provided a platform that could be used to trade options on. Later on these over the counter operations became regulated by OCC, Options Clearing Corporation, to ensure that traders were actually sticking to their word and buying and selling what they announced they would.
In 2007, the OCC suggested a change of rules that would allow trading binary options on the major markets. The rule was signed into law in 2008 after being approved by the SEC. The American Stock Exchange began to list binary options as the first stock exchange in the world. This happened in May 2008 and in June of the same year CBOE began listing binary options as well. For US traders, we always suggest trading with Nadex, as they offer the most variety among all US platforms.
If you have any experience we would appreciate if you could kindly share your experiences with your chosen US binary options broker or have any questions regarding any offer you are considering, please don’t hesitate to let us know and we will be happy to give you our review on the broker
Be warned that many channels are going to continue and promote binary options brokers for US traders, knowing that it’s illegal. If one choose to sign up to an unregulated broker who operates in the US water he or she chooses to do this under their own risk.
Thank you for reading this review