CFTC Files Charges against Banc de Binary

Attention is taken for the comments made here as the Israeli lawer who posted here said "reatment that seem to occur on a regular basis.
I think its HORRIBLE that there are so many scam forex brokers out there. Not only that, I’m even more disgusted by the fact that many of these companies operate from within my home country, Israel."
They are makeing bad name to there country that is all and we leave any ethnical issue .
 
Months ago I would get spammed with emails that promised easy wealth- with a link to BDB
I'm not a fan of the binary option. Its tough enough getting the price direction right without guessing if it will happen in the next 60 minutes.
So this makes three strikes against them
 
Yeah, I got the same spam. Some were even giving us a "secret system" on how to win! Guaranteed!! And totally free of any charge!
Let's just say . . . .I was not tempted.
 
If anyone still has any of that spam, sending copies to the CFTC would be worthwhile.
 
"...The CFTC acknowledges the Securities and Exchange Commission, the United Kingdom Financial Conduct Authority, and the Cyprus Securities and Exchange Commission for their assistance in the investigation of Banc de Binary..."


I want to ask, this is important:

Isn't Banc de Binary operates as a completely independent website and not included in the scheme of "White Label" Program SpotOption family?

CySec know about this scheme, issued by CySec license !


///////SpotOption will give more details about the Binary Options regulation at the IFX Expo, in Cyprus this week.

Some of the well know brands with SpotOption include Banc de Binary, iOption, DragonOptions, IkkoTrader, TradeRush and many more.
S.O. SpotOption Receives the First CySEC License

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May, 2012 - a Leading Binary Options platform provider, SpotOption''s affiliate company, S.O.SpotOption, has now officially become the only market maker (S.O. SpotOption) regulated by the Cyprus Securities and Exchange Commission....As a result, the CySEC deemed binary options as financial instruments falling under the scope of Law 144(I)2007 and recently announced that the industry is, in fact, is regulated.
Thus S.O.SpotOption was created, and as the only regulated market maker, S.O.SpotOption is considered a Cyprus Investment Firm (CIF), which means that they may enter into collaboration with other companies (white label) under their license.

“This is a major breakthrough in the industry,” says Pini Peter, founder of SpotOption. “We've worked long and hard to help get binary options the regulations it deserves, and we're proud of S.O.SpotOption''s creation to be a market making investment firm. Our clients deserve to work lawfully, legitimately, and safely, and I saw it as our obligation to make that happen for them.”
SpotOption | S.O.SpotOption Receives First Binary Options Market Maker License

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SpotOption is currently the only Binary Options platform provider, that can offer THE COMPLETE SOLUTION to licensed entities via a collaboration with SpotOption Exchange. Brokers can receive the technological platform from SpotOption Ltd., and the Binary Options liquidity from SpotOption Exchange.

This collaboration is all you need to offer Binary Options securely and successfully as a regulated broker!

SpotOption Exchange is the first licensed market making investment firm in EU, enabling Binary options trading. Headquartered in Limassol, Cyprus, SpotOption Exchange obtained its license in May, 2012, and is regulated by CySec under license number 170/12.
SpotOption | Regulation


S.O.SpotOption's main services and option pricing models include:

Market Making,

Risk Management/Complaints,

Liquidity Providing


sospotoption | sospotoptionsospotoption | sospotoption
Services - sospotoptionsospotoption

On some sites, the production of SpotOption, I met a link to this mechanism and the license, for example here:

TERMS & CONDITIONS | Capital Option

, and some (Banc de Binary) not.
 
I'm personally not sure if Spot Option is just a trading platform (like MT4) or if it's more deeply involved with the binary brokers that use it.
 
I'm personally not sure if Spot Option is just a trading platform (like MT4) or if it's more deeply involved with the binary brokers that use it.
Banc de Binary, iOption, DragonOptions, IkkoTrader, TradeRush and many more (sites for trading made SpotOption Ltd.), according to our colleagues from forexaffiliatesreview, are brokers only because use of the opportunities S.O.SpotOption, in particular license and supply of liquidity (the core of the system still is MT4 server - what do You mean?).
And all these binary brokers, they are very specific brokers, not quite full-fledged brokers, "White Label", - as they are called.
Staff of sites is very reluctant to speak about, but me (privately) is repeatedly confirmed that the sites work upon the scheme of "White Label".
Here are just a purely private opinion is not an argument.
 
From what I've heard, the SpotOption platform isn't the primary issue. The issue is that many clients of binary brokers, such as BDB, can't seem to get withdrawals processed in a timely fashion, if at all.
 
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