The European Securities and Markets Authority (ESMA) has agreed to renew the prohibition of the marketing, distribution or sale of binary options to retail clients, in effect since 2 July, for a further three-month period.
ESMA has carefully considered the need to extend the intervention measure currently in effect. It considers that a significant investor protection concern related to the offer of binary options to retail clients continues to exist. ESMA has therefore agreed to renew the measure from 2 January 2019 on the same terms as the previous renewal decision that started to apply on 2 October 2018.
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The renewal was agreed by ESMA’s Board of Supervisors on 7 November 2018.
Next steps
ESMA intends to adopt the renewal measure in the official languages of the EU in the coming weeks, following which ESMA will publish an official notice on its website. The measure will then be published in the Official Journal of the EU and will start to apply from 2 January 2019 for a period of three months.
Still possible to trade binary options in EU
This ban only concerns platforms based in EU, which means leaving retail traders at the mercy of potentially even worse actors. Hopefully there are a couple of honest and fair brokers offshore where it is possible to trade safely binary options, such as Spectre.