CFTC is extensively working on creating a more organized trading environment for American traders, so they published a list of 23 new company that is offering binary trading services without being properly regulated. The list of all unregulated brokers operating the US market is also known as Registration Deficient List (RED).
At the moment RED contains 40 brokerage companies. The list was first presented to the public in September 2015 in order to help American traders avoid a scam or unregistered brokers. The situation on the binary market in the US is quite complicated, as only regulated binary exchanges are legal. The most popular binary exchange is NADEX.
Among 23 new RED brokers are also some brokers that have already been blacklisted by FBO like BinaryDAS, IvoryOption, LBinary, NRGbinary, and TitanTrade. Check out the full list of FBO Blacklisted brokers.
CFTC decided not only to warn general public, but all financial industry participants, organizations, consumer groups, exchanges, and associations. As already mentioned, binary trading in the USA is legal only when executed via regulated binary exchanges, like NADEX.
NADEX is very popular among traders because of easy to use interface that is created with a trader in mind. This exchange offers very popular binary options and assets as well as spreads trading, and interesting educational materials. Even though CFTC enhanced the fact the regulated status isn’t always a guarantee of superb service, with NADEX trading is safe and reliable as they take binary industry very seriously. Read full NADEX review.