Are binary options legal in Brasil?
Warning: Do not invest in Binary Options!
With the introduction of binary options trading in Brazil, two doubts have emerged for Brazilian traders:
Are Binary Options legal?
Is it allowed to invest in Binary Options according to Brazilian laws
The answer to both those questions is an unmistakable yes. The binary options field is legal, and Brazilian citizens can deposit monies with binary options brokers.
Binary Options in Brazil
Contrary to common belief, Brazilians are permitted to transfer monies abroad, and invest in foreign countries. After decades of prohibitions which prompted illegal maneuvers, laws implemented in 2006 have legalized foreign investments for Brazilian citizens.
As a result, binary options are completely legit for Brazilians. Although Brazilian law prohibits local firms to offer financial instruments such as Forex and Binary Options, it does not limit in any way the investment in such tools outside of Brazil.
Although control of transfers to foreign countries is rigorous, the typical amounts invested in Binary Options are very low, and therefore don’t demand any further steps from traders.
Brazilian traders interested in investing high sums of money in binary options (values equivalent to tens of thousands of dollars), should verify with their chosen binary broker the destination of the funds.
It is best for such high profile investors to work with binary options brokers which do not operate from fiscal paradise countries (I.e. countries where financial activities are tax free), but rather allow funds to be transferred to the USA or England, for example.
Are Binary Options legit?
This question seems to be in the minds of many Brazilians, since binary options trading just recently arrived to that country. The answer is obviously yes, but we explain further.
Binary options come under great scrutiny because they are very high risk. In fact, statistically, most binary traders will lose their entire investments. As a result, some people mistakenly believe binary options are not legit, which they are.
With the odds stacked heavily against you, but with high payout waiting for those who succeed, it’s imperative to find good binary options brokers who are reliable, speak your language, and offer learning tools and binary options strategy knowledge.