Are Binary Options Legal in France?
France is the world’s largest binary options market. This investment proposition has become extremely popular in France and to an extent created a headache for the authorities. Have they labeled binary options trading illegal? Not quite.
French citizens are allowed to invest in binary options, although authorities have done their best to caution investors as to the risks involved.
Monitoring Binary Options in France
The lack of regulation of binary options brokers is the main preoccupation of French lawmakers when it comes to the legality of binary options. Worried with the lack of security investors have as a result of non-existent regulation, the French government has issued warnings.
The French Financial Markets Authority (AMF – Autorité des marchés financiers) has created a blacklist of binary options considered risky. The list consists of basically every major binary firm, which deems it slightly lacking in seriousness.
The AMF has even gone so far as to worn these firms that: “Non-authorized intermediaries (the brokers) may be subject to criminal penalties.” but is this tough stance for real?
Are binary options legal in for French traders?
Apparently, the French laws don’t have much to grasp to when fighting the binary brokers. More importantly, part of this fight has to be related to the inability of the French government to tax binary options companies. With so much French money leaving the country via traders’ deposits, and so little coming in, it is no wonder there is an attempt to “scare” the investors.
We have compiled a list of some of the most trustworthy, serious and professional binary firms:
- TopOption – The leader of the French market is an extremely safe place with which to invest, fully regulated and trustworthy.
- OptionWeb – They possess a big percentage of the French market as well, besides being the world’s largest binary broker and also regulated to operate in France and the European Union.
- StockPair – With an easy to use platform and many online tutorials, this broker is a great place to start
Another move by French authorities was set forth by the Jury of Advertising Ethics of the Authority of Professional Publicity Regulation (site), who have gone as far as penalizing two brokers of misleading publicity (ikkotrader and trader369). But how does all that influence the traders themselves?
French traders have no legal limitations when it comes to investing in binary trading. The market continues to thrive and lead the world markets, proof that at least some traders must be succeeding in creating real profits.
The governments concerns are at least partially understandable, although nothing has been done to allow binary brokers to become regulated in France, one reason for them functioning abroad.
Are binary options legal in France? Conclusion
The bottom line is that binary options are legal, and are risky and unregulated as well. Therefore the best solution for French and worldwide traders alike is to choose reliable brokers who have left a good impression and generated profits for a substantial amount of customers.