News Flash: Charges Filed Against Banc De Binary
BinaryOptionsthatSuck.com Report: FBI is after BdB?
Charges have been filed against Banc de Binary by the CFTC, with the cooperation of CySEC and other EU supervisory agencies. What am I talking about? Charges of offering futures options to U.S. clients, failure to pay and not adhering to CFTC and SEC rules are listed among some other complaints. It appears that the talk of BDB negotiating with the CFTC to gain approval was a smoke screen. According to reports I have read this charade was covering an investigation into alleged misdoings by BDB, they were never in negotiation for CFTC approval. This new move by the CFTC comes after an earlier press release stating BDB was in talks for regulation was mysteriously retracted.
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Binary Options Brokers would Cease Working with US Clients
What are the complaints? Among other things BDB is charged with selling and marketing commodity futures to U.S. citizens. In the past the legality of offering non-exchange listed binary options based on futures products like gold, copper, wheat, corn and sugar was questionable. The warning issued alongside the charges against BDB state that it is in fact illegal for non-registered, non-regulated and non-approved brokers, dealers or otherwise to market said products to U.S. citizens. This is why other respectable brokers like 24Option have ceased offering options and brokerage services to U.S. clientele. As a point of note, Banc de Binary was not an approved broker before and will not be one now. There is a reason why we put our seal of approval on certain brokers and why our name is ThatSucks.com (former BinaryOptionsThatSuck.com). Some brokers suck, and that is just the plain truth.
Banc de Binary Retracts Press Release CFTC Fraud Advisory