Binary Options Trading is the wild west of financial trading. International Binary Options Brokers operate in a largely unrelated sphere. Numerous media outlets have reported countless stories of elderly American consumers duped out of their pensions and life savings by unscrupulous international Binary Options Brokers. The United States recently instituted a crackdown on illegal Binary Options Trading and Binary Options Fraud.
Binary Options Brokers committing Illegal Binary Options Trading and Binary Options Fraud face Administrative, Civil and Criminal enforcement action. The United States Commodity Futures Trading Commission (CFTC) and the United States Securities and Exchange Commission (SEC) can institute Administrative and Civil enforcement actions. Local, state and federal law enforcement agencies can criminally prosecute individuals engaged in illegal Binary Options Trading and Binary Options Fraud. The SEC published an Investor Alert entitled “Binary Options and Fraud.” https://www.sec.gov/investor/alerts/ia_binary.pdf.
The Times of Israel recently reported a civil enforcement action against a Los Angeles based Binary Options Trader. http://www.timesofisrael.com/us-freezes-assets-of-israel-binary-options-company-owner-in-alleged-16m-fraud/. The Binary Options Trader and his affiliate companies are accused of fleecing nearly 8,000 victims, most of whom are located in the United States. The network operated through a variety of shell companies located in the following locations: Anguilla, Bulgaria, California, the Marshall Islands, and Nevada.
Many Binary Options Brokers operate in a similar fashion. Through a network of shell companies, Binary Options Brokers conduct business from a variety of international locations. Countries where illegal Binary Options Trading and Binary Options Fraud originates include: Bulgaria, Cyprus, Georgia (country), Great Britain (United Kingdom), Hong Kong, India, Israel, Japan, Malta, Panama, the Philippines, Russia, Serbia, Switzerland, Ukraine and the United States.
In addition to the United States, internationally there have been crackdowns on illegal Binary Options Trading and Binary Options Fraud as well. In March of 2016, The Times of Israel published an expose into the Binary Options Trading industry in Israel. http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/. In response, the Israeli government is currently on track to fully ban the entire Binary Options industry. Furthermore, the Israeli government remains committed to cooperating with law enforcement in the United States to Administrative, Civilly and Criminally prosecute Binary Options Traders committing illegal acts.