Looking for binary options brokers that serve US customers? You may already have discovered that many brokers refuse to accept customers from the USA.
This may lead you to believe that binary options trading is illegal in the US, but this is not correct exactly. It is perfectly legal to trade binary options in the USA. Most binary options brokers are located offshore. Why do so many of them steer clear of dealing with customers in the USA? One of the only U. A — Consider BinaryMate. They have live webcam account managers to assist you with trades. Brokers bounce back with new platforms and able to accept US including PorterFinance.
There are numerous binary options brokers online who accept customers in the USA. Sadly, a lot of them are pretty dodgy. They look for unwary USA clients who do not do their own research on where the best binary trading sites are unlike you, since you are here. Thankfully, there is a growing selection of quality binary options trading websites that take US customers. Also fortunate, many of the best binary options brokers we have discovered do accept customers from the USA.
Brokers that accept US customers today may not tomorrow. The next thing many traders ask themselves is if they are doing any illegal trading binary options online. While we are not lawyers and this is not legal advice of any kind, you are not breaking any laws by trading binary options online unless there is something specific based on where you live. With that broad generalization out of the way, lets take a look at a few of the USA regulatory and licensing authorities at the Federal level. First off, before we start talking about offshore brokers, let us clear up the matter of whether trading binary options in the US is legal at all.
Not only is it legal, but there are actually several officially regulated binary options sites which are operated by exchanges located in the USA.
These companies are regulated by the CFTC. So that right there clears up the muddy question of whether trading binary options is legal in the USA at all. At this point in time however you are not going to find any offshore brokers who are regulated with the CFTC. There are brokers who are working on becoming regulated with the CFTC , but right now regulations are simply not all that clearly defined, and since the groundwork is still being laid, most offshore brokers are not regulated in the US or any other country as binary options brokers.
That said, some offshore brokers are regulated in their respective countries most brokers are regulated by a country somewhere in the EU. But generally under laws which govern other types of financial entities, such as casinos or private banks.
This provides a level of protection, even though it is not specific to trading activities. If an offshore broker claims it is regulated with the CFTC, you should be very suspicious. In time, some of these claims may be factual, but right now, they are not. Brokers that dodge questions about regulations usually are not regulated at all.
There is really no reason not to be up-front about it, since it does not by itself indicate a lack of good faith. If a broker admits to you upfront that they are not regulated, that actually indicates more trustworthiness since it is honest and forthright.
Other long time stalwart broker, 24option. Then not too much later one of our long time favorites also left, TradeRush. Why do so many brokers refuse to offer their services to customers trading in the USA if trading binary options is legal for USA traders? The reason has to do with a specific CFTC statement concerning commodity options. The wording is a bit confusing, and some brokers just prefer to steer clear so they do not make a mistake and upset the CFTC:.
What can you gather from this? Basically, a company offshore or otherwise must either be registered with the CFTC or that company may not allow you to trade commodity options—in other words, currencies and commodities.
This is why you will notice that the majority of offshore brokers which do accept USA customers will only allow you to trade stocks and indices think StockPair. TradeRush and a few other brokers are are the few that we are currently recommending on our site who do not accept USA customers. These companies are already talking with the CFTC about registration, however, and once those talks conclude, there is a good chance we will be able to add them to this list as well.
The brokers listed above have proved themselves to be reliable, transparent, and trustworthy. If you begin your search with the brokers we have listed at BestBinaryOptionsBrokers.
You can learn more about these brokers by reading our quick brokers review page. Enjoy binary options trading in the USA! Learn more about them in our binary option reviews. US Binary Options Brokers. Top list of US friendly binary options brokers.
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