Is OptionFair Regulated?
Many people say that the binary options trading business is very unregulated and subject to unfair practices. While it is true that there are some scam websites online, but it does not mean that binary trading is a fake thing. Legitimate sites such as OptionFair operate not only under certain regulations but also follow unwritten guidelines that may otherwise cost them a lot of business.
One of the premier binary options regulatory bodies is CySEC; those like OptionFair that fall under their regulation have to meet certain standards in the industry in order to carry their seal of approval. For those brokers that do not trade in the USA market, there is no better seal of regulating approval than that granted by CySEC. It is very important for OptionFair to be known as a web broker that is legitimate; that is the very reason they chose to fall under the CySEC regulation standards. Another way that OptionFair eliminates all the doubts about their legitimacy is by having a reputation of being a fair website to trade on and one that has very transparent policies. They believe that having at least some sort of regulation gives their many customers a little more peace of mind than other unregulated websites.
CySEC issues all it members a licensing number; OptionFair’s CySEC number is 216/13. This certification helps binary options websites such as OptionFair get approved to trade in European Union countries. It is a very lucrative market that all binary options brokers wish to be a part of. CySEC is one of the most innovative and forward thinking regulators in the binary options industry and because of that, those that fall under their regulations get a lot of respect. OptionFair is easily accepted to trade on in the European market.
One stipulation with CySEC is they do not allow those brokers that they regulate to give advice on what to trade or manage a customer’s accounts for them; if a website is doing that it is most likely one to be wary of and could very well be a scam. OptionFair avoids this type of thing at all costs.
A thorough internet search of reviews on OptionFair by former customers will reveal very few complaints about their website and reveal no hints that the site is a part of any scam. No site that deals with people that lose money from time to time is immune from complaints, but OptionFair goes out of their way to satisfy any complaints before they get to a point where someone needs to publicly complain about them. They do this by providing their customers access to an excellent customer service team. It is truly a site that prides itself on being very transparent and legitimate and that will help keep it toward the top of our list of preferred brokers.
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References and Further Reading:
1. London’s big bang: a case study of information technology, competitive impact, and organizational change (EK Clemons, BW Weber – 1990)
2. The IMF strikes back (K Rogoff – 2003)
3. A transaction level study of the effects of central bank intervention on exchange rates (R Payne, P Vitale – 2003)
4. Computer-implemented global currency determination (EM King – 2009)
5. The interplay between two stock markets and a related foreign exchange market: a simulation approach (E Corona, S Ecca, M Marchesi, A Setzu – 2008)
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