Financial Conduct Authority (FCA)
FCA confirms permanent ban on the sale of binary options to retail consumers
The FCA prohibits firms acting in or from the UK from selling, marketing or distributing binary options to retail consumers. The rules are permanent. In force 2 April 2019.
The FCA prohibits firms acting in or from the UK from selling, marketing or distributing binary options to retail consumers. The rules are permanent, in force since 2 April 2019. The FCA confirmed these rules in a statement published on 29 March 2019.
What the Rules Say
The FCA prohibits firms acting in or from the UK from selling, marketing or distributing binary options to retail consumers.
The rules are permanent, in force from 2 April 2019.
The FCA confirmed the rules in a statement published on 29 March 2019.
The FCA estimated consumer savings of up to £17 million a year.
Scope and Exceptions
The UK ban also covers securitised binary options, which the EU measure excluded.
Regulator Warnings
Christopher Woolard (FCA): "Binary options are gambling products dressed up as financial instruments."
The FCA stated that, as the sale of binary options to retail consumers is now prohibited, "any firm offering binary options services to retail consumers is likely to be a scam."
How to Check a Firm
The Financial Services Register is the official public record for all firms and individuals (FCA).
The FCA says UK consumers "should only deal with financial services firms that are authorised by the FCA" and refers readers to its ScamSmart pages.
If a firm does not appear on the relevant register, treat that as a reason to stop and check further before sending money.
Frequently Asked Questions
What do the FCA rules prohibit?
The FCA prohibits firms acting in or from the UK from selling, marketing or distributing binary options to retail consumers under permanent rules in force since 2 April 2019.
Are securitised binary options included in the UK rules?
The UK ban also covers securitised binary options, which the EU measure excluded.
What warnings did the FCA issue regarding binary options providers?
The FCA stated that, as the sale of binary options to retail consumers is now prohibited, "any firm offering binary options services to retail consumers is likely to be a scam." Christopher Woolard stated: "Binary options are gambling products dressed up as financial instruments."
Does this page address individual liability?
This page summarises what the regulators' published rules say. It does not address whether an individual could face liability. Seek independent legal advice.
Sources and Official References
- FCA Confirmation Statement (29 Mar 2019): https://www.fca.org.uk/news/statements/fca-confirms-permanent-ban-sale-binary-options-retail-consumers
- Financial Services Register Guidance (FCA): https://www.fca.org.uk/consumers/using-financial-services-register
This page summarises what the regulators' published rules say. It does not address whether an individual could face liability. Seek independent legal advice.
This page is published for informational and legal transparency purposes only and does not constitute financial, legal, or tax advice. Regulations change frequently across jurisdictions. Always consult official financial regulatory circulars (e.g. Bangladesh Bank, BSEC, FCA, CySEC) or qualified legal counsel before engaging in foreign exchange or derivative trading.