European Securities and Markets Authority (ESMA)
ESMA ceases renewal of product intervention measure relating to binary options
ESMA said it would not renew its temporary prohibition on binary options for retail clients because most national authorities had taken permanent national measures at least as stringent.
This page lists the regulators our sources name for binary options in six places, what each one published, and the public register each one provides where our sources describe one. It does not assess any firm or rank any regulator.
Regulators and Registers at a Glance
| Country or region | Regulator | What it published on binary options | Register named in our sources |
|---|---|---|---|
| Canada | Canadian Securities Administrators (CSA) | Multilateral Instrument 91-102, in force 12 December 2017 | "Are They Registered?" |
| United Kingdom | Financial Conduct Authority (FCA) | Permanent rules on retail sales, in force 2 April 2019 | Financial Services Register |
| European Union | European Securities and Markets Authority (ESMA) | Temporary prohibition, not renewed after 1 July 2019 | None named on this page |
| Germany | Federal Financial Supervisory Authority (BaFin) | General administrative act, applicable from 2 July 2019 | "Search companies" database |
| Australia | Australian Securities and Investments Commission (ASIC) | Product intervention order, effective 3 May 2021 | "Search ASIC registers" |
| United States | CFTC and SEC | Joint investor alert, 6 June 2013 | NFA BASIC database (named by the CFTC) |
Notes on Each Regulator
Canada. The CSA operate "Are They Registered?" to help investors verify whether securities industry professionals are required to register with the securities regulator in each province or territory where they do business. See binary options in Canada.
United Kingdom. The FCA describes the Financial Services Register as the official public record for all firms and individuals. For the FCA's guidance on scams and its warning list, see what the FCA says about binary options.
European Union. ESMA's notice said that most national competent authorities had taken permanent national measures. This page does not name an EU-level register of binary options providers, and we do not claim that one exists. See binary options in the European Union.
Germany. BaFin's "Search companies" database covers companies that hold BaFin authorisation or have completed notification procedures, including firms from the European Economic Area using the passport or notification procedure. It shows name, address, activities and authorisation types. See binary options in Germany.
Australia. ASIC's "Search ASIC registers" page lists registers including a professional registers search and a public warning notices register. We do not describe what any entry proves. See what ASIC says about binary options.
United States. The CFTC recommends searching the NFA BASIC database and says that some firms or individuals may be exempt from registration or may not be regulated by the CFTC. This page makes no statement about the current US position; see binary options in the United States.
How to Use This List
A regulator's name on a firm's website does not prove registration. Use the register on the regulator's own website, and use the contact details the regulator publishes. The FCA says some firms pretend to be authorised, so it advises using the contact details on its Firm Checker. For the full process, see how to check if a binary options broker is regulated. For what each ban covers, see binary options regulation by country.
Frequently Asked Questions
Is there one register for all binary options regulators?
Our sources do not describe one. Each regulator in the table provides its own register or database, and we do not claim an EU-level register of binary options providers.
Does a register entry prove a firm is safe?
No. The CFTC says registration and a clean disciplinary record will not protect you from fraud.
Why is the United States row different?
Our sources for the United States are a 2013 investor alert and CFTC guidance on checking registration. We make no claim about the current US position.
Does this list recommend a regulator?
No. It lists what each regulator published and where its register is. It does not compare regulators.
Sources and Official References
- Canadian Securities Administrators: Are They Registered?
- OSC: CSA Multilateral Instrument 91-102 notice (12 December 2017)
- FCA: Using the Financial Services Register
- FCA: FCA confirms permanent ban on the sale of binary options to retail consumers (29 March 2019)
- FCA: Protect yourself from scams
- ESMA: ESMA ceases renewal of product intervention measure relating to binary options (1 July 2019)
- BaFin: Search companies
- BaFin: press release on the ban on binary options (1 July 2019)
- ASIC: Search ASIC registers
- ASIC: ASIC bans the sale of binary options to retail clients (21-064MR)
- CFTC: Be Smart: Check Registration & Backgrounds Before You Trade
- SEC/CFTC: Investor Alert: Binary Options and Fraud (6 June 2013)
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.