Once you are ready to choose a binary options trading site, the next step is to make certain that you are making the right decision. Mistakes can be costly. It can lead to an individual to lose their capital and even compromise both their personal information and credit rating.
An Overview of the Regulations that Binary Options Trading Sites Comply To
Binary options trading sites need to be compliant with industry regulations in order for them to be trusted by traders. Traders must take it upon themselves to research and verify the authenticity of the site and the licensing and regulation that governs its operations. Traders who fail to take the necessary steps to learn the importance of licensing and regulation will find themselves at a distinct disadvantage. As such, we advise all binary options traders to look into the legal aspects into the account before registering and depositing at any online trading site.
The most important component of any online trading site is its licensing. In other words you need to ensure that the binary options site has been fully licensed by an internationally recognized authority such as CySEC (Cyprus Securities and Exchange Commission) or any of the other accredited financial services authority. Additionally, the binary options trading site should be fully compliant with the rules and regulations as established by the licensing authority.
These are the leading legal binary options brokers in Canada:
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Licensing guarantees that traders have an alternative in the event of non-payment or general misconduct by the website in question. Traders run the risk of losing capital if unregulated binary options trading sites suddenly shut down. Things like segregated accounts, which protect traders in the event of insolvency or bankruptcy, are absolutely vital.
The sheer number of binary trading sites operating over the internet is astounding. With so many sites going live on a weekly basis, it becomes challenging for new traders to find out which sites are authentic and which should be avoided. It is relatively easy to register and start trading at any of these sites, but there is more to consider. One should always verify the licensing and regulation before registering and depositing at any binary options trading site. A quick search on Google can confirm the various horror stories that traders have encountered by registering and depositing at unregulated binary options trading sites. The loss of capital and profit is but one component to consider; you could compromise your personal information by submitting it to unregulated brokers.
Knowing all the risks and understanding that the wrong decisions can be detrimental to your financial well-being, we ensure that the binary options sites we feature are fully regulated and licensed. The binary options trading sites that we present have a proven track record. You can rest assured that you will enjoy top-tier trading in a safe, secure and trusted platform. Our goal is to showcase only the finest online trading sites, while avoiding those that do not meet our stringent regulatory and licensing requirements. It would be very easy for us to list a host of unregulated binary options brokers that do a good job of window-dressing for clients.
Our focus however is on quality over quantity. These are the aspects that you should consider when trading. All of the sites that we feature are suited to Canadian citizens and residents. Their offerings are tailored to local market conditions, and you can enjoy 30+ of the world’s finest brokers at your fingertips.
So Can You Trade Binary Options in Canada?
Financial trading is not found in the laws in Canada, despite the staggering fact that this country is one of the leading binary options promoters around the globe. However, it is important to note that there is no law in the country that prevents individuals from engaging in binary option trading. So, in the question of is binary option trading legit in Canada, the answer is yes. One has to simply remember that they should trade with brokers that comply with binary option regulation and possess licenses in countries that do allow this type of trading, even if those are not Canadian provinces but the countries in the European Union (that’s why CySec is an acceptable option).
Regulated Binary Options Brokers in Canada
To assist you in the process of finding online binary options brokers that will not give you any foreseeable problem, we encourage you to take a look at each of the available binary options websites that we have reviewed, authenticated and validated. These trading sites offer a wide variety of tradable assets, expert customer support and service, and generous bonuses and promotional offers to keep you satisfied.
As a new trader, you will find plenty of benefit with each and every one of these Canadian online binary options trading sites.
Opteck: Opteck features prominently as one of our stellar binary options trading sites. If you’re looking for a credible, proven platform to trade binary options, this is it. They offer safe and secure trading, a wide range of assets and an excellent educational centre to help you make the right trades. We strongly advise you to take a moment to check out this trading platform since it ranks right up there among the best of them. They offer full licensing and regulation, with a management team par excellence.
24Option: 24Option is one of those binary options sites that always ranks in the top echelons. It is listed among the crème de la crème since it offers all of the features, trading tools and customer service that you need to succeed. The trading platform is available 24/7 and traders can login at their leisure. As a new trader, you get to enjoy generous promotional offers when you register online or through mobile smartphone or tablet.