The FCA does not currently regulate binary options brokers, The UK Government is currently debating on whether the FCA should regulate binary options in future
At present binary options are regulated by the UK’s Gambling Commission, but only in case, the
In the European Union the EU, member countries regard binary options to be a financial service as such they are regulated by the CySEC, the financial regulatory agency of Cyprus. As an EU member state, CySEC’s financial regulations and operations comply with the European MiFID financial harmonization law.
This means that although the FCA does not currently regulate binary options, firms offering binary options trading which operate as financial services firms in other EU countries, are able to do business in the UK .
In case of any doubt, where you think a broker offering binary options may not be trustworthy or legitimate, do not transfer money to them or provide them with your bank details.
Though UK binary brokers are not regulated by the FCA UK Forex brokers do!
As posted on FX4UK.COM