Legality of Binary Options

Legality of Binary Options

Northville : MI : USA | Mar 04, 2011 at 5:31 AM PST
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BEST Forex Binary Option Trading - Scenario For a Successful Forex Binary Options Strategy

One of the most frequently asked question is "Is Binary Options legal in my Country? "

The answer is, "Yes and No!". First off I have no idea the laws in every country in the world. We have almost around 195 countries in the world and I don't know the laws of each country and there's no way I can answer this question regarding laws of your country. I know in the US that binary options from what I understand is legal. We have a regulated binary options firm called Nadex. So from what I know it is legal in US but you may get different answers from different people, just like different views on complex tax returns shown to tax preparers will give different tax/refund amount.

Some binary options companies block certain countries from opening accounts with them. So you should avoid those companies in your country. Asking an attorney is an another option, but since this is such a small niche, I am sure your attorney won't know the answer for sure on it and may be you need to provide information regarding binary option to attorney.

In my personal opinion its just another way to trade the markets just like the stocks/forex/options/future accounts. You are trading based on the market. So its not a flip of coin, turn of a roulette wheel but its based on market(Indices/Forex/Stocks). It is going to be same price at the end of the day whatever the $ price, it will be same with both Binary Options companies and Stock Brokers. In simple terms, Binary Options offer different leverage than the stock brokers. Before invest you should do research on your own too and its advised not to put tens of thousand dollars or your retirement money into it. It is just a thing to play around with and earn some money on monthly/yearly basis.

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PaulJake is based in Chicago, Illinois, United States of America, and is a Stringer on Allvoices.
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