Binary Options is a trading type that has drawn investors from beginners to skilled ones. It has become a way for those who are seeking to expand their investments. But, most people ask: is binary options trading safe? Is it legit? Here we will find out answers to this commonly ask questions as we move along.
Options trading has grown hugely since 2008 and in 2012 was reclassified as a financial asset. And from then on, this trading type had gain lots of trust from investors. Its established regulations are one of the reasons behind its popularity. It even surpassed the other famous forex trading in the frequently browsed term in most search engines.
EU authorities, such as the Malta Financial Services Authority (MFSA) and the Cyprus Securities and Exchange Commission (CySEC), among others, are regulating bodies of binary options. The Financial Conduct Authority (FSA) is also examining brokers to keep investors from illegal ones.
The answer to the question: is binary options trading safe? The answer is yes, as long as the broker you are working with is well-regulated and legitimate. Therefore, choose the right binary options broker before you start investing. Like any other trading type, binary options also have their own risk.
Recognizing risks and responsibly handling them are some of the methods you can apply to trade safely. The good thing about binary options is no risk of leverage, which means you are not going to lose more than what you invest.
As for a broker, we recommend you to try IQ Option. It is regulated and licensed by CySEC, which is among the major regulatory authorities in the world. It has an advanced trading platform that is user-friendly for traders of all experience levels. For beginners, the broker offers a wide range of educational resources for learning. Read Is IQ Option Legal in UAE to know more..IQ Option Dubai Review 2020