imgres

In a dramatic move, the preliminary investigations by the Judge of Rome, on the order of the Public Prosecutor of Rome, under request from Italian financial regulator Consob has directed Italian ISPs to block numerous binary options cites from appearing in Italy. Banned sites are ipotion.com, tradersmarter.com, bocapital.com, eztrader.com, startoptions.com, and anyoption.com.

According to the reports that were first posted by Italian language news sites late last month, Consob believes that binary options closely could resemble gambling and are the aforementioned firms are not in compliance with Italian financial rules.

Speaking on the matter, Lawyer Fulvio Sarzana, whose firm Sarzana and Partners
works on behalf of Italian internet service providers, and has also posted about the subject, said “Consob believes that binary options are more similar to gambling than to financial services.” He added that “Financial watchdogs in Italy had made complaints last year about binary options trading, which led to warnings, but these notices seems to be ignored by companies.” When asked of whether the current list of firms is final, and whether other binary options companies that are marketing in Italy are at risk of having their websites blocked, Sarzana answered “this is probably just the first step and I would be willing to bet that more binary options companies will be effected.”

This isn’t the first time that binary options are coming under scrutiny from regulators. Last year we saw the Japanese FSA send a note to brokers to suspend the marketing of new binary brands during the period that the regulator was working to create laws to govern the product. Also, in conduct similar to the current Italian policies, the Turkish Capital Markets Board had published a document in June 2012 that accused several binary options brokers of criminal activities and had ISPs block their IPs into Turkey.

As such, being a mostly unregulated financial product that carries its binary ‘win or lose’ payout, it’s only a matter of time before more regulators begin to provide their interpretations on whether binary options fall within their financial jurisdictions. Therefore, it is very possible that we will see more European regulators take aim at binary options brokers until a formal regulatory decision that is accepted by the EU is made. Also, as mentioned above, companies marketing in Italy, but that were unaffected by this wave of ISP blocking are vulnerable to further actions.

This story can be found at: http://forexmagnates.com/italy-banning-binary-options-blocks-ips/ and was written by: Ron Finberg.

Sadly it appears this will be a big blow for the industry as a whole as we could see more countries begin taking these same measures. We just simply need one of the regulators in the EU or the US to step up and regulate these companies so all can be well again. Let us hope they find a way!

16 Responses to “Italy Begins The Process Of Banning Binary Options (Blocking IPs)”

  1. avatar
    joe0074 - April 3rd, 2013 at 10:48 AM

    Do Binary options have no future now ?
    Will all brokers be closed and we have to find a new way to make money online?

  2. avatar
    Tianna - April 3rd, 2013 at 2:09 PM

    Go figure, finally find some work I can do at home (or work making money period) and they want to shut it down. God I hope not, I get that some people are upset they lost money, but no matter what you do in life to provide you have to do your homework. This is not something you just jump into without understanding at least a few strategies. Honestly after some trial and error I found this site and for it I am greatful to it’s author. I felt I was either on a sinking ship or a hamster running laps on a wheel. I know my husband especially will be awesome at this me so/so for awhile. The regulators are right in that binary is gambling, however investing in stocks (buying and selling tangible shares) is more risky these days. Companies come and companies go. Binary is better than stocks in my opinion and much better than gambling at Vegas. The casinos frown on counting cards but it the binary world learning patterns, signals etc make for far better results in payout. I’ve read tons of reviews on the majority of sites. Most of which were from folks who didn’t not read or understand well enough to even make a trade. You can’t just make a trade however and expect to win. Those bonus offers are crap in my opinion as well and most who take them don’t read the terms. So they complain accusing many sites of fraud (so unfair). If the Binary does become more regulated it will be because of tax evasion purposes most likely not complaints from uneducated complaints.

  3. avatar
    Tianna - April 3rd, 2013 at 2:22 PM

    No way Binary will be gone, it will just take time to get regulated. Stock markets want to much money to begin investing. As more people join Binary looking for a paycheck, they’re money will go to various other places (binary banks other countries etc) instead of there own country. So as the masses grow and complain the heads of states, countries etc will use the force of complaints to fuel the force needed to push for tax deductions at end of day (whatever time frame or win amount) and post info and warnings about the sites. You wait you’ll see, a squabble over regulations will lead to the approving and over all exceptance of Binary. It’s really a win win for heads of states for countries. They’ll get new tax revenue, use the peoples money to enforce it and educate the masses about it.

  4. avatar
    Tripack - April 3rd, 2013 at 5:10 PM

    Lol Tianna, ok think about it this way, and put yourself in the shoes of a country high exec that needs to find cash anywhere in a time of austerity.
    They will think, ok a casino pays serious taxes in my country. Binary options is a form of gambling that not only gets gambling money out of the country, not only get my citizens broke much faster than any local casino would, and I will need to support a minimal guaranteed lifestyle if they go completely broke, but worst of it all those thieves do not pay any taxes to my government. WTF ? Isn’t that a lose-lose situation ? heck yeah if the come and settle here, eventually I’ll regulate them some way, but since obviously nobody wants to come here I’ll ban them, that’s a win-win. Simple…

  5. avatar
    Brites - April 3rd, 2013 at 7:48 PM

    It wasn’t too long ago every election cycle had casino legislation on the ballot(the masses always shocked, how dare my government even consider a casino?). Fast forward to today their everywhere(physical, on-line, even on a bar stool I can place my bet).

    Italy’s move? cute, didn’t see that one coming. Agree…, this will gain momentum and as far as US citizens, you’ve got NADEX which for 90% of the bin population will prove to be an expensive education. Bins aren’t going away but I think the next generation will come in the form of the online state gambling schemes under development(heavy w/ immediate taxation). Or what will be left of the off shore industry in the months ahead will come together & develop some type of exchange(transparent, fair, commission based, deep pool(and not the little broker type of liquidity), & the regulator stamped. Given how far we’ve come in the last few yrs…, this one’s a pipe dream.

    The biggest blow to the industry will be a financial meltdown when the regulators start pointing fingers making Dodd Frank look like kid’s stuff. In the interim, I highly recommend you hit the withdrawal button often.

  6. avatar
    Brites - April 3rd, 2013 at 8:09 PM

    Coming up on the 2 yr anniversary of “Black Friday”, the day the on-line poker shops got shut down. Could be wrong but those client funds are still frozen? Don’t underestimate a bold regulator pulling a Black Friday on the bin industry. What’s the newest term I keep hearing about? “Bail-in”…

  7. avatar
    Rapture - April 3rd, 2013 at 8:58 PM

    The likes of marketsWorld who are regulated will do very well out of this move!

    I have gone back to them after they tidied up their cluttered new charts and its going very well.
    They are honest as to what they are, pay outs are like clock work, and even if some returns are in the 70 to 80% range they still out class most of the others. I have been getting 82 to 91% on gold in recent weeks.

  8. avatar
    Brent - April 4th, 2013 at 1:05 AM

    Sorry guys the future is NADEX for US based bins traders. Start incorporating NADEX with your offshore bins brokers.

  9. avatar
    AmjaDepp - April 5th, 2013 at 8:03 PM

    One thing is clear, binary option trading won’t disappear because it can be profitable and beneficial from both perspectives. From one side trader and from another it is also profitable business.
    As this trading method is quite young, there are brokers who treat their customers badly but the good thing is that these “bad brokers” will disappear soon. This industry is getting new regulations and it means that more and more scams will disappear each day from the market making our daily trading safer. Anyway, I haven’t faced any unfair brokers recently.

  10. avatar
    Singh - April 8th, 2013 at 10:57 PM

  11. avatar
    doobiedoright - April 9th, 2013 at 2:16 PM

    I do not see the bin market going away any time soon.it is really the only market the little guy can get into. Closing that would be a huge mistake .As far as calling it gambling…yes it kinda is but so is every investment in the world.
    the day traders of oil futures have done and will do far more damage to the world than a few bin traders! You can come for me after you take care of those crooks!

  12. avatar
    hedgehog - April 10th, 2013 at 3:43 AM

    I’m sure Brent is right- nadex.com will be the wave of the Binary Options future (or igindex.com for those overseas).

  13. avatar
    Tripack - May 5th, 2013 at 9:32 AM

    Not going away very soon, but once things will get enforced overall it will go very quickly, blurry future I think. It usually goes like this in business in general: small fishes get eaten by big one, this bins business will be no exception…

  14. avatar
    Smart Tarder - May 10th, 2013 at 8:35 AM

    I don’t know what happening between signalindex and signalpush but i think is good that competition makes providers give good results. I like to see this. I am sure it will make signalindex very big. they have many above 70%.
    2:2 today and 3:3 yesterday. :)

  15. avatar
    Smart Tarder - May 10th, 2013 at 8:49 AM

    Apologizing for the above comment. i posted it under a wrong topic.

  16. avatar
    Italy Tries to Ban Binary Options Trading with IP Blocking | Binary Options Trading Methods & Strategies - May 17th, 2013 at 4:50 AM

    [...] Italy Begins The Process Of Banning Binary Options (Blocking IPs) [...]

Have Something To Share? Leave A Comment Below!

You must be logged in to post a comment.


    Have Questions? Contact Me!

    Email: David@binaryoptionsdaily.com Skype: BinaryOptionsDaily

    Advertising Inquiries

    E-mail David@binaryoptionsdaily.com