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European regulators to ban binary options and crackdown on spread betting

Published

8 years ago

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European regulators revealed plans to outlaw one of the most popular trading products available to the public.

The European Securities and Markets Authority (ESMA) wants to ban the sale of binary options to retail clients.

The prohibition is part of a wider clampdown on the spread betting sector that would also see contracts for differences leverage (CFD) limits – the amount of risk/reward a retail investor can expose themselves to – dramatically reduced.

One year ago, City watchdog the Financial Conduct Authority (FCA), surprised the spread betting sector by unveiling its own plans to protect retail investors. A number of other European regulators followed suit and during this summer the matter was passed onto ESMA, so changes could be imposed Europe-wide.

ESMA said it will conduct “a brief public consultation in January 2018” on its plans. Once put in place, it would be the first time ESMA has used so-called “intervention powers” in financial markets.

The changes may come as a blow to some spread betting firms, which have booked bumper profits during 2017.

Others, of which CMC Markets has been very vocal on several occasions, believe the clampdown will help business by forcing rivals that focus on “lower-value” customers out of business.

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Zoltán is a self-taught publisher and events organizer who has developed several brands and services that have increased the notoriety of his company within multi-billion dollar industries. In 2018, he has become a TEDx speaker and talked about reputation management in the digital era. As Co-Founder of HIPTHER Agency, Zoltan has helped develop highly respected online news portals, virtual and in-person conferences that cater to multiple industries on 5 continents. Among the developed brands and services you can find online news portals that cover several tech industries, gaming, blockchain, fintech, artificial intelligence, and more. In parallel, the company has built a portfolio of annually organized boutique-style conferences in Europe and North America. All the events organized by his company focus on bringing a wealth of information about the latest innovation in several industries such as Entertainment, Technology, Gaming and Gambling, Blockchain, Artificial Intelligence, Fintech, Quantum Technology, Legal Cannabis, Health and Lifestyle, VR/AR, eSports and many more. Zoltan enjoys writing articles on all portals owned by the HIPTHER Agency, talking at conferences, hosting the weekly HIPTHER Talks Podcast, and loves spending time with his family. Zoltan is a duathlete who enjoys training for different international competitions which include running and cycling.

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