Content of Penalty:
On 3 January 2018, binary options became a regulated investment product, meaning that all firms trading in binary options need to be authorised by FCA. Firms that are not authorised by the FCA and continue with binary options activities beyond that date will be acting in breach of section 19 of the Financial Services and Markets Act 2000 (FSMA), which is a criminal offence.
The Financial Conduct Authority (FCA) has today published a list of 94 firms without FCA authorisation that it understands to be offering binary options trading to UK consumers.
You can see the list of unauthorized binary options here.
Many of the firms in the list will use a trading name but will also claim to be operated or owned by a separate company which may be based overseas. In the list below, where relevant, FCA have included both the trading name, the 'Firm Name', and the operator/owner company, the 'Owner/Operator'.