Regulations Governing GlobalTrader 365
Being a new financial innovation as well as operating in the Over-The-Counter (OTC) market, the financial regulations that help to monitor the fiduciary standard of the binary options brokers is still in their infancy. To complicate matters, for any legal framework to have any real “bite” in the OTC market, they have to be accepted and adopted on a global scale. This is not an easy task as legislations for these financial regulations has to transcend national borders and with that sovereignty issues automatically comes into play. With different national interests at stake, until all the parties concerned can sit down together and work with a common objective towards regulating the binary option market, we will not be able to see a coherent regulatory body emerge to govern the OTC market as a whole.
Because of the above situation, Binary option brokers like GlobalTrader 365 have to decide where their operation should be based. Although some form of financial regulations exist in the U.S, the binary options market is still regarded as a grey area. There are still debates as to whether binary options trading is considered as financial trading or gambling. Hence, it is not surprising that companies like GlobalTrader 365 will choose to base their operations in European Union (EU) member states like Cyprus in order to be able to conduct a legitimate business operation within the EU. The European binary option market is certainly bigger than the binary option market in the U.S.
Of course being registered to broker binary options trading in Cyprus does have its own setback especially when many people regard countries like Cyprus as having little or no financial regulatory framework. Actually the situation is not as dire as many critics made it sound to be. Cyprus, being a EU member has to set of guidelines that recommended by the EU as a whole. It may be true that some regulations may not be as stringent as in the U.S, but they do serve to achieve their main purpose of ensuring that binary options brokers like GlobalTrader 365 maintain a certain level of fiduciary standard.
We mustn’t forget that as tough as the financial regulations that are in existence in the U.S, large scale financial fraud is still most prevalent in the U.S. We only need to look at the subprime mortgage crisis of 2008 to see scale of fraud that occurred even in a regulated environment as stringent as the U.S. Perhaps, what is more critical in assessing the credibility of a company is to discern whether the people running the business operations have any integrity. Without any integrity, no matter how many regulations that you have in place, fraud will still occur if the people behind running the company is out to scam their clients.
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