South African Binary Options Brokers
Most people’s first impression when you mention Africa is of poverty and a poor economic structure. However you may be surprised to realize that binary options in South Africa is a potentially rewarding prospect.
Regulations for Binary Trading within South Africa
Regulation in this industry has taken time to come into force in a variety of countries. This was certainly true for binary options brokers located in South Africa until approximately 2012. You will now find an array of regulations which must be complied with and which will be looked at closer later in this article. The lack of legislation did not mean a lack of binary options brokers. Some of these were locally based and operated to official standards with a properly approved license by the South African government. Unfortunately bad publicity has tarnished the image and reputation of many binary brokers, suggesting that they were illegal or scams. This led to many traders using foreign binary options brokers or even South African brokers based offshore. Thankfully the new regulations have now attracted new businesses and allowed existing ones to be properly registered; providing a genuine service to traders; no matter where you live.
South Africa and Binary Options Legislation
You will note that two bodies were created to supervise all financial instruments within South Africa; including binary options brokers. These organizations have strict guidelines which they enforce; the result is an assurance for the general public that approved binary options brokers are safe to use and can even help you to generate additional funds.
The Role of South African Binary Options Regulators
The FSB is very similar to most other government agencies. It was created to regulate all financial activities in South Africa and specifically binary options brokers. In fact, this body has been created for only this purpose; it does not focus on any other matters. The consequence of this is that it can focus on an array of financial instruments without distraction and provide the right level of regulations; in fact the guidelines supplied by these organizations are as advanced as you can find elsewhere in the world. Their role includes monitoring and supervising the stock markets, including the impressive Johannesburg Stock Exchange which provides a range of indicators stimulating and controlling the actions of many binary options traders. This is one of the reasons that it is closely monitored; to ensure no insider trading exists.
The FSB offers a wide range of features and covers the security of the capital markets, investment schemes and even insurance monitoring. In fact, although it supervises the binary trading markets, it does this by carefully and closely monitoring the work of the FAIS.
The FAIS Connection to Binary Options in South Africa
The FAIS operates under the FSB, it is tasked specifically with monitoring the financial services in South Africa. This includes the registration of all binary options brokers, supervision of binary trading and ensuring all firms are complaint with the relevant laws. Alongside this it is responsible with raising the profile, ensuring all financial bodies conform and comply with the necessary standards to improve the global profile of the South African financial markets.
Alongside checking the features provided by a firm specializing in binary options, you should always check to see if a South African broker is properly registered, this will help to ensure you do not fall foul of any scams.
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