AI-assisted article. Check time-sensitive details with the original sources. Read the editorial policy.
FCA Ban
Binary options are fixed-odds bets on price movements, with full loss on wrong predictions. The FCA banned firms from selling them to UK consumers from 2 April 2019. Any current offer is probably unauthorised or fraudulent.
Sources: [1]
Scam Methods
Fraudsters advertise on social media and search engines, linking to professional websites with fake UK addresses. They manipulate software, fabricate payouts, and close accounts without returning funds.
Sources: [1]
Protect Yourself
Verify firms through the FCA Firm Checker before investing. Check authorisation and specific permissions. Contact the FCA on 0800 111 6768 if a firm is unlisted. Avoid unsolicited contact and pressure tactics.
Sources: [1]
Sources
Keep researching
Compare FX brokers · Explore prop firm profiles · Suggest a correction