South Africa: The next promised land for binary options brokers?

[mlawson71]

Against the background of rising regulatory pressure upon binary options (and forex) brokers in Europe and looming bans even for the regulated companies, they are seeking new markets to expand and surprisingly enough one such market is South Africa where the size of the middle class is growing, along with the numbers of the really rich people. Small wonder then, that the forex and binary options brokers are flocking to the country. Many big brokers have had branches there for a while now, others are just obtaining licenses.

 

[Overnight]

Against the background of rising regulatory pressure upon binary options (and forex) brokers in Europe and looming bans even for the regulated companies, they are seeking new markets to expand and surprisingly enough one such market is South Africa where the size of the middle class is growing, along with the numbers of the really rich people. Small wonder then, that the forex and binary options brokers are flocking to the country. Many big brokers have had branches there for a while now, others are just obtaining licenses.

Trading binary options is like trading in ivory, yes? Bad for all involved?

 

[mlawson71]

It's basically gambling. The silver lining is that no innocent animals get hurt, but it's generally not a good thing for all the humans involved.