Apple Bans Binary Options Mobile Apps From the iTunes App Store

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Apple has prohibited binary options mobile apps from the iTunes app store. The technological giants made this announcement on Thursday (June 8, 2017). Section 3.2.2 of their rules states that Applications that aid in binary options trading are not allowed on their app store (iTunes). Users who uses Apple iPhone and are into binary options trading should opt for a web app instead.

Apple iPhone is a prominent smartphone in the market and most binary traders like to do the trading while on the move. This move to ban binary options mobile apps from the iTunes app store is therefore a major blow to the industry of binary options.

APPLEThe move is presumably one of the worst signs for the notoriety of the Binary Options industry. However, the ban adheres to the latest regulatory tendencies around the world with many leading financial regulators fining binary options brokers and forcing them to obey compliance guidelines.

The ban by Apple follows a recent announcement by The Cyprus Securities and Exchange Commission (CySEC) of considering banning binary options trading completely. Cyprus is one of the most prominent hubs for binary options brokers currently. This is after Israel prohibited the offering of such items in the country, and abroad. It also constrained all call centers of such agents to close down.

Belgium had also prohibited the dispersion by means of online channels of over-the-counter (OTC) binary options, spot forex, and CFDs with leverage in August 2016. France and the Netherlands are coming up with laws that would deny the promotion of risky money related instruments, and Germany is likewise considering taking comparable strides.

Right now, there are roughly 100 applications related with binary options trading, and presumably Apple has gotten so many client complaints. It not clear whether the ban would influence the current binary options trading applications, yet new updates of applications with binary options will not be permitted. It is likewise unclear whether Google will go with the same pattern and restrict binary options trading applications from the Google Play Store for Android gadgets.

Binary options are the most questionable over-the-counter (OTC) financial product. It is comparable to betting. Due to the current administrative pressure on the business and its undeniably negative notoriety, some binary options trading brokers for example, Banc De Binary have left the market. Others have changed their concentration to forex trading. An example is BDSwiss who have changed to Swiss Markets and BDSwiss Forex.

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