In the field of binary options, there are currently many binary options brokers who do not fulfill their obligations to traders. Simply put, most companies now are scammers . The risk of losing money when working with such organizations is very high. Many understand this and therefore try to find honest brokers licensed by an officially recognized Russian regulator in accordance with all laws. But do such brokers exist?
Brokers licensed by the Central Bank of the Russian Federation
As of 2023, there are no binary options brokers officially registered in Russia, and most likely there won’t be any in the near future. The main reason is that electronic and digital contracts in Russia are not regulated by law. In 2016, there were attempts in parliament to work in this direction, but things did not go beyond plans. Only the Forex Law has appeared, but this has nothing to do with binary options.
Based on such facts, it becomes clear that there is officially no options trading in Russia. But it cannot be said that it is illegal either. Digital contracts are not prohibited in the Russian Federation, but the websites of some brokers may be blocked by Roskomnadzor. You can freely trade binary options through any broker you like.
Since options are not prohibited, there are many brokers working in the CIS and Russia as well. There are many companies on the market focused on Russia, but they are registered in offshore zones. Why do most brokers register their activities in offshore zones? Because the laws on brokerage activities there are softer and taxes are lower, which, of course, is a decisive factor for all companies, since for any business it is important to increase profits at the slightest cost. The conditions of the Russian Federation, unfortunately, do not provide such an opportunity.
Are there alternatives?
However, do not rush to look for foreign brokers and open accounts where it is very inconvenient, because there are companies that are licensed, although private, but still by regulators:
- TsRFIN;
- KROUFR;
- TsROFR .
The Central Bank of the Russian Federation can also become a regulator, but this is only suitable for Forex brokers , since the Central Bank does not recognize digital contracts. But this is not suitable for everyone, since you will need to spend at least $2,000,000 and provide a package of documents that are not always easy to obtain. And there is always a risk of not getting a license, despite the fact that the money spent may not be returned in full.
Therefore, most binary options brokers are licensed by commercial regulators. This is done much easier and faster, and with fewer requirements.
What does this give to ordinary traders? If controversial issues arise and the broker violates its obligations, you can always contact the regulator in the hope of resolving the controversial situation.
Which brokers can you trust in 2023?
No one wants to lose their deposit once and for all due to fraudulent actions of a broker. Choosing a reliable binary options broker is difficult because there are many of them and each one promises ideal trading conditions. The best option would be to choose a broker who actually proves the transparency of his work and whose clients speak positively about him. Below you will find information about brokers that you can give preference to.
PocketOption
| TsROFR No. TSRF RU 0395 AA Vv0141 |
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The broker appeared in 2017 and offered traders favorable conditions for cooperation.
Pocket Option received a certificate from TsROFR No. TSRF RU 0395 AA Vv0141. Issued in the name of Gembell Limited. The license is continuously renewed by the regulator. No fines or proceedings were identified.
It can be argued that Pocket Option puts a lot of effort into making sure its customers feel comfortable doing business with it. You can start trading through this broker with $5. The company holds many tournaments, promotions and offers a number of different pleasant promotional codes and bonuses . Pocket Option also offers copy trades , express options and much more.
OPEN AN ACCOUNT WITH POCKET OPTION
Quotex
| TsROFR No. TSRF RU 0395 AA V0161 |
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The broker has a certificate from TsROFR No. TSRF RU 0395 AA V0161.
Quotex is one of the young brokers, as it started its activities in 2020. It does not lag behind the others and also offers excellent conditions to traders. Convenient and simple trading platform , one-click registration , many indicators , promotional codes for replenishing and canceling unprofitable transactions to increase capital and more.
The minimum deposit is only $10, and the option size is $1. A demo account is provided for testing and learning trading.
Binary.com
| Virgin Islands | Vanuatu | Malta |
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This broker began its activities back in 1999. But initially it was another financial company, not related to binary options.
Broker Binary.com has 3 licenses to conduct brokerage activities, but all of them are foreign.
Binary is constantly trying to develop and improve the terms of cooperation for clients. It invests a lot of money in software development. There are several proprietary trading platforms and many types of binary options to work with. The broker's transparency is confirmed by its licenses.
OPEN AN ACCOUNT WITH BINARY.COM
Deriv
| Malta license | Labuan License | Virgin Islands License |
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| Vanuatu License No. 1 | Vanuatu License No. 2 |
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The Deriv broker acts as a division of the Binary company and therefore has the same licenses, but in the amount of five. Thanks to this, the company can provide services in many countries around the world, including Europe and Asia.
Deriv has four trading terminals with different functionality, as well as about 17 types of binary options. Trading assets can also surprise even experienced traders, since you can use not only basic instruments, but also synthetic ones, which, if used correctly, can allow you to get much more profit.
Alpari
| Financial Commission License | License Saint Vincent and the Grenadines |
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Broker Alpari has been working in the trading field since 1998 and initially provided trading only on the Forex market. Recently, you can also trade binary options on the broker’s platform, which are called Fix-Contracts. The company has its own platform and separate accounts for contract trading. Traders are also provided with more than five types of options, brief training and convenient deposits and withdrawals.
Regarding broker licenses, there are two of them:
- Saint Vincent and the Grenadines;
- Financial Commission.
Conclusion
Even if a binary options broker is registered in an offshore zone, he still has the right to operate in Russia, having received licenses from commercial regulators and proven the transparency of his activities. You can obtain a license by fulfilling certain conditions. One of these is that the regulator’s insurance account must contain $20,000. Of course, the broker who receives the license deposits it into the account. This is done so that if controversial situations arise, the regulator can pay compensation to the client.
Of course, a license from a commercial regulator does not guarantee that the broker is perfect and you can’t expect any tricks from him, but if disagreements arise between the client and the broker, you can contact the regulator and receive compensation or resolve the dispute. If you have not yet made your choice, you can see even more companies in our rating of binary options brokers . Choose the most honest broker possible, and we wish you successful trading!
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