Which? responds to FCA’s permanent ban on the sale of binary options

Gareth Shaw, Head of Money, Which?, said:
“We branded binary options ‘the UK’s biggest investment con’ after repeatedly exposing an industry riddled with rogue players using unfair contracts, rigged data and dodgy practices designed to trap people in a game they’re all but guaranteed to lose.

“Many people have lost vast sums of money – so this welcome ban should protect would-be investors. The regulator must now monitor the ban closely to ensure it stamps out the threat posed by these toxic scams.”