The emergence of new trading platforms or binary options brokers has been resplendent – there are currently over 400 trading platforms which is a long leap from the minuscule numbers that operated when binary options trading initially began in 2008.
With such high numbers, it is not possible for a single regulator to individually govern the Binary Options, Trading Software and Foreign Exchange industries. However, the increasing popularity of online trading has essentially led to the creation of various regulatory bodies with the primary objective to protect traders online. This objective is achieved by providing a number of watchdogs whose primary job is to oversee the best practices by brokers. Technological advances in recent years have led to a long list of brokers for traders to choose from, most of who provide traders with user-friendly platforms to trade apart from a horde of other alluring benefits.
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