Established just eight years ago, the binary options industry has grown rapidly to become nearly as popular as foreign exchange (forex) trading, claims website BinaryOptionsRobots.co.
It reports that the phrase “binary options” now receives more than 110,000 monthly searches in Google, closing in on “forex trading” which gets 135,000. Israel has emerged as the hub of binary options; in 2014 The Time start-up incubator reported that 15 Israeli trading companies were posting annual revenues in excess of US$10m, and three in excess of US$100m.
Growth has been achieved despite media criticism of the alleged aggressive and misleading sales practices deployed by brokers to convert customers into real money traders.
“Like it or not, binary options and its associated products such as signals, robots and indicators is one of the fastest growing digital trends, with searches doubling over the past three years,” commented BinaryOptionsRobots.co owner Adam Green. “For many, they provide a simple gateway into trading the financial markets.”
Despite its rapid growth, the industry also faces several regulatory roadblocks: last July the Australian Securities and Investments Commission (ASIC) launched a crackdown on unlicensed retail brokers, and France and Belgium banned advertising of binary options products. Last month, SMN Weekly listed the most frequently warned against binary options brokers.
BinaryOptionsRobots.co has produced an infographic detailing the development of binary options since they received approval from the US Securities and Exchange Commission (SEC) in 2008.
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