Nowadays, the increased discussion of the regulation of cryptocurrencies, therefore, not surprising that right now in this area is beginning to appear a growing number of «unregulated» brokers.
The bitcoin price this year has undergone a significant decline, but new cryptocurrency brokers have rushed into this market. The situation is somewhat reminiscent of the beginning of the era of binary options. And what is most remarkable, these brokers are particularly successful precisely when the market falls.
If the binary options will move in the cryptocurrency sphere – this will attract unwanted attention from regulators will increase pressure on the cryptocurrency brokers.
Those who have experience with financial assets, most likely will be able to recognize these companies and will save your money, but inexperienced traders they can lure with promises of huge profits.
The regulatory framework for trading in the Forex market will be heavily modified and adapted to the conditions of the new market, but the lack of specific rules for cryptocurrency trade will create a huge risk.
Recently the FCA acts as a warning against such brokers, noting companies such as Novatrades, IDBTrades, Safemarkets, Brokers, Station, and Noble Capital House (NBH).
Listed brokerage company is most closely associated with the industry binary options and they most likely will cause great damage to the reputation of future legitimate companies.