Best USA Binary Options Brokers in 2014

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To trade, all you need to do is bet on whether the price of something will rise or fall below a certain amount - if it is correct, you win and get paid. If not, you lose all of the money you originally invested. You can choose various commodities to trade in such as gold, oil or stocks etc.

The value of a Binary Option is made up from the value of the asset you want to trade. For example, you my binary options account uk bet at 2. You are not buying or selling the gold, just predicting whether the price of it will rise or fall. Time periods involved tend to be very short 5 or 10 minutes but some firms offer longer periods to bet over. Action Fraud has received reports June - May about binary options in the last year, with an average of 27 reports made per month.

Those who have mostly reported are men who have being paying via debit or credit card. Reports of binary options fraud which are made to Action Fraud are assessed by the NFIB and sent to law enforcement for investigation.

The City of London Police earlier my binary options account uk year arrested a year-old man from Essex who was alleged to have been the controlling force behind Base2Trade, which is now in liquidation. The company sold fraudulent binary options trading from three offices in the City of London; located on Bishopsgate and New Broad Street and in Tower He has been released on bail until August.

If this is not the case, any binary options that the firm offers will not be regulated my binary options account uk by the Gambling Commission or by the FCA.

However, other European Union EU countries consider binary options to be a financial, rather than a gambling product. This means that although the FCA does not currently regulate binary options, firms offering binary options trading which operate as financial services firms in other EEA countries, are able to do business in the UK and consequently appear on our Register of financial services firms.

Platforms are set up all the time to appear legitimate, but are actually fake. Victims who reported to Action Fraud wanted to share their experiences, one said: I declined this offer. Despite numerous phone calls to the office for someone to call with my account details, no one has returned my calls.

A second victim said: The account grew and showed good returns. All the transactions were done by debit from two of my credit cards. I was given their my binary options account uk details to enable me to do a wire transfer, but did not use that function. You are here Home. When do Binary Options become fraudulent? Fraud occurs when Binary Trading Platforms: Offer a higher than average return on an investment. Refuse to credit customer accounts. Break all contact with the customer.

Manipulate software to distort prices and payouts. Victims of Binary Options Fraud share their experience: If my binary options account uk doubt, where you think a firm offering binary options may not be trustworthy or legitimate, do not transfer money to them or provide them with your bank details. Be mindful of any bonus structures and clauses preventing you from withdrawing funds.

The Gambling Commission advises that My binary options account uk consumers should research my binary options account uk market carefully before participating in such activities. Check whether a company holds an operating licence from the Gambling Commission by searching the public register of licensees.

If you think you have been a victim of fraud you should report it to Action Fraud by calling 20 40 or by using the online reporting tool.

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These and other questions are of concern to novice and experienced traders alike — and we want to help you answer them. Links to relevant official guidelines are also included. This change is significant, as it may indicate a move from viewing binaries as gambling, into more mainstream financial income. For the current tax year, the advice below remains accurate.

HMRC looks at all relevant circumstances to make decisions on tax liability. However, it is important to note that the correct treatment of any financial transaction or investment comes down to a question of fact:. A transaction with a spread betting firm is a good example of this contextual approach; i. For most individuals, HMRC is likely to consider this activity as betting, which means any profits made from it will be outside the scope of both Income Tax and Capital Gains Tax.

However, if that same transaction is carried out for commercial purposes; for instance, if it is made strategically as a hedge to offset the risks attached to direct investment in a security , any profits that arises from it might be regarded as part of a wider pattern of activity attracting tax liability.

For more information on this, see guidance note BIM The consequence of purely speculative, gambling or betting activity is that profitable transactions from it do not generally attract a tax charge.

However, the potential downside of this from your point of view is that you cannot claim tax relief on losses from this type of activity. An option, in the eyes of HMRC, is an agreed right to buy or sell an underlying asset at a specified price within a specified timeframe. It tends to have an inherent value in itself which carries CGT implications. See CG for the formal definition. Binary options present individuals with the opportunity to benefit from fluctuations up or down in, for instance, the price of individual shares or the performance of indices such as stock markets or currency markets.

These are derivative products; which means you do not have any ownership in the underlying asset at no point do you own the share in question, for instance. In fact, there are only two possible outcomes once the option expires: HMRC will almost always regard this as a form of gambling: Cases that have gone before the courts help to shed light on this.

A more recent case Hakki v Secretary of State for Work and Pensions [] EWCA Civ concerned a professional poker player who made a living through his winnings and who was facing a child maintenance payment order from the Child Support Agency. The Court of Appeal once again confirmed the general principle that gambling is not a trade.

So even if your only source of income is from binary options profits, it seems unlikely at present that profits would be deemed liable for tax. But do not rule it out completely. The answer, in the majority of cases, is likely to be no as it is not classed as income for tax purposes. But as ever with tax, it all depends on the context.

Use this general guidance and consider your position carefully. An accountant with specific expertise in gambling and financial trading activities should be able to assess your particular circumstances and provide an opinion on potential liabilities.

Looking for a reliable, reputable platform to conduct your binary options trades? Check out our no-nonsense reviews of the best sites.