Binary options trading in the US is a lot more intricate than one would think. For years the US lacked any local brokers and traders depended on the foreign brokers. But even that option had a catch. Numerous traders lost their money to scam brokers. Also, many brokers refused to accept US traders for their safety. Unlicensed binary options services killed many brokers. Presently the US has local dealers and isn't very generous for cross-border deals.
So although binary options trading is legal in the US, the world class brokers stand antagonized. Trading with an offshore broker can in no case be completely risk-free. So the binary options trading is legal in the US but getting a license is still a big deal. NADEX is the only licensed player.
So are Binary Options legal in the US?
Putting ahead the fact pretty openly, binary options are legal in the US. NADEX proves that. But the US trading laws can raise some chuckles. As per the law, US citizens are allowed to trade and are always in a no risk state. So who's catching up the risks? Of course, the brokers. These brokers are the only people who are liable to any kind of legal action.
Choose only US licensed binary options firms
A US citizen interested in binary options trading should always choose the authorized service providers. These companies have got the legal approval to avail the services in the country and accept US accounts as. Rules are rigorous, and that's what makes these licensed companies your best bets.
One Broker that has complete authority to serve the US clients is the NADEX. Binary trading is full of surprises and shocks. So what's better for traders is to trade as per the laws. In that case, the law is always going to help you for every issue of yours.
Another important point is to avoid any foreign broker. Many of the offshore biggies can be safe, but they don't complement the legal commitments that the US laws demand. So for any disputes with foreign brokers, the US laws would refuse to protect you right away. Avoid outside brokers is what this screams.
Now, there's one more reason you must not run the risk of trading with outsiders is that the US keeps on cracking down the companies without a license to trade in the country. So any foreign dealer that attracts US clients draws the attention of the US laws as well. They might just get blacklisted. So if you trade with a blacklisted firm, the law will sure disown any responsibility towards you.
A company that gets on the blacklist of an area limits its services there. So if you choose such a company, the services you get might just be missing some crucial points. The issues might even affect payment and customer support services. So why take the risk, just choose a broker with legal permissions of services.
So yes, binary trading in the US is totally legal, but we recommend you to take the services of a licensed broker. The US laws for binary trading are still in the development state. There can at any point of time be some significant changes in these laws. So it's better to choose a licensed broker for trading as others can anytime be warned or blacklisted for violation of the local laws. So if you trade with them, even you are at the same level of risk.