Is binary scheme lawful?

[Starmix]

It depends on the jurisdiction and the specific regulations of a particular country where binary scheming exists. Binary options trading is legal and regulated in some countries, including the USA, the UK, and Australia. However, it is illegal or heavily restricted in other countries due to concerns about fraud and investor protection.

Countries that permit binary options trading often have regulatory bodies that oversee the market. These bodies enforce rules to protect the investors and maintain market integrity. Binary options trading is considered a high-risk investment. There is a significant chance of losing your entire investment if your predictions are incorrect.

The binary options market has seen fraudulent activities, with unregulated brokers manipulating platforms or refusing payouts. Verify if binary options trading is legal in your jurisdiction. Only deal with licensed and regulated brokers. Also, you have to understand the terms and conditions provided by the broker. Be aware of your tax obligations related to earnings from binary options trading. Always approach binary options trading with caution, understanding the risks involved and ensuring compliance with local laws.

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[eLdavis]

There are tons of people who are into binary option trading here in my country, so am guessing it is legal.

 

[Starmix]

There are tons of people who are into binary option trading here in my country, so am guessing it is legal.

Also, in my country, it is happening, but those who are doing this aren't exposed. They do it secretly, it is because of shame, they are ashamed if people know they are scammed.