Binary options trading has been under attack lately. First, Visa, and now Mastercard, will refuse to serve the binary options industry.
The payments giant has already stated that the maintenance of binary options harms the company’s brand. Moreover, the company equated binary options trading with trading such dubious products as psychotropic drugs and illegal purchase and sale of ivory. Indeed, the risks of binary options fraud are enormous. So much so that many countries ban their advertising and even the industry as a whole.
Mastercard has already issued a notice to its customers regarding binary options transactions. For example, in Canada, throughout its territory, no binary options broker is allowed to provide its services. So for Canada, this industry seems to be illegal. And in countries where binary options are recognized in the same category as gambling, a special code must be used if you want to fund your account.
MasterCard’s solution is not everything. There will be further restrictions. And if the industry does not become better regulated and implement best practices, then it is doomed.
