Binary options are claimed to be "inherently risky and complex products and are often traded speculatively." Both ESMA and several competent national authorities (NCAs), the DO document continues, "have observed that the supply of these products has been increasingly characterized by aggressive marketing techniques, as well as a lack of transparent information" . The number of retail client trading accounts of CFD and binary options providers based in the EEA was estimated to have increased from 1.5 million in 2015 to 2.2 million in 2017. Also, almost all NCAs noted that there are providers of binary options, with passports from other member states, that are offering services in their jurisdictions. Fair or not? We don't know, but what we do know is that many traders lost their money, perhaps the investment of a lifetime. So it has not been easy for them. Hopefully the investigation will continue and change their mind.
