Is binary options trading legal? Country-by-country guide
By Broksal Team, investing in forex and CFD markets since 2017. Updated . How we test
Binary options are legal in most countries of the world, because no law prohibits them there. They are banned for retail traders in all EU countries, the UK, Australia, Canada and Israel, and allowed only on licensed exchanges in a few places such as the United States. Below you will find the status in all 197 countries, with the regulator and what the rules say.
155countries where binary options are legal
5legal only with a licensed exchange or broker
37banned for retail traders
Trading from a country where binary options are legal?
Open Pocket OptionPocket Option offers a free demo account and a 50% bonus on the first deposit with the code 50START.
How we classify each country
We start from one rule: if no law or regulation prohibits binary options, trading them is legal. That is the case in most countries, where binary options are simply not regulated as a separate product.
- Legal No law prohibits binary options. There is no local licence for them, so residents use international brokers. Where the regulator has also issued warnings about unlicensed brokers, we add the note Regulator warnings. Such warnings target specific firms, not the product.
- Legal, licensed only Allowed only through locally licensed exchanges or brokers under strict rules.
- Banned Selling, marketing or offering binary options to retail clients is prohibited.
A ban is aimed at the firms that offer binary options, not at individual traders. In practice it means that licensed brokers will not serve you and offshore brokers are not allowed to.
Binary options legality in every country
Jump to: Europe · North America · Latin America & Caribbean · Asia · Middle East · Africa · Oceania
No country matches your search.
Europe 46 countries · 14 legal · 1 licensed only · 31 banned
| Country | Status | What the rules say |
|---|---|---|
| Albania | Legal | No binary-options-specific ban or framework was found. Residents typically use offshore brokers that are not supervised locally.Regulator: AFSA (Albanian Financial Supervisory Authority) |
| Andorra | Legal | No binary-options-specific ban was found. Investment services require local authorisation, and residents who trade binary options typically use foreign brokers.Regulator: AFA (Andorran Financial Authority) |
| Austria | Banned | Since 2019, a permanent national product intervention measure has banned the marketing, distribution and sale of binary options to retail clients. It replaced ESMA's 2018 temporary EU-wide ban.Regulator: FMA (Financial Market Authority) |
| Belarus | Legal | Belarus licenses forex companies, but no binary-options-specific framework or ban was found. Residents who trade binary options typically use offshore brokers.Regulator: National Bank of the Republic of Belarus |
| Belgium | Banned | An FSMA regulation in force since August 2016 bans the distribution of binary options to consumers through electronic platforms. The ban also covers other short-term and leveraged OTC derivatives.Regulator: FSMA (Financial Services and Markets Authority) |
| Bosnia and Herzegovina | Legal | No binary-options-specific ban or framework was found. Residents typically use offshore brokers that are not supervised locally.Regulator: Entity-level securities commissions |
| Bulgaria | Banned | Since July 2019, a permanent national measure has banned offering binary options to retail clients in or from Bulgaria. It mirrors ESMA's earlier temporary ban.Regulator: FSC (Financial Supervision Commission) |
| Croatia | Banned | HANFA has adopted a national product intervention measure banning the marketing, distribution and sale of binary options to retail clients. It follows ESMA's 2018 temporary EU-wide ban.Regulator: HANFA (Croatian Financial Services Supervisory Agency) |
| Cyprus | Banned | Since 2019, a permanent national measure has banned the marketing, distribution and sale of binary options to retail clients. Cyprus-licensed firms cannot offer them to retail clients anywhere in the EU.Regulator: CySEC (Cyprus Securities and Exchange Commission) |
| Czech Republic | Banned | The CNB has adopted a national product intervention measure banning the sale of binary options to retail clients. It replaced ESMA's 2018 temporary ban.Regulator: CNB (Czech National Bank) |
| Denmark | Banned | Since 2019, a permanent national product intervention measure has banned the marketing, distribution and sale of binary options to retail clients.Regulator: Finanstilsynet (Danish FSA) |
| Estonia | Banned | Estonia's regulator has adopted a national measure banning the sale of binary options to retail clients. It follows ESMA's 2018 temporary ban.Regulator: Finantsinspektsioon (Estonian FSA) |
| Finland | Banned | In 2019 the FIN-FSA decided to ban the marketing, distribution and sale of binary options to retail clients, replacing ESMA's temporary measure.Regulator: FIN-FSA (Finanssivalvonta) |
| France | Banned | A permanent national measure has banned the marketing, distribution and sale of binary options to retail clients since 2019. The AMF also regularly blacklists unauthorised online trading sites.Regulator: AMF (Autorité des marchés financiers) |
| Germany | Banned | BaFin has adopted a national product intervention measure banning the marketing, distribution and sale of binary options to retail clients. It replaced ESMA's 2018 temporary ban.Regulator: BaFin (Federal Financial Supervisory Authority) |
| Greece | Banned | Since 2019, a permanent national measure has banned the marketing, distribution and sale of binary options to retail clients.Regulator: HCMC (Hellenic Capital Market Commission) |
| Hungary | Banned | Since April 2020, a national product intervention measure has banned binary options for retail clients. ESMA endorsed it in an opinion of 8 April 2020.Regulator: MNB (Magyar Nemzeti Bank) |
| Iceland | Legal, licensed only | As an EEA state, Iceland applies MiFID II, so only authorised firms may offer derivatives. No Icelandic national binary options ban was found in ESMA's list of national measures, so the exact retail status could not be confirmed.Regulator: Central Bank of Iceland (Financial Supervision) |
| Ireland | Banned | In 2019 the Central Bank of Ireland used its product intervention powers for the first time. The measure permanently bans the sale of binary options to retail clients.Regulator: Central Bank of Ireland |
| Italy | Banned | Since 2019, a permanent national measure has banned the marketing, distribution and sale of binary options to retail clients.Regulator: CONSOB |
| Kosovo | Legal | No binary-options-specific ban or framework was found. Residents typically use offshore brokers that are not supervised locally.Regulator: Central Bank of Kosovo |
| Latvia | Banned | Latvia has adopted a national product intervention measure banning the sale of binary options to retail clients. It replaced ESMA's 2018 temporary ban.Regulator: Latvijas Banka (Bank of Latvia) |
| Liechtenstein | Banned | The FMA bans the marketing, distribution and sale of certain binary options to non-professional investors in and from Liechtenstein. Since February 2025 the ban has taken the form of a general ruling.Regulator: FMA (Financial Market Authority Liechtenstein) |
| Lithuania | Banned | The Bank of Lithuania has adopted a national measure banning the sale of binary options to retail clients. It follows ESMA's 2018 temporary ban.Regulator: Bank of Lithuania |
| Luxembourg | Banned | The CSSF has adopted a national product intervention measure banning the sale of binary options to retail clients.Regulator: CSSF (Commission de Surveillance du Secteur Financier) |
| Malta | Banned | Since 2019, a permanent national measure has banned the marketing, distribution and sale of binary options to retail clients.Regulator: MFSA (Malta Financial Services Authority) |
| Moldova | Banned | Since 21 July 2025, Law No. 177/2025 has banned the marketing, sale and distribution of binary options, with criminal penalties. Derivatives traded on a regulated market or MTF are exempt.Regulator: CNPF (National Commission for Financial Markets) |
| Monaco | Legal | No Monaco-specific binary options measure was found. Financial activities require local authorisation, and residents typically use foreign brokers.Regulator: CCAF (Commission de Contrôle des Activités Financières) |
| Montenegro | Legal | No binary-options-specific ban or framework was found. Residents typically use offshore brokers that are not supervised locally.Regulator: Capital market regulator |
| Netherlands | Banned | The AFM has adopted a national product intervention measure banning the sale of binary options to retail clients. ESMA endorsed it in March 2019.Regulator: AFM (Dutch Authority for the Financial Markets) |
| North Macedonia | Legal | No binary-options-specific ban or framework was found. Residents typically use offshore brokers that are not supervised locally.Regulator: Securities and Exchange Commission |
| Norway | Banned | As an EEA state, Norway has adopted a national measure banning the marketing, distribution and sale of binary options to retail clients. ESMA endorsed it in an opinion of February 2020.Regulator: Finanstilsynet (Financial Supervisory Authority of Norway) |
| Poland | Banned | The KNF has adopted a national product intervention measure banning the marketing, distribution and sale of binary options to retail clients. ESMA endorsed it in March 2019.Regulator: KNF (Polish Financial Supervision Authority) |
| Portugal | Banned | Since 2019, a permanent national measure has banned the marketing, distribution and sale of binary options to retail clients.Regulator: CMVM (Portuguese Securities Market Commission) |
| Romania | Banned | ESMA's 2018 temporary ban applied in Romania, and ESMA's July 2026 statement treats binary options as banned for retail clients across the EU. A Romania-specific permanent national measure could not be located.Regulator: ASF (Financial Supervisory Authority) |
| Russia | Legal Regulator warnings | Russian law has no specific binary options framework. The Bank of Russia's warning list flags offshore operators such as Pocket Option as showing signs of illegal activity in the securities market.Regulator: Bank of Russia |
| San Marino | Legal | No binary-options-specific ban or framework was found. Residents typically use foreign brokers.Regulator: Central Bank of San Marino |
| Serbia | Legal Regulator warnings | The National Bank of Serbia warns that binary options platforms operate outside Serbian regulation and often involve fraud. Investment services require a Securities Commission licence.Regulator: Securities Commission / National Bank of Serbia |
| Slovakia | Banned | Since 2019, a permanent national measure has banned the marketing, distribution and sale of binary options to retail clients.Regulator: NBS (Národná banka Slovenska) |
| Slovenia | Banned | Slovenia has adopted a national product intervention measure banning the sale of binary options to retail clients. ESMA endorsed it in August 2019.Regulator: ATVP (Securities Market Agency) |
| Spain | Banned | The CNMV has adopted a national measure banning the marketing, distribution and sale of binary options to retail clients. It also publishes warnings about unauthorised brokers.Regulator: CNMV (National Securities Market Commission) |
| Sweden | Banned | Since 2019, a permanent national measure has banned the marketing, distribution and sale of binary options to retail clients.Regulator: Finansinspektionen (Swedish FSA) |
| Switzerland | Legal Regulator warnings | Switzerland has no ESMA-style product ban. FINMA has added unauthorised binary options brokers to its public warning list for illegally offering services to Swiss residents.Regulator: FINMA (Swiss Financial Market Supervisory Authority) |
| Turkey | Legal Regulator warnings | The CMB has treated binary options as gambling rather than a financial product. It has filed criminal complaints and ordered ISPs to block binary options websites, and leveraged trading is limited to locally licensed firms.Regulator: CMB / SPK (Capital Markets Board of Turkey) |
| Ukraine | Legal Regulator warnings | The NSSMC has issued formal warnings that binary options platforms such as Pocket Option and Binomo have no Ukrainian licence and are unauthorised to serve Ukrainian consumers.Regulator: NSSMC (National Securities and Stock Market Commission) |
| United Kingdom | Banned | Since 2 April 2019, a permanent FCA ban has barred firms acting in or from the UK from selling, marketing or distributing binary options, including securitised binary options, to retail consumers.Regulator: FCA (Financial Conduct Authority) |
North America 2 countries · 0 legal · 1 licensed only · 1 banned
| Country | Status | What the rules say |
|---|---|---|
| Canada | Banned | Since December 2017, MI 91-102 has banned advertising, offering or selling binary options with a term under 30 days to individuals in every province except British Columbia. British Columbia prohibits them under its own instrument.Regulator: CSA (Canadian Securities Administrators) / provincial securities regulators |
| United States | Legal, licensed only | Binary options are legal only on CFTC-regulated exchanges such as Nadex, which now operates as Crypto.com's derivatives exchange. The CFTC treats off-exchange binary options sold to US residents through offshore websites as illegal.Regulator: CFTC (Commodity Futures Trading Commission) / SEC |
Latin America & Caribbean 33 countries · 33 legal · 0 licensed only · 0 banned
| Country | Status | What the rules say |
|---|---|---|
| Antigua and Barbuda | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: FSRC / ECSRC |
| Argentina | Legal Regulator warnings | Only CNV-registered intermediaries may publicly offer options. The CNV keeps adding unregistered derivatives and binary options providers to its public alert list, as recently as 2026.Regulator: CNV (Comisión Nacional de Valores) |
| Bahamas | Legal | No binary-options-specific rule for retail clients was found. Residents typically use offshore brokers.Regulator: Securities Commission of The Bahamas |
| Barbados | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: FSC (Financial Services Commission) |
| Belize | Legal Regulator warnings | The regulator has repeatedly warned that binary options brokers claiming a Belize licence were unlicensed or using forged licences. No local retail framework specific to binary options was found.Regulator: FSC Belize (formerly IFSC) |
| Bolivia | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers, subject to currency controls.Regulator: ASFI (Financial System Supervisory Authority) |
| Brazil | Legal Regulator warnings | The CVM classifies binary options as derivatives. It has issued stop orders against offshore brokers such as IQ Option and Pocket Option, which are not authorised to offer investments to Brazilian residents.Regulator: CVM (Comissão de Valores Mobiliários) |
| Chile | Legal Regulator warnings | The CMF has issued alerts naming unregistered providers of derivatives, including binary options, CFDs and forex. These providers are not authorised to operate in Chile.Regulator: CMF (Comisión para el Mercado Financiero) |
| Colombia | Legal Regulator warnings | The SFC has warned that binary options platforms are outside its supervision and not authorised to promote foreign financial products to Colombian residents.Regulator: SFC (Superintendencia Financiera de Colombia) |
| Costa Rica | Legal | No binary-options-specific framework or warning was found. Residents typically use offshore brokers.Regulator: SUGEVAL (Superintendencia General de Valores) |
| Cuba | Legal | There is no retail derivatives market or binary options framework. Access to offshore brokers is limited in practice by sanctions and banking restrictions.Regulator: Central bank |
| Dominica | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: FSU / ECSRC |
| Dominican Republic | Legal | No binary-options-specific framework or warning was found. Residents typically use offshore brokers.Regulator: SIMV (Superintendencia del Mercado de Valores) |
| Ecuador | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers that are not supervised locally.Regulator: Superintendencia de Compañías, Valores y Seguros |
| El Salvador | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: SSF (Superintendencia del Sistema Financiero) |
| Grenada | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: GARFIN / ECSRC |
| Guatemala | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Superintendencia de Bancos |
| Guyana | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Guyana Securities Council |
| Haiti | Legal | No securities or binary options framework was found. Access to offshore brokers is limited in practice.Regulator: Central bank (BRH) |
| Honduras | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: CNBS (Comisión Nacional de Bancos y Seguros) |
| Jamaica | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: FSC (Financial Services Commission) |
| Mexico | Legal | No CNBV rule or warning specific to binary options was found. Foreign online brokers are outside CNBV supervision and CONDUSEF protection, and residents typically use offshore platforms.Regulator: CNBV (National Banking and Securities Commission) |
| Nicaragua | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: SIBOIF (Superintendencia de Bancos) |
| Panama | Legal Regulator warnings | Panama's SMV publishes warnings against unlicensed firms offering derivatives, including binary options, CFDs and forex, most recently in 2026.Regulator: SMV (Superintendencia del Mercado de Valores de Panamá) |
| Paraguay | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Securities regulator |
| Peru | Legal Regulator warnings | The SMV states that no company in Peru is authorised to publicly offer forex products and urges investors not to hand money to such platforms. It has published no binary-options-specific statement.Regulator: SMV (Superintendencia del Mercado de Valores) |
| Saint Kitts and Nevis | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: FSRC / ECSRC |
| Saint Lucia | Legal | No binary-options-specific framework was found. Some offshore binary options operators are registered there as companies, without a local retail licensing regime.Regulator: FSRA / ECSRC |
| Saint Vincent and the Grenadines | Legal Regulator warnings | The FSA has stated that it does not license forex or binary options brokers. SVG-registered companies offering these services do so without FSA authorisation.Regulator: FSA (Financial Services Authority) |
| Suriname | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Central Bank of Suriname |
| Trinidad and Tobago | Legal | No binary-options-specific rule was found. The TTSEC publishes general investor alerts about unregistered entities.Regulator: TTSEC (Trinidad and Tobago Securities and Exchange Commission) |
| Uruguay | Legal | No binary-options-specific framework was found. The BCU issues general warnings about unauthorised financial firms.Regulator: BCU (Banco Central del Uruguay) |
| Venezuela | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers, subject to currency controls.Regulator: SUNAVAL (Superintendencia Nacional de Valores) |
Asia 34 countries · 30 legal · 1 licensed only · 3 banned
| Country | Status | What the rules say |
|---|---|---|
| Afghanistan | Banned | In June 2022 the central bank declared online forex trading illegal and said participants would face prosecution. No carve-out for binary options exists.Regulator: Da Afghanistan Bank |
| Armenia | Legal | No binary-options-specific rule was found in this research. Residents who trade binaries typically use offshore brokers.Regulator: Central Bank of Armenia |
| Azerbaijan | Legal Regulator warnings | In August 2026 the central bank warned citizens against foreign investment platforms that lack a local licence. It stated that a foreign licence does not permit offering services in Azerbaijan.Regulator: Central Bank of Azerbaijan |
| Bangladesh | Legal Regulator warnings | Bangladesh Bank has warned that forex trading other than through its authorised dealers is illegal under the Foreign Exchange Regulation Act. No binary options provider is licensed locally.Regulator: Bangladesh Bank / BSEC |
| Bhutan | Legal | No specific framework for binary options was found. Foreign-exchange controls limit offshore trading.Regulator: Royal Monetary Authority of Bhutan |
| Brunei | Legal Regulator warnings | BDCB maintains a public alert list of unlicensed entities. No locally licensed binary options provider was found.Regulator: Brunei Darussalam Central Bank (BDCB) |
| Cambodia | Legal Regulator warnings | The regulator has historically barred unlicensed firms from offering derivatives, and it campaigns against illegal investment schemes. The current position on binary options specifically was not confirmed.Regulator: Securities and Exchange Regulator of Cambodia (SERC) |
| China | Banned | In a 2020 guiding case, the Supreme People's Court held that online binary options are gambling disguised as options trading, and operators were convicted of running a casino. Unlicensed offshore brokers serving mainland clients are deemed illegal.Regulator: CSRC / PBOC (Supreme People's Court guiding case) |
| Georgia | Legal | No binary-options-specific rule was found in this research. Residents typically use offshore brokers.Regulator: National Bank of Georgia |
| Hong Kong | Legal Regulator warnings | The SFC has put several binary options platforms on its Alert List as unlicensed. It has said no binary options trading companies are registered in Hong Kong.Regulator: Securities and Futures Commission (SFC) |
| India | Legal Regulator warnings | Under FEMA, residents may trade forex only through RBI-authorised persons, authorised electronic trading platforms or recognised exchanges. The RBI publishes an Alert List of unauthorised platforms and warns that violations can lead to legal action.Regulator: RBI / SEBI |
| Indonesia | Banned | Indonesian authorities treat online binary options as illegal gambling and block the platforms. Promoters and affiliates have been prosecuted.Regulator: Bappebti / OJK |
| Japan | Legal, licensed only | Binary options may be offered only by JFSA-registered firms under FFAJ rules, which set minimum trading periods, suitability checks and limits on bonuses. Unregistered offshore providers are regularly named in regulators' warnings.Regulator: JFSA / FFAJ |
| Kazakhstan | Legal Regulator warnings | ARDFM warns that brokers not in its registry are unlicensed and that a foreign licence does not permit operating in Kazakhstan. Clients of such firms have no legal protection.Regulator: Agency for Regulation and Development of the Financial Market (ARDFM) |
| Kyrgyzstan | Legal | A bill submitted to parliament would classify binary options as gambling, ban their promotion and require banks to block related payments. As of mid-2026 it had not been passed.Regulator: National Bank of the Kyrgyz Republic |
| Laos | Legal | No specific framework for binary options was found. Residents who trade use offshore brokers.Regulator: Securities regulator / Central bank |
| Malaysia | Legal Regulator warnings | The SC regularly adds unlicensed binary and forex trading providers to its Investor Alert List. Carrying on regulated activity without an SC licence is an offence under the Capital Markets and Services Act 2007.Regulator: Securities Commission Malaysia (SC) |
| Maldives | Legal | No specific framework for binary options was found. Residents who trade use offshore brokers.Regulator: Capital Market Development Authority / Maldives Monetary Authority |
| Mongolia | Legal | No binary-options-specific framework was found. Residents who trade use offshore brokers.Regulator: Financial Regulatory Commission (FRC) |
| Myanmar | Legal Regulator warnings | The central bank has said it will take legal action against anyone dealing in foreign exchange without an authorised dealer licence, including through social media. Penalties include prison terms under the Foreign Exchange Management Law.Regulator: Central Bank of Myanmar |
| Nepal | Legal Regulator warnings | Foreign-exchange rules restrict residents from sending funds abroad for speculative trading, and the central bank has cautioned against unauthorised online financial schemes. A binary-options-specific statement was not confirmed.Regulator: Nepal Rastra Bank / SEBON |
| North Korea | Legal | No framework exists. Residents have essentially no access to international online brokers.Regulator: Central bank |
| Pakistan | Legal Regulator warnings | The SECP has warned the public against illegal offshore trading platforms offering forex, options and other speculative products without Pakistani authorisation.Regulator: SECP / State Bank of Pakistan |
| Philippines | Legal Regulator warnings | A 2018 SEC advisory told the public to stop investing through foreign platforms offering forex, CFDs and binary options, noting that no one is licensed to sell them. The SEC has also issued advisories against specific brokers such as IQ Option.Regulator: Securities and Exchange Commission (SEC Philippines) |
| Singapore | Legal Regulator warnings | MAS has cautioned investors about trading binary options with unregulated, often offshore platforms. It lists such firms on its Investor Alert List.Regulator: Monetary Authority of Singapore (MAS) |
| South Korea | Legal | The FSS has said binary options have no official classification and fall outside its supervision. It treats them as speculative gambling rather than financial products, so problems are left to police.Regulator: Financial Supervisory Service (FSS) / FSC |
| Sri Lanka | Legal Regulator warnings | The CBSL states that residents may not engage in online forex trading under the Foreign Exchange Act, and it has warned against unauthorised online trading platforms. It may take action against both promoters and participants.Regulator: Central Bank of Sri Lanka (CBSL) |
| Taiwan | Legal Regulator warnings | The FSC has referred unlicensed foreign online platforms offering forex, options and securities to prosecutors and says they may not do business in Taiwan. Investors are told to use licensed institutions only.Regulator: Financial Supervisory Commission (FSC) |
| Tajikistan | Legal | No binary-options-specific framework was found. Currency controls restrict offshore trading.Regulator: National Bank of Tajikistan |
| Thailand | Legal Regulator warnings | The Thai SEC has stated that binary options are not under its supervision and has warned investors about solicitation by foreign providers. No licensed local binary options providers exist.Regulator: Securities and Exchange Commission (SEC Thailand) |
| Timor-Leste | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Turkmenistan | Legal | No framework was found. Strict currency controls and internet restrictions severely limit offshore trading.Regulator: Central bank |
| Uzbekistan | Legal | No binary-options-specific framework was confirmed in this research. Residents who trade use offshore brokers.Regulator: Central bank |
| Vietnam | Legal Regulator warnings | The Ministry of Public Security has warned that binary options platforms show signs of fraud and unlicensed multi-level business. Because only credit institutions may trade foreign exchange, such platforms are not eligible for a licence.Regulator: State Bank of Vietnam / Ministry of Public Security |
Middle East 14 countries · 13 legal · 0 licensed only · 1 banned
| Country | Status | What the rules say |
|---|---|---|
| Bahrain | Legal Regulator warnings | The CBB warns against unauthorised forex trading platforms and unlicensed online brokerage apps, and it advises checking its licensing directory. No locally licensed binary options provider was found.Regulator: Central Bank of Bahrain (CBB) |
| Iran | Legal | No binary-options-specific framework was found. International sanctions and currency controls severely limit access to offshore brokers.Regulator: Central Bank of Iran / Securities and Exchange Organization |
| Iraq | Legal | No specific framework for binary options was found. Residents who trade use offshore brokers.Regulator: Iraq Securities Commission / Central Bank of Iraq |
| Israel | Banned | A 2017 law banned binary options businesses operating from Israel, including those targeting clients abroad. Firms were given three months to wind down.Regulator: Israel Securities Authority (ISA) |
| Jordan | Legal Regulator warnings | The JSC warns investors against unlicensed companies promising unrealistic profits, including offers involving foreign markets, and says it will take legal action against violators.Regulator: Jordan Securities Commission (JSC) |
| Kuwait | Legal Regulator warnings | The CMA urges investors to deal only with CMA-licensed persons and pursues unlicensed activity. A binary-options-specific statement was not confirmed.Regulator: Capital Markets Authority (CMA Kuwait) |
| Lebanon | Legal | No binary-options-specific framework was found. The banking crisis restricts funding of offshore accounts.Regulator: Capital Markets Authority / Banque du Liban |
| Oman | Legal Regulator warnings | The regulator has warned investors against unlicensed companies claiming to offer foreign-exchange and investment services, citing IOSCO alerts.Regulator: Financial Services Authority (formerly Capital Market Authority) |
| Palestine | Legal | No binary-options-specific framework was confirmed in this research. Residents who trade use offshore brokers.Regulator: Palestine Capital Market Authority |
| Qatar | Legal Regulator warnings | The QFMA has warned investors against firms advertising investment schemes unless they hold licences from the relevant Qatari authorities. No locally licensed binary options provider was found.Regulator: Qatar Financial Markets Authority (QFMA) |
| Saudi Arabia | Legal Regulator warnings | The CMA, SAMA and the Ministry of Commerce have jointly warned against unlicensed forex activities, describing them as serious violations that can lead to arrest. Residents are told to check the licensed-entity lists.Regulator: Capital Market Authority (CMA) / SAMA |
| Syria | Legal | No specific framework for binary options was found. Sanctions and currency controls severely limit access to offshore brokers.Regulator: Central bank |
| United Arab Emirates | Legal Regulator warnings | The federal regulator (renamed from SCA to CMA in 2026) regularly flags unlicensed trading firms and urges the public to verify licences. No locally licensed binary options provider was identified in this research.Regulator: Capital Market Authority (formerly SCA) / DFSA / FSRA |
| Yemen | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
Africa 54 countries · 54 legal · 0 licensed only · 0 banned
| Country | Status | What the rules say |
|---|---|---|
| Algeria | Legal | No specific framework for binary options was found. Strict foreign-exchange controls apply, and residents who trade usually do so with offshore brokers outside local supervision.Regulator: COSOB / Bank of Algeria |
| Angola | Legal | No specific rules on binary options were found. Residents who trade them typically use offshore brokers that are not supervised locally.Regulator: Capital markets commission (CMC) |
| Benin | Legal | No binary-options-specific framework was found in the WAEMU regional rules. Retail traders typically use offshore brokers that are not supervised locally.Regulator: AMF-UMOA (regional) / BCEAO |
| Botswana | Legal | A 2024 report says NBFIRA does not currently regulate speculative forex trading and is considering a framework. No binary-options-specific rules were found, and residents typically use offshore brokers.Regulator: NBFIRA |
| Burkina Faso | Legal | No binary-options-specific framework was found in the WAEMU regional rules. Residents typically use offshore brokers.Regulator: AMF-UMOA (regional) / BCEAO |
| Burundi | Legal | No specific framework for binary options was found. Any trading takes place through offshore brokers that are not supervised locally.Regulator: Central bank |
| Cabo Verde | Legal | No specific framework for binary options was found. Residents who trade use offshore brokers.Regulator: Central bank |
| Cameroon | Legal | No binary-options-specific rules were found in the CEMAC regional framework. Residents typically use offshore brokers that are not supervised locally.Regulator: COSUMAF (regional) / BEAC |
| Central African Republic | Legal | No binary-options-specific framework was found. Online trading access is limited, and anyone who trades uses offshore brokers.Regulator: COSUMAF (regional) / BEAC |
| Chad | Legal | No binary-options-specific framework was found. Anyone who trades uses offshore brokers.Regulator: COSUMAF (regional) / BEAC |
| Comoros | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Congo | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: COSUMAF (regional) / BEAC |
| Côte d'Ivoire | Legal | No binary-options-specific framework was found in the WAEMU regional rules. Retail traders typically use offshore brokers.Regulator: AMF-UMOA (regional) / BCEAO |
| DR Congo | Legal | No specific framework for binary options was found. Residents who trade use offshore brokers that are not supervised locally.Regulator: Central bank |
| Djibouti | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Egypt | Legal Regulator warnings | The FRA has repeatedly warned the public against unlicensed online investment platforms and says promoters of unauthorised investments face legal consequences. No locally licensed binary options provider was found.Regulator: Financial Regulatory Authority (FRA) |
| Equatorial Guinea | Legal | No binary-options-specific framework was found. Anyone who trades uses offshore brokers.Regulator: COSUMAF (regional) / BEAC |
| Eritrea | Legal | No framework for binary options was found. Strict capital controls and limited internet access restrict online trading.Regulator: Central bank |
| Eswatini | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Financial Services Regulatory Authority |
| Ethiopia | Legal | Ethiopia's capital market framework is new, and no binary-options-specific rules were found. Strict foreign-exchange controls limit residents' access to offshore brokers.Regulator: Ethiopian Capital Market Authority / National Bank of Ethiopia |
| Gabon | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: COSUMAF (regional) / BEAC |
| Gambia | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Ghana | Legal Regulator warnings | SEC Ghana regularly publishes lists of unlicensed online investment and trading entities and warns the public against them. Its July 2026 list includes names associated with binary-style platforms.Regulator: Securities and Exchange Commission (SEC Ghana) |
| Guinea | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Guinea-Bissau | Legal | No binary-options-specific framework was found. Anyone who trades uses offshore brokers.Regulator: AMF-UMOA (regional) / BCEAO |
| Kenya | Legal Regulator warnings | The CMA has warned against unlicensed online forex brokers and money managers and ordered them to stop onboarding Kenyan clients. Only a small number of CMA-licensed online brokers operate locally.Regulator: Capital Markets Authority (CMA) / Central Bank of Kenya |
| Lesotho | Legal | No specific framework for binary options was found. Residents typically use offshore brokers.Regulator: Central bank |
| Liberia | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Libya | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Madagascar | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Malawi | Legal | No specific framework for binary options was found. Residents typically use offshore brokers.Regulator: Reserve Bank of Malawi |
| Mali | Legal | No binary-options-specific framework was found. Anyone who trades uses offshore brokers.Regulator: AMF-UMOA (regional) / BCEAO |
| Mauritania | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Mauritius | Legal Regulator warnings | The FSC licenses investment dealers and has issued investor alerts about unauthorised binary/forex operators, including one that used fake FSC certificates. Investors are told to check the FSC register of licensees.Regulator: Financial Services Commission (FSC Mauritius) |
| Morocco | Legal Regulator warnings | The AMMC has warned against fraudulent online trading platforms and states that platforms for currencies and gold are outside its supervision. Fraud on these platforms is handled under general criminal law.Regulator: AMMC / Bank Al-Maghrib |
| Mozambique | Legal | No specific framework for binary options was found. Residents typically use offshore brokers.Regulator: Central bank |
| Namibia | Legal | NAMFISA states that online trading is not a regulated activity in Namibia unless it is done through an exchange member, and it cautions the public about the risks. No binary-options-specific rules were found.Regulator: NAMFISA / Bank of Namibia |
| Niger | Legal | No binary-options-specific framework was found. Anyone who trades uses offshore brokers.Regulator: AMF-UMOA (regional) / BCEAO |
| Nigeria | Legal Regulator warnings | SEC Nigeria periodically blacklists unregistered online trading platforms and warns that people who deal with them do so at their own risk. No locally licensed binary options provider was found.Regulator: Securities and Exchange Commission (SEC Nigeria) |
| Rwanda | Legal Regulator warnings | The CMA has stated that it has not licensed any entity for online forex brokerage and that dealing with unlicensed providers is at the investor's own risk. Carrying on capital market business without a licence is an offence.Regulator: Capital Market Authority (CMA Rwanda) |
| Senegal | Legal | No binary-options-specific framework was found in the WAEMU regional rules. Retail traders typically use offshore brokers.Regulator: AMF-UMOA (regional) / BCEAO |
| Seychelles | Legal | Seychelles licenses many offshore securities dealers that serve foreign clients. No binary-options-specific retail framework for local residents was found.Regulator: Financial Services Authority (FSA Seychelles) |
| Sierra Leone | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Somalia | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| South Africa | Legal Regulator warnings | Firms offering OTC derivatives must be FSCA-authorised (ODP regime), and the FSCA (formerly FSB) has warned against unauthorised binary options brokers soliciting South Africans. No binary-options-specific ban was found.Regulator: Financial Sector Conduct Authority (FSCA) |
| South Sudan | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Sudan | Legal | No specific framework for binary options was found. Sanctions and conflict severely limit access to offshore brokers.Regulator: Central bank |
| São Tomé and Príncipe | Legal | No specific framework for binary options was found. Anyone who trades uses offshore brokers.Regulator: Central bank |
| Tanzania | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Capital Markets and Securities Authority (CMSA) / Bank of Tanzania |
| Togo | Legal | No binary-options-specific framework was found. Anyone who trades uses offshore brokers.Regulator: AMF-UMOA (regional) / BCEAO |
| Tunisia | Legal | No binary-options-specific framework was found. Foreign-exchange controls restrict residents from funding offshore trading accounts.Regulator: Conseil du Marché Financier (CMF) / Central bank |
| Uganda | Legal | Retail online forex trading is reported not to be regulated in Uganda, and no binary-options-specific rules were found. Residents typically use offshore brokers.Regulator: Capital Markets Authority (CMA Uganda) |
| Zambia | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Securities and Exchange Commission (SEC Zambia) |
| Zimbabwe | Legal | No binary-options-specific framework was found. Exchange controls apply, and residents who trade typically use offshore brokers.Regulator: Securities and Exchange Commission of Zimbabwe / Reserve Bank of Zimbabwe |
Oceania 14 countries · 11 legal · 2 licensed only · 1 banned
| Country | Status | What the rules say |
|---|---|---|
| Australia | Banned | ASIC's product intervention order has banned the issue and distribution of binary options to retail clients since 3 May 2021. It was extended in 2022 and runs until 1 October 2031.Regulator: ASIC (Australian Securities and Investments Commission) |
| Fiji | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers, subject to exchange controls.Regulator: Reserve Bank of Fiji |
| Kiribati | Legal | No securities or binary options framework was found. Residents who trade use offshore brokers.Regulator: Financial authority |
| Marshall Islands | Legal | No retail binary options framework was found. Residents who trade use offshore brokers.Regulator: Financial authority |
| Micronesia | Legal | No securities or binary options framework was found. Residents who trade use offshore brokers.Regulator: Financial authority |
| Nauru | Legal | No securities or binary options framework was found. Residents who trade use offshore brokers.Regulator: Financial authority |
| New Zealand | Legal, licensed only | Binary options are not banned, but since December 2017 any provider offering short-term derivatives to New Zealanders, local or overseas, must hold an FMA derivatives issuer licence. The FMA also warns against unlicensed binary options sites.Regulator: FMA (Financial Markets Authority) |
| Palau | Legal | No securities or binary options framework was found. Residents who trade use offshore brokers.Regulator: Financial Institutions Commission |
| Papua New Guinea | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Securities Commission of Papua New Guinea |
| Samoa | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Central Bank of Samoa |
| Solomon Islands | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: Central Bank of Solomon Islands |
| Tonga | Legal | No binary-options-specific framework was found. Residents typically use offshore brokers.Regulator: National Reserve Bank of Tonga |
| Tuvalu | Legal | No securities or binary options framework was found. Residents who trade use offshore brokers.Regulator: Financial authority |
| Vanuatu | Legal, licensed only | The VFSC has issued dealer licences used by offshore forex and binary options brokers, according to a 2017 legal overview. The protections for local retail clients under these licences are limited.Regulator: VFSC (Vanuatu Financial Services Commission) |
Where binary options are banned
Binary options are banned for retail traders in 37 countries: Afghanistan, Australia, Austria, Belgium, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Indonesia, Ireland, Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Moldova, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.
In the European Union, ESMA introduced a temporary ban on selling binary options to retail clients in July 2018. Each national regulator then adopted its own permanent ban, so the product is prohibited for retail traders in every EU member state, as well as in Norway and Liechtenstein. In Iceland binary options may be offered only by licensed firms. The United Kingdom's FCA made its ban permanent in April 2019, Australia's ASIC followed in 2021, and Canada's securities regulators banned short-term binary options in 2017.
Where they are allowed only with a licence
In Iceland, Japan, New Zealand, United States, Vanuatu binary options are legal only on locally licensed exchanges or through licensed firms. In the United States, for example, they may be traded only on exchanges regulated by the CFTC; brokers based abroad are not allowed to offer them to US residents.
Before you trade
Check the status of your country above and read the note next to it. Use a broker that accepts residents of your country and never misstate where you live. Remember that binary options are high-risk: you can lose the whole amount of every trade, and most retail traders lose money.
This guide is general information, not legal advice. Laws change, and some countries have rules that also cover payments or advertising. If you are unsure, check with your national financial regulator.
Frequently asked questions
Is binary options trading legal?
In most of the world, yes. Of 197 countries, 155 have no law that prohibits binary options, so trading them is legal. 5 allow them only through locally licensed venues, and 37 ban them for retail traders, including the UK, Australia, Canada, Israel and all EU countries.
Is binary options trading legal in the United States?
Yes, but only on exchanges regulated by the CFTC. Brokers based outside the US are not allowed to offer binary options to US residents.
Why are binary options banned in the EU and the UK?
Regulators decided that the product is too risky for retail clients: most of them lose money, and the payout structure works like a bet. ESMA banned them across the EU in 2018, and national regulators then made the ban permanent. The UK FCA did the same in 2019.
What does it mean when a regulator warns about a broker?
It means the broker has no local licence and the regulator advises residents not to use it. In most of these countries this is not a law against binary options, so we mark the country as legal, but you trade without local investor protection.
Can I trade binary options from a country where they are banned?
A ban usually stops brokers from offering binary options to residents, and reputable brokers refuse clients from those countries. Never misstate your country of residence: you could lose your account and your money. Check local law before you trade.
How often is this list updated?
We review it at least every quarter and after any new ban or regulator action. Last review: 18 October 2026.
Status checked against regulators' publications and announcements. Last reviewed 18 October 2026.
Binary options broker
Pocket Option
Binary options are high-risk; you can lose your whole stake. Check they are legal where you live.
Get 50% bonus