The United Kingdom is one of the few countries around the world that embraces financial betting. Due to the exposure that most of the residents in the UK have to the gaming industry, binary options trading is merely seen as an extension of spread betting and so quickly became extremely popular.

However the problem most UK binary traders face is the legitimacy of the binary brokers that they are trading with. How does a trader in UK discern a reliable binary broker from that of a scam? To help our readers in making the right choice, we have come up with a list of recommended platform providers in the UK that traders can open an account and start dealing with.

These firms are shortlisted based on certain traits and qualities such as:. To avoid being scammed, binary traders should always trade with regulated platform providers.

To help our readers in the UK decide on their choice of broker, we have come with a list of recommended companies that have been closely vetted by us. Nevertheless, there are also no legal restrictions that will prevent traders in UK from signing up with brokerage firms from other countries in the European Union such as Cyprus. In Cyprus, binary options trading activities are regulated as a financial derivative by the Cyprus Securities Exchange Commission CySEC.

In other words, firms from Cyprus are legally allowed to offer their services to traders based in the UK. The benefit of trading with a CySEC regulated broker is the fact that UK traders can now rest assured that their brokers are held to a higher standard of accountability.

In addition, they will also have access to compensation under the Investors Compensation Scheme should their broker becomes unable to fulfill its contractual obligations due to insolvency.

Best UK Binary Options Brokers

It should be noted that the binary regulatory landscape is constantly evolving. Obviously for traders in UK, it is more beneficial to them if their provider is regulated by the FCA as opposed to CySEC since the brokers are subjected to closer monitoring. A well regulated market is in turn less likely to face rampant fraudulent activities, as the brokerage firms are normally required to report their operational activities on a regular basis to the authorities.

This leaves less room for the brokers to scam their clients. In addition with tighter regulatory oversight, binary options traders in the UK will have more confidence in their broker hence enabling them to divert their attention more towards trading rather than constantly worrying if their broker will run off with their money.

With London as the financial center of Europe, traders in the UK have access to a wide selection of payment methods which they can use to deposit funds into their trading account. Another alternative method which is popular among traders in the UK is depositing funds through eWallets.

Binary Options Trading Guide for UK

To start trading in the UK, British residents can either choose to open a trading account that is incorporated in the UK or with a broker that is based in Cyprus. ExpertOption Review Editor's Choice.

BinaryRobot Review Editor's Choice. BDSwiss Review Editor's Choice. Your capital is at risk. Trade with caution, these products might not be suitable for everyone so make sure you understand the risks involved.

Best Brokers Binary Bonus Trading Guide Glossary Auto Trading Options Types Mobile Signals Platforms Academy Forex Trading Forex Brokers. These firms are shortlisted based on certain traits and qualities such as: Good Customer Service Reputable and Regulated Wide range of tradable assets and high payouts Best Brokers in the UK To avoid being scammed, binary traders should always trade with regulated platform providers.

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