Is it legal to trade binaries in Hong Kong? Yes. Binary option trading in Hong Kong is legal provided the broker is an offshore broker and does not claim to a broker that is based in Hong Kong. Are binaries regulated in Hong Kong? No, it is unregulated largely due to the lack of a legal framework governing the trading of this trading type/5(2) Is Binary Options trading legal in Hong Kong? Yes, Binary options trading in Hong Kong is legal. As long as the broker is an offshore broker and not a broker that is based in Hong Kong. The Securities and Futures Commission (SFC) is the main regulator of financial markets in the country Is binary trading in Hong Kong legal and safe? You are legally permitted to trade in binary options with an offshore broker. It is only illegal if the broker is Hong Kong-based. Trading is much safer with a broker regulated under a stringent authority, choose blogger.com: Robert Sammut
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A former British colony, Hong Kong is one of the top five leading financial centers around the world. It also plays host to hundreds of fund management companies hence earning Hong Kong the title of having the largest concentration of fund managers in this part of the world. Hong Kong has a one of the binary options hong kong living standards in the region, binary options hong kong.
The high quality of life, strong and transparent legal system coupled with a favorable investment infrastructure has made this city a top destination for expats. The low tax regime and favorable tax treatment of foreign source income that is remitted to Hong Kong has helped to contribute to the popularity of online binary options trading in Hong Kong. Traders who make a profit trading binaries in the overseas market do not have to pay taxes on the gains that they make.
Nevertheless, questions remain as to whether binary options trading in Hong Kong is legal. As mentioned earlier, there is a lack of binary brokers binary options hong kong are based in Hong Kong.
To overcome this hurdle, a trader can instead look for a regulated firm that is based offshore. To help traders find a reliable and regulated broker to work with, we have compiled a list below of those operators that are regulated and have earned a good reputation for reliability. Sign Up. While there are several regulatory agencies in Hong Kong, Hong Kong Monetary Authority and the Mandatory Provident Fund Schemes Authority that are responsible for regulating the financial industry in Hong Kong, the main body that is tasked with regulating the securities and futures markets in the territory is the Securities and Futures Commission.
Established in after the market crash of Octoberthe SFC was tasked to ensure the stability and integrity of the securities and futures markets.
It is also responsible for protecting investors and the promotion of Hong Kong as a leading financial center. While technically the SFC is a branch of the Hong Kong Government, binary options hong kong, it operates independently under a comprehensive Securities and Futures Ordinance SFO.
Primarily, its area of responsibilities include:. However despite the close binary options hong kong that the SFC has over the Hong Kong financial markets, it does not have any legal framework for overseeing binary trading in Hong Kong. Normally before any financial services provider can operate out of Hong Kong, it must first be authorized and licensed by the SFC. However the problem faced by the SFC is the same as that which most financial regulatory bodies are encountering when trying to license binary options trading in their country.
This trading type being a relatively new market innovation suffers from a lack of clarity with its legal definition and this means that regulators are having a hard trying to decide if binaries fall under gaming or under financial investments. As such, there are essentially no licenses dedicated binary binary options hong kong in Hong Kong. Although the SFC discourages Hong Kong residents for dealing with offshore brokerage firms, traders in Hong Kong are still free to sign up with any binary company that they want.
However, it is highly recommended that traders who want to sign up with offshore brokers do so with companies that are regulated by competent regulatory agencies such as the Cyprus Securities Exchange Commission CySEC. As one of the top 5 financial centers around the world, Hong Kong is able to offers traders in the territory a wide variety of payment methods which they can use to deposit funds into their trading account with an offshore broker.
Bank wire transfers, credit cards and eWallets like Neteller and PayPal can all be used to fund a binary options trading account, binary options hong kong. Binary option trading in Hong Kong is legal provided the broker is an offshore broker and does binary options hong kong claim to a broker that is based in Hong Kong, binary options hong kong.
No, it is unregulated largely due to the lack of a legal framework governing the trading of this trading type. In order to trade binary options in Hong Kong, you must first open an account with a broker.
Since there is no licensed brokerage firm in the territory, the next best thing to do is to sign up with one that is regulated outside the country. Binary Options Trading in Hong Binary options hong kong. Best Brokers in Hong Kong As mentioned earlier, there is a lack of binary brokers that are based in Hong Kong.
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Is it legal to trade binaries in Hong Kong? Yes. Binary option trading in Hong Kong is legal provided the broker is an offshore broker and does not claim to a broker that is based in Hong Kong. Are binaries regulated in Hong Kong? No, it is unregulated largely due to the lack of a legal framework governing the trading of this trading type/5(2) Is Binary Options trading legal in Hong Kong? Yes, Binary options trading in Hong Kong is legal. As long as the broker is an offshore broker and not a broker that is based in Hong Kong. The Securities and Futures Commission (SFC) is the main regulator of financial markets in the country Is binary trading in Hong Kong legal and safe? You are legally permitted to trade in binary options with an offshore broker. It is only illegal if the broker is Hong Kong-based. Trading is much safer with a broker regulated under a stringent authority, choose blogger.com: Robert Sammut
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