After an investigation by the Financial Supervisory Authority in Australia, Apple and Google have now removed more than 300 trading applications from their stores. A significant number of the App merchants did not have sufficient licenses to offer stock exchanging, others tricked with deceitful guarantees and benefit standpoints.
Just recently, the UK Independent has been dealing with the topic of binary trading via smartphone trading apps, now the news page reports the first successes in the fight against misleading and fraud with doubtful profit guarantees for stock trading. According to UK Independent, Apple and Google are now removing the apps from the App Stores. In Apple's updated policies for developers, such trading apps now have no success on admission.
According to a research conducted by the Australian Securities and Investments Commission (ASIC), most binary trading applications in binary trading were illegal, as the developers and the companies behind them could not have the licenses. In addition, an investigation had noticed that users in demo mode always made good benefit and immediately when they regularly registered, faces high losses, the Independent writes.
The app trading with binary options promises a quick supplementary income simply by betting on falling or rising share prices. However, The majority of such offers are based on fraud So only the system makers can earn. Affected users are to be found in all age categories. Even retirees would have given themselves the lucrative promise to earn fast money by the app.