In 2018 we saw the drastic action by the European Securities and Markets Authority (ESMA) change the binary option industry in the UK and Europe almost overnight. The announced binary options ban came into force on July 2018 and meant EU and UK domiciled brokers and traders were no longer able to deal in binary options.
Why Did ESMA Ban Binary Options?
We considered some sort of drastic action from regulators towards the binary options industry a long time coming. While we are supporters of both the free market and binary options traders, the industry was rife with scams, criminals and bad practices. However, caught in the crossfire were genuine binary option brokers and their clients.
For those in the EU and UK who still want to trade binary options, what could they now do?
Trading With an Offshore Broker
After the EU and UK binary options ban, many traders moved to trading forex or CFDs. Cyprus based IQ Option was one such broker who began introducing new replacement products.
However, there were few options for those wanting to trade binary options.
Enter the offshore brokers…
Operating from the Saint Vincent and The Grenadines, Zentrader (Read Our Full Review) is one broker who is able to accept EU and UK residents. Zentrader was started by a group of experienced financial market professionals who saw a need for an honest and transparent binary options product in UK and Europe.
About The Zentrader Platform
The latest Zentrader binary options platform was launched in 2019 and offers the standard binary trade types from 30 seconds up until 1 day.
Time frames of short term options (On-Demand), 30 seconds up to 5 minutes begin when the trade is entered into. Options with time frames 15 minutes and above (Classic) run on a fixed schedule and traders can enter and exit the option up until the no-trading window 1-2 minutes before the option expiry.
Zentrader also offers a FREE full demo platform with real market conditions and live data feed (no sign-in required).
A wide variety of tradable assets are available on the Zentrader platform, including forex, commodities, stock indices and single stocks. Payouts are very competitive at 180 – 195% on invested capital.
EUR and GBP Deposits and Withdrawals
One feature of all Zentrader accounts is the ability for EU and UK based traders to deposit and withdraw in EUR and GBP via their own local bank accounts. Deposits are processed usually within 2-3 hours from all SEPA accounts.
Credit cards (Visa and Mastercard) are also offered as a instant deposit option. Another added benefit is that Zentrader does not charge any fees for both deposit and withdrawal.
Zentrader EU and UK Bonus
For a limited time Zentrader is offering all approved EU and UK traders a € / £50 cashback bonus on their account. This means you can test out the platform with no risk.
Simply make a deposit and your account will be credited with the bonus. The only requirement is the bonus must be traded 1 times before it can be withdrawn. You will also receive any profits made on those trades.
Click here to claim your Zentrader bonus today!