Anyoption targets French traders with football promo in face of ban

Maria Nikolova

In the face of legal restrictions on all sorts of partnerships that promote binary options, some binary options brokers continue these endeavors.

FinanceFeeds has been keeping an eye on how the French ban on binary options advertising is being implemented. Thus far, it had turned out that certain binary options firms are not eager to comply with the ban on advertising of risky financial products, including binary options, introduced in the Sapin 2 law in France.

The latest example in this respect comes from Anyoption, a brand of Cyprus-regulated Ouroboros Derivatives Trading Limited. Technically, Anyoption is not a part of the blacklist of unregulated binary options brokers in France. Its marketing practices, however, run counter what the latest legal changes in France mandate.

Anyoption has just launched a trading competition that has as its top prize hanging out with Brazilian football star Roberto Carlos and a trip to Madrid, where “the lucky winners” will watch the game between Real Madrid FC and FC Barcelona.

One note should be struck immediately: anyoption is not a partner of any of the football clubs mentioned above. But it is still using their names to promote its trading platform.

Indeed, the French law leaves some room for advertising partnerships with binary options brands to continue until June 30, 2017. But this applies to partnerships current through July 1, 2016.

Anyoption is not the single Cyprus-registered binary options broker to continue to target French traders with football ads. For instance, 24Option, a brand of CySEC-regulated Rodeler Limited, continues to solicit French traders via its partnership with Juventus FC.

Many football teams have taken steps to terminate their partnerships with binary options brokers. Five French teams were amid the first to do so.

Earlier this month, FinanceFeeds reported of the termination of the partnership between Tottenham Hotspur FC and EZTrader. Also in England, Southampton FC put an end to its partnership with Banc de Binary in September last year. The binary options broker subsequently shut down its operations.

In the meantime, the number of binary options brokers on the blacklist of France’s financial markets regulator AMF keeps growing. A recent check by FinanceFeeds, however, has shown that 20% of the blacklisted companies continue operating undeterred by the warnings.

Read this next

Retail FX

Investors from Cyprus and Dubai acquire ‘significant stake’ in M4Markets

Seychelles-regulated brokerage firm M4Markets firm has picked up some investment from Cyprus and Dubai based investors in a new funding round that it will be using to grow its business.

Executive Moves

UAE broker Amana elevates Amr Masry to sales director

Amr Masry has been promoted to a new senior role at Amana Capital, becoming the group’s newest Sales Director, following a successful tenure with the UAE-based FX and CFDs broker.

Executive Moves

TopFX promotes Omar Al-Janabi to head of sales and business development

Prime brokerage firm TopFX has strengthened its Middle East operations with the promotion of Omar Al-Janabi, who is taking on an expanded role as global head of sales and business development.

Retail FX

Plus500 says 2022 revenue to be ‘significantly’ ahead of analysts’ estimates

Israeli-based, but London-stock market listed Plus500 said it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.

Digital Assets

Crypto derivatives giant BitMEX launches spot market

Crypto exchange BitMEX is looking to branch out of its singular focus on crypto derivatives with a suite of new product offerings. Although derivatives are to remain at the heart of BitMEX’s business, the popular platform will add spot crypto trading as it aims to aggressively grow their user base.


PrimeXM reports mixed trading volumes for April

PrimeXM has reported weaker trading volumes for April 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Digital Assets

DLT Finance approved by BaFin to support brokerage and custody of digital assets

DLT Finance is already partnered with big names within the digital asset space, including Kraken, Bitstamp, B2C2, and Bittrex.

Institutional FX

LUKB taps vestr to launch actively managed products, AMCs

The partnership with vestr goes to show the growing importance of digitising the active investment management space.

Digital Assets

Jewel taps Tokeny to launch stablecoin-as-a-service solution on Polygon

Jewel aims to offer a stablecoin-as-a-service solution to other digital asset and financial institutions B2B, allowing those businesses to provide cheaper, easier and near real time payments with stablecoins issued and redeemable directly at the bank level at Jewel.