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.