Yahoo’s YJFX, GMO Click confirm their iOS binary options apps no longer available

Maria Nikolova

More online trading companies admit that their binary options mobile apps cannot be downloaded from Apple’s App Store, after its policy changed.

Shortly after Japanese retail Forex broker Hirose Tusyo Inc (TYO:7185), or Hirose FX, informed its clients that its LION BO mobile application is no longer available to download from Apple’s App Store, other Japanese companies have also made similar announcements, confirming that they have been affected by the change to the App Store policy.

GMO Click Securities, a subsidiary of GMO Click Holdings Inc (TYO:7177), and YJFX, a subsidiary of Yahoo Japan Corporation (TYO:4689), have announced that their binary options trading applications cannot be downloaded from Apple’s App Store. Both companies explained that this is due to the change in the policy of the store.

A couple of months ago, Apple updated the OS developer guidelines, saying that “Apps that facilitate binary options trading are not permitted on the App Store”.

Whereas traders may continue to use the apps they have already downloaded, they cannot re-download them, if they delete the solution from their phones. Moreover, the apps may start to function incorrectly as Apple is about to start shipping its iPhone 8 and is about to release the latest iOS version.

The brokers offer their clients to use web browser-based trading applications instead.

One of the regulators that has been active in pushing for binary options apps removal from the app stores run by Apple and Google is the Australian Securities & Investments Commission (ASIC). Early in August this year, ASIC said it had contacted Apple and Google following its review of app stores offering binary options apps.

The review indicated more than 330 apps which were offered to Australians by entities and individuals that appeared to be unlicensed. Some 63% were offered by binary option issuers and facilitated trading, 25% were from various signal providers and the rest were controlled by introducing brokers or were apps designed to influence people to trade binary options.

In addition, many of the mobile app descriptions contained misleading statements about the profitability of trading. Most of these apps did not outline the risks of trading binary options, with 80% offering no risk warning at all.

Read this next

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.


Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.

Digital Assets

Thailand closer to launch digital asset exchange “to serve the needs of younger generations”

TDX is a subsidiary of the Stock Exchange of Thailand (SET) and its incorporation is part of the group’s strategic position to connect capital markets, open opportunities for the business sector in raising funds and cater to investment demand of new generations.

Digital Assets

Russia to legalize cryptocurrency payments as sanctions bite

Russia could soon be the latest country to lay down ground rules for legalizing cryptocurrencies as a means of payment, a sign that governments around the world are realizing that digital assets are here to stay.

Institutional FX

XTX Markets UK reports lackluster results for 2021

The UK business of XTX Markets, a non-bank FX liquidity provider and market maker, has reported its financials for the fiscal year ending December 31, 2021. The report showed impressive metrics after seeing revenues and customer activity increase even as the pandemic trading boom fizzled out.

Digital Assets

Binance in talks with BaFin to get license in Germany

Changpeng Zhao (CZ), founder and CEO of Binance has confirmed that they are in talks with Germany’s regulators to secure a local crypto license.