Apple Banned Binary Trading Apps

Rough times for binary options brokers.

apple phone

Technological giant Apple announced banning of all binary trading related apps from their App Store. According to their new updated guidelines iOS device users will no longer be able to use mobile apps to trade binary options on the go. This is expected to cause a number of issues for binary brokers, who are already scrutinized by regulators all over the world.

In their document, Apple is also offering a “solution” – switching trading to web based interface. All binary brokers have web platforms, but in the past mobile apps were a great selling point, as more and more internet users focus on the mobile online activity instead of desktop usage.

From now on, brokers won’t be able to do any updates on the existing apps that are already available in the App Store. This means that they might not be compatible with latest devices and can cause many technical difficulties for users. The apps will remain available for unknown period of time, before Apple removes them from their App Store.

Apple iPhone is known as most popular smartphone on the market, so this decision will affect millions of both existing and potential users. For now, Android users don’t have to worry, as there are no announcements about this in Google Play store but it is possible that the same scenario waits for them as well.

It is presumed that the main reason for removing binary trading apps are customer complaints that are on the rise. Besides traders, regulators are putting pressure on all channels that are promoting binary options, including advertisers and affiliates. Regulatory bodies are now trying to fix their own mistakes of neglecting binary options market control in the past: even though they first showed up in 2007., most regulators started to act upon complaints by traders fairly recently which damaged the reputation of the entire industry.