Google routinely updates the rules of its store, Google Play Store, at short intervals to ensure the safety of users and to monitor content.
The above update affected financial apps that deal with binary options, following similar mandates cracking down on other financial-related apps. The Australian authorities had alerted Google following an analysis of online transactions in the last four years, in which it emerged that, because of binary options trading, hundreds of millions of dollars have disappeared undocumented.
This was made possible not only by the speculative nature of binary options trading, comparable more to a form of gambling than to an investment but by the anonymity of the network of companies that operate with binary options.
This ban enables Google to also veto and place limitations against other products deemed financially unstable, such as CFD contracts for differenceforex spot and cryptocurrency apps. Google notices In a public notice, Google Play announced their new company policy on binary options, banning indefinitely apps that deal in their advertisement and trading.
Google also expressed concern over the easy access of such apps that put children in danger of readily accessing via the Play Store. The company had initiated the ban on binary options when, in MarchOole play binary options had banned advertisements relating to the topic on Google Adwords.
Google play no longer allows binary options apps
Google Adwords functions as an online advertising service that allows customers to advertise on Google search pages. In the same vein, Google is systematically eliminating any products that market itself on the promise of financial gain.
As of Juneevery advertiser must be certified, under penalty of prohibition, to advertise financial trading products. Therefore, do not prohibit but closer checks for CFDs, contracts for difference, forex spot and financial spread betting.
The best credentials of the brokers that propose them will not be enough to return to Google thanks. Binary options alarm Paving the way in delegitimizing binary options schemes was Israel, which had banned trading within the country, arguing that the trading resembled more with gambling and than investment management.
- Rating of all binary options
- After last year Apple banned the Binary Options app on the App Storelast month Google Adwords banned related ads, this time the Google Play update includes a ban for the Binary Options app for android.
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- As of date, 5 android based binary options apps that stand out are- Anyoption Binary Options Mobile Trading by anyoption is one of the few Android apps for binary options trading that supports a few languages other than English.
In June ofApple had imposed a veto on developers that worked with binary options trading, while Facebook had imposed advertising restrictions on such products in January of last year.
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