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However, binary options investors should be aware that in the small print of the UK Gambling Commission it is noted that it only regulates a broker if it has remote gambling equipment located in Great Britain. The legal position is different in other EU countries, where different Member States have taken different approaches to the regulatory issue and have considered binary options to be a financial, rather than a gambling product.
Several EU Member States, including Cyprus, have included binary options within the scope of their transposition of MiFID financial instrument. Giambrone has been campaigning for immediate regulation of the binary options market across the European Union to end these inconsistencies in consumer protection and to put an immediate end to such high scale speculation in online trading of such very risky products. It is therefore not uncommon that many EU-regulated binary options brokers appear to be registered in the FCAs Register of financial services firms, although it is not clearly specified that the UK FCA does not regulate them nor it is explained that investor would not be able to enjoy the protection offered by the UKs financial services regulatory framework when purchasing binary options via such registered broker.