Binary options in Greece & Crete: banned for retail traders
Also covers: Crete
Retail binary options are not legally available in Greece. We don't rank or recommend any binary options broker here. Using a VPN to get around a broker's country block breaks its terms and can get your account frozen.
- Why:
- Retail binary options are prohibited under national product intervention measures adopted by the national regulator (HCMC) after the EU-wide ESMA ban of 2018.
- Regulator:
- Hellenic Capital Market Commission (HCMC)
How CFD trading with XM works
CFDs let you speculate on price moves in currencies, indices, commodities and shares. Unlike binary options there is no fixed payout: profit and loss depend on how far the price moves, and leverage magnifies both.
- 1
Open an account and verify your identity with an ID document and proof of address.
- 2
Deposit from $5 by card, e-wallet or bank transfer, depending on your country.
- 3
Practise first on the free demo account with virtual money.
- 4
Choose an instrument – a currency pair, index, commodity or share – and click Buy if you expect the price to rise or Sell if you expect it to fall.
- 5
Set a stop-loss to cap your loss and close the position whenever you want: the result depends on how far the price moved.
- • Binary option: fixed payout or total loss of the stake at expiry.
- • CFD: open-ended result; you choose when to close, and leverage can multiply losses.
Greece: frequently asked questions
Are binary options legal in Greece?
No. Retail binary options are prohibited in Greece (HCMC). Brokers that accept residents anyway are operating without authorisation.
What can I use instead of binary options in Greece?
XM accepts residents of Greece for CFD trading. CFDs are also high-risk; read the risk warning first.
Can I use a VPN to trade binary options from Greece?
No. Brokers verify your ID and address before paying out. Trading through a VPN breaks their terms and can lead to a frozen account and lost funds.