Every country usually has its own financial regulator body which watches financial services sector and audits them as necessary. In simple words the regulating organization monitors that the services offered by the companies are fair, easy to understand as much as possible and correct.
Below is of bodies which monitor not only binary option brokers, stock brokers, forex dealers, and commodity exchanges but everything else to do with money. including banking. Within EU one financial service provider has the ability to passport(export) it’s services outside it’s country of registered address but within the EU without having to get permission to trade in foreign country. For example a registered binary option brokers in UK can sell its service in Malta or any other European Union country without requiring to register in Malta first.
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There could be some scam brokers who might advertise that they are regulated by a specific countries regulatory agency, but it is the responsibility of the trader / investor to double check that. Usually the regulating body issues the broker a license number and/or publishes the name of its company on the regulator’s website.
Go here to see blacklisted brokers who are NOT regulated.