The brokers BuzzTrade, CFD Royale and Uptrade7 suspended by the CySEC

BuzzTrade CDFRoyale Uptrade7 suspended cysec 

The CySEC is well-known as a strict and serious financial regulator. It was recently investigating 3 binary options brokers and the verdict was just announced, banning them from associating with regulated binary options brokers who are regulated with financial authorities.

 

Who is the financial regulator CySEC ? 

 

The CySEC (Cyprus Securities and Exchange Commission) is the financial regulator in Cyprus. As a financial authority, the CySEC control, regulate and supervise the activity of investment companies in Cyprus. This financial regulator is considered as a reference on a european point of view, therefore many investors follow its advice, recommendations and warnings.

 

Like the AMF in France, the BaFin in Germany, the CNMV in Spain, the CONSOB in Italy and the FCA in the United Kingdom,  the CySEC monitors the activity of financial services on its territory with an iron fist. CySEC’s mission is to monitor a lot of companies, including binary options ones. When a binary options broker applies with CySEC to be authorised, this authority controls its candidacy and its quality of service, and grants the licence if the company respects the local financial laws and cancel the candidacy if not.

 

The CySEC is also a financial regulator whose aim is to expose scamming companies by punishing those who don’t respect financial laws or who didn’t behave. Therefore, the CySEC is able to revoke the licence from a broker (the company to which it belongs) or impose a fine for several hundred thousands of euros. The CySEC is a strict financial authority and we reiterate, it is the reference in matters of regulation for binary options.

 

The CySEC suspends brokers’s licences

 

The financial regulator CySEC recently punished three binary options brokers who had possessed its licence for a few years. In fact, these 3 brokers are BuzzTrade, UpTrade7 and CFD Royale, they all belong to the company AirFinance Pro Ltd. The CySEC licence had been granted to this company because its activity seemed legit and conformed to investments and market rules edited by the CySEC in 2007. It seems that the CySEC detected some breaches of their regulations in the activity of these brokers, therefore it was decided to give them a temporary suspension of their licence til September 16th 2016. These brokers have to suspend their activity and refund their customers until the end of the suspension.

 

Choosing a well-known binary options broker

 

It’s one of the best things you can do as a binary options trader. Why choose a broker with a bad reputation and take the risk of being a victim of scams ?

 

In order to choose a well-known binary options broker, a trader can gather information about the broker on the internet. They can check the reviews of previous brokers and also verify if the broker is registered with the financial authorities of its country. There are hundreds of unauthorised brokers, who are listed in the blacklist of the Financial Market Authority (AMF, french regulator). On the other hand, authorised brokers create a great image for binary options.

 

Among the regulated brokers, we have 24Option who’s one of the leaders in the international binary options market. 24Option owns the licence of the CySEC and appears to be a serious binary options broker. This broker also owns the licence of the AMF, the BaFin, the CNMV, the CONSOB and the FCA, as well as the brokers OptionWeb and AnyOption.

 

The advantages of BonusBinaryOptions.net

 

When you open a trading account using a link on our website, you benefit from a negociated bonus on your first deposit. For example with 24Option, when you open a 24Option account via our website, you will receive a negotiated bonus of 100% on your first deposit, instead of 20% for other new traders. 

 

In other words, thanks to our website, you can double your first deposit and be granted the BonusBinaryOptions.net guarantee. This guarantee is a protection that allows you to be covered and protected by our team in case of a dispute arising with a broker. Whatever the dispute, (Problem of account validation, withdraw or bug on the trading platform) we will examine your case if you ask us to and will fix the misunderstanding as soon as possible, thanks to our privileged relationships with the main brokers of the binary options market. 

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