Three binary options brokers that have been present in the trading industry for quite some time now have just obtained licenses from the regulator of financial markets in Cyprus, the CySEC, a regulatory body responsible for overseeing the financial industry and therefore the binary options brokers at the European level. These three brokers that are OptionBit, OptionXP and OptionWorld carry out their brokerage activities in the Novox Capital (for the first two among them) and KJW KrisWorld Development Ltd companies. The license number obtained by the first company Novox Capital is 224/14, which is now authorized by the European regulator therefore it makes it possible henceforth for the two OptionBit and OptionXP brokers to provide their investment services to the European traders. The company KJW KrisWorld Development Ltd. has also obtained the license number 225/14.
The regulation of the three brokers by the CySEC is certainly very good news. However, please keep in mind that a few weeks ago we have published an article dealing with the black list of the AMF wherein 68 unsuitable binary options brokers were identified to French traders by the financial authorities. The websites of the three brokers www.optionbit.com, www.optionxp.com, www.option-world.com were mentioned in the black list of the AMF, the financial markets regulator in charge of overseeing the financial industry in the French territory, which shared with the public that these three binary options brokers were risky and that they were not regulated. Although the license of the Cyprus regulator that has been granted to OptionBit, OptionXP and OptionWorld could drive the AMF to exclude these three brokers from its black list, these are merely speculations at the moment.
The credibility of the financial regulation of Cyprus has suffered greatly in recent times; the regulator had granted its license to the binary options broker iOption and only a few days later, the dealer was closing down and bid its farewell to the world of binary options to the general surprise.
It turns out that Cyprus attracts in its territory more and more companies that claim to be binary options brokers. Such influx in the number of brokers in Cyprus is simply explained by the fact that binary options trading is an increasingly widespread practice since it is a simple way to earn money on the internet, but especially by the many advantages offered by the Mediterranean island when it implements its business; namely the low taxation and simplified administrative procedures are factors that explain the interest of companies in Cyprus.
The CySEC must cope with this influx of binary options brokers and no longer has room for error under the threat of the full loss of its credit among investors and individual traders. This is one of the first regulators to grant permit to OptionBit, OptionXP and OptionWorld, and it will be interesting to see whether other European regulators follow the CySEC and grant their regulation in turn to these three brokers in question here or not.
If the regulation of the CySEC is not enough to convince you to know that there are other binary options brokers regulated not only at the European level by the CySEC, but also by the AMF in France and by the CNMV in Spain, by the CONSOB in Italy and by the FCA in the United Kingdom, with the same characteristic as the OptionBit, OptionXP and OptionWorld brokers.
The OptionBit and OptionXP brokers provide their traders with a Tradologic signed platform; the OptionWorld broker on the other hand provides its traders with a SpotOption platform. You can find the same work environment for brokers who have managed to convince a multitude of international financial regulators besides the CySEC and therefore inspire even more confidence than the three brokers mentioned here-above.
For example, the OptionWeb and TopOption brokers, regulated and licensed in a multitude of European countries and who have acquired licenses from a multitude of financial authorities offer their traders to practice binary options trading through a Spot Option platform and are therefore good alternatives if we prefer to avoid the previous three brokers.
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