The regulator of financial markets CySEC (Cyprus Securities and Exchange Commission) whose role is to oversee the financial industry at the European level and therefore the financial entities, forex brokers as well as binary options brokers held a briefing with the local media of the Mediterranean island of Cyprus by having taken part in its future goals for the year 2014, also referred to its rather provoking course compared to 2013. The press release officially published by the CySEC against its priorities for the coming year is rather encouraging as it restores confidence and promises us a decrease in fraud as well as in the risks of the financial industry that can often shake the financial system and affect users of financial services (such as binary options traders).
The CySEC regulator shows that it remains indeed present in the trading industry and ensures that financial regulation is respected by all participants that are involved in this environment through its mechanisms of market surveillance and preventive and restrictive interventions. Issuing warnings to traders and investors is a key element on which the CySEC will intensify its efforts. Demetra Kalougerou, the representative of the CySEC who also acts as chairman of the committee, seems quite confident and stated that despite the financial damages produced by several companies based in Cyprus and that could harm the image of the nation, trust can be regained since the regulator does not hesitate to act accordingly and severely punish ill-intentioned companies.
The regulator of financial markets, i.e. the CySEC, reserves the right to impose substantial fines up to an amount of € 850,000 with respect to binary options brokers. The Chairman of the Committee has stated that he continues to receive numerous complaints with respect to the CIF license; a multitude of binary options brokers apply for the license of the CySEC regulator, which still shows that binary options continue to have potential and generate a certain interest.
The transmission of information is the principal means of action that the CySEC uses in order to keep the public informed of the companies to which this latter may have recourse in financial services as well as the companies that should best be avoided based on the violations that the regulator identified against them. This includes binary options scams or the regulator’s denial of the license given that the activities of the company in question is non-compliant with the European financial regulation. Within the financial industry, the CySEC remains the regulator of reference and intends to strengthen this communication in order to gain better credibility and attract to Cyprus new companies and serious brokers wishing to do business and obtain the official license of the regulator and thus gain credibility and be among the best binary options brokers in Europe.
In 2013, the CySEC prevailed many times over the disreputable binary options brokers and communicated intensively with traders thereon in order to prevent the risks they incur through the use of financial services thereof. For example, a first warning against the TraderXP broker was launched, whereby the competent authorities of Cyprus have also issued a warning to traders against the NRGBinary broker. The regulator has also temporarily suspended the CySEC license of the Cedar Finance broker. The CySEC also issued a warning against PlanetOption at the end of the year and another warning against LBinary. As far as penalties are concerned, the Cyprus regulator imposed a penalty of € 15,000 against the ZoomTrader broker. The OptionBravo and ChargeXP brokers have also been financially penalized. The CySEC has also indicated that it has voted to reject the ShortOption license application. However, the regulator does not only crack down, it also rewards the most serious binary options brokers. For example, this was the case of the OptionFair broker who has obtained the CySEC license at the end of the year.
As you can see, a broker that is regulated by the CySEC and thus obtained its license is synonymous with quality. Several brokers such as 24Option, AnyOption, OptionFair, OptionWeb and TopOption are regulated by the CySEC in addition to being regulated to the most part by other regulators of international financial markets such as the AMF (France), the CNMV (Spain), CONSOB (Italy) or the FCA (UK). This reflects the seriousness and the good image that these brokers enjoy with the authorities and traders.
Also when choosing one of these regulated and authorized brokers, we remind you that you will be able to enjoy exceptional bonuses. Given our relationship with these brokers, we have been able to negotiate the best bonuses in terms of binary options. For example, when opening a TopOption account, you can enjoy a 100% bonus on your deposit whereas this broker simply does not offers any deposit to its new traders under normal circumstances. Also, the BonusBinaryOptions.net guarantee is also a second benefit that you can take advantage of; this warranty is a protection that we offer you and which will allow you to benefit from our support in case of problems encountered with a broker appearing on this website.