The ZoomTrader broker is ordered by the CySEC to pay a fine of $15,000

zoomtrader amende cysec
The Financial Markets Authority CySEC has recently issued a warning against the PlanetOption broker and a little earlier against NRGbinary but also against TraderXP; the controller continues its momentum against the bad binary options brokers and it now addresses the ZoomTrader. Today, the controller did not warn traders and other investors against the broker in question here but it has taken repressive measures as it has decided to impose a fine of 15,000 dollars against the mother company of the broker, Zoomparters Ltd, which actually hides behind the ZoomTrader brand.

The official statement of the CySEC outlining the financial penalty can be found on this link (in Greek only).

The sanction of the CySEC

In their statement, the financial authorities declare that the Zoompartners Ltd company has violated the Article 4 of the law relating to the investment services and the activities of the financial markets by allowing traders to speculate on various markets through binary options via its web trading platform without having first obtained a license from the CySEC (Cyprus authority that regulates the trading industry at the European level) and since the month of October 2012.

In theory, the maximum penalty to be imposed on the broker was in the amount of 350,000 dollars. The fine is only 15,000 dollars and thus it remains marginal compared to the sanction that could have been taken by the CySEC; this preferential treatment is explained by the fact that the broker has nevertheless submitted a documentation to obtain a license and to carry on its business under the jurisdiction and supervision of the CySEC. The ZoomTrader broker is doing well given that the situation could have been much more catastrophic than that of the latter.

The ZoomTrader binary options broker

Recently founded in 2012, the ZoomTrader broker is one of the young binary options brokers that entered the market much later than regulated brokers such as OptionWeb which is regulated by the CySEC and the FCA/FSA, TopOption which is regulated by more than 10 international authorities or 24Option which is also regulated by the CySEC; unlike ZoomTrader, these kinds of brokers have been proven and are already present for many years in the binary options world.

The parent company Zoomparterns Ltd. under which the broker ZoomTrader broker operates is based in Mahe, Seychelles. The broker offers its traders a wide choice of trading instruments ranging from the currency pair to stocks and returns on investments that may seem interesting because they reach up to 83% without forgetting the minimum deposit of $100 and the trading turbo (60-second binary options), which is a trading method that is increasingly popular and that is also available with this broker as well as among brokers such as 24Option and OptionFair, another example of a broker that has just received the CySEC license and that also offers this type of binary options.

zoomtrader plateforme

The major difference between the two brokers that we have to refer to with the ZoomTrader broker is the regulation. 24Option and OptionFair are regulated by the CySEC; they have the license of the Cyprus regulator and their activities thus correspond to European financial standards which is the contrary of ZoomTrader, which to this day, does not have this famous license and therefore is not a totally safe binary options broker.

Choose a regulated binary options broker

Although trading conditions may seem interesting where the security aspect is not neglected, the broker has no guarantee and it is best to move towards regulated binary options brokers that have a better reputation and with which traders are satisfied.

Several regulated binary options brokers that have been previously discussed in this article offer many advantages to their traders; this concerns both the trading conditions and their regulations, their online training centers and their excellent reputation. The traders can even take advantage of additional benefits by being a reader since our team has exceptionally negotiated exclusive bonuses with them.

When opening a trading account with OptionWeb, a reader may benefit from a bonus on the 100% deposit, while the bonus that is usually provided by OptionWeb to its new traders does not exceed 20%. The same bonus can be obtained by opening a trading account with 24Option, which is also a broker that offers only 20% bonus for new traders under normal circumstances. The guarantee is another advantage that traders can take advantage of; it is an additional security that we offer and which aims to protect the traders. In cases of conflict encountered with your binary options broker, our team is committed to represent you and resolve the misunderstanding in question.

0 0 0 0 0



Subscribe now and receive a free ebook on the best strategies to gain in binary options!

24 Option
0 Reviews
0 Reviews
0 Reviews
Brokers Selection
This month's offer logo 24options

100% exclusive bonus (instead of 20%) on your 1st deposit from €250 on the best regulated broker 24 Option! (Bonus terms and conditions apply)