Breaking News: 24Option Gets CySEC regulated

With the growing demand of the market and increased scrutiny by many regulatory authorities, many binary options brokers are voluntarily opting to get themselves regulated by an internationally recognized regulatory authority for the binary options industry. With Cyprus as a European Union (EU) member and under MiFID jurisdiction, it has become the preferred destination for brokers to get regulated.

CySEC Regulation

Ever since the imposition of the legal requirement that all financial services providers in Cyprus get regulated, the Cypriot Securities Exchange Commission (CySEC) has been flooded with applications from brokers trying to get a legal mandate to operate within the E.U. Hence, it came as no surprise that Cbay Financial Services Limited, the holding company of , after their submission for licensing a few months back only recently got its approval.

This step towards getting licensed is a necessary move as many countries are now trying to rein in all the unregulated brokers. For example, the Italian government recently started to ban the IP addresses of unregulated brokers to prevent them from marketing their services in Italy. Even the CFTC and SEC in the U.S are also clamping on brokers who previously market their services to U.S based clients.

24Option can Now Work Freely in the EU

With the CySEC license in hand, 24Option as one of the largest binary options brokers around, can now freely extend their services within the Eurozone without any fear of being blacklisted by any regulatory authorities. This is good news for retail customers as they can now trade more confidently knowing that their rights as a consumer are protected by EU mandated regulations.

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