Cyprus Securities and Exchange Commission (CySEC), the financial regulatory body, is regulating binary options brokers for the betterment of enthusiastic binary option traders. Binary trading, which CySEC had not considered a financial instrument up to the last month, considers it as a standard option to invest money. CySEC has categorized it as a financial instrument under the Investment Services and Activities and Regulated Markets Law of 2007-2009. Since this announcement has been made, the entire binary options market has started recasting its body and changing work policies and rules. The great impact it has put on binary options is that binary brokers will now have to get a license for offering trading services properly. At present, the traders are associating themselves with the traders who are reliable and licensed.
Binary trading is one of the safest and easy ways of trading where instruments like forex, stocks, commodities, and other instruments can easily be traded in. As investing in binary options is way different from trading in traditional market, it was not regulated by any central organisation. The popularity of binary trading market has led CySEC to take decision of regulating after months of forethought and they finally declared binary options trading as a financial instrument under the law. It has obligated several companies to apply for licenses to remain in the regulated options trading services.
Impact of Regulation
With this decision, many financial companies are obliged to take CIF (Cyprus Investment Firm) license from CySEC to become regulated binary brokers if they want to continue with offering binary trading services. The companies, which hold CIF license and offer binary trading services under the category of ‘other services,’ will require altering their license as per the new regulation.
The companies or brokers who are not holding CIF license at present will have notify CySEC their intensions for submitting applications to obtain license. The brokers or companies can apply for a license within the six months from the date of announcement for acquiring license. The firm or brokers who do not have intentions to apply for the license and providing regulated binary options trading services will have to stop their services within a maximum of 30 days from the announcement date.
SpotOption: First CySEC Regulated Binary Options Trading Platform
The traders who have faced some sort of trouble in unregulated market can now freely trade in the market without worries. It is compulsory for financial binary trading institutions to acquire that license if they wish to continue with the trading. SpotOption is the company that realised the need license for regulation and worked with CySEC in collaboration. will safeguard the interest of investors and offer safe platform to invest money.Incoming search terms:
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