CySEC Warns Against Trading Binary Options With BuzzTrade and AirFinance Pro

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As part of the EU, Cyprus built its reputation as one of the key financial centres in the European Union. It has also quickly grown to become the top regulator of forex and binary options brokerages wanting to operate in the EU.

The popularity of CySEC is a result of a business-friendly tax regime and the ease of operating a financial service in the region. As part of the EU, Cyprus-regulated firms 99 cysec binary options brokers legally offer their financial services, such as binary options and forex trading, to EU residents, thus making it an ideal regulator for most brokerage businesses in Europe.

CySEC, as a financial regulator, is tasked with oversight of the financial industry based in Cyprus. The commission is administered by a five-member board. CySEC's mission is to ensure investor protection and to develop healthy competition in the securities and the financial markets. Its responsibilities include constantly monitoring the financial businesses registered in its jurisdiction. The commission also conducts audits on the licensed entities and has the power to revoke licenses.

CySEC regulated brokers, as a result, have grown to be more trusted among the retail 99 cysec binary options brokers industry, which includes forex and binary options traders. This comes 99 cysec binary options brokers a host of new measures undertaken by CySEC to ensure fairness and transparency among the financial institutions licensed with the authority.

In fact, the watchdog is well known for sending its warning letters to the investment and financial services companies and, in some cases, withdrawing licenses from some of the businesses it regulates. Following the strong growth in the binary options trading industry, CySEC was the first financial regulator to move toward recognizing and bringing binary options trading under its jurisdiction. Binary options were classified as financial instruments inand thus, businesses that offered binary trading to retail clients had to obtain CySEC licenses.

The move came amid a plethora of various binary options white label operators. At that time, hundreds of binary brokers were operating 99 cysec binary options brokers the globe, and many of them obtained the newly created licenses. With the growing pressure from local financial regulators in France and Belgium, CySEC was forced to tighten the binary options industry. Inthe Cyprus commission implemented new rules, mostly concerning the advertising and marketing tactics that brokers can use in targeting new clients.

The new regulations led to most binary companies shutting down. Although brokerages regulated by CySEC can offer their services to most of Europe, the companies are also required to adhere to the regional laws enforced by the respective financial institutions. Despite the stiff regulations, there are still brokers that continue to offer binary options to EU retail traders.

Such brokerages need to follow not only the CySEC rules but also to 99 cysec binary options brokers to the regulations in other European countries. AMF is the regional financial regulator for France. Working as an independent body, AMF regulates all financial businesses registered in its 99 cysec binary options brokers.

The French regulator also aims to safeguard the interests of the French residents through a series of measures, which include banning illegal financial products and conducting investigations. Bythe AMF mandated changes to the retail brokerage business, including forex and binary options. These mandated changes included banning all electronic advertisements targeting French citizens for forex, CFDs and binary options products.

The AMF is also very active in issuing public warnings against binary options and forex brokers that continue to offer their services unregulated in France. BaFin is the Federal financial supervisory authority for Germany. As with most other financial supervisory institutions, the BaFin is tasked with ensuring market integrity and regulating the offer of financial products.

Among the series of measures taken, BaFin stated the above service providers must ensure negative balance protection. The rules were implemented in early Augustand the 99 cysec binary options brokers joins the ranks of other regional financial regulators in the EU that have come down strongly on the OTC trading industry.

Although the above conditions are restrictive for binary options brokers, the rules and regulations imposed by the financial regulators are in the best interest of the traders. There are numerous examples of how traders were not paid or were scammed. In most of these cases, the culprits were the 99 cysec binary options brokers or offshore companies. As a binary options trader, it is in your best interest to carefully scrutinize the broker that you want to trade with.

Choosing to trade with a CySEC regulated firm will ensure your money is protected in a segregated account and the broker cannot block your withdrawals for no reason.

Skip to main content. Binary options in the European Union Following the strong growth in the binary options trading industry, CySEC was the first financial regulator to move toward recognizing and bringing binary options trading under its jurisdiction. Benefits of trading with a CySEC regulated broker Although the above conditions are restrictive for binary options brokers, the rules and regulations imposed by the financial regulators are in the best interest of the traders.

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42 comments Broker trading online

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We try to investigate and sort things out with the broker if possible. If not we will blacklist these brokers, labeling them binary options scam. We saw a niche that has potential but is full with fraud and unethical activities.

As the binary options phenomenon has grown, so have various ways fraudulent binary options brokers found to trick their customers. While regulation from the side of CySEC and other bodies such as the FSA, ASIC and others did help to bring a minimum set of standards binary options brokers must adhere to, we are still seeing widespread use of shady practices that can cost traders money.