The information contained in this article is provided for informational purposes only and should not be construed as legal advice on any subject matter.

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Binary Options Restriction Cyprus 18 October For a long time, binary options trading was a popular financial tool for traders. It is one of the easiest ways for a beginner to start trading. Such options were available in many European countries, and Cyprus was no exception. Restriction of binary options On the 10th of July , the National Competent Authority of Cyprus regarding market security regulation, Cyprus Securities and Exchange Commission CySEC decided to implement the national measures to restrict the marketing, distribution, and sale of Contracts for Differences CFDs.

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The CysEC regulation can be seen as the gold standard for brokers and it gives binary options traders confidence in knowing that the broker they are trading with is safe and secure. In order for brokers to gain membership into CySEC they must fulfil certain criteria which include showing enough capitalization to cover their market exposure.

CySEC continues to enhance its oversight by making changes within the industry and implementing an ever-toughening stance on the brokers. Its powers include the ability to revoke membership and to impose fines on those brokers not keeping to the stringent regulatory requirements. As a major banking centre Cyprus binary options brokers tend to accept all major credit and debit cards like MasterCard, VISA, JCB, Diners and American Express.

There are of course many local and international banks located in the Republic of Cyprus and in the capital Nicosia, which allow wire transfers and other remittance services, which means moving money into and out of Cyprus is relatively simple and fast. E-wallets or electronic wallets are also commonly accepted by binary options brokers in Cyprus. This is often the fastest and cheapest way to deposit accounts in Cyprus based Binary options brokers.

As a hub for offshore banking Cyprus is technologically and financially advanced in terms of the banking services on offer. As a major banking centre, Cyprus has always welcomed international investments from external sources. This can be seen no less than by the high percentage of deposits in Cyprus banks which are from non-domiciles. Cyprus as a leading regulator of Forex and binary options trading also welcomes the trade from this area of the financial markets as long as the broker is a member of their local regulator CySEC.

This also permits the broker to offer their trading services across the entire Eurozone. More and more binary options companies are basing themselves out of the Island of Cyprus, as it is relatively easy and low cost to get regulated in this region. Meanwhile the regulation is seen as a leading one which protects the interests of the traders and those brokers with integrity are happy to take the steps necessary to get regulated in this region. A trader must first open a trading account with a local broker.

In order to do this he must send documents to prove his identity.

Binary options are a relatively new method of trading; it is one of the easiest ways for the average person to start trading on the stock market. The majority of binary options brokers are currently based in Cyprus ; this has resulted in it becoming the primary regulator of binary options brokers in the world!

Every binary options business based within Cyprus must adhere to the Cyprus Securities and Exchange Commission. Unfortunately; there have been some rogue brokers and this, along with the relative smallness of Cyprus as a country as made people wary as to whether brokers based in Cyprus are a good option or not.

Cyprus is part of the European Union and, as such must abide by the European trading rules; this is particularly relevant when considering binary options as the European Union has strict financial rules.

On top of this, Cyprus binary options brokers must adhere to Cypriot laws, which are some of the most stringent in the world. The following information will help you to understand the binary options laws in Cyprus and how they protect you, the consumer, the companies listed in this article are all fully registered and the regulations they abide by will be relevant anywhere in the European Union. It is not a commonly known fact but Cyprus was actually ahead of the game when it came to regulating financial betting.

In fact this was a clever business move. By being one of the first to regulate binary options, they would attract more binary options brokers than other countries. All laws, whether new or old must be in-line with current European legislation. Cyprus was careful to consider this before creating the new laws; thereby ensuring they would apply to all European member states. It is for this reason that it is not possible to state that Cypriot based brokers are badly regulated or that the laws are inadequate; this is simply not an option when the laws must be enforceable across the whole of Europe!

To confirm this you merely need to look at the Cypriot investment regulations and compare them with another country in the European Union, such as the UK. You may be amazed to see how similar these laws are!

Thanks to the European Union, binary options licenses issued in Cyprus are actually valid in the UK! This is government body, based in Cyprus, also known as CySEC. It is responsible for creating, implementing and regulating new laws relating to securities and exchanges. Binary option traders come under this heading and any business which has a binary options license, or is interested in getting one will need to abide by these rules and regulations.

It is the responsibility of CySEC to check that all businesses registered with them are adhering to their rules. This ensures both Cypriot and European Union laws are upheld. Those who choose to work outside of these laws or regulations will be punished and the issue rectified. There are several options when it comes to providing a fair punishment; in first instances and relatively simple cases the broker will usually be required to implement changes to ensure they adhere to the rules in future and they will be liable for a large fine.

However, if the regulations are repeatedly or seriously broken then CySEC will fine them and remove their license; effectively preventing them from trading anywhere in the world. CySEC take their role very seriously and are known to uphold the regulations vigorously. It is tempted to think of Cyprus as a small country with no real power; this can make it difficult to have confidence in businesses regulated and based there.

However, Cyprus is a full member of the European Union, as such it must adhere to European rules and regulations, in return it has the full backing of the European Union. IF Cyprus chooses to ignore the European Union they will be expelled from the European Union and face economic hardship.

This is more than enough incentive for them to adhere to the rules and should inspire confidence that you can trade with a Cypriot based company, no matter where you are located in the world.

There have been concerns that any funds placed with Cyprus-based brokers can be seized by the Cypriot government. This was a measure taken by the Cypriot government to help the economy rebuild after the last big recession. However, almost all Cypriot based brokers actually keep their funds in banks outside of Cyprus, Switzerland and the UK are two of the most common places.

In fact, the reduction in deposits introduced by the Cypriot government had no effect on any of the money invested or held by Cypriot based brokers. Your money is as safe with a Cypriot broker as anywhere else in the world. Toggle navigation. AUTOMATED BINARY OPTIONS TRADING. TOP3 ROBOTS ROBOT RATING BinBot Pro Review 5. Subscribe To Trading Secrets. Popular Articles Best Binary Options Brokers US Binary Options Brokers UK Binary Options Brokers Australian Binary Options Brokers European Binary Options Brokers Islamic Binary Options Brokers Bitcoin Binary Options Brokers Paypal Binary Options Brokers Skrill Binary Options Brokers South African Binary Options Brokers Binary Options Trading In Malaysia Binary Options in Japan Cyprus Binary Options.

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Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. The CySEC is administered by a seven-member Board, which consist of the Chairman and Vice-Chairman, each of whom provide their services on a full and exclusive employment basis, and five additional non-executive members. However, it is an expensive investment tack and can result in the loss of large sums of m CySEC is currently chaired by Demetra Kalogerou, who has held the role since AGP Law Firm at the Best Invest Congress… AGP Law Firm was one of the Sponsors of the Learn More Accept.

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