Cyprus Watchdog Warns Against Unregulated Binary Brokers, LBinary and Regal Options

The Cyprus Securities & Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) issued today two separate warnings to traders about the operations of unregulated binary options brands.

Following up on its previous announcement from June 19, 2014, CySEC said it wishes to inform investors that the company, T.B.S.F. Best Strategy Finance Ltd, operating the binary brand Regal Options, is not permitted to provide investment and related services in Cyprus in accordance with the Investment Services and Activities and Regulated Markets Law, as the firm's authorization from the Commission was revoked.

The second warning from CySEC was about the firm Chelestra Ltd, operating under the brand of LBinary. The Commision said Chelestra is not legally permitted to provide investment and related services in Cyprus as it has never been authorized nor regulated by CySEC, and also no notification has been received by the Commision from a competent authority of another EU Member State, pursuant to the above mentioned Law and the MiFID “passporting” agreement. CySEC had already issued a similar warning about LBinary in January.