CySEC Announces 12 New Licensees – All About Binary Options Brokers

Cypriot regulator, 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, has released the list of firms that have been granted licenses between the period of June and September. Following an increase of approved brokers earlier in the year, when 17 firms became licensed in the first half of 2013, 12 new firms have been added to the list. Among the list includes several firms that have been reported about in an individual post. Leading the way are binary options brokers who comprise the majority of new licenses. The interest for the EU financial regulation comes as binary brokers have been under greater scrutiny from regulators for illegally marketing their products in Europe.

New licenses include:

1. YTF Trade Limited - A Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term related firm
2. Rodeler Limited – Binary options broker under the trading brand of ZoneOptions
3. FT Traderworld Ltd - Binary options broker under the trading brand of TraderWorld
4. Cbay Financial Services Limited - Binary options broker under the trading brand of 24option (reported in August)
5. Trendoks Ltd – Multi-platform forex broker with plans of offering four systems including cTrader, MT4&5, and MarginPro
6. T.B.S.F. Best Strategy Finance Limited - Binary options broker under the trading brand of Cedar Finance
7. B.O. Tradefinancials Ltd - Binary options broker under the trading brand of OptionFair
8. SN Financials Ltd
9. Vinst Capital Limited
10. Growell Capital Ltd
11. A-Conversio Capital Ltd
12. OBR Investments Limited.

Among the firms, Dr. Stelios Platis, Managing Director of MAP S.Platis informed Forex Magnates that YTF, Rodeler, SN Financials, Cbay, TBSF, Growell and BO Tradefinancials received licensing consulting from his firm. Platis added that in October, binary option broker, iOption had also received licensing under the group name Scorpid LTD.