Cypriot regulator, CySEC, 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:
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- YTF Trade Limited – A forex related firm
- Rodeler Limited – Binary options broker under the trading brand of ZoneOptions
- FT Traderworld Ltd – Binary options broker under the trading brand of TraderWorld
- Cbay Financial Services Limited – Binary options broker under the trading brand of 24option (reported in August)
- Trendoks Ltd – Multi-platform forex broker with plans of offering four systems including cTrader, MT4&5, and MarginPro
- T.B.S.F. Best Strategy Finance Limited – Binary options broker under the trading brand of Cedar Finance
- B.O. Tradefinancials Ltd – Binary options broker under the trading brand of OptionFair
- SN Financials Ltd
- Vinst Capital Limited
- Growell Capital Ltd
- A-Conversio Capital Ltd
- 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.