Binary Options Broker TDOptions Gets Fined €50,000 By CySec

The Cyprus Securities and 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), the financial regulator in the Island nation has announced today that binary options broker, TDOptions.com registered as TDO Consulting Ltd was fined €50,000. Consequently the binary options broker made a settlement of the amount in question.

In a statement on the regulators website, CySec states that the broker was in breach of article 4(1) of the Investment Services and Activities and Regulated Markets Law of 2007, by the Company because it appeared to have been offering investment services (in binary options) until December 2012.

Cyprus was the first EU regulator that endorsed the short-term trading product, on 5th May 2012 CySec made the announcement that it would officially recognise binary options as a financial instrument.

Cyprus has been a magnet for firms taking advantage of low taxes and sound infrastructure to offer binary options. Since the new regulations CySec has been filtering out the regulated firms from the un-regulated. Firms will be registered as CIF and will be under the scope of Law 144(I)2007.

In the official order CySec stated: “The settlement reached concerns alleged violation of article 4(1) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended (the “Law”) by the Company because it appeared to have been offering investment services (in binary options) on a professional basis until 3.12.2012, without an IF licence according to the Law. The Company has paid the amount of €50.000.

Banc De Binary, a CySec regulated broker was recently sanctioned by US regulatory authorities for offering a regulated product without the correct authorisation.

Update: The fine is in Euros, it was previously stated in $ in the headline and first paragraph.