The petty administrative fine was delved out by the Cyprus Securities and Exchange Commission (CySEC) after it determined the company had offered its services online before being officially CySEC-regulated.
The Cyprus Securities and Exchange Commission has today announced that it will hand out a small fine of €5,000 to DC Digital Processing 2 Ltd, a firm related to one of its Cypriot Investment Firms (CIFs), Novox Capital Ltd.
The tiny administrative penalty was related to a historical matter pertaining to the website optionbit.com belonging to a tied agent of the CIF license holder Novox Capital Ltd-which had to do with optionbit.com not yet being fully authorized to advertise its services within the republic of Cyprus, as per its website that CySEC referenced a snapshot from November 29, 2013 until December 2013.
Basically, during that time, and as can be seen by cached versions of the site still available online (historical snapshots), the firm advertised its services yet hasn't yet been regulated as the binary options industry has still been evolving in terms of regulatory applicability - yet nonetheless under the effect of applicable law (in Cyprus) as per CySEC, and with DC Digital Processing 2 Ltd listed as its owner (in the about us section from said snapshot excerpted from the end of 2012).
By becoming an established license holder in a given jurisdiction, like Cyprus, firms are able to help instill clients with the confidence normally associated with regulated companies - as opposed to when compared to an unregulated firm under far less supervisory mandates, if any.
The CySEC fine announced today was decided upon by the regulator on January 13th, 2014, before it had approved Optionbit under the CIF licenses of Novox Capital, and was on the absolute lower end of the spectrum in terms of how much the fine could have been under the applicable law pertaining to the regulation that CySEC cited in its announcement.
Size of Fine Indicative of Severity, or Lack Thereof
More specifically, the maximum administrative penalty for violations under Article 4, Article 141 of the Cypriot Law is capped at €350,000, and the €5,000 handed out in the announcement today shows that while the regulator thought the violation was serious enough to merit a fine, it took into consideration the efforts the company made to rectify its compliance with the relevant rules - as a mitigating factor.
Therefore, it seems that any firm that CySEC finds to be in breach of this article (4) of its applicable rules can expect at least a 5,000 EUR fine in the absolute best case scenario - unless dismissed/or settled some other way, and with the higher end of the spectrum being some 70 times larger.
The Cyprus Securities and Exchange Commission has today announced that it will hand out a small fine of €5,000 to DC Digital Processing 2 Ltd, a firm related to one of its Cypriot Investment Firms (CIFs), Novox Capital Ltd.
The tiny administrative penalty was related to a historical matter pertaining to the website optionbit.com belonging to a tied agent of the CIF license holder Novox Capital Ltd-which had to do with optionbit.com not yet being fully authorized to advertise its services within the republic of Cyprus, as per its website that CySEC referenced a snapshot from November 29, 2013 until December 2013.
Basically, during that time, and as can be seen by cached versions of the site still available online (historical snapshots), the firm advertised its services yet hasn't yet been regulated as the binary options industry has still been evolving in terms of regulatory applicability - yet nonetheless under the effect of applicable law (in Cyprus) as per CySEC, and with DC Digital Processing 2 Ltd listed as its owner (in the about us section from said snapshot excerpted from the end of 2012).
By becoming an established license holder in a given jurisdiction, like Cyprus, firms are able to help instill clients with the confidence normally associated with regulated companies - as opposed to when compared to an unregulated firm under far less supervisory mandates, if any.
The CySEC fine announced today was decided upon by the regulator on January 13th, 2014, before it had approved Optionbit under the CIF licenses of Novox Capital, and was on the absolute lower end of the spectrum in terms of how much the fine could have been under the applicable law pertaining to the regulation that CySEC cited in its announcement.
Size of Fine Indicative of Severity, or Lack Thereof
More specifically, the maximum administrative penalty for violations under Article 4, Article 141 of the Cypriot Law is capped at €350,000, and the €5,000 handed out in the announcement today shows that while the regulator thought the violation was serious enough to merit a fine, it took into consideration the efforts the company made to rectify its compliance with the relevant rules - as a mitigating factor.
Therefore, it seems that any firm that CySEC finds to be in breach of this article (4) of its applicable rules can expect at least a 5,000 EUR fine in the absolute best case scenario - unless dismissed/or settled some other way, and with the higher end of the spectrum being some 70 times larger.
In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions.
We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions.
We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
The FMLS:25 highlights video is now live - a look back at the conversations, the energy on the floor, and the moments that shaped this year’s summit.
While that’s still fresh, the next launches across the FM Events portfolio are already taking shape.
FM Singapore takes place on the 12-14 of May, connecting the APAC market with its own distinct audience and priorities. FMAS:26 heads to Cape Town on 26–27 May shortly after, bringing the focus to Africa’s trading and fintech ecosystem.
Different regions. Different audiences. Same commitment to building the right rooms for meaningful conversations.
More details coming very soon. The launches are imminent. - here you go
The FMLS:25 highlights video is now live - a look back at the conversations, the energy on the floor, and the moments that shaped this year’s summit.
While that’s still fresh, the next launches across the FM Events portfolio are already taking shape.
FM Singapore takes place on the 12-14 of May, connecting the APAC market with its own distinct audience and priorities. FMAS:26 heads to Cape Town on 26–27 May shortly after, bringing the focus to Africa’s trading and fintech ecosystem.
Different regions. Different audiences. Same commitment to building the right rooms for meaningful conversations.
More details coming very soon. The launches are imminent. - here you go
What sources does the Finance Magnates newsroom rely on before publishing a story? #FinanceNews
What sources does the Finance Magnates newsroom rely on before publishing a story? #FinanceNews
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the editorial process: direct industry sources, reports, regulators, social media signals, and thorough cross-checking before anything goes live.
📰 Industry sources
📊 Reports & regulators
🔎 Verification before publication
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the editorial process: direct industry sources, reports, regulators, social media signals, and thorough cross-checking before anything goes live.
📰 Industry sources
📊 Reports & regulators
🔎 Verification before publication
OnePrime’s Jerry Khargi on Infrastructure, Liquidity & Trust | Executive Interview
OnePrime’s Jerry Khargi on Infrastructure, Liquidity & Trust | Executive Interview
Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates.
In this in-depth discussion, Jerry shares:
- OnePrime’s journey from a retail-focused business to a global institutional liquidity provider
- What truly sets award-winning trading infrastructure apart
- Key trends shaping institutional trading, including technology and AI
- The importance of transparency, ethics, and reputation in long-term success
- OnePrime’s vision for growth over the next 12–24 months
Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering.
🏆 Award Highlight: Best Trading Infrastructure Broker
👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview
Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates.
In this in-depth discussion, Jerry shares:
- OnePrime’s journey from a retail-focused business to a global institutional liquidity provider
- What truly sets award-winning trading infrastructure apart
- Key trends shaping institutional trading, including technology and AI
- The importance of transparency, ethics, and reputation in long-term success
- OnePrime’s vision for growth over the next 12–24 months
Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering.
🏆 Award Highlight: Best Trading Infrastructure Broker
👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview
How does the Finance Magnates newsroom decide which updates are worth covering? #financenews
How does the Finance Magnates newsroom decide which updates are worth covering? #financenews
What makes an update worth covering in financial media?
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses.
A reminder that strong financial journalism is built on value, not volume.
What makes an update worth covering in financial media?
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses.
A reminder that strong financial journalism is built on value, not volume.
