Brokers News

Cypriot Watchdog Gives License to Binary Options Broker 24Option

Aug 29 2013 11:05:02 GMT
By
Maria Nikolova , Forexbrokerz.com Find me on Google+

An exciting piece of news about regulation of binary option brokers emerged today, as 24option, part of the Cbay Financial Services Limited, has joined the rank of such brokers with Cypriot regulation. According to an exclusive report by Forex Magnates, the Cyprus Securities and Exchange Commission (CySEC) has given the nod of approval to the firm's application for a license in Cyprus.

 
Apart from allowing the broker to expand its operations, boost its reputation and credibility, the license sets 24option aside from many of its competitors which prefer to remain unregulated in the fuzzy field of binary option trading. Regulators in various countries have taken a different approach to binary options, mostly because these instruments inhabit the area between finance and gambling. And while in many countries, like Russia and China, for example, these instruments remain unregulated and trading with them flourishes, other regulators have taken a stiffer stance. 
Japan is currently working on regulating binary option trading and Malta has already acted to introduce rules that treat binary options like financial instruments, falling under the scope of the MiFID Directive. 
 
CySEC is in fact the pioneer in regulating binary options as financial instruments: perhaps you recall that in May 2012 it registered binary expert SpotOption as a Cyprus Investment Firm (CIF). Alike SpotOption, 24Option will be able now to get into partnerships with other CIFs: these include white-label relationships. The company will be able to benefit from a raft of tax deductions and other incentives too. 
 
However, the news of the licensing of 24option comes just months after the Cypriot financial sector experienced one of its severest crises, which also affected the FX sector. The latest problems created by the changes of CySEC's opinion concerning the operations of Cyprus-regulated brokers in countries outside of the European Union have not helped local FX firms either. Let's hope that the regulatory climate will be more mild and beneficial for 24option.
 

About 24option: 

 
24option is a binary option broker, a part of Cbay Financial Services Limited, with a main office in Limassol, Cyprus. The company is committed to providing its clients the best service – no wonder then that you can get in touch with 17 different local offices and access customer support in the desired language. The broker allows trading in a raft of options: touch-no touch; boundary; high-low, etc. The expiry times of the instruments also vary: from the end of hour to the end of week.
TAGS: 24option  24option binary options  24option license  24option regulation  binary option broker  forex regulation  cyprus  cysec  cyprus securities and exchange commission 
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
US, UK, Australia CFTC/NFA, FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, Web,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Bulgaria FCA, FSC Web $150 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website

More Forex Brokers News

Admiral Markets amends margin requirements

Jan 19 2017 14:59:35

Admiral Markets, a European forex and CFD broker, said it is amending the margin requirements on the instruments it offers on some of the live trading accounts.    According to the broker, the changes will apply to all positions opened on Admiral.Markets and Admiral. Read more

eToro takes ETFs to a next level of Copy Trading

Jan 18 2017 15:20:51

Innovative forex broker and social trading network eToro launched a new investment service called CopyFunds, which takes exchange-traded funds (ETFs) to a whole new level.   ETFs allow traders to invest in a whole sector or market trend, not just in one company or commodity. Read more

XM is only forex broker in World Finance 100 2016 list

Jan 18 2017 12:47:05

XM, a European forex broker regulated by UK's FCA and the Cyprus Securities and Exchange Commission (CySEC), said it has been included in the World Finance 100 list for 2016. Read more

Interactive Brokers’ income before taxes increases by 66.2% in 2016

Jan 18 2017 08:39:23

Multi-asset automated brokerage Interactive Brokers (NASDAQ GS: IBKR) announced key financial and trading metrics for 2016 on Tuesday.  Leading US broker and a market maker reported its income before taxes for 2016 came in at $761 million, which is a growth of 66.2% compared to 2015. Read more

Swissquote’s social network Pulse now available on iOS devices

Jan 17 2017 15:06:27

A bank, a major FX and CFD brokerage, as well as a fintech pioneer, Swissquote announced that its recently launched social network, called Pulse, is now available on iOS devices. Read more

Morgan Stanley raises its stake in Plus500

Jan 16 2017 15:31:23

Morgan Stanley, the US multinational financial company who is among the major stakeholders in the London Stock Exchange (LSE)-traded forex broker Plus500 (LON:PLUS) has raised its stake in the company to pass the 6% threshold. Read more

IG urges its clients to take a stand with regards to FCA’s proposals

Jan 13 2017 08:36:04

Major brokerage IG Group (LON:IGG) encourages its clients to share their opinions about the recent proposal from the Financial Conduct Authority (FCA) to raise margin requirements for CFDs and spread betting, among other things. Read more

FXCM sees December, Q4 2016, annual trading volumes fall

Jan 12 2017 14:31:39

FXCM, the leading US forex brokerage saw a double-digit decline in its December retail and institutional trading volumes both on a monthly and annual basis, show the officially released company metrics. Read more

IG Group renames binary options to “Digital 100s”

Jan 12 2017 10:44:34

 IG Group, one of Europe's largest forex, CFD and spread betting (UK only) brokers has rebranded its binary options products and now calls them “Digital 100s”. Read more

It's official: Banc De Binary renounces Cyprus license

Jan 11 2017 12:43:49

 Banc De Binary, the largest and oldest regulated binary options broker has renounced its Cyprus license, several days after the first reports that it is planning to shutter its business and has stopped taking clients from the EU. Read more