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CySEC Issues License to Binary Options Broker Dragon Options

The Cyprus Securities and Exchange Commission (CySEC) has been very rigid in its oversight of binary options brokers after it took over the regulations of the sector in 2012. And yet, from time to time, what seems as an endless list of warnings and fines against such companies is interrupted by more friendly decisions by the watchdog. 

On January 27, 2014, the regulator issued a license to Dragon Options, a binary options broker which is mainly active in Russia and the Commonwealth of Independent States (CIS). The license number is 223/14, and the registration number is 294979 – with this we satisfy the thirst for details of some traders who like to check all of the information. The company has a physical address in Limassol, so you can actually pay a visit to the premises of the broker (in case you have an appointment).
And as we discuss the regulatory status of Dragon Options, we have to note that the company made a wise move by applying for a CySEC license as a Cyprus Investment Firm. Now it's allowed to provide its services across all European countries complying with the MiFID directive. Before getting this important piece of paper Dragon Options had been regulated only by CROFR (or FMRRC), an organization for self-regulation of online trading businesses in Russia. Dragon Options has been a diligent member of the SRO and has passed audits to renew its certificate. In fact, the company managed to renew its certificate on November 28, 2013.
And adding to the positive news, Dragon Options was absent from the list of unregulated binary options websites issued by France's regulator AMF earlier this month. You may recall that the list featured 68 websites. 
We also explored the website of Dragon Options to see whether there is anything particularly interesting. The variety of trading instruments is good: the binary options includes amid other types ones with 60-second expiry time. But what struck me is that there is a binary option based on Bitcoin (the bitcoin/USD pair). Now that's original, especially after regulators across the globe have been issuing warnings against the virtual currencies, with the latest of them being Russia's central bank. It's interesting to see whether Dragon Options will be allowed to keep offering trading with this instrument.
TAGS: dragon options  binary options  binary option broker  online trading  forex  cyprus  cysec  cif  cyprus investment firm  broker regulation  cysec license  forex license  bitcoin 
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