Cyprus Securities And Exchange Commission Binary Options
Who Regulates Binary Option Brokers? Attractive returns and freedom to choose trade timings are the primary reasons for scores of individuals belonging to varied walks of life to get attracted to binary options trading. However, this nascent industry is plagued with fraudulent brokers who look for every opportunity to rip their clients. To protect clients’ interests, regulatory agencies across the world are doing their best to streamline the operations of the industry. From a trader’s perspective, ultimately, protection of capital is vital while dealing with any binary broker.
The Cyprus Securities and Exchange Commission (“CySEC”) has issued the Circular No. C126 providing a general overview of the requirements for Cyprus Investment Firms (CIFs) offering services related to binary options or intending to do so. Our Mission is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.
In this regard, let us study the manner in which the binary options industry is regulated by the prominent government authorized agencies. Contents • • • • • • • Cyprus Securities and Exchange Commission (CySEC) Binary options trading came under the watchful eyes of on. Being the first country to regulate OTC binary options industry, CySEC leads other regulatory authorities in framing rules for the governance of the industry. Invariably, most of the big binary brokers have their headquarters, or at least their regional office, in Cyprus. The country is a. Thus, finance related firms, including binary brokers, operating in Cyprus are governed by the. By having an office in Cyprus,.
Cyprus Securities And Exchange
Thus, CySEC plays an important role in the overall functioning of the binary options industry. Advantages of having office in Cyprus • Lowest corporate tax regime in the European Union.. • No withholding tax on dividend, interest, and royalties paid to non-residents. There is no capital gains tax, barring immovable property. • There are in Cyprus.
• Advanced telecommunication facilities • Enables companies to have access to clients in EU member countries. • About 35% to 40% cheaper than Western Europe. Registration requirements • Binary brokers are. • The minimum paid-up capital required for a binary broker depends on the nature of services provided and the risk profile. The final decision on the capital requirements is decided on a case by case basis.
In general, a binary broker dealing on own account. If the broker is safeguarding clients’ funds, then a capital ranging from €125,000 to €200,000 is required. Finally, a broker who does not safeguard clients’ funds must maintain a capital of about €80,000.
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• Trend History indicator should be green. • place your long position as soon as above conditions are met. Forex trend of the main.
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• Licensing fee ranges from €4,000 to €10,000. It takes around 5–6 months to complete the formalities. • There should be at least in the Board of Directors of the binary brokerage firm.
Additionally, the majority of members should be Cyprus residents. Compliance requirements • A binary broker should act in a. All details pertaining to an option contract (nature of the asset, the actual exchange in which the asset is traded, trade timings, etc.) should be provided before a trade is made by a client. • Continuous price feed of the underlying asset should be provided in a prominent manner in the trading area. The binary broker should also provide necessary explanations of technical jargon through pop-up message or in any other easily understandable format. • A binary broker should explain the (for example, Bid + Ask / 2).
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All the formulas relevant to the calculation of strike/expiry price should be provided. If the price feed is not available for any particular asset, then the last quoted price along with trading volume should be provided. • A broker is responsible for granting clear access to the. If a binary broker uses more than one price feed, then a clarification of the exact selection of data should be provided. • In case a binary broker applies rounding of price data at the time of expiry of an option, then a detailed explanation of the rule applied should be provided. • Detailed records of bid/ask price and last traded price at the expiry of the option should be maintained.