Date:Sat Nov 16 2024Tokyo:13:06Sydney:15:06New York:23:06London:4:06CET:5:06
BinaryOptions.net Forums› General
BINARY OPTIONS CYSEC PROPOSES MAJOR CHANGES 2017
paul_andrew
Posts: 1 ✭
Posts: 1 ✭
in General
Hi Everyone,
Binary options trading, the way we know it so far, is about to change in 2017. The evidence of this lies in the documents that were published at 13 February 2017 from the "The Cyprus Securities and Exchange Commission" (CYSEC), which is the largest most important regulator in the binary options industry.
It clearly states all the radical changes that must be implemented immediately, in the way that (digital) binary options have been traded until now.
The reason for this action from CYSEC is the increasing number of traders in the industry and thus the increasing number of complaints being filed against binary brokers, for all sorts of disputes such us, money withdrawal issues, market price manipulation, and unethical and illegal sales and marketing techniques from the brokers on behalf of the clients.
Already some well known brokers have excluded binary options from the platforms offering only cfds and Forex trading, whereas they started out solely as binary options brokers. Some binary options brokers have recently introduced forex on their platforms getting prepared on how to continue their existancxe in the indusrty if they have to stop binary options. Other brokers who will not be willing to make the reforms will move to different countries under different provision and laws, such as Malta.
Those who are currently trading binary options should carefully read this in order to understand the legal framework around it and the future of the industry. If you want a summary of the main proposed changes have a look at appendix 2 in the bottom of the article. See attached file.
Let me know your thoughts and overview on the issue.
cheers
Binary options trading, the way we know it so far, is about to change in 2017. The evidence of this lies in the documents that were published at 13 February 2017 from the "The Cyprus Securities and Exchange Commission" (CYSEC), which is the largest most important regulator in the binary options industry.
It clearly states all the radical changes that must be implemented immediately, in the way that (digital) binary options have been traded until now.
The reason for this action from CYSEC is the increasing number of traders in the industry and thus the increasing number of complaints being filed against binary brokers, for all sorts of disputes such us, money withdrawal issues, market price manipulation, and unethical and illegal sales and marketing techniques from the brokers on behalf of the clients.
Already some well known brokers have excluded binary options from the platforms offering only cfds and Forex trading, whereas they started out solely as binary options brokers. Some binary options brokers have recently introduced forex on their platforms getting prepared on how to continue their existancxe in the indusrty if they have to stop binary options. Other brokers who will not be willing to make the reforms will move to different countries under different provision and laws, such as Malta.
Those who are currently trading binary options should carefully read this in order to understand the legal framework around it and the future of the industry. If you want a summary of the main proposed changes have a look at appendix 2 in the bottom of the article. See attached file.
Let me know your thoughts and overview on the issue.
cheers
Comments
http://forum.binaryoptions.net/discussion/comment/20419#Comment_20419
The changes you mention are not final yet and pretty sure some things will not be put in to action...
Cysec must do something under pressure from European regulators.
I think it is a good thing Cysec is on the ball now, will take out some licensed crooks and will only benefit the traders