This includes provisions for Cyprus Investment Firms CIF , who provide and perform investment services and activities either within Cyprus or abroad on a professional basis on certain financial instruments.

Finally, CySEC oversees the imposition of administrative sanctions and disciplinary penalties to brokers, brokerage firms, and investment consultants, among others. The group has been a key force in policing the forex and binary options space, which has included several legal actions and curb market abuse.

Since , CySEC has sought to take a more aggressive stance against illicit behavior, while also strengthening its handling of investor complaints against entities. CySEC is currently chaired by Demetra Kalogerou, who has held the role since The CySEC is administered by a seven-member Board, which consist of the Chairman and Vice-Chairman, each of whom provide their services on a full and exclusive employment basis, and five additional non-executive members.

Their service reflects a five-year term. The Cyprus Securities and Exchange Commission CySEC is a financial regulatory authority of Cyprus. Read this Term has just released a consultation paper regarding its proposed reforms to the regulatory framework of binary options trading under its jurisdiction.

To unlock the Asian market, register now to the iFX EXPO in Hong Kong. CySEC proposes five fundamental reforms that it says will eliminate deficiencies in the existing framework, and establish new conduct standards and measures to ensure retail investor protection. The new proposed standards regarding the Digital Options Contracts will seek to eliminate the causes of concern regarding the practice that are found commonly to be followed by those providing binary options products, ensuring firms act in an honest, fair and professional manner.

The reforms are intended to achieve 4 main goals. These are 1 to ensure that brokers act honestly, fairly and in accordance with their customers best interests 2 to ensure that adequate information about the products being offered is provided to clients 3 ensure to orders are executed in a manner favorable to clients and 4 to ensure that orders are executed and filled promptly and expeditiously. The proposed changes are as follows. These reforms all sound really great and bring to mind a couple of things.

This means that the brokers will have to change, and most of them will not be able to keep up. The second thing I think of is that the type of trading these changes describe already exists.

February 18, Reform Is On The Way Two of the biggest problems with binary options, for regulators and traders alike, is a serious lack of transparency and standardization within the industry. Remove Opaque Strike Pricing — They propose to ban the current method of floating strike prices.

The strikes will have to be listed before the trades are made, similar to ladders, and be the same for all traders. Lift Restrictions On Exiting Trades — They propose to have all restrictions on exiting trades lifted.

Home » News » CySEC tightens the rules for binary options trades. On 14th of April a very interesting thing occurred. The rules are namely new regulatory conditions , quoted prices , the sale of options and short-term options. New requirements issued by CySEC change the approach to our brokers and their clients a little.

Under these requirements, the binary brokers must provide all traders with adequate information and explanation of binary options, explain all risks included and change their approach, so that the business is fair for traders. Although this is common sense, not all brokers act according these rules. If a broker wants to continue to be regulated by the CySEC regulatory authority, they must also stop providing trading of second binary options , which I think is a very important step.

Everyone certainly knows that 30 second binary options are worse than roulette and other types of gambling. Another change that has to be implemented in binary options platforms is: fully transparent quoted prices. Thus, if the broker offers to trade with oil, they will have to inform their traders exactly what price it is. It is not enough just to say that it is the price of oil. From now on, it must be disclosed where the price is obtained from for example: TI Crude Oil Dec 15 NYMEX.

Newly CySEC has also mentioned that it expects a smooth display of current prices updated every second. The price will, therefore, have to be updated frequently so we, traders, always know where we stand. As you can read in the circular, platforms will also have to provide charts which are accurate, easily readable and understandable for the average trader. Charts on the SpotOption platform, which is probably offered by the most brokers eg. optiontrade or Banc de Binary are understandable and clear in my opinion.

Out of all the new rules, I like this the most. Every trader should now be able to sell any purchased option within few seconds after buying it — thus canceling the trade. Actually, I know that TopOption has already implemented this feature. This option comes in handy if the trader misclicks and confirms the trade of the wrong asset, or the wrong amount. What is your opinion on these changes? Unlike Stephen the other author I have been thinking mainly about online business lately.

I wasn't very successfull with dropshipping on Amazon and other ways of making money online, and I'd only earn a few hundreds of dollars in years. But then binary options caught my attention with it's simplicity. Now I'm glad it did because it really is worth it. More posts by this author. Name required. Email will not be published required. Save my name, email, and website in this browser for the next time I comment.

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New conditions for regulation New requirements issued by CySEC change the approach to our brokers and their clients a little. Information about quoted prices Another change that has to be implemented in binary options platforms is: fully transparent quoted prices. Chart clarity and awareness of the traders An excerpt from the circular.

More about the author J. Pro Unlike Stephen the other author I have been thinking mainly about online business lately. Leave a Comment Cancel Reply Comment Name required Email will not be published required Website Save my name, email, and website in this browser for the next time I comment.

Copyright © All Rights Reserved. x Binary Options. In the European Economy Area, binary and digital options are only offered and advertised to professional traders. If you are not a professional trader, you can not trade binary and digital options. General Risk Warning: The financial products offered by mentioned companies carry a high level of risk and can result in the loss of all your funds.

You should never invest money that you cannot afford to lose.

That way you know maximum profit targets and the maximum risk if your trade goes against you. Dip a toe in with some play money before using your own cash. Unlike Stephen the other author I have been thinking mainly about online business lately. C issued by the Cyprus Securities and Exchange Commission, April 14, If all you know about your broker is a web address, what are you going to do in the eventuality of a scam? The group has been a key force in policing the forex and binary options space, which has included several legal actions and curb market abuse. Strategies that youre having to supply our simulator i need.

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