CySEC stands for Cyprus Securities and Exchange Commission (official website http://cysec.gov.cy). This is the regulatory commission for Cyprus, a country in the European Union. It is the biggest regulator for binary options thanks to the simplicity of getting involved and the security that people feel thanks to the CySEC complains form. When trading, you can use their list of regulated and licensed brokers to avoid financial loss or other problems connected to unlicensed, untrustworthy brokers. You can find a list of CySEC regulated binary options brokers easily. Same applies to CySEC forex brokers. Many of them are top binary options brokers on the market. Usually CySEC binary options brokers have a large amount of positive reviews and customer experiences behind their shoulders. Read more to find out the truth behind CySEC regulated binary options brokers.
Why is Binary Options Regulation Important?
CySEC Regulated Binary Options Brokers should have a license before they get into trading. If they do not have one, it is unlikely that you can trust them, although many brokers are unregulated to serve US clients. Unregulated binary options brokers do not have anything backing them up nor are they authorized by anyone, which means that there is little you can do if they choose to lie, cheat, or steal. Of course, brokers like this typically have a bad image and reputation. To avoid being connected with these types of brokers, most will become licensed. A CySEC license is one of the most popular options amongst brokers. Some of the biggest in the world have chosen Cyprus for their license.
Why CySEC regulation is so popular?
The reason that a CySEC license is so popular is the simplicity and the effectiveness. It is not as strict, but it still allows complete trading once licensed. Brokers trying to get into trading can make use of the easier process to start trading without having to meet the EU’s standards. For new brokers that find it nearly impossible to meet these standards, this is an easy way in that will help them to get started. This in no way means that the brokers are untrustworthy, though. Some of the biggest brokers have chosen Cyprus and there is also the CySEC complains form if there is a problem.
Unlike binary options brokers, you may encounter a different set of regulators covering forex trading. While most of the regulated binaries brokers are covered in Europe by the CySEC license, many forex brokers obtain this license too. However, next to the CySEC regulation, many forex brokers go for an FCA and ASIC licenses, however this is not a common prat ice with the regulated binary options brokers.
Who are top CySEC Regulated Binary Options Brokers?
To get an idea of what is available, you can look at all CySEC regulated brokers. Again, many are top in their field and licensed through Cyprus. You have relaxed standards as well as a larger selection of brokers. 24Option and TopOption are just a few of the regulated brokers that received their license from CySEC. If you want similar quality and trust, make sure to look through the entire list of regulated brokers before choosing someone. Only choose a broker that is licensed and trusted, don’t let yourself fall for binary options scams.