Cysec Regulated Binary Options Brokers – Investor Protection

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

Contents

24option Broker Review 2020

In our 24option review, we will inform traders about all trading features and amazing solutions they can use while trading with 24option. Besides providing superior support in various languages, 24option has won many prestigious awards that are just confirming how good they are. 24option is regulated by CySEC and according to the broker, provides a high level of security for its clients. Read more about 24option in our detailed broker review.

24option Special Features

Traders are welcome to register with five different trading accounts and find most attractive features that perfectly fit their preferences. Trading accounts are carefully adjusted and we are sure traders will find an appropriate account that will satisfy their trading style. 24option has ensured 24option Demo account for trading newbies that will be able to practice before placing real trades.

Minimum deposit for 24option is $100 and the minimum investment is $24. Find out in our detailed article about 24option trading accounts here.

In the further text you can read more about 24option trading accounts and their features:

24option maximum leverage is 1:200 which is not the highest but it also is reasonable when one remembers that leverage increases losses as well as profits. The minimum spread on EURUSD starts from just 1.5 pips

It is noted that investors should not place trades with money that they do not afford to lose. Trading Binary Options involves substantial risk and may result in the loss of your invested capital.”

As we have already mentioned, 24option traders can first start using 24option Demo account. Demo is only available for registered traders and they will be contacted by 24option account manager to get most important info about Demo features. 24option Demo is excellent for beginners in the binary industry, but it is also a good starting point for all traders that have earlier experience too.

24option Demo account introduces all important trading tools and lets traders learn more about the trading platform. Beginners can simply place trades with virtual amount of money to spend.

24option Trading Software

24option has recently integrated MT4 platform which is mostly used for trading with Forex. The platform is available for download and it is available for both dektop or mobile version. This trading platform provides many novelties and if you are tired of using SpotOption platform, 24option and MT4 will give you a refreshing combination that could keep traders interested.

24option web-based platform is recently refreshed with a new in-house trading platform called Scipio. Scipio allows traders to trade with both binary options, CFDs or Forex.

We have found 24option offers more than just basic trading options which are especially great for traders with more experience.

Update*: 24options is leaving TechFinancials platform and they are developing their own. Read more about it in our news article.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

We have found 24option offers more than just basic trading options which are especially great for traders with more experience. Among classic High/Low and Touch Options, traders can find 60 seconds, Boundary and High Yield options.

If trading platform plays a big role in trader’s preferences, then 24options might be a great selection. Traders will be happy to know that 24option provides Early Close option. Besides plentiful trading options, 24option provides a variety of expiry times that give traders even more trading choices: 60 seconds, 2 min, 5 min, 15 min, 30 min, 1 hr, 24hr+, End of Month.

24option also provides a mobile version, that might be more convenient for traders that travel a lot and have less time to trade with the desktop version.

24option Support Information

We can say that 24option support service provides various languages for its clients. 24option broker allows support on more languages and clients will be happy to get support on their mother tongue. 24option serves their clients with live chat, email, contact form or phone.

There are more than 18 different phone numbers available, and we are ensured traders will find the appropriate number for support. In our 24option broker review, we have tested live chat service, which is rated as prompt and provides all important support for its clients.

Live chat is supported in various languages, so if you are not very good with English, their support agents will try to find adequate support for your language. If traders prefer more classical support service, they can send questions on [email protected]

Tip: Trade with a reputable and regulated broker such as IQ Option.

24option Banking and Company Information

24option provides diverse banking opportunities where traders can use plenty methods, depending on their preferences. 24option supports: Visa, Bank Wire, MasterCard, JCB, Diners Club, Dankort, Laser, Visa Electron, Liberty Reserve, Skrill/Moneybookers and even more. A wide amount of payment services enables easier transfers since traders don’t need to open accounts with new providers.

First withdrawal in a month is free of charge. This is a great advantage since most of the traders charge for every withdrawal. Traders are recommended to check 24option withdrawal fees that apply after the first request. Minimum withdrawal with 24option is $100 and it is important to know that traders need to verify their 24option accounts before their withdrawal will be processed.

24option will charge different fees, depending on payment method:

  • Bank wire: $30
  • Credit cards: 3,5%
  • Skrill/Moneybookers: 2%
  • Liberty Reserve: 1%

24option is serving its services from 2020 and as we have already mentioned, it is regulated by CySEC. This certificate confirms that broker follows certain rules and conditions determined by this regulatory body. One of the important things to mention is that 24option segregates their client’s accounts from a central bank account.

24option is available for trading in all countries except in USA and Australia.

Compare CySEC Regulated Brokers

For our cysec comparison, we found 8 brokers that are suitable and accept traders from Russian Federation.

We found 8 broker accounts (out of 147) that are suitable for CySEC.

XM Group

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About XM Group

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About XTB

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

75% of retail investor accounts lose money when trading CFDs with this provider.

Read our in-depth XTB review

EasyMarkets

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About EasyMarkets

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

83% of retail investor accounts lose money when trading CFDs with this provider.

Admiral Markets

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About Admiral Markets

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

83% of retail investor accounts lose money when trading CFDs with this provider

ForexTime

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About ForexTime

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXPro

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About FXPro

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

79% of retail investor accounts lose money when trading CFDs with this provider

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About UFX

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

74.3% of retail investor accounts lose money when trading CFDs with UFX.

Read our in-depth UFX review

Exness

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About Exness

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

54.3% of retail investor accounts lose money when trading CFDs with this provider

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

Why chose a CySEC regulated broker?

CySEC is there to protect all market players but emphasis is placed on consumer protection. Protection of consumers of financial products (including traders who trade forex and other financial market products) is carried out at three intervention points:

  1. CySEC runs a register which lists regulated firms as well as firms under various levels of sanction. This enables consumers to know what brokerage company to do business with BEFORE they apply their money.
  2. CySEC conducts regular supervision of brokers and usually broadcasts public warnings on its website about the activities of brokers who are not following the rules under which they are to operate as mandated by CySEC. These warnings serve to keep active traders on notice.
  3. In a few cases, CySEC has actually taken very strong punitive action against brokers and assisted in recovery of clients’ funds where this was an issue. WGM Services and Pegase Capital Ltd are two companies who were fined 340,000 Euros and 300,000 Euros respectively for failing to honour withdrawal requests of traders. However, action at this level has not been very robust and therefore traders are advised to use the previously mentioned intervention areas as better alternatives.

What is the Cyprus Securities and Exchange Commission in Regulation (CySEC)

The Cyprus Securities and Exchange Commission was formed in 2001 as a regulator of the financial markets and market participants in Cyprus. When Cyprus joined the European Union in 2004, CySEC was mandated to conform with the MiFID protocol as an EU-member state. MiFID gave regulated entities in Cyprus access to other markets all over Europe, thus putting a lot of responsibility on CySEC in ensuring these entities met the required standards.

The Role of CySEC in Online Trading

The Cyprus Securities and Exchange Commission (CySEC) is the agency tasked with the regulation of the financial markets and players in the financial markets in Cyprus. Being a major financial hub which attracts a lot of financial services companies, Cyprus plays a key role in the European financial markets.

Many forex brokers and binary option firms have taken advantage of the low tax and investor-friendly environment that Cyprus presents to open shop in the country. This has put a lot of responsibility on CySEC in terms of controlling the activities of these firms and making sure they operate within the laws and regulations.

CySEC performs several functions in its capacity as a regulator of financial markets and market participants.

CySEC functions:

  1. Licensing of investment firms (known as Cypriot Investment Firms or CIFs).
  2. Supervision of licensed and regulated companies operating in the financial markets.
  3. Regulation and supervision of the Cypriot Stock Exchange and companies operating within that market.
  4. To sanction and discipline errant market operators.

An explanation of each of these functions is provided below.

Licensing of Investment Firms

CySEC has rapidly expanded the category of companies that it regulates, especially since the recognition of binary options as a financial instrument worthy of regulation. The following categories of companies are eligible for licensing by CySEC:

  • Companies classified as Cypriot Investment Firms (CIFs), which are firms that receive and transmit trade orders for execution from clients or on behalf of clients as portfolio managers.
  • Companies and individuals operating in the stock market as brokers, financial advisers, etc.
  • Companies that issue loans.
  • Companies that issue derivative instruments, money market assets and securities.

By this definition, CySEC provides regulation for brokers and other market operators within the stock market, forex market and binary options market. Due to the influx of many of these companies into Cyprus at the turn of the century to benefit from its tax haven status, CySEC has literally had to undertake licensing of thousands of companies and entities operating in these markets.

Supervision of Regulated Entities

CySEC does not just stop at issuing of licenses to these firms. It also carries out continuous supervision, monitoring and evaluation to determine if the companies are operating under the terms by which the licenses have been issued. CySEC has had to revoke licenses of a few companies which broke the rules of operation as CIFs.
CySEC has strict rules for companies operating with its licenses. Some of these rules are as follows:

  • Members of the governing boards of licensed companies are required by law to hold certain qualifications. If for any reason there is a change in membership, CySEC must be notified and any replacements must have the requisite qualifications.
  • The names of the companies must be a reflection of the services such companies offer to the investing public, and any changes in the name or branding of a company must be visible for at least one year while the company transits from the old brand to a new one.
  • The payments of salaries and allowances of employees of such firms must not be structured in such a manner as to constitute a conflict of interest with their clients. This means that regulated firms must not pay staff based on trading volumes, percentage of net revenue and percentages based on client retention rates.
  • Licensed firms are expected to fulfill CySEC-mandated reporting requirements.
  • CIFs are required to maintain a certain minimum level of physical presence in Cyprus to continue enjoying EU-wide licensing.

There are other rules which operators with a CySEC license must fulfil. CySEC regularly monitors these firms as part of its supervisory role in the financial markets.

Sanctioning of Errant Market Operators

Where market operators licensed by CySEC run foul of the rules, CySEC takes punitive action against such operators. Many of these sanctions start from issuance of public warnings against certain brokers, financial penalties and in a few cases, outright suspension of licensing.
A criticism of CySEC in this area is that the punishments rendered by CySEC to errant operators are relatively lenient when compared to the punishments that other regulators dish out to operators who do not comply with the rules. For instance, CySEC’s most common mode of punishment is application of financial penalties which are in tens of thousands of Euros, whereas the CFTC which regulates binary options and forex in the US has been known to apply fines in millions of dollars against errant brokers.

Why Choose XM Group
For CySEC?

XM Group scored best in our review of the top brokers for cysec, which takes into account 120+ factors across eight categories. Here are some areas where XM Group scored highly in:

  • 9+ years in business
  • Offers 261+ instruments
  • A range of platform inc. MT4, MT5, Mac, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 0.10pips
  • Used by 700,000+ traders.
  • Offers demo account
  • 2 languages

XM Group offers two ways to tradeForex, CFDs. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

XM Group have a B trust score. This is largely down to them being regulated by IFSC, CySEC, and ASIC, segregating client funds, being segregating client funds, being established for over 9

Trust Score comparison

XM Group XTB EasyMarkets
Trust Score B AAA A
Established in 2009 2002 2003
Regulated by IFSC, CySEC, and ASIC Financial Conduct Authority CySEC and ASIC
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

A Comparison of XM Group vs. XTB vs. EasyMarkets

Want to see how XM Group stacks up against XTB and EasyMarkets? We’ve compared their spreads, features, and key information below.

24Option Scam Review – Fully Regulated Binary Broker (Safe & Secure)

When it comes to brokers, 24Option is a leading pillar within the industry offering several features and accommodations for fulfilling the needs of all trader experiences. Because binary option trading has grown significantly popular do to its simplified process of generating online profits, there’s no shortage of questionable brokers guilty of shady practices. However, traders can feel safe knowing that 24Option.com has continuously provided quality services to the community for over half a decade. Since its early insurrection back it 2020, 24 Option has proven itself with safety & security to their client’s funds, in combination with responsive round-the-clock customer service. Within the following 24Option review, we’ll discuss various important factors highlighting what traders will expect which makes this broker an ideal choice. If you’re just starting your trading journey, you’ve come to the right place!

24Option Review – General Overview

  • Assets – 100+
  • Minimum Deposit – $250
  • Minimum Trade – $24
  • Payout – 85%
  • Regulated – CySec
  • Platform – Tech Financials
  • Demo – Yes
  • Funding Methods – Major Debit/Credit Cards, Skrill, & more!
  • Mobile Trading – IOS & Android
  • Bonus – 100%
  • Education – Free Video Tutorials, Webinars, EBooks

24Option Scam Review

24Option.com competitively remains the next generation of Binary Option brokers and its operating company (Tech Financials) is among the founding fathers of the Binary Option Industry. Overtime they have updated & upgraded their offerings within their trading system in attempts to remain among the most superb brokers available today. 24Option broker operates on the Tech Financials trading platform which has gone through some recent re-branding to ensure traders receive top-notch quality service. It’s fairly evident why many traders favor investing with 24 Option because they offer a wide variety of features for Binary traders, but more importantly security. In efforts to prove & hold regulation compliance, 24Option.com platform sparred little time in applying for regulated license and prides itself in complying with the necessary guidelines laid out by regulatory commissions.

Is 24Option Broker Regulated?

Located in Cyprus, 24option is binary broker favored by most traders in this industry. Largely due to the fact that this broker is a proactive broker that offers many incentives to its traders on a regular basis. Formerly owned and managed by CBAY Financials, 24option today is under the management of a different holding company called Rodeler Ltd since late last year. The broker is still regulated and licensed by the Cyprus Securities Exchange Commission (CYSEC) under the license number: 207/13. When searching for a new broker, depositing with one who’s holding a regulation licenses is most recommended. Their strict regulations protect you from losses should the worst happen. 24Option.com maintains a strict amount of compliance with regards to services they provide, containing high levels of privacy & top levels of service to their clients. U.S. Trader Note: For USA-friendly brokers, click here for full list of compliant brokers servicing the United States.

24 Option Review – Trading Format

As you can see from their displayed infrastructure, its clear to understand from a clean and intuitive interface that you have various trading options. Other than the standard Call/Put, four additional methods of trading including High/Low, One Touch, One Touch, & Turbo. You’ll notice a full trading list of all available pairs that can be filtered within different categories such as Commodities, Currencies, Indices, and Stocks. On the bottom right-hand side below the asset chart are addition tabs consisting of Open Trades, Trade History, Trading Alerts, and Economic Calendar rates at your fingertips for easy access to understand upcoming market news. Very useful for traders who know how to trade when financial results are released and watch their effects on market’s movements. Everything within 24 options has been integrated together so traders can find necessary tools without leaving their current screens. Thus saving you time and avoiding distractions while trading.

The Cyprus Securities and Exchange Commission – Top Regulator in the Securities Market

Cyprus is a well-known and prominent center of Forex trading, considering that it was a tax haven before Cyprus became a member of the EU attracting many foreign Forex investors. After joining the EU, all registered firms in Cyprus gained access to the entire EU market, but the EU officials urged the reforms and changes in the market so it would be harmonized with EU legislations.
The CySEC, therefore, rushed to the task to implement all measures necessary to ensure an EU compatible environment.

What are the responsibilities of CySEC?

First of all, CySEC is in charge of monitoring the Cyprus Stock Exchange, registered brokers and companies, and the transactions taking place on the Stock Exchange. They also monitor licensed collective investment funds, registered investment service companies, companies that operate mutual funds and investment consultants. They issue licenses to the investment consultants, brokerage firms, and brokers.
Within the legal framework regarding Stock Market, they can impose administrative sanctions on and take disciplinary actions against all subjects under their supervision (the above-mentioned) as well as against every other legal or natural person that is subject to this legislation.
The CySEC, as a governmental body, is elected on the proposal of the Finance Minister and appointed by the Council of Ministers. It consists of five members with a five-year term in office. The

Commission works full-time.

Considering that the CySEC offers specific financial services, the number of CySEC registered brokers increased. Nevertheless, in the last two years, the CySEC was subject to criticism for poor regulation of high-risk investment firms. The critics complained that the imposed fines are smaller than in other EU member states.

Pioneering Idea

CySEC is the pioneer financial regulator to include binary options regulation, whereby facilitating operations of the binary options brokers to operate legally across the EU (or they can be internationally registered). Their regulation of binary options is the most popular across Europe and many companies selected CySEC as their binary options regulator.

Recent Years

The CySEC reformed and improved the market by imposing higher fees, revoking licenses, suspending brokers, and establishing a more transparent work ethics regarding CySEC registered brokers and companies.
They also deal with the lack of handling of investors’ complaints.
CySEC Forex brokers and their employees also have to fulfil the criteria regarding qualification.
Their official website features a list of fined companies including the amount of the fines.

Authorization

The CySEC’s requirements for registration are listed below. Any firm or company that would like to be issued a license has to fulfil the following criteria:
– Appropriate initial capital
– Adequate shareholders
– Adequate persons who run the business efficiently
– Appropriately qualified staff
– No close links
– Cyprus-based head offices
– Member of the Investor Compensation Fund
– Corresponding organizational procedures
The application process is relatively simple. The candidate submits all necessary information to the Commission for a review. Based on the assessment outcome, the company either gets approved or not. The Commission takes six months to make the decision.

The Main Goals

The public legal entity was established back in 2001. Since then, the CySEC faced many challenges in terms of harmonizing with the EU directives. Nevertheless, the Commission manages to keep up with the hardships.
As a previous tax haven, the goal of CySEC is to make Cyprus the major investment center again, this time for being a safe, reliable, and attractive place for investments. Therefore, CySEC works very hard to protect investors and to create a healthy securities market by supervising companies and brokers in Cyprus.
Besides issuance of licenses and supervising the Cyprus Stock Exchange operations, the body is responsible for much more.
They have the authority to request and collect information from any individual, natural and legal person, and any CySEC registered company for purposes of effective operation. They issue regulatory decisions and directives. If they have issues with certain companies they can take them to court to initiate proceedings. They cooperate with other state authorities, as well as with international supervisory agencies and authorities.
In the last years, the CySEC tightened the regulation policy on many CySEC licensed brokers. In return, the brokers have access to the entire EU market and can freely make international business arrangements, while their clients enjoy the legal protection offered by CySEC.

Strategy and International Relations

The CySEC’s Strategy and International Relations Department is in charge of strategic planning, domestic and international communication and relations, promotion of CySEC’s activities and work, educating the public on the capital market, as well as the investment securities services.
Their responsibilities also include support and assistance to the Commission’s Chairman and Vice-Chairman in activity-coordination.

The Financial Ombudsman

The CySEC gives instructions to clients, investors, and the public how to file complaints. Their announcement states that if the customers have any disputes with the CySEC registered brokers, they are welcome to submit their complaint to the financial ombudsman.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

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Binary Options Trading: Brokers Reviews
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