CySEC or Cyprus Securities and Exchange Commission is the agency which regulates the finances of Cyprus. From 2004 onwards, CySEC has become a member of both European Union and European MiFD regulation. Through this, all the firms in Cyprus will be able to trade with the rest of the world. Many of the foreign firms working in this country have taken advantage of the situation.
CySEC Regulated Binary Options Brokers
There are plenty of CySEC regulated binary brokers. If you are an EU resident I highly recommend choosing an EU regulated broker as you trust their reputation due to the strict nature of receiving the license. To receive the license the company must comply with:
- Full legal documentation of company registration
- No criminal records of all directors and shareholders
- 2 year business plan
- Group structure information
- Organizational structure information
- Full procedures for all activities and operations
- Proper staffing of the company
- Sufficient financial resources
- Full financial statements for last three year
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Advantages of CySEC Licensed Broker
- Security of funds ( all funds are held in segregated accounts)
- Investor Compensation Funds (all deposits insured up to 20,000 Euros)
- Privacy and Security of Client data
- Transparent trading
- Guarantee for traders that the company is upstanding and meets specific requirements that make it a safe choice to invest your money
- Meeting the requirements of CySEC are very difficult and only the most credible and reliable brokers have this certification
- No hidden fees
This organization came into being in the year 2001. From then onwards, it is helping the traders and making things a lot easier than it was ever before. From the name of the company it has become quite clear that CySEC is the option which will keep tab on the financial situation of the country. This organization is being managed by a five member board. This board has posts such as, chairman, vice-chairman and other employees. The main aim of this board is to take care of the monetary problem and situation in Cyprus.
Along with the above mentioned information, there are other points and factors regarding this organization as well. You need to know about them. This information will make your life easy, fun, simple and allow you to start your business in this country. Now, you will be informed about the responsibilities of CySEC.
Thing that you need to know are:
- This organization keeps an eye upon the functions and movements of Cyprus Stock Exchange. It also controls the movement of the said market. The transactions, name and information about the listed companies, brokerage firms and professionals are some other things that CySEC regulates.
- Apart from the stock market, this organization also keeps an eye and controls some of the companies and schemes like, Licensed Investment Service Companies, Mutual Fund Management Companies and Collective Investment Schemes and many more. This way, you can trade with or through any of these companies without any worries.
- CySEC also gives license to the investment firms. So, if you are looking forward to open an investment firm in Cyprus, you need to apply for the license with this organization.
- This organization can also punish the brokers and brokerage firms and any person or company that comes under the purview of Stock Market legislation.