Banc de Binary Stakes Out Headquarters in Cyprus

BinaryOptionsNow | Published on January 25, 2013 at 4:51 pm

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BinaryOptionsNow – After becoming licensed by the Cyprus Securities and Exchange Commission, renowned binary options broker Banc de Binary announced the expansion of its office in Limassol, Cyprus. This will also be followed by a multi-million Euro investment the company will make in the country.

Banc de Binary CEO Oren Laurent explained that the new Cyprus office will enable the company to better target European and Middle Eastern markets because its geographic location is precisely at the border between these two continents. Banc de Binary also explained that it will create approximately 130 new jobs in Cyprus and generate substantial tax revenues for the state.

Banc de Binary Receives Cyprus License

Just recently, Banc de Binary became the first binary options broker to receive a trading license from the Cyprus Securities and Exchange Commission. In order to become licensed, the company had to prove regulators that it only offers completely safe and secure trading solutions.

The license attests that Banc de Binary does not conduct any illegal and fraudulent activities. Likewise, the new license shows that the company invests a great deal in customer safety and security. All monetary transactions going to or coming from the broker are executed though highly secured channels and systems.

Cyprus is a member of the European Union and as such its legislation has to be in conformity with European Union guidelines and rules. This is also the case in regards to the country’s online trading laws and regulations.

In order words, the new binary options trading license awarded to Banc de Binary by CySEC follows all the rules and regulations of the European Union. Basically, Banc de Binary became one of the first options brokers to own a valid European Union trading license.

The new license will now add a layer of extra security and transparency to the services offered by the company. Unlike many other brokers on the market, Banc de Binary is now obliged to follow clearly defined and strict guidelines and trader protection measures.

About CySEC

The Cyprus Securities and Exchange Commission was created by the government of Cyprus in order to supervise the operations conducted by financial service providers. As explained above, since Cyprus is a full member of the European Union, the country’s online trading regulations have to be in conformity with EU law.

The first binary options company to receive a CySEC license was SpotOption in May 2012. However SpotOption is a technology provider and not a broker and as such it received a so-called market maker license.

SpotOption – which is Banc de Binary’s technology and platform provider – has been licensed to offer options trading technology solutions to third party binary options brokers. In order to receive this license, SpotOption had to prove that its technology and platform is glitch-free, allows for fair trading and respects all norms of safety and security.

This essentially means that everything related to Banc de Binary, including its operations, services and platforms employed are licensed and regulated by a reputable European Union organization. In short, at this moment Banc de Binary is probably the safest binary options broker around.

 

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