24Option Moves Towards Regulation

BinaryOptionsNow | Published on September 3, 2013 at 12:22 pm

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BinaryOptionsNow – Renowned binary options broker 24Option revealed that it finally managed to become regulated in Cyprus by the Cyprus Securities and Exchanges Commission. This is the first valid license the company has attained. 24Option is also expected to become licensed in Italy as well sometimes in the future.

24Option Becomes Regulated in Europe

The Cyprus Securities and exchanges Commission (CySEC) officially awarded a binary options trading license to 24Option. This license will legally allow the broker to offer binary options trading services in the country as well as in Europe.

In order to become licensed in Cyprus the broker had to convince regulators that all its services are safe and fair. Even though that the broker is only licensed in Cyprus, traders living elsewhere may also rest assured that they are being offered safe and fair services. The Cypriot license covers all traders registered at the broker.

At this moment 24Option accepts the registration of traders from most countries except the United States. The broker withdrew from the US binary options trading market about two months ago due to the uncertain legal situation of binary options in the country.

Likewise, not so long ago CySEC announced that it would only license financial service providers that do not accept the registration of US traders. At that time 24Optionw as already applying for a Cyprus license meaning that this was also a reason for the company to leave the US.

About 24Option

24Option is at this moment one of the largest binary options brokers available on the market. The broker managed to conquer the market due to its uniqueness in style and design but most importantly due to the high quality of the services services offered.

At this moment the broker offers binary options trading services involving all options types such as high/low, one-touch, boundary and 60 seconds (called short term). The company also offers competitive payout rates ranging from around 65% to as high as 90% in some cases.

Newly registering traders will also have the possibility to receive a 100% deposit bonus on their first deposit. Trading is also possible using an advanced mobile app that is available on both Android as well as iOS devices.

About Binary Options Regulation and CySEC

Due to the rising popularity of binary options, some countries have recently decided to officially legalize and regulate this form of online trading. Cyprus was one of the first countries to recognize the potential of binary options and began through the Cyprus Securities and Exchanges Commission (CySEC) to regulate this practice.

The current licenses issued by CySEC are in conformity with general European Union financial trading regulations and laws, meaning that at this moment Cyprus licenses are most reliable ones available.

Other countries are also expected to follow suit. Malta announced earlier the year that it would also implement laws that would regulate binary options and allow relevant government agencies to offer licenses to interested brokers.

Italy is also a country that is very likely to further develop its financial trading regulations. Recently the Italian government blacklisted a number of binary options brokers on grounds that they operated illegally in the country. However, some brokers were not added onto that list because they expressed their interest in applying for a license. 24Option is one of these brokers.

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