Binary options and Forex brokers continue to flock to Cyprus

CySEC issues 10 new CIF licenses during Q3, most all to binary and forex brokers.

As we’ve written before, the EU-Cyprus bailout crisis and subsequent bank account ‘haircut’ which occurred this spring has not dampened traders’ enthusiasm for engaging with Cyprus-based brokerages. And as such we continue to see a number of startup (and existing) binary options and forex brokers apply for a CySEC CIF license and use Cyprus as either their headquarters, or as a base for operations in the EU region.

Regulatory consulting firm Map S.Platis, run by Dr. Stelios Platis, reports that no less than 10 new CIF licenses were issued by CySEC during Q3, with six of those going to clients who used Map S.Platis to guide them through the regulation process. And all of those six firms were either binary options brokers or forex brokers.

So who received a CySEC CIF license during Q3? The six Map S.Platis clients were:

  • YTF Trade Limited (Retail Forex)
  • Rodeler Limited (Binary Options under the brand ZoneOptions)
  • SN Financials Ltd (Retail Forex)
  • Cbay Financials Ltd (Binary Options under the brand 24Options)
  • T.B.S.F. Best Strategy Finance Ltd (Binary Options under the brand Cedar Finance)
  • Growell Capital Limited (Retail Forex)

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.


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