OptionBit parent Novox Capital Ltd received CySEC license in early February, offenses were in late 2012.
Cyprus financial regulator CySEC handed out what amounts to a slap on the wrist to binary options broker OptionBit, a Tradologic brand, for offering binary options trading services back in 2012, before it held a CySEC CIF license.
The maximum potential penalty for the offense is €350,000, so €5,000, in both absolute and relative terms, is not really a big deal. But clearly CySEC is trying to send a message, that the time of unregulated binary brokers on the EU island is now over, and will not be tolerated.
The fine was technically given to DC Digital Processing 2 Ltd, which operated the OptionBit franchise back in 2012. OptionBit is now owned by Novox Capital Ltd, which also operates the OptionXP binary options broker brand.
Although now regulated in Cyprus, OptionBit remains on the France financial regulator AMF (Autorité des Marchés Financiers) list of unauthorized websites offering of binary options trading.
To see the CySEC press release click here (pdf, original in Greek only).