CySEC puts out warning on binary broker

CySEC issued a warning today to investors and traders concerning binary firm, on its website the firm states LBinary a brand of Chelestra Limited, Secretary’s lane 5, Gibraltar… In English, the warning reads as follows:

The Cyprus Securities and Exchange Commission (‘the Commission’) wishes to inform the investors that the company ‘Chelestra Ltd’ (

1. Is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:
i. It has never been authorized by the Commission.
ii. Ιt is not a bank or a cooperative firm, established in the Republic and authorized to provide such  services.
iii. No notification has been received by a competent authority of another Member State, pursuant to sections 77 and 80 of the above mentioned Law.

2. Is not regulated by the Commission.
The Commission urges investors, before conducting business with Investment Institutions, to consult its Web Site to confirm the entities that are authorized to provide investment services in the Republic.

Read Also: