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This does not necessarily have to mean that your broker will rob you at the first possible opportunity. It might though. CySEC is mainly going to make big changes in the registration and regulatory processes of all registered subjects. Changes include greater transparency concerning payments, tougher fines, suspension of brokers and revocation of their licenses.
Indeed, some changes had occurred a few months ago, CySEC began to tighten the rules for binary options brokers; more about it here. I've wanted to build a business of some kind and earn money since I was in middle school. I wasn't very successful though until my senior year in highschool, when I finally started to think about doing online business.
Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author. I have received the email below from a company calling itself Cysec. I can assure you on authority that cysec has successfully recovered all your investment and all we need to do know is for you to pass few verification steps and then the money would be sent to any bank account you may provide us.
We need you to send a photo of either your passport or drivers license for verification. Best regards. Myeni, it looks just like another scammy email, I suggest you do not reply to this email. Hello, thank you for sharing this message. If there would be any problem I guess that they would contact you via letters or something like that.
It seems really weird to me. Is this right? Please help me. I never heard about something similar. Were you able to withdraw your money yet, or not? Let us know, thank you. Like you want to pay an account manager to pay your fees? Let me know, so I can help you. I would like to know if you have been contacted by Cyprus Sec Commission.
This is in regards of settlements if RTG tradings. Be careful of scam! Name required. Email will not be published required. Save my name, email, and website in this browser for the next time I comment. What is CySEC responsible for?
To supervise and control the operation of the Cyprus Stock Exchange and the transactions carried out in the Stock Exchange, its listed companies, brokers and brokerage firms. Supervise and control licensed companies offering investment services, mutual funds, investment advisors and mutual funds management companies. Further, it grants operating licenses to investment firms, including investment consultants, brokerage firms and brokers for trading binary options.
To impose administrative sanctions and disciplinary penalties to brokers, brokerage firms, investment consultants as well as to in any other legal or natural person whom fall under the provisions of the Stock Market legislation. What is the regulatory authority going to do next? In the past year several of the top brokers have completed the application process and have received their CySEC regulation. Other recommended brokers that have since acquired the license include the following:.
Please visit TradeOpus regularly as we are constantly updating our Recomended Broker information. You can also subscribe to our newsletter above to receive broker news via email. On May 4, CySEC Cyprus Securities and Exchange Commission announced that Binary Options would be classified as financial instruments thus falling under the laws governing investment services and markets in Cyprus.
Firms have 15 days to declare their intention of applying for a license and 6 months to actually apply for the license. Firms which do not declare in writing their attention to apply within the time frame are obliged to stop offering binary option services within 30 days. The announcement then goes on to warn investors not to utilize firms providing binary option services that do not have a license as they will not be supervised by CySEC laws.