24option is Latest Broker to Get CySEC License
24option is the most recent Binary Options broker to receive a CySEC license. Many European based Binary Options brokers are based in Cyprus. In 2012 the Cyprus Securities and Exchange Commission announced based on a European level review, that Binary Options are considered a financial instrument that requires Binary Options brokers to a apply for a Cyprus Investment Firm (CIF) license.
Brokers were given 6 months to apply for the CIF license with the process of receiving the license taking up to several more months. The CySEC license provides jurisdiction over EU member countries, of which Cyprus is a part of. The regulation adds a level of security over customer accounts and helps to ensure that brokers operate fairly.
Over the last year several brokers announced they they had received the CySEC regulation including Banc De Binary and Cedar Finance. 24option is one of the largest and most popular brokers to receive the CySEC license. In the coming months many more brokers with undoubtedly be making similar announcements. For a full list of CySEC regulated Binary Brokers Click Here.
Please read our updated 24option review for more information.