CySec – Cyprus binary options regulatory body in Europe, is very widely used by many brokers due to the liberal access formula of the European Union. But this formula is becoming fiercer so that binary options traders are more and more secure.
The last changes are quite unexpected and categorical, therefore may cause problems for some brokers to their implementation. In a letter to the binary options brokers CySec proposed a greater transparency and fair practices to customers. It is proposed among other things to identify assets by giving information about the bid and ask and methodology used to determine the expiry price.
In addition, the Cypriot regulatory authority requires that the broker gives the client the option to cancel any transaction in no less time than 5 seconds after its execution. Such decision may be hurt for short-term binary options. Similarly, severe regulation can be declarative, that the options 30 and 60 seconds is not an investment service which may imply the need for additional regulation. Similar hurt may cause new regulation that 30 and 60 seconds options are noy under the law regarding investing services which may imply the need for additional regulation.
Soon we will see how severe are new regulations for binary options brokers.
