UPDATE: Banc De Binary Gets CySEC License
On January 25, 2012 Banc De Binary announced that they have received a CySEC licence becoming a regulated Binary Options broker. Since Cyprus is part if the European Union, Banc De Binary is now regulated throughout the EU.
Banc De Binary will be the first Binary Options Broker to receive a license as a registered market maker in Binary Options under Cyprus Security and Exchange Commission law (CySEC). The license ensures that Banc De Binary will be regulated under Cyprus law meaning that they are accountable by law to be responsible for trader deposits as well as fair play in trading and operations. Banc De Binary has submitted their application and expects approval by the end of the month.
The SpotOption trading platform, working in conjunction with CySEC, recognized the need for regulation in the Binary Options industry and received the first Binary Options CySEC license in June of 2012. This paved the way for applying the license to the many white label brands using the SpotOption trading platform. Banc De Binary will be the first brand to secure the license, it won't be long before the rest of the Binary Options brokers follow suit. As discussed previously regulation is good for both the trader, broker as well as the industry as a whole. Its good for the trader as he then has confidence that his deposits are secure and that trading will be fair. Regulation is good for brokers and the industry as a whole as it adds a level of credibility in the minds of potential traders. It becomes a huge selling point for a type of trading that is new and relatively unknown.