For a long time, binary options trading was a popular financial
tool for traders. It is one of the easiest ways for a beginner to
start trading. Such options were available in many European
countries, and Cyprus was no exception.
However, not everything is as simple as it might seem. Since
there were some diceiving brokers in Cyprus, it made people wary as
to whether brokers based in it are the right choice or not. Cyprus
is part of the European Union and, should follow the European
strict trading rules, especially in the case of binary options.
Restriction of binary options
On the 10th of July 2019, the National Competent Authority of
Cyprus regarding market security regulation, Cyprus Securities and
Exchange Commission (CySEC) decided to implement the national
measures to restrict the marketing, distribution, and sale of
Contracts for Differences (CFDs).
