As an industry of online investment, people might think how there is no regulation on binary options market, globally or locally.
However, that is not the case. As we have previously written, there are many regulatory authorities who monitor financial markets in South Africa, as well as in other parts of the world.
Main goal of regulatory bodies is to monitor businesses of binary brokers and enable traders in South Africa to have a safe and yet profitable binary options trading experience.
For that reason, we will take a closer look of the latest report announced by CySec; regulatory authority placed in Cyprus.
What is CySec?
CySec stands for Cyprus Securities and Exchange Commission.
This regulatory authority is responsible for setting the framework for binary options brokers worldwide and to protect investors who trade binary options. Goal is to ensure traders a safe trading environment and point out on scam brokers who operate on financial markets.
According to our source, CySec gave positive feedback of current situation on binary options market. There has been great improvements and implementation of additional security measurements to ensure safe trading journey to traders in South Africa and other countries worldwide.
In relation to this positive feedback, a spokesperson of Banc de Binary, a leading binary broker, said how they applaud any positive change that will contribute to better transparency. They will make sure to implement all necessary changes, required by CySec in order to strengthen financial market on which they operate.
IQ Option is also one of reliable binary brokers who are present on South African market and known for its safe proprietary trading platform.
Unfortunately, there are brokers who aren’t reliable and attract traders by offering them a lot of features and tools, however in terms of withdrawals it is evident they are a scam. Therefore, IQ Option tries hard to maintain a good reputation as a respectful binary options broker.
They will give their best into ensuring safe trading for all traders who want to join their trading platform.
Same reaction arrives from trustworthy software providers, such as TechFinancials. This provider is a popular choice for many binary brokers, present on South African financial market. They are committed to collaborate with CySec and other regulatory authorities to develop systems which support regulatory requirements.