[NEW FEATURE] Live Signals on CT 2.0 I want to take a look now! Close
Open
Results 1 to 10 of 10
  1. #1
    poe
    poe is offline
    Senior Member poe's Avatar

    ALERT ! Enhancing the Regulatory Obligations of CIFs when providing binary options! !!!

    How do u guys think Brokers will respond to this ?

    The Cyprus Securities and Exchange Commission (“CySEC”) has today published a consultation paper regarding its proposed reforms to the regulatory framework governing the provision of investment services in binary options by firms under its supervision (“Cyprus Investment Firms” or “CIFs”).

    Summary proposals:

    - Removing opaque strike pricing
    - Quoting potential outcomes real-time: in order to enhance pre-trade transparency
    - Lifting restrictions on exiting trades
    - Banning sub-5 minute tenor trades
    - Standardising trading and settlement methodologies

    The consultation period will run until 3rd March 2017 after which the Board of CySEC will issue a Circular on any definitive changes to the regulatory framework.

    Read the announcement H E R E

    LET THE DISCUSSION BEGGIN ! please share what your thoughts are, how u think brokers will react etc
    "He who makes a BEAST of himself, gets rid the pain of being a MAN" S.J

  2. #2
    Moderator Kolyo's Avatar
    Hi Poe. That's a good news and I am not surprised of this development by CySEC! We have to wait and see if these rules will be accepted as a general policy or not. I think all of them are good things, maybe some traders may not agree that short term trades should be banned. I also think they shouldn't because everyone have to be able to express their style of trading and there are some scalpers out there that are successful. Banning 60 sec will affect them. I know most newbie use them for gambling but this is not enough to ban them fully. All other measures will increase transparency and will allow fair pricing and more robust trading, especially if early closing of open trades is by default allowed. For me the most important thing is to stop once and for all the unfair practice to treat successful traders differently, to ensure they will have worse pricing and will eventually lose their edge. This is the biggest problem and I hope it will be solved soon.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  3. #3
    poe
    poe is offline
    Senior Member poe's Avatar
    Yes indeed Kolyo I think they are great news for the community, 2 big concerns now come to my head:

    - Some Binary Brokers are not even regulated, so whats gonna happen with them ? Are they gonna stick to this rules or they gonna play by their own's ?

    - CySec isn't the only Commission ( yet the biggest thats true ) that regulates brokers, countries like Italy, Germany, England and so on have their own Regulations body, Are all these commissions gonna apply the same rules to all brokers ? Cuz I can easily see brokers like 24O which have both CySec and Germany's just keeping Germany's and fu*k the world !
    "He who makes a BEAST of himself, gets rid the pain of being a MAN" S.J

  4. #4
    Legendry Member Michael Hodges's Avatar
    This has been a long time coming.
    "Great Googely Moogely" ... Frank Zappa

  5. #5
    poe
    poe is offline
    Senior Member poe's Avatar
    Quote Originally Posted by Michael Hodges View Post
    This has been a long time coming.
    On March the 3rd we will see how legit CySec and brokers regulated are.
    "He who makes a BEAST of himself, gets rid the pain of being a MAN" S.J

  6. #6
    Legendry Member milos's Avatar
    Quote Originally Posted by poe View Post
    How do u guys think Brokers will respond to this ?

    The Cyprus Securities and Exchange Commission (“CySEC”) has today published a consultation paper regarding its proposed reforms to the regulatory framework governing the provision of investment services in binary options by firms under its supervision (“Cyprus Investment Firms” or “CIFs”).

    Summary proposals:

    - Removing opaque strike pricing
    - Quoting potential outcomes real-time: in order to enhance pre-trade transparency
    - Lifting restrictions on exiting trades
    - Banning sub-5 minute tenor trades
    - Standardising trading and settlement methodologies

    The consultation period will run until 3rd March 2017 after which the Board of CySEC will issue a Circular on any definitive changes to the regulatory framework.

    Read the announcement H E R E

    LET THE DISCUSSION BEGGIN ! please share what your thoughts are, how u think brokers will react etc
    Thanks Poe for sharing this information. I know that many brokers manipulated by strike price ans expiry price. I hope so also that 30.60.120s will be banned to trade in the future. Its pure gambling so binary in this form so called gambling or betting.

  7. #7
    poe
    poe is offline
    Senior Member poe's Avatar
    Quote Originally Posted by milos View Post
    Thanks Poe for sharing this information. I know that many brokers manipulated by strike price ans expiry price. I hope so also that 30.60.120s will be banned to trade in the future. Its pure gambling so binary in this form so called gambling or betting.
    Thing is there are many countries that still consider BO as a way of gambling, like casino roulette blackjack or just sport gambling! Hope this regulation can change the mind of some overtime
    "He who makes a BEAST of himself, gets rid the pain of being a MAN" S.J

  8. #8
    Administrator Martin Kay's Avatar
    Quote Originally Posted by poe View Post
    Yes indeed Kolyo I think they are great news for the community, 2 big concerns now come to my head:

    - Some Binary Brokers are not even regulated, so whats gonna happen with them ? Are they gonna stick to this rules or they gonna play by their own's ?

    - CySec isn't the only Commission ( yet the biggest thats true ) that regulates brokers, countries like Italy, Germany, England and so on have their own Regulations body, Are all these commissions gonna apply the same rules to all brokers ? Cuz I can easily see brokers like 24O which have both CySec and Germany's just keeping Germany's and fu*k the world !
    1- A non-regualted broker will continue operate the same way. That's why it's unregulated (: It will be the users' decision whether to trade with a non-regulated broker or a yes regulated and trusted broker.

    2- am not sure exactly how it works, but a local regulator can enforce local regulations and provide a trusted stamp in their jurisdiction. CySEC is a EU based regulator, meaning it's regulations apply to all EU states. Yet a local regulator could require the broker to do this or that if the broker wants to be acknowledged in this country. Also please note that not all local agencies have specific rules for binary trading. Some do not regulate BO at all, meaning the specific product has no trusted stamp in a country that doesn't regulate binary.

    Overall it's a pretty complexed world (:
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  9. #9
    Administrator Martin Kay's Avatar
    Quote Originally Posted by poe View Post
    Thing is there are many countries that still consider BO as a way of gambling, like casino roulette blackjack or just sport gambling! Hope this regulation can change the mind of some overtime
    That is right on point. Some countries consider BO as gambling, hence 30-60-190 sec options are just as gambling as 1 hour trading.
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  10. #10
    Moderator Kolyo's Avatar
    Yes, all those measures if accepted will affect only regulated by CySEC brokers. All unregulated will remain unregulated and will do whatever they want because there is no clear rules or laws how to regulate unregulated shady broker. Basically in my view everything will go down to two things - 1- more traders will move to regulated brokers and second - regulated brokers will become better regulated and closer to forex trading where still exist some problems but in general it is much more robust and safe regulation. We care most of transparency and safety of funds, everything else will improve over time due to big concurrency among the brokers.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3