In virtually hundreds of binary options websites out there, IQOption continues to make a name, especially for the newbie binary options traders. This company is owned by the IQ Option Europe Ltd. It is advisable to look at check this available if you wanted to check out this trading platform.
Legit Binary Options Broker
Legit ones in binary options trading are the brokers that give back the expected amount of returns you are supposed to gain after making the right investment decision. When it comes to money- matters, one needs to be extra careful and avoid scams where brokers run away with your money. For a more safe and regulated binary options trading, look for regulated brokers. Of course, non-regulated ones do not necessarily means they are a scam.
Importance of Regulator
As part of your money’s protection, you should not just look at the company’s face value. Also, look at existing documents that prove that the company complied with the country’s necessary legal requirements. There are also internationally financial standards that a trading company must adhere to. If there are issues and problems that arise when you traded with regulated ones, you can report it to the regulatory body.
Cyprus Securities and Exchange Commission (CySEC)
As the name implies, it is the government agency in Cyprus that regulates financial services. Because Cyprus is an EU member, the CySEC complies with the MiFID financial harmonization law. In 2012, CySEC declared binary option as a financial instrument. With this, CySEC is the first regulator that identified binary option as a financial instrument. As of now, CySEC is the most prestigious regulatory board for binary options brokers.
CySEC-Regulated IQOption and Implication
For IQOption to be able to legally operate in Eurozone and to be trusted worldwide, it was registered at CySEC last July 30, 2014, with registration number 327751. Through this registration number, one can check whether the license is still working. If IQOption is regulated under CySEC, it means it is subject to tougher fines, suspensions, and license cancellation if complaints have been reported.