The leader in binary options trading receives license from CySec and becomes the first ever regulated company of its type in the world.
Banc De Binary, the world’s fastest-growing online binary options trading brokerage, is launching in Cyprus with a brand-new office in Limassol. The Cyprus office will serve as the company’s European and Middle-Eastern headquarters and represents a multi-million euro investment in the island.
Established in 2008 in the United States, Banc De Binary is the only EU-licenced binary options brokerage in the world, and was the first company in this booming industry to meet the strict regulatory requirements of the Cyprus Securities and Exchange Commission (CySEC). The license offers an additional layer of transparency, accountability and security to Banc De Binary clients, whose accounts are now fully-protected by the Investor Compensation Fund in accordance with CySEC's regulations.
Banc De Binary founder and CEO Oren Laurent, said of the move: “Cyprus’s geographic location, excellent infrastructure and high-calibre labour pool made the island our first and only choice for our European and Middle Eastern headquarters”.
The binary options industry is expected to create 1,200 new jobs in Cyprus, with Banc De Binary set to take on more than 120 people in 2013. This, along with significant corporate tax contributions on projected annual earnings of well over 100 million euros, makes Banc De Binary a very welcome addition to the Cyprus business landscape during these challenging economic times.
What are Binary Options?
Binary options - also known as Fixed Return Options (FROs) - differ from traditional investments in that investors are only required to correctly predict the direction of an asset movement in order to complete a successful trade. With binary options there are generally only two possible outcomes. “Up” or “Down”.
The binary options industry in Cyprus is valued at 500 million euro per year and is set to challenge online Forex trading in the coming years.