CySEC issued a warning today to investors and traders concerning binary options firm Binary Floor. CySEC stated that is not regulated in Cyprus. On its website, BinaryFloor states that it is owned and operated by S.C. Binary Floor Online Ltd, Cyprus.
The complete CySEC warning reads as follows, and can also be seen here.
WARNING
The Cyprus Securities and Exchange Commission (‘the Commission’) wishes to inform the investors that ‘S.C. BINARY FLOOR ONLINE LTD’ (www.binaryfloor.com):
1. Is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:
i. It has never been authorized by the Commission.
ii. Ιt is not a bank or a cooperative firm or a company, established in the Republic and authorised to provide such services.
iii. No notification has been received by a competent authority of another Member State, pursuant to sections 77 and 80 of the above mentioned Law.
2. Is not regulated by the Commission.
The Commission urges investors, before conducting business with providers of investment services, to consult its Web Site to confirm that the entities are duly authorised to provide investment services in the Republic.
Nicosia, September 12, 2014