OptionFair brings to six the number of licensed binary options brokers in Cyprus.
LeapRate has learned that binary option broker OptionFair has just received its CySEC CIF license, making it the sixth binary options broker to successfully get through CySEC. The license was actually granted to OptionFair’s parent company, B.O. Tradefinancials Ltd., which is also the parent of binary options platform provider TechFinancials. Not surprisingly, OptionFair runs on the TechFinancials platform.
TechFinancials is actually not the first binary options platform provider to itself receive a CySEC CIF license. That distinction goes to industry leader SpotOption, which often acts as a ‘binary market maker’ for its broker clients. SpotOption received its CIF license back in May of last year.
The other five Cyprus binary brokers which have received CySEC licensing include:
| Binary Options Broker | Platform Provider | |
| Cedar Finance | Tradologic | |
| Banc de Binary | SpotOption | |
| OptionWeb | SpotOption | |
| 24Option | TechFinancials | |
| ZoneOptions | TechFinancials |
Many (if not most) of the non-Japanese binary options brokers are based in Cyprus, and are scrambling to receive CySEC licensing after CySEC decided to regulate binary options. Although that decision was taken more than a year ago, CySEC has decided not to shut down unregulated brokers, as long as they begin the regulation process in a timely fashion.
For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.