Over the past year, CySEC along with other financial regulators have toughened laws governing the Forex and binary options industries. This was a response to the numerous claims of frauds in the industries by aggrieved clients, especially in the binary options industry.
We have already seen changes in the Forex industry that have limited the amount of leverage offered to clients and the eradication of trading bonuses. MiFID II also proposes a lot more changes, all of which aim to make these over-the-counter industries a bit more centralized. This latest comment by CySEC’s chair is the first we’ve seen regarding the binary options industry, and it has to be taken seriously.