Compensation for customers mis Broker

grid-725268_960_720A lot is going on the island of Cyprus. After the competent Supervisory Authority Cyprus Securities and Exchange Commission (CySEC) has already attracted in the past, the reins in the regulation of brokers for binary options, now available financial refunds for damaged customers from unscrupulous financial service focus.

In a press release the CySEC pointed to the Cypriot financial ombudsman, who is authorized to proceed to any such compensation. These ombudsman, the corresponding request should be addressed, for example, if someone is a Broker withholds his money or the provider has had to go bankrupt.

Money laundering and terrorist financing declared war

Stricter rules apply to the Mediterranean island in the future in relation to the prevention of money laundering and terrorist financing. Investment companies are registered in Cyprus are required to pass information to the CySEC now in this regard.

Picture above: The Cypriot financial market supervision accelerates the process for licensing domestic broker. Source: CySEC As part of the National Risk Assessment program (NRA program) wants to identify, evaluate and understand in order to prevent more efficiently these practices better. The NRA program to be completed by the end of 2016th.

Fast lane with the licensing of brokers

A positive message for all Neo-Broker is the announcement of a reduction of burdensome bureaucracy to the regulatory authority. The CySEC aims to Online Scam create a fast track for the issuing of licenses and thus reducing the waiting time for applicants.

Accessible is this accelerated process for all brokers who have previously submitted a Request for Konzessionszuerkennung and are awaiting examination.

The faster flow of licensing is after the application has been introduced like this:

Authority: Preliminary study of the request, checking the listed information and request any missing data or of explanatory notes (three to five days).

Applicant: time to meet the requirement for and the necessary information or documents follow by mail (two weeks).

Authority: Second and final evaluation based on all of introduced information last request missing information provided (two weeks).

Applicant: meet deadline to meet the requirements of the second additional claim (one week).

Authority: Final review of the request and memo to the Licensing Commission of the CySEC, information to the applicant of granting the license or rejecting the application.

No time limit when Banc De Binary Demo Account

It is also gratifying that Banc de Binary has abolished the time limit for their demo account. While it was only 24 hours available, so you can now even later beside his real live account earn more practice and does not have to risk his own capital. The demo account of Banc de Binary is thus suitable not only for beginners who want to learn to onlinescam trade in binary options only but also for veterans who want to start test runs at new trading instruments or strategies here. In any case, the practice of demo trade harms no way to then have the more know-how in its real investments and be able to place successful options.