Check the list of CySEC Regulated Forex Brokers of 2020. Cyprus Securities and Exchange Commission (CySEC) is one of the most famous Regulators and it's license is considered as a pretty safe one among Forex brokers' clients. CySEC issues warning about Binomo, an unregistered brokerage Share: The Cyprus Securities and Exchange Commission has released a warning about Binomo, an unregistered Forex brokerage which has been offering its services to the local population as well as the trading community of the European Union. A substantial number of retail forex and binary options brokers are regulated by the Cyprus Securities and Exchange Commission (CySEC). In fact, you will actually find more regulated forex brokers in Cyprus than any other jurisdiction. However, what precisely is CySEC? What regulations are imposed on licensed, registered brokers and how efficient is the regulatory agency? This article will ... Binomo is currently filing an appeal to CySEC’s warning. Regulators try to stay on top of potential scams. The warning from CySEC comes just one day after the Financial Conduct Authority (FCA) published a warning on its website on Tuesday against a clone of a regulated entity. Is Binomo safe and reliable? We can say that Binomo is safe because it is a regulated company with customers all over the world. It is a well-known online trading platform and has been in the market for some time now with a good international reputation. Many sites like this one have very positive reviews on Binomo’s safety and reliability. In spite of all of these advantages, we would encourage traders to exercise caution, especially as CySEC is yet to issue an operating license to this company. FMRRC does not pull a lot of weight as a reliable financial regulator and for obvious reasons, does not possess a lot of powers over the brokers it is overseeing. Besides that, the internet is littered with several complaints from Binomo ... We advise all investors and traders to avoid Binomo and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and XM.com. You can also share your trading experience with Binomo by commenting on this review.
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