Exclusive: Banc De Binary Preparing to Eliminate All Bonus Promotions

Bank De Binary, one of the biggest binary options brokerages in the industry, intends to abolish all bonus practices, sources have shared with Finance Magnates. The company is set to dramatically overhaul its business model in order to have a favorable relationship with European regulators.

the binary options industry has been intensely scrutinized and reprimanded by financial regulators

The move is an important milestone, since it could change the direction of the whole regulated binary options industry. The Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) and the European Securities Markets Authority (ESMA) have recently ramped up their pressure on the industry, with some countries in the EU like France, Belgium and the Netherlands recently starting a crusade against regulated binary options and Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs trading.

The news comes at a time when the binary options industry is being intensely scrutinized and reprimanded by financial regulators and governments all over the globe. News about brokerages soliciting clients from jurisdictions that are outside of their reach have been damaging the regulated part of the industry.

Banc De Binary is taking a bold initiative by making this move and pushing back against regulatory backlash over bonus promotions.

CySEC has been actively monitoring binary options brokers in recent months and a number of companies have laid off staff and have cut back operations. The consolidation of the binary options industry may accelerate if some brokers focus on compliance quicker than others.