More news from the CySEC – Bonuses and minute options

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  • Binomo
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More news from the CySEC – Bonuses and minute options

In the beginning of December last year (2020) we informed you that the broker IQ Option isn’t going to offer any more bonuses. That was an unexpected change for me, but I must admit that it was a good one. More information about this change can be found here: IQ Option Isn’t Going To Give Out Any More Bonus

As I also mentioned in my last article, the change should soon affect all regulated brokers. Let’s take a look at other binary options brokers. Do you think they stopped offering bonuses as well?

Mini-test: Do brokers offer bonuses?

Although I didn’t notice that a lot of the brokers had made any changes, the opposite is true. The bonus offers disappeared from the homepages of their websites. To be sure I wrote to few customer support agents and I got the following responses:

We don’t offer bonuses anymore, because of the new regulation. (Customer support of TopOption)

Although lately I am very disappointed by the behavior of TopOption and we had to exclude this broker from our list of recommended brokers, the broker really stops offering their bonuses. Good job. What about the other brokers?

Actually the FCA banned bonus in September last year so it’s already been quite some time since we have stopped promoting bonuses. (Customer support of ETX Capital )

I didn’t know that and it is very interesting! Even other brokers, such is IQ Option and StockPair, don’t offer any bonuses. Great! It seems that the regulations are being taken seriously. �� The only broker still offering bonuses, is eXbino. It is probably because this broker is not fully regulated. The only licenses that this broker has are EG Montenegro and CySEC platform license, but not a company licence. We will see, how the situation continues.

Other changes proposed by CySEC

CySEC also came with a proposal for five other changes, which still have to pass the approval process. The process ends on March 3 this year. What changes are we talking about? Continue reading.

  1. Full ban on binary options with expiration time less than 300 seconds (5 minutes).
  2. Fixed strike price.
  3. Displaying the transaction results in real time.
  4. Obligation to provide the possibility to end any trade at any time during before its expiration time.
  5. Strictly accurate quotation of prices.

What does it mean? Let’s go through it. I guess that the ban on short-term binary options is perfectly clear, so we don’t have to lose time explaining that.

Regarding the fixed strike price, I am not 100% sure what do they mean. The most probable is, that the platforms must provide to traders strike prices which can change only once for a period of time. Some strike prices provides traders greater benefits than others. That is why they are probably valued differently. The best examples of these options are ladder options – they are my favorites but not everybody understands them.

The possibility to end the trades – fortunately this is already implemented by many brokers, for example highlow.net or IQ Option broker. Unfortunately it is still not possible to sell the option right before its expiration time and CySEC wants to change that. This possibility I saw for the first time at TopOption a long time ago, in 2020, when I started to be interested at binary options.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
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  • Binomo
    Binomo

    2nd in our ranking!

Regarding the last paragraph (Strictly accurate quotation of prices) I think it is very important. So far the brokers could quote more or less any price they wanted. But if CySEC say, that all brokers have to quote just one server, and then all brokers should have exactly the same prices at the same time. This would be great. This should be working even now, but the reality is a little different and the price always varies by a few pips.

We’ll see what happens. Anyway it is nice to see that CySEC really works.

How to sell your options at IQ Option?

The following video shows how you can sell options at IQ Option whether it’s at a profit, or loss.

More information on regulations of CySEC

  • News: Regulations in the world of binary options
  • News: No to non-regulated brokers!
  • News: The end of binary bonuses and tournaments by CySEC
  • More news from the CySEC – Bonuses and minute options
  • The Cyprus Securities and Exchange Commission (CySEC)
  • Even stockpair had to comply with CySEC’s intervention
  • Brokers fulfill CySEC requirements
  • CySEC tightens the rules for binary options trades
  • Regulations Of Binary Options Brokers
  • The entire official document regarding these changes

Author

More about the author J. Pro

Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn’t very successfull with dropshipping on Amazon and other ways of making money online, and I’d only earn a few hundreds of dollars in years. But then binary options caught my attention with it’s simplicity. Now I’m glad it did because it really is worth it. More posts by this author

News: The end of binary bonuses and tournaments by CySEC

We’ve mentioned this already a few weeks ago. CySEC wants to ban all bonuses. In fact they are talking about the same thing over and over. Cancel the bonuses, cancel the bonuses. But is seems that it is not that easy. As we’ve published in the article Pros and Cons of the bonuses, for newcomers the bonuses in the world of trading are surely very interesting and attractive. After all, it is money for free, right?

However, in reality this is not completely true. Each received bonus means the trader is committed to make a certain number of trades and unfortunately, they usually can’t withdraw the money before that.

Information of the new circular letter C194

CySEC has informed all regulated companies (not only to those focused on binary options but also forex brokers, etc.) new information regarding the bonuses and tournaments in the latest document called circular C194.

From now on, it will be prohibited to offer the customers (traders) any of the following bonuses:

  • Welcome bonus (including, for example, no deposit bonus)
  • Bonuses for meeting a certain trading volume
  • Bonuses for friend recommendation
  • Bonuses for verifying their personal information (phone numbers, addresses, etc.)
  • Bonuses for participating in webinars
  • Gifts in the form of iPads, phones, etc.
  • Prizes for winning a volume based tournament
  • and other bonuses described in the circular letter

I don’t think its fair!

I do understand. To give a bonus, which the trader, in the end, can’t withdraw could be considered as a manipulation. The same goes for the bonuses for volumes traded or risk-free trades. Bonuses for participating in the webinars are also complete nonsense.

I have nothing against the ban of all the above mentioned bonuses. It will be great. However, it seems strange to me to prohibit also the no deposit bonuses and even the tournaments.

I think that the no deposit bonuses are a great thing, so why to ban something, which is not conditioned by a deposit and thus there is no risk to the trader? I personally used this bonus offered by some brokers. They are so simple. You just have to register on the page, confirm your identity and get for example €50 on your account. The money you can use as you want. Then, if you meet the conditions (which does not include making a deposit), you can withdraw your money. Simple, isn’t it? To me, it’s not dangerous, or is it?

The tournaments will be banned. That is one of the things I also do not understand! The tournaments of IQ Option broker or Ayrex broker are a great way to get some extra dollars and to have fun at the same time. I see no reason, why these tournaments should be canceled. Everybody knows that when there are 1000 participants and only the first 10 will get a prize, it is not going to be very easy. What do you think about that? Let me know in comments.

More information about CySEC

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

One Response to “News: The end of binary bonuses and tournaments by CySEC”

I believe when you get to that point where you can make withdrawals as you want then its okay so say one has been scammed. but then there is a solution.

AnyOption

Anyoption are no longer accepting new clients for binary options trading. For a list of alternative brokers, and full comparison reviews, visit our brokers page.

Alternatively, these are our Top 3 brokers based on Ratings:

Nadex Exchange $250 100% » Visit RaceOption $250 90% 100% Deposit match bonus » Visit BinaryCent $100 85% 100% Bonus on ANY 1st Deposit » Visit

Anyoption were established in 2008 and the platform is operated by Ouroboros. The company is regulated by CySec (the Cyprus Securities Exchange Commission) – license no. 187/12. Anyoption represent one of the largest binary options brands in the sector. They were one of the first to enter the binary market, and offer an advanced trading platform for binaries and other innovative derivatives.

Price data is delivered via Reuters and trading is available on hundreds of assets including commodities, forex, indices and stocks. Support is offered 24 hours a day, and in a range of languages. The firm have also sought to get a license for them to offer portfolio advice – the first on the binary firms to receive this.

Trading Platform

The Anyoption trading platform has a distinct look and feel. The more familiar green and red trading buttons have be replaced by simple ‘Call’ and ‘Put’ buttons. This clear “Anyoption” feel still delivers a simple and easy to use platform, as well as some advanced features.

The range of trading options are listed along the top of the trading area. The choices of specific assets are then listed from a drop down menu beneath.

Multiple trading windows give traders the ability to trade on more than one assets at a time. Each window shows a price chart – which can be changed to suit the trader. Plus the windows displays the expiry time, current asset price and the returns.

Amending the trade size will automatically update the returns information. Traders have additional choices of lower payouts in exchange for a rebate on losing trades.

Overall, the trading area is clear, and unobtrusive. The configuration is flexible enough to suit most traders and the unique look and feel reduces the hectic nature of some trading platforms.

Bonus Info

Anyoption currently offer risk free trades for new sign ups. Deposit match bonuses are being restricted by the regulator (CySec) due to the often misleading terms and conditions. Risk free trades are much more favourable for the trader to get a feel for the platform and – hopefully – some additional trading funds if the risk free trade wins.

Trading choice

Anyoption offer some unique trading options when compared to other binary options brokers. In addition to regular option, the firm also provide interesting variations;

  • Binary Options – The standard Up/Down options. Will the underlying rise in value, or drop?
  • One Touch – These trades operate on a weekly expiry but offer high payouts, often only available here. These trades are often available ‘out of hours’ too.
  • Option+ – This is a feature that allows options to be closed early, either to lock in profits, or reduce losses.
  • Binary 0-100 – The 0-100 setup enables traders to buy and sell options almost like an exchange. This form of trading can provide huge returns (up to 1000%) or small rewards for low risk options.
  • Specials – These offer trading on specialist assets, or underlying classes not normally available – Bitcoin for example.
  • Bubbles – The newest innovation from Anyoption. Bubbles allows traders to select a finishing ‘bubble’ where they expect the price to finish at expiry. Depending on where the bubble is placed, the payout will change. (Screenshot below)

Anyoption App

The mobile app delivers a slick trading experience. Labelled “Anyoption, Anywhere”, it offers a well presented and well laid out platform, making it easy to use. As with the main website, the look and feel remains simple, but distinctive. The trading buttons are similar to those on the main site, and are still just as easy to use on smaller screens.

The app has been developed for both android and iOS with features and options designed for each platform, to utilise the strengths of each operating system. iPad and iPhone users will therefore see some unique touches that ensure they get the most out of their mobile device.

Real time trading is presented across all the usual asset types (commodities, FX, indices and equities). Prices can be updated as many times as necessary. The app is free to use and download and does not contain any ads.

In addition to the standard features, the developers have also ensured that all account management services can be carried out from the mobile app too. This has not always been possible with other broker trading applications. A lot of time and effort has gone into the Anyoption App, and it delivers a great user experience. Top marks.

Copy Trading

Anyoption deliver copy trading via their CopyOp Social trading platform. This platform allows traders to monitor the trading performance and history of other traders, and to copy their trades. This means each time the trader who is being copied opens a new position, so too will the trader who is copying.

The investment level can be amended to suit. So a trader with $100 in their account, could still copy a winning CopyOp trader who was opening trades for thousands of dollars. The smaller account would simply allocate a pro rata amount of their own balance. So if the copied trader used 5% of their balance on a trade, the copying trader would also invest 5% of the amount they allocated to copy with.

Binary options offer an ideal vehicle to use copy trading, because the higher volume trading will not suit every trader. They may be short of time for example. Copy trading allows them to follow successful traders, while still managing risk.

Copy Trading Demo

Here is a short copy trading tutorial video, explaining the concept of social trading:

Platform Features

Payouts

Payouts at Anyoption range between 70-75%. As ever, the actual figure will change based on the asset and the expiry time selected. One other attractive element is the fact that traders can choose to get up to 15% loss protection, meaning that even in the event of a trade ending up out of the money, the trader will still get back 15% of the capital used in the trade. This percentage return is one of the highest in the industry. This ‘insurance’ does impact that headline payout rate though, so traders need to bear that in mind when comparing other brokers.

Assets to Trade

AnyOption offers binary options in more than 50 different underlying assets, spread across currencies, stocks, stock index futures and commodities. The asset index is as follows:

1) Currencies: All the major pairs are available (USD, EUR, GBP, JPY etc), many 24 hours a day, 5 days a week. In addition to the ‘majors’, some of the currencies classed as ‘minor’ are also available.

2) Equities: The list of stocks available to trade is extensive. All major corporations are available, from both the US and Europeans markets.

3) Commodities: Copper, gold, oil and silver are all available to trade.

4) Indices: Major indexes such as DAX, Dow Jones, NASDAQ100, S&P500 and FTSE100 are listed. Plus other related markets such as the VIX (US Volatility Index) are also included here.

Expiry Times

The expiry times that traders can set when trading binary options range from 15 minutes up to ‘End of Week’, including the popular ‘End of Day’ timeframe which attracts lots of tailored strategies. Floating option types are also offered on a selective basis, allowing traders to close out trades that are in the money manually without waiting for them to expire.

Trading Requirements

In order to trade binary options on the AnyOptions trading platform, the trader has to sign up account online, login, and submit documents as proof of identification and residence, then fund the account using one of the several methods available (credit/debit cards, Paypal, Ucash, etc). The binary options trading platform is available in eight languages. This gives open participation to traders from all over the world.

Is AnyOption a Scam?

With the demand for binary options investments increasing, a large number of dishonest brokers have surfaced leading to questions being raised about the prominent and well-known brokerages such as AnyOption too. AnyOption is a legitimate binary options broker licensed in Cyprus and is regulated by the respected Cyprus Securities and Exchange Commission along with several other regulatory authorities. AnyOption is regarded as one of the pioneers in binary options trade and was established in 2008. AnyOption has the privilege of being associated with Shay Ben Asulin who is regarded as the pioneer of online trading in binary options and is a partner at AnyOption.

Anyoption are not a scam.

Complaints

Anyoption do not generate a lot of complaints. The credentials required to make a deposit and withdrawal can sometimes cause frustration, but these steps are normally in place in order to protect the trader. The processes are much the same at any creditable broker.

The lack of short term binary options sometimes draws complaints. The shortest expiry on offer is 15 minutes. At other brokers, “Turbo” options are available, which are often under 2 minutes in duration, sometimes as low as 30 seconds. So this is a potential area of improvement for Anyoption to work on. A lack of short term options may not be an issue for everyone however.

Anyoption review – Conclusion

Anyoption deliver an excellent trading platform, and that is backed up with an equally good mobile app. As one of the pioneers of binary trading, they continue to improve the offering – the most recent addition being the new “Bubbles” option type which is unique in the industry at present. The news of a granted “portfolio management” license from CySec is another interesting first. No other binary firm has got this license, and it is another sign of them trying to lead the way.

The CopyOp arm of the brokerage delivers social trading, allowing novice trades to copy other profitable traders – and those winning traders get to increase their profits at the same time.

They are regulated by CySec, and registered with other European regulators, and they generate very few, if any, complaints. The lack of short term expiries may put off some traders, but in general they offer a very good service and can be used with confidence.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

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