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CySEC tightens control on forex and binary options brokers in line with ESMA’s guidelines
The Cyprus Securities and Exchange Commission (CySEC) has issued a circular to Cyprus investment firms, setting some new rules about trading bonuses, maximum leverage and withdrawal time. In its essence, these measures are in line with ESMA’s guideline, published in October. First of all, in its paper CySEC says that the brokers “must avoid the practice of offering bonuses that are designed to incentivize retail clients to trade in complex speculative products such as CFDs, binary options and rolling spot forex as it is unlikely that a firm offering such bonuses could demonstrate that it is acting honestly, ... (full story)
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