Banc De Binary, a leading binary options platform, has recently opened an office in Limassol, Cyprus, which will serve as the company's headquarters for business conducted in Europe and the Middle East. The opening of this office constitutes a multi million euro investment in the island which is also the home to many other Forex brokers and binary options brokers such as FXCC, OptionYard and Trade Rush.
New York based Banc De Binary was founded in 2009 and is one of the only licensed binary options brokerages in the world (CySEC license 188/13) and after becoming the first EU regulated binary options brokerage, has been in talks with the Commodity Futures Trading Commission (CFTC) in order to be approved for operation as a binary options exchange in the United States.
Regarding its move to Cyprus, Banc De Binary founder and CEO Oren Laurent, said: "?Cyprus's geographic location, excellent infrastructure and high-calibre labor pool made the island our first and only choice for our European and Middle Eastern headquarters". The licensing obtained from the Cyprus Securities and Exchange Commission (CySEC) provides the company's clients with an additional layer of security and transparency, wherein all trading accounts are now fully-protected by the Investor Compensation Fund in accordance with CySEC's regulations.
Binary options, also referred to as Fixed Return Options (FROs), contrast to other traditional investments in that investors select only the direction of an asset movement in order to complete a successful trade. Binary options offer only two possible outcomes: "?Up" or "?down".
Cyprus expects to see the benefit of the continued growth of the binary options industry with the creation of over 1,200 new jobs and Banc De Binary is expecting annual earnings of well over 100 million euros, a very important factor during these challenging economic times. The binary options industry in Cyprus is currently valued at 500 million euro per year.
