Binary Options are relatively new financial instruments that have gained a huge success in recent years.
Many traders stepped forward and took advantage of the opportunities that the Binary Options offer. In short, the success and spread on a large scale of this instrument called for a need to regulate the industry.
Finally, after much waiting, came the answer that the European Union has integrated Binary Options in the category of financial instruments regulated and recognized within the states of the union.
One of the first countries that mobilized was Cyprus where binary options brokers who are based there have already applied for permission to be recognized as a CIF (Cyprus Investment Firms).
Cyprus provides for a time limit of fifteen days to submit an application, and six months to submit the necessary documentation for approval. The regulatory process may take a long time due to bureaucratic issues, an estimate of six months to one year, but it is more likely to take twelve months.
Once you have obtained the permission of the CIF, binary options broker will become part of the MiFID, which is the European legislation that also regulates the Forex online platforms.
Today you can open an account with these Regulated Brokers: