BinaryOnline operates as a brand of Spot Capital Markets Ltd, a Cyprus Investment Firm offering investment and ancillary services internationally. Spot Capital Markets Ltd is authorised and regulated by the Cyprus Exchange Commission, holding CIF License Number 210/13. In order to see the license, please click here. Spot Capital Markets Ltd is governed by all applicable EU and local regulations including the European Markets in Financial Instruments Directive (MiFID) and the Cyprus Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007).
Cyprus Securities and Exchange Commission (CySEC) is the independent public supervisory Authority responsible for the supervision of the investment services market and transactions in transferable securities carried out in the Republic of Cyprus. CySEC was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. The operation of the CySEC is governed by the Laws regulating the Structure, Responsibilities, Powers, Organization of the Cyprus Securities and Exchange Commission and Other Related Matters (N73(I)/1009).
The Markets in Financial Instruments Directive 2004/39/EC (“MiFID”) is a European Union law that provides harmonised regulation for investment services across the 31 member states of the European Economic Area (the 28 Member States of the EU plus Iceland, Norway and Liechtenstein). The main objectives of the Directive are to increase competition and consumer protection in investment services. As of the effective date, 1 November 2007, it replaced the Investment Services Directive.
Investor Compensation Fund
Spot Capital Markets Ltd is a member of the Investor Compensation Fund for Customers of Cyprus Investment Firms (CIFs) and other Investment Firms (IFs) which are not credit institutions. The Fund constitutes a private law legal entity with the object to secure the claims of the covered clients against the members of the Fund by the payment of compensation for their claims arising from the covered services provided by its members, so long as failure buy the member to fulfill its obligations has been ascertained. Any compensation provided to clients by the Investor Compensation Fund shall not exceed €20.000.