Regulated Cyprus Investment Firm terminates the offering of bonuses and other trading benefits
Rodeler Ltd that is regulated and licensed under the Cyprus Securities and Exchange Commission (CySec) has issued an announcement to inform that has decided to completely terminate the offering of bonuses and other trading benefits.
Rodeler Ltd is the owner of a number of brands like 24option.com, Grandoption, 24FX, QuickOption.
The management of the company took this decision following CySec’s a Circular (C194) called “Offering bonuses to retail investors”.
This circular reiterated CySec’s standpoint on bonuses and other trading benefits offered in the CFD and Binary Options Markets, as unfair and not necessarily in the best interest of the clients as required by the legislative framework. Therefore, such bonuses and trading benefits are not permissible to be offered by Cyprus Investment Firms.
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Many of the brokers that I’ve been promoting that are regulated in Cyprus are requesting I remove the mention of bonuses from my online promotions.
The regulatory authority in Cyprus said early this month that these financial services companies must avoid the practice of offering bonuses to protect retail investors.
The Cyprus Popular Bank went bankrupt and the Bank of Cyprus nearly went the same way, because of the so-called bonuses!!!