The binary options broker Banc de Binary has to pay a 125,000 euros fine to the Cyprus Securities and Exchange Commission (CySEC).
In fact, this fine is a total of several fines connected to the fact that Banc de Binary had been offering binary options to US clients without a proper license in 2013.
This broker had problems because of this with US authorities and the CySec acted too. One of the fines was for not telling the truth. Banc de Binary claimed that it has not the intention to provide binary options to US clients, although it already had US clients.
Banc de Binary is ready to take legal action to change the CySec’s decision. According to feedback we are getting from binary options traders Banc de Binary is not a very good broker anyway, so we do recommend to choose among other companies.