The popularity of CySEC is a result of a business-friendly tax regime and the ease of operating a financial service in the region. As part of the EU, Cyprus-regulated firms can legally offer their financial services, such as binary options and forex trading, to EU residents, thus making it an ideal regulator for most brokerage businesses in Europe.
The attraction for binaries was partly due to the simplistic nature of the trade and the fact that one did not need to put up huge sums of money. Combine this advantageous prospect with no need for leverage and throw in the term “Fixed Risk” and binary options quickly became popular with traders.
Getting a EU license is now something compulsory in order a broker to keep going and to support his reputation as a reliable one.
Now that 24option has a CySEC license the company only validates its reputation as one of the safe and reliable platforms for binary options trading and gives them the confidence to continue developing their platform attracting new traders as future partners.