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AnyOption, a binary options broker regulated in Cyprus and South Africa, is expanding its operations throughout Europe by opening an office in Bulgaria’s capital Sofia and another office in Cyprus, reports the Finance Magnates website.
The new offices of the broker, owned by Ouroboros Derivatives Trading Limited, will focus on its expanding its regulatory, legal, and research and development capabilities.
Activities in the Sofia office will be mostly devoted to research and development for the brokerage, while that in Nicosia will deal with a host of functions including an emphasis on management, finance, regulation, support, and legal measures. At the same time, the headquarters of the company will remain in Tel Aviv.
In the past several years Bulgaria is gaining popularity as an outsourcing destination for various business services – mostly call centers and IT services, while Cyprus is known as a popular regulatory destination for companies offering all sorts of financial services. It is particularly favored by binary options brokers because of its relatively lax requirements. A Cyprus license, however, goes a long way, as EU directives allow the brokers to operate throughout the EU without need for licenses and regulations from other member-states.
AnyOption is a binary options trading platform launched in 2008 and regulated by the Cyprus Securities and Exchange Commission (CySEC). It offers trading in currencies, indices, commodities and stocks. In March it was fined EUR 235 000 by the CySEC for non-compliance.
Also in March, AnyOption launched its new trading system, called “Bubbles”. Recently the broker donated $20 000 to UNICEF as part of its social responsibility program.