Do not invest more money than you can afford to lose.
Cyprus-regulated binary options brokerage group Novox Capital has received the approval of the Cyprus Securities and Exchange Commission (CySEC) to launch a new, purely peer-to-peer (P2P) based trading venue in collaboration with its software provider TradoLogic, the fintech said. This would be the first such platform to launch in Europe.
The two companies submitted the project for regulatory approval about 10 months ago.
“The recently launched Peer- to- Peer (P2P) model platform has been approved and will operate in the EU through Novox Capital Ltd (NVX) under the Cyprus Securities and Exchange Commission (CySEC) supervision,” TradoLogic said in a statement on its website.
In addition to binary options, the P2P platform will also support other assets, including currency pairs, stocks, indices, commodities and futures.
“The company will keep looking for new opportunities to improve and expand their portfolio of products and services and meet the highest demands of this competitive market,’ TradoLogic noted, without further elaborating on the matter.
A P2P binary options trading platform matches traders who take opposite positions on the same financial instrument. Such a model is implied in the US by Nadex and Cantor Exchange – the only two regulated binary options trading exchanges in the US.
“Concerning the new laws and regulations coming from CySEC, the P2P model is meant to improve the winning traders ratios, reduce the possible conflict between operators and traders and restore back the confidence in the binary industry,” the statement read.
Moreover, the launch of the new platform is expected to attract many investors and to increase trading volumes.
“I have no doubt that this is the future of trading digital options and I am delighted that we are getting on the same page with EU regulators. I’m positive that we will witness a massive growth in trade volumes over the next few months and we’ll see our hard work pay off,” said Michael Golod, TradoLogic CEO.
Novox Capital received in early 2014 a CySEC license to provide financial and ancillary services. It offers binary options trading services via several brands – OptionBit, ZoomTrader Global, RoyalPip, Novox Capital, and STX Markets. It is authorized to operate via the websites www.optionbit.eu, www.optionstars.com, www.zoomtraderglobal.com, www.stxmarkets.com, www.novoxcapital.com, and www.royalpip.com.
Bulgaria-based TradoLogic, SET UP IN 2008, is a provider of white-label trading platforms, as well as variety of other products including many option types, trading tools, advanced features, integration solutions and services. The company has offices in the UK, Cyprus, Israel, Russia, Shanghai, Hong Kong, Singapore, the Philippines, and Japan.