Making money online:Be aware of facts

Does Cysec  support complaint against any Binary Option Broker 

As told in my other posts, most of the Binary brokers claim that are regulated in Europe as they are registered and regulated by Cysec in Cyprus.

But do you believe if there is any benefit for you and if you get in a trouble with one of these Binary broker this organisation helps you???

For me the answer was No.

I lodged a complain against on of these brokers that is regulated by Cysec and always refused my withdrawal request and after a while even did not replied my emails and  you can see the reply from them at below:

Sent: Wednesday, December 30, 2015 at 8:11 PM
From: CySEC_Complaints <complaints@cysec.gov.cy>
To: CySEC_Complaints <complaints@cysec.gov.cy>
Subject: Cysec's reply regarding complaints

Dear Mr/Mrs

Thank you very much for contacting the Cyprus Securities and Exchange Commission (the “CySEC”).

Please kindly note that CySEC does not have restitution powers and therefore does not investigate individual complaints. However your complaint was taken into consideration by the CySEC in the performance of its supervisory mandate.

If you are not satisfied with the firm’s response, it is recommended that you check with the office of the Financial Ombudsman in case you are eligible to file a complaint with them and seek mediation for possible compensation.

The Financial Ombudsman website can be accessed via: http://www.financialombudsman.gov.cy

Best regards

Complaints Team

Cyprus Securities and Exchange Commission

27, Diagorou Street, 1097 Nicosia, Cyprus/ P.O.Box 24996, 1306 Nicosia, Cyprus

Tel. (+357) 22506600  Fax (+357) 22506700

Email: complaints@cysec.gov.cy Web: www.cysec.gov.cy