Why CySEC is right to ban bonuses and stop pressure selling
So you are a small broker and want to grow quickly. What’s a firm to do? You hire a call centre, offer amazing bonuses and try to do everything you can to increase your earnings. You get everyone in the company on KPI based compensation, because more revenue is good for everyone, and things are ticking along just nicely.
Then CySEC comes along and messes it all up.
See, I understand why brokers might go this route and I understand why they might be upset about the recent rules from CySEC. Not being able to outsource your call centre to a cheap locale, reward aggressive sales people or offer bonuses is going to hurt a bit. But think a bit more long term and you can see the bigger picture.
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