In December 2013, the Cedar Finance binary options broker had its license revoked by the CySEC. The Cyprus regulator in charge of overseeing the European financial industry has been forced to penalize the broker following the offenses that have been identified against the latter. Basically, the removal of the license from Cedar Finance was only temporary, as the regulator gave the broker 30 days to correct the errors that have been brought against it. It turns out that in February 2014, the CySEC extended the removal of the license previously granted by the regulator to this broker, which begins to cause controversy in the options industry by being sanctioned by several international regulators.
Despite this negative pressure that hovers above the Cedar Finance broker, the latter’s teams do not seem to really consider complaints that have been brought against it by competent authorities and this broker still continues to normally operate in the trading industry by continuously offering services to traders and not paying much attention to the requirements of the CySEC and local financial regulations.
The broker has even launched a new product for traders called Super Turbo options. These binary options have the distinction of being based on short-term maturities, their maturity is variable depending on the preferences of each trader and can be 15 seconds, 30 seconds or 45 seconds. This is a true exclusivity as Cedar Finance is the very first binary options broker to provide such an aggressive trading instrument.
At the beginning of March, we mentioned that the developer of the TRADOLOGIC trading platforms that supplies brokers such as OptionBit which has recently been regulated by the CySEC, was working on a revolutionary project with the aim to combine gaming (gambling) with binary options. On this occasion, we were able to realize the advantages of super turbo and the turbo type binary options. This type of binary options is much appreciated by traders because it is a quick and easy way to speculate on financial markets and to earn money with high yields on investment.
Given the numerous criticisms recently recorded against Cedar Finance, it is best to opt for regulated binary options brokers that offer the same products if the turbo and the super turbo binary options trading are of interest to us. The 24option broker regulated by the AMF in France, but also at the European level by the CySEC and which has recently acquired the license of CONSOB (the Italian financial regulator) is the kind of binary options broker to turn to for quality services and significant returns. Note also that the 24Option broker was voted the best binary options broker of 2013 by Forex Magnates which further testifies to its seriousness.
24option does not yet offer binary options trading in super turbo mode with maturities as short as 15 seconds but has recently integrated binary options with 30-second maturities. This can be a very good alternative vis-à-vis the Cedar Finance broker that inspires little confidence in traders at this very moment. As described here-above, 24option’s 30-second binary options offer up to 91% return which is a particularly significant yield for very short term trading.
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