The binary options broker iOption closes its doors


The industry has just experienced a very bad risk when the iOption binary options broker seems to have gone out of business; its employees were laid off on Friday, November 8, 2013. The traders who were used to speculating on the financial markets through binary options and more precisely through this broker seem to face many problems relative to withdrawing their funds. The company could finally leave the binary options circuit according to many internet media and very serious journalistic sources such as that of the Jewish daily newspaper Calcalist. The afore-mentioned newspaper has published an article on its website, and after its translation we can clearly see the reviews of journalists who announce the end of the iOption broker after having conducted a survey of 60 to 70 employees (mainly Israelis) that worked on behalf of the broker.

An unexpected situation

This announcement sounds like a rather unpleasant surprise since the company has so far demonstrated good future prospects and nobody expected that. The broker was carrying out its activities under the supervision of the Scorpid Trading Ltd company, which has recently obtained a license from the regulator of financial Cyprus markets (CySEC) and was thus recognized on  October 30, 2013 as an investment company in securities. This was a rather positive announcement about this company and the iOption broker since Cyprus was the first country to regulate binary options as genuine financial instrument and required brokers to meet certain conditions to obtain the license from CySEC and comply with European financial regulations.

In recent months, there has been a real influx of binary options brokers in Cyprus. The binary options industry has become a business environment that is strongly marked by greater competition and that’s what might have led the iOption broker outside of this market. Some sources also mention another reason that may explain the halt in operations by the broker; a possible merger is in progress with a bigger rival  binary options broker.
Recently, the staff of the iOption company realized that the broker was not in its top form; since November, they have noticed many internal problems specifically layoffs.

Are traders’ funds secure?

The situation gets most annoying when traders, who had a binary options trading account with the iOption broker, begin to ask many questions and wonder whether they can recover their money and get paid some day.
Fortunately for them, the answer is most likely “Yes!”; since the iOption broker is regulated by the CySEC, clients should be reimbursed for the money they had on their trading account. You should know that a regulated binary options broker has an absolute obligation to deposit  its traders’ funds on segregated bank accounts separate from this company’s funds to ensure its solvency and to reimburse its traders when they request a withdrawal regardless if the company is facing financial difficulties. Therefore, the iOption clients should naturally be able to recover their capital.

Choosing the right binary options broker

The team advises you to choose a binary options broker that is regulated in France and Europe. It is absolutely necessary to select a broker with licenses from the French stock exchange authority (AMF), english authority (FCA) and the CySEC for maximum protection of your funds in case of bankruptcy or unexplained closure of a broker. Several brokers have licenses from the two aforementioned regulators such as the TopOption broker; Our readers can enjoy an exclusive 100% bonus instead of 0% under normal circumstances. Also regulated by the FCA (FSA) and the CySEC, the OptionWeb broker reimburses up to 10 trades in November and provides you with protection just like the AnyOption, another preferred broker.

Please bear in mind that by opening a trading account with a binary options broker via, you automatically take advantage of our guarantee; i.e., in case of conflict encountered with a broker from our comparative chart of brokers, any problem withdrawing your earnings or any other concern that may arise during your trading experience, we will act on your behalf upon your simple request and engage our influence with the broker in question to solve the dispute in your favor if the situation proves to be legitimate.

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