The closure of the CedarFinance binary options broker

cedarfinance broker cysec

There are binary options brokers emerging online a little more each day. Whereas some are trying to impose themselves within this industry, others disappear and recently this has been the case of a well-known broker, which in mid-November announced its end. CedarFinance permanently closed its doors and bid its farewell to the binary options scene.

Who is the CedarFinance broker?

CedarFinance has been one of the first brokers to emerge in the trading industry. Basically, this broker had a very good reputation; its platform was effective and efficient along with its customer service and its binary options training. The broker offered its traders the opportunity to speculate on the course of more than 150 different financial assets (Forex currency pairs, stocks, indices and commodities). The broker’s platform was designed by Tradologic; it offered a wide range of binary options (classic, touch, range, turbo, etc.) with variable maturities and high yields on investment.

When you view the online users’ reviews of the CedarFinance broker before its closure, we could see certain types of recurring complaints with regard to this broker. The most frequent complaints pertained to cash withdrawals, whereby obviously a lot of traders encountered great difficulties withdrawing their earnings with CedarFinance. Other recurrent problems related to account managers who did not gain new clients as promised and drove them to trade unduly, something which we do not encounter with authorized brokers.

It happens that CedarFinance was a binary options broker that has been authorized since 2013, whereby the financial market regulators of Cyprus CySEC presented the broker with its license and therefore considered it as a serious broker whose practices were in line with the texts and regulations of the local financial regulator.

CedarFinance closes its doors

By acquiring control of the CySEC license to use, the CedarFinance broker thus became authorized throughout Europe. However, the good old days of the broker would not have lasted long since the CySEC regulator has temporarily withdrawn the broker’s license on several occasions due to the broker’s non-compliance with some of the financial rules of the regulator before permanently withdrawing the license in 2015. Several months later (in November), we subsequently learned the official closure of the CedarFinance broker.

The authorized binary options brokers

The reputation of the CedarFinance binary options broker was not one of the best online, which is probably why the broker has also recently closed its doors. As opposed to the CedarFinance broker that went out of business, there are fortunately serious binary options brokers called “regulated binary options brokers“.

Are you wondering what constitutes a regulated broker? It is a broker that has been authorized by official financial regulators. 24Option is a perfect example of a regulated binary options broker. This broker has a trading platform that is translated into many languages, it is present internationally and is also authorized to provide its services to traders by the majority of European financial regulators (AMF, CySEC, BaFin , CONSOB, CNMV, FCA).

24Option is a serious binary options broker  that in recent month so much so that it has partnered with the giants of high level sports industry such as Juventus, Olympique de Lyon (OL), or the former professional tennis player Boris Becker. These various partnerships demonstrate that reputable professionals have put their brand at stake and are not afraid to be associated with a broker such as 24Option, which shows a certain confidence in 24Option and convinces traders that they too can trust this internationally-renowned broker that has nothing more to prove about its seriousness.

The BonusBinaryOptions.net advantages

Please be aware that hen you join a binary options broker through our website, you can enjoy exclusive benefits that can not be found anywhere else. The first benefit is that you can enjoy is the awarding of a negotiated bonus on deposit which normally does not exist among brokers. For example, if you decide to open a 24Option account, you can enjoy a 100% bonus on deposit. Hence, when depositing for example $ 300 in your trading account, you will be credited with an additional $ 300, which will allow you to have $ 600 for speculating. Note that the 24Option generally offers its new traders bonuses on deposit that amount to a maximum of 25%.

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