The iOption binary options broker, which has until now been based on the island of Cyprus like the majority of competing binary options brokers, seemed to have ceased its activities in the brokerage field for the past few weeks, but this has just been made official by the competent authorities and the representatives of the broker themselves. In fact, we have already sent notification in November about the broker whose management has proceeded to staff layoffs and suggested that the closure of iOption would take place. The CySEC has just published two documents in which it once again places the focus on the situation of the iOption binary options broker.
There are two official documents published in recent days on the website of the CySEC; the first of these documents is a warning against iOption Global Group 2012 Ltd, the company behind the ioption.com website. The regulator warns traders and other investors that the company is in no way regulated by the CySEC and consequently it has neither the authority nor any license permitting it to offer its services related to binary options brokerage on the European territory.
To have an honest approach, the Cypriot regulator of the financial markets is a good idea; the fact is that this time around the regulator lacked speed and should have issued a warning earlier, before the broker iOption declares that it finally retired from the circuit of binary options brokers, instead of being published later on 01/07/2014. In fact, when we go back to the websites of the broker (ioption.com and ioptioneu.com) we can see in a blink of an eye that the broker team has posted a message on the main page which includes that the “provision of financial services will end as of 12/31/2013. The company does not accept any client or any account opening or any new cash deposit on already existing accounts. All client funds are properly reimbursed to the traders through the standard process of removing the broker”. Traders who had a binary options trading account with iOption should therefore recover their money without any problem, particularly since the iOption broker had received the CySEC license a short time before its closure; thereby the regulator protects the traders and their money in any event.
The second document published by the CySEC that we are referring to announces this time around the CySEC’s removal of the license previously granted to the company Scorpid Trading Ltd; the parent company behind the iOption brand that offers its brokerage services through the previously mentioned ioption.com and ioptioneu.com websites that are hosted in the name of the company iOption Global Group 2012 Ltd. This license removal comes in the aftermath of a request from the iOption broker aiming at voluntarily relinquishing such license as the broker would announce the end of its operations given the difficulty of the preceding year.
In the present case, we have seen that the iOption broker reimburses its traders and proceeds to transfer the money from their trading accounts to their own bank accounts. The closure of the broker is not a good sign in itself and it can in fact instill fear in traders who may wonder if they will recover their money one day. The iOption broker was honest here by automatically reimbursing its traders. Let’s imagine for a moment that a broker was dishonest and would have the opportunity to make off with the takings by closing down and would not have reimbursed anyone, traders would still be able to recover their money since the iOption broker was regulated by the CySEC. This ensures traders’ protection when the CySEC grants its license to the iOption broker, thus the importance of choosing a regulated binary options broker!
The regulated binary options brokers include big names in the trading industry such as the 24Option, AnyOption, OptionWeb or TopOption brokers that were able to prove themselves by obtaining the licenses of several regulators of the international financial markets.
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Thanks to our privileged relationships with the brokers, we have also successfully negotiated special binary options bonuses that would not be the case under normal circumstances. For example, when one of our readers proceeds to opening a 24option or an TopOption account, he benefits from a 100% bonus on deposit whereas the normal bonuses granted by these two brokers basically do not exceed 20%. This can be a significant advantage to double one’s investment as soon as one embarks in binary options.