As we have projected 24Option closed binary option desk and started focusing on Forex market. The online brokerage company will stop accepting deposits from new traders from EU.
6 July, AtoZForex – The online brokerage company - 24Option will leave the binary option desk and start focusing on FX and CFDs from this week. Also, the company will stop accepting deposits and trades from the new traders that are residing in EU from this week. Moreover, this also includes the new clients from rest of the world.
Indeed, we have been expecting 24Option to close their Binary Options brand since April. Company signaled major changes since closing their Israel based call centers after CySEC binary options circular.
24Option closed binary option desk- focusing on Forex
24Option representative, Jason, indeed confirmed that 24option closed binary option desk for new traders as of the 3rd of July:
"Due to 24Option regulation effective Monday the 3rd of July 2017, all new registrations will all be classified as FOREX/CFD registrations worldwide.
Binary Options will no longer be available for selection and clients will not be able to view Binary whatsoever on the trading platform until further notice."
This decision by 24Option will affect binary options traders residing all over the world. These changes are signaling a major change in operations and expanding there focuses on Forex and CFD segment of the market.
Moreover, new clients of 24Option will only deposit and trade in Forex and CFDs trading account. This move is a strategic shift for the company as they started competing with big players of the Forex market. The website www.24option.com is operated by Richfield Capital Limited a Company regulated by the International Financial Services Commission.
24Option's ''New strategic focus'' 24FX?
24Options launched its FX and CFDs trading segment a few months ago and the company is targeting on their new brand ambassador partnership and educational efforts.
Meanwhile, Richfield Capital Limited is also the operator behind 24FX.com. We asked 24Option about the case if 24Option will move to 24FX?! Jason, said that the company has not decided with the domain name update yet.
On the other hand, we've sent a list of questions to 24Option marketing team about the scope of this change. Specifically asking, WHY NOW?
TO BE CONTINUED....
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