8 June, AtoZForex – Seems like hard times have entered the retail OTC binary options industry. Ban in Israel, MIFID II uncertainty and multiple regulatory warnings – this all isn’t serving a good role for the industry which consists of nearly 300 brands and 6 providers. Recently AtoZ Forex has learned that the binary options division of RoboForex, RoboOption closes and aborts its operations.
RoboOption closes:
RoboOption is a trade name of the regulated broker RoboForex, which is registered in Cyprus nad regulated by the Cyprus Securities and Exchange Commission (CySEC). According to the broker’s website, its main goal is to provide high-quality financial services related to binary options to the retail clients.
Right now it is impossible to register the new account on the website of the broker. The retail Forex sector of the RoboForex company continues to work in its full force. However, the binary options brand does not anymore offer registration and trading opportunities to the clients.
Hard times for Binary Options?
Over the past few years, local watchdogs in Cyprus, Israel, Canada, Britain, Australia, New Zealand, Italy and United states have issued a lot of warnings against unauthorized binary options brokers in their regions. So far the United States and Israel totally outlawed OTC binary options activities in their area. In the US binary options have to be executed via one of the central exchanges Cantor Exchange or NADEX.
The regulators have no actual jurisdiction to prevent potential investors from investing into binary options brokers without a proper license. In some cases, the firm might be regulated in one jurisdiction but not authorized in another. Therefore, the investors have to be very attentive and careful when choosing the firm to work with.
See also: ASIC Binary Options Warning: Banc de Binary, 24Option included
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