Vantage FX leaves Binary Options market, now concentrating on the Forex market, indices and commodities services provision. Yesterday, 24Option closed binary option desk focusing on Forex. Which broker will be next?
7 July, AtoZForex – With Binary Options becoming a topic of concern for global financial regulators, more and more companies abandon this market. The latest brokerage to stop Binary Options offering is an Australian firm Vantage FX. Therefore, this Australian regulated broker now will focus its efforts on Forex, stocks, and commodities markets.
Binary Options trading in Australia
Binary Options appear to be a risky investment to a majority of the worldwide financial regulators, with some of them even banning the Binary Options operations as a whole. Just like that, the New Israeli Binary Options law has passed its first hearing at Knesset, Israeli Parliament.
Binary options firms already have no right to offer their products in Israel. ISA has a stance that Binary Options is gambling, not a financial product. If the new Binary Options Law passes the Israeli parliament, Israeli trading firms will be banned from offering investment services to non-Israel based traders.
In Australia, Binary Options trading in Australia is still available for investors’ community. However, there are numerous warnings from the Australian Securities and Investments Commission (ASIC) about Binary Options providers. One of the latest alerts from the regulator - Australian ASIC warning against BinaryTilt.
Vantage FX leaves Binary Options market
Vantage FX leaves Binary Options market, as the firm has stopped offering of Binary Options products on its website. Now, the brokerage is planning to focus on the Forex market, indices, and commodities trading.
The firm believes that the Binary Options is no longer fit for its operations. The Director of Sales and Marketing, Vantage FX, David Bily, has commented:
“We always used binary options as a no-fuss market that new traders would start learning through and then transition to Forex as they grew.”
In fact, Vantage FX is not the first brokerage to make such a step. Just yesterday, AtoZForex reported that 24Option closed binary option desk focusing on Forex. 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.
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