November Binary options updates

November Binary options updates

Submitted by adil on Fri, 12/06/2013 - 08:35

The past November turned out to be quite tumultuous for the binary option trading industry. It shaped up to an extremely successful month for some of the traders while it heralded total disappointment and struggle for others. There were many mergers and bankruptcies whereas many other companies kept on making progress by leaps and bounds.

Perhaps the biggest news of the November was the bankruptcy of once very successful and prominent binary option trading broker, the iOption. According to the specialist of the industry, a major financial crisis led this very popular company to the state of bankruptcy. However, what were the exact circumstances that have caused this major disaster are still unknown.

In total contrast to iOption, the other giant of the industry that is the 24 Option.com kept on piling profits. The company made major advancement when it acquired Zone Options, a CysSec regulated company from the Rodeler Limited. This was an indication that traders can expect many more acquisitions, bankruptcies and mergers as the 2014 gets closer. On the whole, it was a really nice move by 24 Option as it consolidated the industry with more than 200 brokers. Furthermore, 24 Option are looking to explore new markets in Italy and Japan as they have received regulatory oversight from CysSec. Similarly, the company also held a hugely successful trading competition worth $100000 that lasted till the end of November.

On other hand another prominent company, the Top Option increased their minimum deposit amount to $200 for all new users in November. This helped them to rank themselves in line with most of other brokers who demand up to $200-350 as a registration fee. The step has been taken to allow only serious traders to use their platform and keep spammers and no serious people at bay who later create a lot of problems for any company.

Similarly, Capital Option that was established in September, 2013 and is a fairly new broker decided to end their free Porsche giveaway contest from November, 21. Although, no explanation has been issued in this regard yet experts assume that a trader must have won the competition. If this is the case, it is quite an achievement even for the best traders as participants needed to make 20 consecutive trade wins to win the competition.

EZ Traders is one of the few licensed brokers who still accept American traders. The company released new video in the November with the title of Trading for Dummies. Unlike other companies, the EZ Trader did not alter their minimum deposit amount in November and continued to offer 100% bonus to their new users that could get as high as $2500.

Finally, the world saw the launch of a new resource for the binary traders with the name of Scam Broker in the previous month. The basic objective of Spam Broker is to review various brokers and help the traders to find them. This is an extremely helpful service that can indicate the brokers that are spam and warn traders not to sign up with them.