Exclusive: BinaryOption.com closes down, all clients transferred to Cantor Exchange

BinaryOption.com , one of the largest binary options trading firms in the world, has today closed down, transferring all of its customers to Cantor Exchange

new york

One of the largest binary options firms in the US, BinaryOption.com, has closed down today, after just four months in operation.

BinaryOption.com was registered as an Introducing Broker by the National Futures Association in the United States, and, being an American company, processed all orders via a dedicated binary options exchange in accordance with US law.

The company was relatively small in terms of volume, but had one of the very largest domains in that particular sector in the world that dates back two years, having been bought by former TRADOLOGIC CEO Ilan Tzorya two years ago.

Four months ago, the BinaryOption.com domain was put to use in the form of this particular US based binary options firm that executed its trades via Cantor Exchange, however the end of the road for the firm is here already.

Today, BinaryOption.com sent a letter to all clients, stating:

Dear Clients,

We would like to inform you that BinaryOption.com will be closing as of today, September 20th, 2016. Unfortunately, our website and trading platform will no longer be available for clients.

Effective immediately, your account will be transferred to Cantor Exchange. If you would like to continue trading, please contact Cantor customer service who will provide you with additional information regarding your account. Any balances that you may currently have is held by Cantor Clearing House and will be available for you to either trade or withdraw.

We would like to thank you for your patronage and understanding during this transition. If you have any additional questions regarding BinaryOption.com, please contact Cantor Exchange directly.

Cantor Exchange has prepared a follow up notice to the original announcement by BinaryOption.com, which is as follows:

“On Tuesday, September 20, 2016, BO Trade LLC dba BinaryOptions.com, a National Futures Association registered Introducing Broker, informed the Cantor Exchange, a CFTC approved Designated Contract Market, that they will no longer be referring participants to the exchange.

Due to the regulatory framework for the Cantor Exchange, all existing participant funds are safely held by Cantor Clearinghouse in a segregated account.

For the Cantor Exchange, nothing is more important than the confidence exchange participants have in our marketplace and the protection of our participants when trading on the exchange.”

 

Read this next

Institutional FX

Broadridge helps SLIB to enhance cross-border proxy voting in France

“Together with our partners at SLIB, we have delivered an advanced voting and communications solution that makes it easier than ever for all investors, both those in France and in other markets, to seamlessly cast their votes in the companies they own.”

Digital Assets

FTX resumes salary payments to employees and contractors, except in Bahamas and Australia

“FTX also is making cash payments to selected non-U.S. vendors and service providers where necessary to preserve business operations, subject to the limits approved by the Bankruptcy Court. We recognize the hardship imposed by the temporary interruption in these payments and thank all of our valuable employees and partners for their support.”

Market News

Rishi Sunak’s reign in real data

After several weeks of Rishi Sunak’s appointment as the new Prime Minister, it is obvious that he has claimed quite the public support.

Digital Assets

CrossTower acquires BEQUANT to help crypto industry reset and consolidate

“We are stabilizing an industry with incredible promise; regaining trust; and rebuilding the future of finance.”

Retail FX

Plum launches crypto offering for EU residents

Plum has added crypto investing to its range of investment options in France, Belgium, Spain, and Ireland. Residents there will be able to buy and sell cryptocurrencies in their app with just a few taps, via services provided by Bitpanda.

Retail FX

FX/CFD and Crypto broker Quantfury launches fractional trading of stocks, ETFs, commodities

“Quantfury is advancing its unmatched trading and investing conditions further by making it even more affordable to Quantfurians out there. Fractional trading mode opens up more trading opportunities to the Quantfury global audience of more than 400,000 Quantfurians.”

Industry News

SEC awards $20 million to whistleblower despite degree of culpability and reporting delay

The Securities and Exchange Commission has awarded a whistleblower with $20 million for providing new and critical information that led to the success of an enforcement action.

Institutional FX

Tradesmarter’s white label WOW TRADER integrates with TradingView

Tradesmarter’s white label trading platform solution WOW TRADER has integrated with TradingView, the high performance and mobile friendly charting tool.

Industry News

ASIC loses fee overcharging case against Commonwealth Bank of Australia

“ASIC pursued this case because we believed CBA did not have robust compliance systems to ensure customers were being correctly charged. ASIC will carefully consider the judgment and continue to work to ensure large financial institutions charge fees correctly and put their customers first.”

<