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

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<