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
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:
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.”