Banc De Binary renounced CySEC license

Banc De Binary Renounced CySEC License

Banc De Binary Renounced CySEC License

Banc De Binary has begun the process of leaving the binary options industry, which is a piece of information that is sending shockwaves throughout the trading world at the moment. This broker has been around since 2009 and has always been regarded as one of the best and most popular brands on the market. However, Banc De Binary renounced CySEC license recently, which is a sure sign that they will not be with us for much longer. This was recently officially confirmed, so we can expect the whole process of closing this company down to quickly come to its end. Read on to find out more details about it.

Banc De Binary renounced CySEC license | Confirmation

Now then, as you probably well know, CySEC (Cyprus Securities and Exchange Commission) is in charge of issuing licenses to all trading companies operating in the European Union. The broker was indeed regulated by them for years, meaning that the company conformed to all necessary security standards. Banc De Binary renounced CySEC license this Monday (January 9), however, a fact confirmed by the agency itself. This proves that Banc De Binary is shutting down and that the process is already well under way. Their clients are currently receiving their money back, so everything should be resolved in a very short time period. The company’s website should also stop working very soon, including Banc De Binary app, and they have already stopped accepting new clients. Among other brokers, 24option seems best suited to provide traders with the same, if not a better experience. As you can see in our 24option Review 2016, they have the same minimum deposit, are equally reputable in the world of trading and offer loads of interesting features to all clients.

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Banc De Binary renounced CySEC license | Still monitored

If you’re a client of this company, you don’t have to worry about your money being delivered to you. You see, despite the fact that Banc De Binary renounced CySEC license, the agency will still monitor their behaviour in order to make sure every last trader is taken care of and no Banc De Binary scam occurs. In the end, it seems that the bad start of 2016 turned out to be too much for the Israeli company, which suffered constant media pressure both at home and in the UK due to the fact that they were fined by both CySEC in Europe and the CFTC in the United States. Banc De Binary EU also suffered because of regulation changes in Europe, which was the straw that broke the camel’s back and the owners decided to shut the operation down. At the moment, it seems very unlikely that they will return to the trading business any time soon.

Banc De Binary renounced CySEC license | Conclusion

And so, the binary options industry is left without one of its most famous brands. Since Banc De Binary renounced CySEC license, this is now very clear. There is no doubt that this kind of trading will continue to grow and expand, but reaching the standards this company set during its early years will be quite a challenge for all other brokers.

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Author: Ben Prescott
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