BetOnFinance is shutting down

BetOnFinance Is Shutting Down

BetOnFinance Is Shutting Down

It has been officially confirmed that BetOnFinance is shutting down and will no longer accept trades or provide any kind of service. This broker’s owner, a company called Fibetco, filed for bankruptcy on April 12th. Pool investing will therefore not be possible in the world of binary options for a while now. In the end, this radically new approach to trading turned out the company’s downfall. Why do we say that? Well, we have received some more details on the matter and decided to share them with you in the rest of this article. Read on and find out what actually happened.

BetOnFinance is shutting down | Press release

In the press release explaining the reasons why BetOnFinance is shutting down, the broker’s founder Jeff Saul informed the public that the investors behind this whole project have withdrawn. The reason for that, the press release continues, was the fact that simply too few people joined in on the action. Although the traders who did a trade here were pretty regular with their trades and generally quite satisfied, there simply weren’t enough of them to sustain the broker. The company will now be awarded a curator, so if you are by any chance one of its players, look in the Danish legal press for the curator’s name. He or she is the one who will be able to help you settle your claims if you have any. But is there an alternative?

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BetOnFinance is shutting down | What now?

Taking the place of this company is not an easy task because the people behind thought out of the box and created something unique. Unfortunately, it didn’t work in the end, so maybe it’s time to go back to basics. To that end, we recommend you read our IQ Option Review 2017 and see what they have to offer. They are not at the very top of this industry for nothing. As for BetOnFinance, we have to say that we are sad to see them go. They were brave enough to offer something new and hid nothing from their clients even after it became clear the investors are backing down. They were professional until the very end and informed the public thoroughly, which is something we can certainly appreciate. Maybe their new business venture hits the mark.

BetOnFinance is shutting down | Conclusion

Yes, BetOnFinance is shutting down due to their investors backing down, which in turn was caused by a low number of traders. The broker filed for bankruptcy and was declared bankrupt on Friday, 21st of April. Therefore, we do not have the unique opportunity to utilize pool betting on the binary options market anymore, but you can be certain that there are many more brokers out there that can provide you with a very exciting experience. One of them is mentioned in this very article. So don’t despair – pick another broker from our website and trade on!

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Author: Ben Prescott
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