Binary CM has shut down!

WARNING: This broker has been shut down due to numerous complaints and security issues. We strongly recommend trading with regulated and trusted brokers.

CHECK OUT OUR LIST OF TRUSTED BROKERS HERE

Another broker has closed its doors and will not compete in the binary options industry anymore. Yes, Binary CM has shut down and no trader can do business with them, so let’s take a closer look at what happened and what this means. It is interesting to note that Binary Capital Markets went down just one year after its launch, and given the fact that they were quite ambitious and aimed pretty high, the fact that they are not in the game anymore is quite a surprise. Not a lot of information is available, but we’ll work with what we have to try to get to the bottom of this. Read on and see what you can learn.

Binary CM has shut down | Short lifespan

Much like in the case of the Boss Capital shutdown, we have received no official statements from the broker on the reasons why Binary CM has shut down, nor did we find anything useful online. Still, some conclusions can be made from what we know. Given that the company was only launched in October last year, it is quite possible that they failed to reach the number of people that would allow them to stay open. Like we said, they were pretty ambitious, but this also means they invested a lot in making their presence know. If traders didn’t react as expected, it is possible that the return of this investment was very slim. However, we also got some interesting feedback from traders who signed up with this broker. Keep reading to find out what they told us!

Binary CM has shut down | Several complaints

Before we move on, allow us to point you to our IQ Option Review 2017 if you need a new broker. This is one of the best companies in the industry and you simply can’t go wrong with them. Now, over the last month or so we received several complaints from the broker’s clients that they cannot access their money. True, we can’t say there were many of them, but combining that with what we said in the previous paragraph and the fact that Binary CM has shut down could give us the reason behind what happened. When a broker stops paying out its clients, it is usually a sign of financial problems and doesn’t necessarily mean that you’re dealing with a deliberate scam. Still, since there is no official explanation or statement, this is all we know at the moment. Naturally, we will keep an eye on any new information that may appear about BCM, but if you have anything to share with us, don’t hesitate to drop us a comment below.

Binary CM has shut down | Conclusion

So, Binary CM has shut down and another broker has left the industry. This is nothing new because the competition in this business really is fierce, but we regret that we have no additional information about what happened. We can make educated guesses, though, and we believe we’ve made some reasonable points in this article. But don’t let this event stop you from trading. There are so many brokers that are more experienced and more reliable than BCM and our website has covered them all. Read our analyses and make your choice!

CHECK OUT OUR LIST OF TRUSTED BROKERS HERE

Recommended reading