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IMPORTANT UPDATE AND WARNING:

We have recently received complaints and read many negative reviews on the internet about regulated binary options brokers using indecent practice towards traders. Although some binary brokers may be regulated, we do not recommend opening a trading account with ANY broker, be it a regulated broker or a non regulated broker, as THEY ALL seem to be unethical and non-trustworthy, even the regulated ones! If you have been scammed by such a company you can check out our RECOVER FUNDS FROM BINARY SCAMS section.

Also, instead of trading binaries which are mostly scams, you can trade with a trustworthy and popular FOREX broker such as FXORO.



24option – Broker to “Leave Behind” the Binary Industry and Focus on FX and CFDs, French Regulator (AMF) Lifts Ban

24option is No Longer a Binary Broker!

After the BDB shut-down and 24option turning to other trading tools it seems that the giants are leaving the binary options industry and this is a trend that will continue until binaries go the way of the dinosaur.

An uplifting turn of events! 24option, (owned and operated by Rodeler Limited) the controversial binary brokerage that received the FX Empire Broker of the year award back in 2014 and recently received a ban from the French AMF and a warning from the New Zealand FMA has decided to leave binaries behind and move on towards greener pastures. The AMF has since lifted the ban, apparently not a coincidence. We have also read that they [24option] have hired a new CEO who is dead-set on turning the company into a new direction, away from binaries and towards FX and CFDs.

A formidable move by 24option – we hope all binary brokers will learn from this example.

Moving to FX and CFDs

24option launched its FX and CFDs trading product several months ago as it has been officially preparing to leave the binary options industry since May.

We see this as a good move and believe that all binary brokers, that are controversial and have a bad reputation, should cease binary trading and move to FX, CFDs and stock-markets, where there is more transparency and rules are not easily broken.

The french regulator (AMF – Autorité des Marchés Financiers) has since lifted the ban on 24option. This apparently not being a coincidence.

Binaries Versus FX and CFDs

24option is (soon to be – was) one of the top 5 leading binary brokerages in the huge binary options industry where billions of dollars are traded per week (in volume).

24option has had hundreds of thousands of traders that have traded on their binary platform throughout the years since its inception.

Unlike the FX and CFD industries where smart and educated traders can make a very good living, the binary industry is mostly made up of losers and bad traders with a “gambler like” mentality.

These type of traders are easily turned into victims when lured into trading binaries.

We are hoping that 24option will not only switch to different investment tools but also stay away from clients with the gambler mentality and steer clear from victimizing innocent investors with stories of “easy money”.

Only time will tell and we are keeping our fingers crossed that 24option will become a trustworthy FX brokerage and be an example for all other binary brokers in the industry.

At the same time we must state again that the move is formidable and we hope all binary brokers will learn from example.

The only FX broker that we can truly recommend at the moment is FXORO.

Binary Options are Dying

After the BDB shut-down and 24option turning to other trading tools it seems that the giants are leaving the binary options industry and this is a trend that will continue until binaries go the way of the dinosaur.

We are glad to see this new trend as we have been trying to have a positive impact on the industry, either through regulation or through warnings and now we are even helping people learn how to get their money back.

Binary options are slowly dying, it’s not a question of “if” – it’s only a question of when – hopefully, very soon.

Although our main goal was to help the industry with stricter regulation, our secondary goal has always been to help warn traders from the scammers.

We can not really say as a fact if 24option was a scammy broker or not but what is sure is that the binary industry is extremely scammy and many 24options clients were very unhappy with their trading experience.

The binary industry is now on its death bed, binary brokers will either move on – like 24option – or soon fade away.

You can check to see if you can find any FX or CFD trading related complaints about 24option by searching on “Google” for keywords such as “24option FX Scam” or “24option CFD Complaints”.

Is It Safe to Trade FX and CFDs on the 24option Website?

At this moment we can not state if it is safe or not safe to trade FX and CFDs with 24option.

The only FX broker that we can truly recommend at the moment is FXORO.

If you want to trade FX and CFDs with 24option, you can easily do some research on Forex and CFD trading forums and review boards or complaints boards.

You can also check to see if you can find any FX or CFD trading related complaints about 24option by searching on “Google” for keywords such as “24option FX Scam” or “24option CFD Complaints”.