On Sunday November 10th, iOption notified its gross sales staff and associates to cease sending new merchants to their web site. Additional investigation reveals that iOption is bankrupt. There apparently has been issues now for a few months over at iOption. Apparently Forex Broker withdrawals weren’t being processed in a well timed vogue and different monetary downside the place occurring.
iOption was a extremely popular Forex Trading Forex Broker owned by IOPTION GLOBAL GROUP 2012 LTD. They simply introduced on October 31st that they acquired their license from the Cyprus Securities Change Fee (CySEC). After we checked CySEC’s web site we couldn’t discover a license quantity for iOption. iOption is positioned at Akara Bldg., 24 De Castro Road, Wickhams Cay 1, Street City Tortola British Virgin Island.
We spoke with an worker of iOption to see if we may get any solutions relating to what’s going to occur with Forex Broker accounts or what number of merchants iOption had. The worker had no solutions for us. Workers apparently haven’t been paid their wages for October. We are able to solely wait and see what’s going to occur.
Though this doesn’t look good for the Forex Trading business, it’s the pure development of a younger business. Keep in mind there are over 200 Forex Trading Forex Brokers all vying for a similar enterprise. There will probably be continued bankruptcies and consolidation within the business. The truth that iOption was not a regulated Forex Broker, or solely not too long ago utilized for regulatory oversight from CySEC leaves unknown what will probably be with merchants account balances.
Who’s a Forex Broker of iOption suppose to show too? Your native regulator is not going to be a lot of a assist as a result of they didn’t regulate iOption, see listing of regulators right here.
There are at the moment lower than ten Forex Trading Forex Brokers regulated by CySEC. Learn protection of regulated Forex Trading Forex Brokers right here.