24Option To Drop TechFinancials

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24Option To Drop TechFinancials

The New Age Of 24Option

We have learned, through a story first broken by FinanceMagnates, that leading broker 24Option has decided to drop TechFinancials as their technology provider. The company, owned by Richfielf Capital, has decided to use a proprietary and in-house system for future trading and payment processing. While the benefits for 24Option are obvious, those for the traders and TechFinancials are not. The move is expected to take effect 30 April 2020.

TechFinancials is the current technology and payment provider for 24Option, the flagship brand of the company. TechFinancials went public in an IPO late 2020 and has since been the leading provider in the industry. The move by 24Option will not be a good one for the company as it is their number 1 source of income. In their statement TechFinancials said that there will be no material impact on the current quarter but may have an impact on future quarters. In fact, the board has already declared a halt to dividend payments in response to the news and will defer making further decisions until the full effects of the change are felt. The company has been working hard in recent years to diversify across markets so impact may be muted. TechFinancials is traded on the London Stock Exchange under the ticker symbol (TECH).

“The Company had prepared for such an event and has invested in a diversification strategy that commenced in 2020 to mitigate the effects of this. While the Company expects income in the first quarter of 2020 to be in line with management expectations, it is likely that this event will have an adverse impact for the rest of 2020, both on the Group’s income and on EBITDA.”

The exact details of the binary options industry are not know but 24Option is widely thought to be the largest broker in terms of market share. Their move to in-house their technology is not a new one although it is not common in the industry. Other top brokers including AnyOption and IQOption have long run on proprietary technology and it has suited them well. One benefit, as shown by AnyOption, is the ability to adapt more quickly to the needs and wants of traders, another is to develop new and interesting option choices that a white label broker would not be able to do.

Regulation may also have something to do with the decision. Regulators around the world are stepping up their game when it comes to controlling the market and holding brokers accountable. By taking control of their platform and payment processing 24Option removes a risk inherent with third-party services and enables themselves to adapt more quickly to change.

24Option is one of the oldest and most trusted brokers in the binary options industry. Founded in 2009 it has been leading in terms of trading, service and regulation the entire time. One of the first to become CySEC regulated the broker is now registered throughout the EU, operating under the MiFID and Financial Passport. While binary options is the primary product the broker also offers simplified forex, CFD and ladder style binary option trading. What the change means in terms of trading is simple, you get the same great trading as before, with a nicer cleaner look and new features.

24Options Reopens In France

AMF Lifting Restrictions, 24Option To Reopen In France

24Options, former flagship brand of TechFinancials, has been able to appease the French AMF and is now permitted to reopen operations in that country. This is a landmark event as the French AMF has been among the most active in working to prevent binary options frauds. Their permission comes after 10 months of inactivity and means 24Option has met their stringent requirements to actin the bast interest of French citizens who wish to trade binary options. The ban was due primarily to advertising and marketing practices that did not comply with MiFID regulations. The AMF stated in their release that 24Option could be cleared to operate in France as early as July 3rd.

This does not mean the AMF has backed down from its fight against non-regulated and fraudulent brokers. Far from it. The regulator has also just announced a warning against 5 new brokers that is has found operating and soliciting to French clients. The new additions to the black list are brands CBF Financial, Toro Next, Easygestions, 4U Groups, and Luxembourg Capital Finance all known to be unregulated and operating in a fashion unbecoming a trusted broker.

Regulators Keeping A Watchful Eye

The UK is also riding herd on the binary options and CFD trading industry. The FCA has permitted a number of brokers to operate in their country but also warns weekly against unauthorized and possible fraud brokers. This week the list includes AIG Options and CMC Options, two brokers using clone names to deliver unregulated financial services to British citizens. Among the complaints include not regulated, cloned names and unauthorized investment advice.

The Australian regulator finally cracked down on BinaryTilt. BinaryTilt is an unregulated and basically untrusted broker operating in Australia for some time. Last year after a few complaints BinaryTilt appeared to be making changes for the better but alas, no. This year ASIC decided to cut its losses and act in the best interest of Australians by issuing a warning and ban of the broker, stating that “might be running or involved in a scam operation”

TechFinancials Restructuring For The Future

As the binary options is shifting gears for the future so too are the big technology providers. The latest news revealed in a Financemagnates exclusive is Techfinancials plans to downsize and off-shore it’s operations. Headquartered now in Israel the company is planning to reduce the size of its workforce and move call centers and other operations in the likelihood a proposed ban on marketing binary options in Israel will pass. The law was introduced two weeks ago and has passed the first of three votes with no opposition.

The law is an extension of laws passed last year which forbid the marketing of binary options to Israelis by Israelis brokers and call centers. The new law will widen the scope to include a ban on marketing binary options to foreigners effectively shutting down the industry in Israel. Critics of the law are vocal and claim, rightly, that a full ban will unneccesarily kill jobs including high paying software development positions.

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Forex, Stock Market, Swing & Day Trading, Cryptocurrency Investment Trusted Blog by (Investing-News.net)

24Option Review – A Great Broker!

OFFICIAL SITE: www.24option.com

When it comes to trading, 24Option is one of the most highly trusted brokers out there. Whether it be for trading stocks, commodities, Forex, indices, or commodities, 24Option can do it all. Yes, there is a lot of concern out there about scam brokers, but this is certainly not one of them. We are here today doing this 24Option review to provide you with all of the information you need to get started with trading.

24Option Company Information

24Option is indeed a fully legit, licensed, and registered broker. There is nothing shady going on here. First off, this particular broker came into existence back in 2008, which means that it has been operational for over 10 years now. It is a good sign which indicates that it is the real deal. It certainly passes the test of longevity. As of 2020, this broker expanded its operational capacities and became a full Forex, stock, CFD, and commodities broker. In others words, with this broker, you can trade pretty much any kind of asset out there, which now even includes crypto.

The 24Option company is owned by Richfield Capital Limited, located at Unit 303, No. 16 Cor. Huston and Eyre Street, Blake Building, Belize City, Belize. It is authorized by regulated by the International Financial Services Commission of Belize with license number IFSC/60/440/TS/18.

If you were wondering about regulation, 24Option is regulated by a large amount of regulatory bodies. This includes CySEC, FMA, AFM, HELLENIC, BDF, BAFIN, the FCA, and more. The main point that we are making here is that 24Option is undoubtedly a totally legit and trustworthy company, one that has real headquarters and is indeed regulated by a plethora of regulatory agencies. This is the real deal, a trustworthy broker, not just another scam.

24Option & Trading Platforms

24Option used to use TechFinancials, a fairly popular trading platform, but this has changed recently. Scipio is now the main proprietary trading platform used here for Forex and CFD trading.

MetaTrader 4

Moreover, for any users who want to engage in many types of full time trading, the MetaTrader 4 Platform is also available for use, which is particularly good for Forex and CFD trading. MetaTrader 4 has some really advanced trading tools integrated into it, something which most can definitely appreciate. So, Scipio is really traditional and easy to use, wheresas MetaTrader 4 is a bit more complex, but it also comes with many more features and high caliber analysis tools.

Mobile Trading

Don’t worry guys, because 24Option can also be used on your mobile devices. You don’t have to be at your computer to use it. The 24Option broker has a totally free mobile trading app which works with both iOS and Android devices. The apps are specialized to work well on each operating system, they are easy to use, very slick, and fully responsive too. Sure, it might be harder to perform technical analysis on a really small screen, but the free 24Option mobile app helps make it as easy as possible.

24Option Account Levels

The 24Option broker comes with a total of 5 different account packages. These range from a basic account for beginners who are just getting into trading, all the way to a Diamond account for professionals that can’t get enough of Forex, stock, and CFD trading. Let’s take a look at the various customer account choices available to you here.

Basic

The basic account requires a minimum deposit of 250 GBP or EUR. Here you get access to the MT4 trading platform, the company’s web client platform, the mobile app, and 24/7 customer service. Here you get exotic currency pair spreads with pips as low as 7 with major currency pairs with pips as low as 3, plus spreads in minor currency pairs with pips as low as 4.

Silver

With the silver account, you get all of the features of the basic account, plus you also get trading alerts and a personal trading coach. The minimum deposit for the 24Option silver account is 2,000 GBP or EUR.

The 24Option Gold trading account comes with all of the features which you get with the silver account. Here you also get text and email trading alerts, plus you get an extra 2% return on every trade made. The minimum deposit for the gold account is 25,000 EUR or GBP.

Platinum

The platinum account comes with all of the features of the Gold account, plus you also get access to a research website for analysis, as well as a live training session. Here you get an addition 4% of returns on trades. The minimum deposit for the platinum account is 50,000 EUR or GBP.

Diamond

The diamond account is a bit of a mystery, because it is so high class, that there is no specified minimum deposit. You actually have to set up a 24Option diamond account with an account manager. Besides all of the features of the platinum account, you also get a customizable trading platform and free season tickets to Juventus FC football matches.

24Option Broker – Other Information

  • 24Option customer service is available 24/7 via live chat or email, plus it has telephone support in 12 countries.
  • The proprietary trading platform is available for use in 24 languages.
  • 24Option offers tons of different trading educational materials including live seminars, webinars, daily market news and updates, interactive Ebooks, and a couple of other educational resources too.

24Option Broker Review – Conclusion

When all is said and done, the 24Option broker is one of the most popular and reliable in the world. It has literally hundreds of thousands of satisfied users. It comes with a great trading platform, plus lots of awesome educational materials too. Here you can get an account which suits your level of expertise of trading the best. When it comes down to it, we have to say that this is probably the best broker for most of your trading needs.

CLICK HERE TO CHECK OUT 24OPTION

Thank you very much for reading this detailed review. Subscribe to our blog in order to be fully protected and to be up to date with all binary options services out there. Additionally please share and follow us on Facebook, Twitter, Google+ and Pinterest. See you next time!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

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