24option: divorce or not? Fines
- Official site of the broker: www.24option.com,
- Minimum deposit: $ 200,
- Minimum bid: $ 24.
Well, dear friends, today we have solid “scandals, intrigues, investigations” in the program, as they say. Until the debate on the network about whether the broker is 24option (not to be confused with 24optionE) by divorce or not, CySEC also expressed its opinion. How? He fined the broker 156,000 euros.
Let me remind you that Saysek is one of the largest regulators of the BO market. In general, last year CySEC suspiciously activated, apparently remembered that it is the regulator of brokers. As a result, at the end of 2015, bullets flew out of the machine, that is, fines of a whole "mighty heap" of brokers:
- WGM Services Ltd (brands EZTrader, EZInvest and Global Option) - 340 thousand euros;
- Pegase Capital Ltd (brands InteractiveOption, HelloBrokers and MTX Plus) - 300 thousand euros;
- Reliantco Investments Ltd (brands UFX and UFXMarkets) - 123 thousand euros.
So in 2016, Saysek continued his atrocities. This time, the regulator was dissatisfied with the work of 24option and Banc de Binary brokers. One of the largest fines in the entire history of the regulator was issued:
- The notorious broker Banc de Binary received his carrot in the form of a fine of 350 thousand euros;
- Well, the Rodeler LTD holding (which actually owns the very popular brokers 24 Option, GrandOption, QuickOption) got off with an amount of 156,000 euros.
Personally, this fact only pleases me. After all, fines of 25-50 thousand were previously written out, which, in my opinion, looked like an official indulgence. Well, what kind of money is this for brokers whose monthly turnover is hundreds of thousands of dollars? Laughter, and nothing more. But the sum of 300,000 is already a serious bell, so close to a million. I believe that the more fines, the better, maybe they will think next time. In any case, cheating costs binary options brokers more and more.
It is not clear what CySEC has been waiting for all this time. Indeed, even beginners know that the same Banc de Binary does not withdraw not only profit, but also deposits. But the broker, as I wrote last week, summing up the results of the year, suddenly leaves the Russian-speaking market. But with a review about 24option a separate story, let's talk separately about the divorce in this broker.
24option divorce or not - broker reviews
In my opinion, this broker deserves a separate discussion. Just a couple of years ago, this broker was a market leader, I traded in it on an ongoing basis and was very pleased. True, then I also traded in Eniopshen, which now turned into an old shoe that no one needed. I even wrote a positive review, because I was sure that 24option was not involved in divorce. But time flies inexorably. To date, my review is no longer relevant. For more than a year now I have not been trading in this broker, because of course, it has deteriorated catastrophically. Very frequent and strong requotes, managers who help to "get rid" of money on deposit. Yes, you yourself can follow the comments of the last 2 years on the review about the broker to track changes in opinions, a 24option divorce or not.
Friends, I never tire of repeating that binary options brokers do not "spoil" overnight, as a rule, this is a very lengthy process that can be tracked in advance. On this subject, I even made a special memo. As for 24option, I can say that at first I was very annoyed by the endless stream of broker advertising that began a year and a half ago. Active advertising is generally a bad sign.
Then I began to follow the quotes, the result, as you know, was not very pleasing to me. But that was then. Now the stories from traders who are “lucky” to trade in this broker horrify me more and more each time. Firstly, the 24 option, apparently, was haunted by the fame of the notorious OptionRally, so they launched an active policy of analytic managers. Again, again, analysts, in principle, do not trade with traders, it is forbidden to them and that's it.
So in 24option these same “analysts” (who are not at all from the word of the analyst) very successfully help novice traders. That's just successful exclusively for the binary options broker. Traders merge their deposits on the advice of managers, and the support service prefers not to respond to fines. The most unpleasant thing about this is that beginners, merging in such excellent brokers like 24option, begin to consider the whole sphere a scam and a scam. But back to our rams, let's see what the 24option broker was fined for:
- Unfair advertising on the Internet;
- Ignoring customer complaints, refusal to process them;
- Deliberate misleading of traders;
- Unfair assistance to clients in trading (the broker is forbidden to give out trading signals for binary options, especially notorious failures).
In general, everything immediately falls into place, right? Further and discuss whether 24option is engaged in a divorce or not, somehow it is no longer required. Okay reviews, okay discussions, but the reasons for the fine of 156,000 euros speak for themselves.
Well what can I say, lately it has become increasingly difficult to find an adequate broker. But this does not mean that it is impossible. The main thing is to always keep abreast and monitor the changes that occur in the broker. There was also hope for regulators (which did not exist before). Since licenses, in general, are not very strong, it’s an indicator of the broker’s reliability. But now CySEC is stirring, let's see, maybe we are waiting for qualitative changes. What I personally really hope for. Let me remind you that each trader can file a complaint with a broker:
- Complaints at CySEC,
- Complaints to the CROFR.
I also recommend that everyone familiarize themselves with the rating of binary options brokers and, of course, vote for those brokers in which you were able to trade.
Be careful, 24 openings are now actively involved in various scam. At the moment, this is the Golden Age and Money of the Century.