Binary Brokers Close
It’s always interesting to go back through the list of brokers we haven’t visited for a while. Some have made drastic improvements to their sites. Others look the same with nothing noticeably different. Then there are some who just straight up don’t even exist anymore.
A little mid week research led to a check in on EZ Binary for example. We typed in their domain name and like magic, we were met with a “This Page Does Not Exist” error message. We dug a little deeper and sure enough, EZ Binary is no more.
This comes about a month after iOption made headlines with their announcement that the holding company who owned the long-standing brand had decided to fold up shop. Employees were laid off, partners were not paid and the entire brand just crumbled shortly after. Interestingly enough, their site still remains active without any warning given to prospective clients. The only thing that would give off some indication of an issue is the fact that their live chat function no longer works and brings up and account closed error. Clearly another unpaid bill on their part.
Fortunately, we took a screen shot of that message and posted it on their review page for all to see.
When binary brokers close, it can leave the traders at the mercy of a foreign entity in control of their accounts. iOption was one of the largest so we can only imagine the number of traders who are still trying to get a hold of the company. It just goes to show that you need to do your research and trust your gut. When it comes to the brokers, the ones who have been around for years are very likely the most reliable and stable. It’s the no name brands that should raise flags.
The brokers on our site who have managed to maintain solid business practices and show signs of growing stability are the big names. We have listed them below and believe them to be, based on our research, the most reliable choices in the industry.
uBinary - Has been around for four years and have consistently improved their product, expanded to new markets and most importantly, there are very few complaints about them online. Forums can be a great place to find information as you are hearing directly from the traders and not the marketing department of those companies, trying to win you over with fancy promotions and graphics.
PowerOption – Is a newer broker but they are owned and operated by Ava Trade who is one of the largest FOREX brokers in the world. That tells us they have the capital, business smarts and resources to operate in the arena and succeed.
StockPair – StockPair to us has always come off as the most professional broker. They don’t play into the hype of the get rich quick scheme that so many brokers these days focus on. Their platform was always set up in a way that was simple to use and their customer support are some of the most readily available and honest you will find. That, and they have been around for years, consistently expanding and getting their name out there.