24Option Announces Plan to Drop and Stop Accepting Traders From the UK and Most Other Countries Internationally
In a recent announcement to their affiliate partners, 24Option.com has stated that 24Option UK is no more. And that’s just the beginning. Shocking for a firm that until just recently advertised themselves as the #1 UK broker (which was actually true) they intend to drop (and stop accepting, of course) clients from nearly all GEOs worldwide! This is a very unfortunate development as 24Option has been among the most solid and trustworthy brokers in the business since their original launch way back in 2009. I still remember the good ‘ol days when they accepted US clients like ourselves. Well, those days are long gone. Not just for 24Option, but for most of the more established and popular binary options brokers who accepted US traders. But this isn’t about the US market. This is about the UK binary options market and others internationally who benefited from 24option’s great service. It’s a sad day for a lot of people.
When 24Option exited the US market and became regulated by the CySEC, they then restricted their marketing and client base to the UK, SA, and most European countries. Now not even that will be the case. From what we were able to gather, 24Option will now only be accepting clients from 4 countries! Just 4! Those countries would now supposedly be: Denmark, Italy, Mexico, and Poland. We’re not clear on why exactly they have chosen to serve just these four markets, but there you have it, those are the few lucky countries whose citizens can still benefit from the 24option.com trading platform and longstanding, reliable customer service and unquestioned reputation for honest dealing. A very unfortunate development for UK binary options traders.
We have been big fans of 24Option practically since we discovered binary options trading in 2009. We remain fans today. However, it’s very unfortunate that they have chosen to drop more and more countries and their traders from their service. Sure, I understand some of the “grey area” regulatory conflicts which may exist for them by operating in these countries.. However, there is NOTHING in their CySEC regulations that force them to limit themselves to such a few countries. Indeed, other than”US Only” brands, we know of no other brand in the world that accepts clients from so few countries. This will no doubt take 24Option’s already steeply declining market share and turn it into something hardly worth mentioning or promoting. This makes us sad because we loved promoting 24Option to our visitors, knowing that they would be treated well and fairly. Now, even if we do choose to take up valuable “real estate” with a broker who will hardly accept anyone as a client, it’s highly doubtful that they will receive any referrals from us or sites like ours. Indeed, I predict a rather rapid and eventually fatal decline for 24Option. One more example of a great broker ruined by incompetent management. An all too common occurrence in this industry. For UK and most EU clients especially we would recommend either: 1) BinaryMate, 2) PlusOption, 3) MarketsWorld, 4) FimMaxBO, 5) Stockpair (Stockpair is a Unique and Proprietary Platform of Specialized Pair Options Trading as well as Standard Binary Options Trading,. With a VERY Large Selection of Assets.)
If you came here as a US trader still under the hope or illusion that 24Option could be a choice for you, well, we’re sorry to burst your bubble, but join the club. Ad for your best alternatives for brokers accepting US clients, we have been religiously keeping up-to-date our “Best Us Binary Options Brokers” page as the industry just continues to change at a rapid pace. Those of us who are US binary options trading enthusiasts may have it a bit rough these days as far as our options go and competition in the market, but there are still a few good choice out there thankfully. We hope that not only remains the case, but that regulators get their acts together and we start to see the situation reverse, with more brokers entering and competing in the US and UK markets. As any good capitalist knows, competition is good for the consumer.
We were sad to hear that 24Option has decided to close its doors to an even wider swath of the international population. We believe in making binary options trading MORE accessible, not less so. Although we understand some of the regulatory and political binds that they find themselves in, unfortunately. Luckily for (most of) the international binary options trading community, you are still in fairly good hands (provided a little caution is exercised). There are still dozens of competent and trustworthy brokers out there competing in the international market for most prospective traders to choose from. Though some markets do remain under-served. Brokers like BinaryCent, among others, are attempting to at least partially address that issue by lowering barriers to entry by requiring a very low initial investment and, as the name implies, minimum trade sizes of mere dimes (with a $0.10 minimum investment). When all is said and done, many countries/markets/traders lost a great broker in 24Option today, with a great history of outstanding customer service, platform reliability, and company integrity. We are admittedly a tad jealous of our friends in these four remaining countries served. We were big fans of 24Option when they served the US market and they are where we kept our personal trading account at for nearly two years, until they sadly “closed their doors” to US traders. Now our friends in the UK and elsewhere are feeling our pain.