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A Surprise Disbelief – Banc De Binary closed down business

Banc De Binary’s announcement to close down binary options business came as a bolt from the blue.

The year 2017 brought out shocking news to the Binary Options Industry at the very 1st month of the New Year. Binary Trading Global received a SKYPE message to begin with from a company official to update our news that the Binary Options giant has decided to leave business for good. It was a surprise and we couldn’t believe however we wanted to get more info on why!!

Our R&D team has come up with their findings that Banc De Binary decided to close down due to continuous negative impact in the year 2016. Banc De Binary is not an ordinary binary options broker they are CySEC – regulated broker and were just getting good trade volume in the last 2 years.

Banc De Binary was concerned over their tarnished reputation they just got stuck in a rumble and just couldn’t come out of it. They never moved forward to repair or rectify their flaws they just got stuck and there is a famous saying “A rolling stone gather no moss” which means moving around could have cleaned up all the mess they got into; but they just got crushed by earning a bad name amongst traders. They could’ve come out of the situation but the owners of the brand felt it is not worth running a business with poor reputation and decide to close operations.

Apart from tarnished reputation they also had encountered many hitches with the authorities and regulators. The Binary Broker was under scrutiny for a while by investigators, watchdogs and many private agencies and many trader complaints were raised from the United States which brought the broker close to the regulators. Huge fines were slapped on the binary options giant starting with a fine of $11 million to the US authorities for targeting US traders providing false information. The Binary Broker tried to amend its flaws however its efforts didn’t pass muster among authorities and regulators. Commodities Futures Trading Commission (CFTC) slapped Banc De Binary with a penalty close to $150,000, whereas CySEC slapped a fine close $450,000. Who would continue to do business when they have been constantly monitored by watchdogs, regulators and investigators and to strengthen their plight reputation among traders have also diminished this finally forced Mr. Oren Laurent, the founder of Banc De Binary to bring down the curtains for this giant binary broker. You can get some more information on Banc De Binary Reviews

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