iOption, which is one of the largest Binary Options Brokers, has announced to employees that they are closing their doors and ceasing operations immediately. The announcement came suddenly this past Friday afternoon when senior management gave their employees the news. Payroll for October was due to be paid Friday and the employees were told to come in Sunday where legal representatives were to advise them. No official announcement was given by the company and employees no present on Friday were not immediately notified.
We had been hearing rumors of late that iOption was in negotiations one another large broker regarding a buyout. Several other small brokers had closed or been consolidated with larger brokers in recent months, but this seems to be first of the larger, more established brokers to go under.
The company had been having difficulties paying withdrawals to customers and affiliate payments already in October. Even so, the news has come as quite a surprise to others in the industry as well as company employees. As of today the iOption platform continues to operate as usual and no notice has been given to customers.
If you currently have an account at iOption we recommend that you cease trading and request a withdrawal as soon as possible and Contact Us Right away as we are helping iOption traders. If this information is confirmed the company will probably pay withdrawals on a first come first serve basis.
Update 11 November: There are talks about a bailout for Ioption that will payout all existing traders. This is being negotiated at the moment. Enter your email address below for the latest developments as they happen.
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