MarketsWorld was involved in the binary options industry since the start and was highly regulated in the British Isles prior to trading thus transparency for our customers is assured
Douglas, Isle of Man (PRWEB UK) 15 November 2013
As the cards begin to fall and a binary options company based in Cyprus, ioption aka ioption.com reportedly went bankrupt, leaving its customers to await the return of their deposits (first reported here: http://www.dailyforex.com/forex-figures/binary-options-2/ioption-closes/1319). As binary options are still relatively new, the industry has unfortunately struggled with its reputation due to some dubious operations who have taken advantage of little to no regulation. Unfair tactics include locking in deposits of clients taking a “bonus” and then restricting their withdrawals, calling clients to tell them to deposit more money or to make a trade in a clear conflict of interest, or worse still refusing withdrawals for clients who have successfully traded. These very same operators, who operated with no regulation, now are "regulated" but when it comes to certain jurisdictions, you have to look at the quality of the regulator itself.
Certain binary options brokers push their clients to keep a large amount on deposit with them to receive a "VIP" service; implying that those with less money in the hands of the company will receive bad service. This is ever the more shocking now that ioption, the prominent Cyprus-run company has reportedly closed and the funds on deposit may take time and effort to be returned to the customers at best, or might never be returned at worst. MarketsWorld is keen to address any concerns and help provide clarity in what has become a needlessly complicated industry.
Not all binary options companies are created equal. This improper behaviour is something MarketsWorld is keen to have removed from the binary options industry altogether. British based MarketsWorld which began trading in 2011 was arguably the first binary options company to be regulated and licensed at all and chose to be regulated from the Isle of Man, in the heart of the British Isles.
Online traders have evidently preferred to trade binaries with British based and British regulated binary options companies such as MarketsWorld to avoid the pitfalls and uncertainty of dealing with any of the dubious consortium of binary options companies based out in Cyprus. Unfortunately this is not the first time CySec has been under the spotlight with Cypriot binary companies having landed themselves in trouble before the courts in the USA, Italy and elsewhere. This most recent closure is sure to have an impact on the industry.
However, away from the hubbub, MarketsWorld has been quietly building on its strong and unblemished reputation for absolute fairness and transparency.
Bruce MacLean is a senior manager at MarketsWorld and comments: “MarketsWorld was involved in the binary options industry since the start and it has been incredibly exciting, but the industry has been blighted over the years by underhanded tactics from certain binary brokers who have taken advantage of not being regulated or being loosely regulated and who seem to do as they please. MarketsWorld was highly regulated in the British Isles from the beginning so that transparency for our customers is assured and we believe this is a fundamental requirement for a businesses now operating within this industry."
As the sector matures, more controls and regulations will no doubt be introduced and this homogenisation will provide an environment where traders can clearly see the differences between the brokers from the start and make an informed decision as to where they want to trade, without being sucked in by false advertising or unfair tactics. MacLean continues "Being British operated means MarketsWorld is at the top of the tree when it comes to regulation and transparency, however I would always recommend traders shop around. Traders need to know the background behind the regulation and the protections they offer. For instance, MarketsWorld operates in the Isle of Man, British Isles and is strictly regulated by our GSC; this ensures we operate with segregated accounts which guarantees total financial protection for our customers. Can the same be said for other jurisdictions? I don’t know."
The recent closure means that those traders who had deposits are unlikely to get their funds back; unfortunately this happened with Full Tilt Poker a few years ago. It is worthy of noting that this has never happened with an Isle of Man based company in the British Isles. This comes down to the requirement of on-shore segregated accounts which are untouchable by the company. This explains why MarketsWorld always processes withdrawals on the same day, because they have the cash on hand no matter what. If deposits are not repaid it will be interesting to see if the directors of these businesses are pursued legally? This certainly would be the result in Great Britain or the USA if customer cashouts could not be paid and would ordinarily result in criminal prosecution. Traders have taken notice of this fact and are flocking to MarketsWorld. Whether it be as a result of MarketsWorld's immediate cashout withdrawal processing, their providing the highest payouts or the free demo accounts allowing you to "try before you buy" MarketsWorld is quietly standing out from the field. This is exactly what you would expect from a British regulated company. We asked MacLean whether the surge in MarketsWorld's popularity is solely due to the public recognizing the superior protections involved with a British regulated operation compared with Cyprus or further afield.
MacLean: "This is certainly an important selling point however lots of our customers may not even appreciate the protection they get, they just know that their withdrawals are processed immediately and appreciate our first class customer service we provide all of our customers, not just the ones depositing in the tens of thousands. We never restrict withdrawals and our bonuses are not a cheat like with so many others. We also provide a completely unrestricted demo account providing traders the same experience of what it is like trading on our platform for real money. We are also very proud to have been recognized for having the highest payouts in the industry which binary traders rightly view as quite important."
The question remains whether any other binary platforms will fold and start a domino effect leaving a wider swathe of out of pocket depositors? It would seem Binary Options are here to stay and MarketsWorld are striving to be number 1 and being licensed and regulated from the British Isles reinforces the security of trader's accounts held by British companies.
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