LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
The marketing department at AvaTrade’s PowerOption has informed traders and affiliates that AvaTrade’s binary option brand PowerOption will cease to operate starting this week. With the immense competition within the sector this is not surprising – the retail spot FX and CFD trading oriented AvaTrade couldn’t dedicate enough of its resources to lift the binary brand, past the one year operating mark.
Moreover, on AvaTrade’s main website there was no promotion or connection to the binary platform, wishing to truly separate the two entities. One wonders if Ava would have leveraged the reputation and power of its brand better and supplied the product under this brand name it could have attracted more traders.
Just over a year ago, AvaTrade selected the MarketsPulse platform to power its binary options brand having found great synergy in its offering, with the closure of the brand being no reflection on the software itself.
Below you can find the official message sent out to clients of the firm:
“It is with great sadness that we announce that www.poweroption.com will be closing for business this month.
The site will officially close for registration and deposits on the 10th of December 2014.
Due to this please note that we are closing poweroption’s affiliate program, www.Powerbucks.com.
Any affiliate payment due will be made within the month.
We would like to take this opportunity to thank you for putting your trust in PowerOption and wish you successful deals in the future.”