LeapRate Exclusive… LeapRate has learned that once-regulated binary options broker Cedar Finance has shut down its operations. The Cedar Finance website at www.cedarfinance.com is now down as well.
Each of Cedar, Regal, and Brokerage Capital were operating brands of TBSF Best Strategy Finance Ltd. Via TBSF, Cedar Finance was one of the first binary options brokers to become ‘regulated’, receiving a CySEC CIF license in September 2013. However Cedar’s tenure as a licensed entity did not last long. Just three months later, in December 2013, TSBF’s license was suspended by CySEC for some very vague-sounding reasons. The license was fully revoked in July 2014.
Cedar made something of a comeback with CySEC under a different regulated holding company, P.M. Investment Capital Limited, however P.M.’s license was also revoked in July 2015.
Apparently Cedar Finance clients were given no warning of the company going offline, and are now scrambling to somehow get their money back.
Each of the firms in question ran on the TRADOLOGIC binary options platform. We understand that in its regulated heyday Cedar and Regal accounted for a decent part of TRADOLOGIC’s business, but that figure has come down markedly as Cedar and Regal’s business slowed after the initial run-in with CySEC. More recently, TRADOLOGIC has been focusing on building its business with online gaming companies looking to add financial / binary options trading to their arsenal.