ZoneOptions acquires 24Option – more consolidation in binary options sector

ZoneOptions parent Rodeler Limited has acquired 24Option.

LeapRate Exclusive... LeapRate has learned that two regulated binary options brokers — ZoneOptions and 24Option — both operating under the TechFinancials platform have effectively merged, although it appears that both will continue to operate under separate brands and websites.

ZoneOptions‘ CySEC-licensed parent company, Rodeler Limited, has acquired 24Option and folded it under its regulatory umbrella. 24Option’s former owner, Cbay Financial Services Ltd, has decided to renounce its CIF license, effective December 9.

It appears as if the binary options sector, while still growing as a whole, is going through some growing pains as competition becomes intense among the ever-growing number of binary brokers out there. We also recently exclusively reported on the closure of iOption, one of the other few licensed binary brokers. And just yesterday we saw the suspension of Cedar Finance from its CIF license by CySEC, although if they rectify the situation that suspension may turn out to be temporary.

Frankly, while we expect more new binary options brokerages to open as the industry continue to expand — especially in the Far East — not all these new brokers will thrive or even survive. We expect to see more consolidation in the coming months.

We’ll continue to bring you exclusive coverage of the binary options sector as things develop. Stay tuned to LeapRate…

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.

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