The world of binary options has significantly changed recently with innovations coming one after the other. A few days back (on August 4th 2017), the broker IQ Option announced the end of trading its classic binary options.
Don’t worry though. Despite of this decision, trading of binary options as such with IQ Option is still possible.
The announced decision only applies to IQ Option’s in-house product called “classic binary options.” In fact, this type of options was something between forex trading and ladder options. The termination does not impact the trading of standard high-low options, we all know.
What is behind this?
I think that I know the reason for such a change. As we informed you a few weeks ago (see this article), plenty of brokers allowing trading of options had smoothly migrated to forex. Perhaps, they see it as a more lucrative business. IQ Option is no exception. Its platform has been offering Forex trading for some time already. Also, IQ Option has developed a mobile application fully dedicated to this type of trading.
Since classic options à la IQ Options were a kind of an emulation of forex trading, there was no need to keep this type of options as a burden on the platform. The platform is too complex already hardly manageable with old and slow PCs.
Currently, new positions on classical options cannot be purchased, this tool is closed for users. […] the volume of trade on this instrument was no more than 0.1% on average in the system.
Resource: IQ Option’s official statement
We will see what next changes will appear in this business. I would personally appreciate if at least IQ Option retained the binary options. Unlike 24option, or banc de binary – big brokers who closed down the business.
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