News: iOption shuts down – Binary Option Broker closes the door

The following is the sad news taken today from the iOption website that iOption shuts down:

iOption Binary Option Online Broker Closes The Door

PUBLISHED NOVEMBER 8, 2013 On Friday, November 08, 2013 around mid-day senior management of iOption announced to their employees that the company had folded and would be closing the Binary Options Broker immediately. Payroll for the month of October 2013 was due to be paid on Friday. The staff was told that they could return on Sunday at 11am and a legal representative from the owners would be available to answer questions. Employee emails were immediately blocked along with access to their other workplace programs. Employees who were not present on Friday have not been contacted and there has been no other official communication from the management at iOption.

Beginning in early October, problems started to arise as trader’s withdrawals were not being processed and a long list started to grow. Service providers, marketing and affiliate agencies were not paid. As funds came in iOption determine who they would pay. Business started to slow and more problems arose. The staff was informed that the company was up for sale and that a deal would be struck within days and that things would improve shortly.

The CEO and the VP of Sales personally guaranteed staff members that their salaries for the month of October were safe and would be paid. As October rolled into November, things did not improve and there was a parade of possible suitors. At this time on Friday evening, the website remains active and there are no notices to traders or account holders. We will try to keep traders, vendors and employees up to date with any information as it becomes available.“ 

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I am an experienced Binary Options trader for more than 10 years. Mainly, I trade 60 second-trades at a very high hit rate.

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