Many have been predicting binary options end but the highly controversial trading product managers to survive considering the regulatory onslaught and it’s destroyed reputation. Now it looks as though all the negative impact on binary options are starting to take effect. Some companies are now moving to completely disassociating themselves from the term binary options and to rename the product.
Established Brokers Distance themselves From Binary Options
Recently IG markets one of the largest UK Forex Brokers that also offers binary options trading notified all their affiliates that they were renaming the products from binary options to Digital 100s. This indicates just how toxic the name binary options have become. IG felt strong enough that they wanted to disassociate themselves from the negative association of binary options while still being able to continue to offer this highly successful yet extremely controversial product. You can imagine that this was not a simple decision for IG to make. This would mean that they would need to change all their documentation and marketing materials to reflect the change.
Bad Brokers May hasten Binary Options End
In the coming months, it looks as though there will not only be regulatory changes with binary options but a split within the industry. There are those brokers that will continue to operate in a way that that further damages the reputation of binary options brokers. There are also those brokers that have been trying to offer binary options in a regulated and legitimate manner. These brokers will now be faced with the challenge of informing and educating the public that it is not binary options themselves that are bad but those brokers (mostly from Israel) that through fraud and deceit are responsible.
Hopefully, 2017 will not see the binary options end but an end to the brokers that have nearly destroyed and industry in such a short time.