Binary options brokerage TopOption has commenced a restructuring procedure, finance news media Forex Magnates reported on the Russian-language version of its website. The broker has informed some of its affiliate partners that it is suspending cooperation with them as part of the ongoing changes.
Earlier this week, the company sent out statements to partners, in which it asked them to suspend any active ad campaigns or banners relevant to the TopOpton brand, giving them a period of 48 hours to do so.
The broker assured partners it will continue to process outstanding payments, but new requests concerning the TopOption brand will not be taken over, starting 22 January.
TopOption aims to cut ties with unfair partners that use misleading advertising to attract clients and maintains business, using “Get Rich Quick” tactics, the media cited company representatives as saying in response to an enquiry. The broker does not plan any additional optimizations and changes.
TopOption was acquired in H2 2016 by Leadtrade, an entity that holds a license by the Cyprus Securities and Exchange Commission (CySEC) and that also operates several other binary options websites – www.leadtradeltd.com, www.optionsclick.com, www.prestigeoption.com, www.excellenceoption.com, and www.platiniumoption.com. Leadtrade is also also registered with several other EU authorities, including UK’s FCA and Germany’s BaFin.