Vantage FX, an ASIC-regulated forex, CFD and binary options broker based in Sydney, announced it is terminating the offering of binary options trading, effective immediately.
According to the company statement, the main reasons for the management decision are the “recent global regulatory tightening and ever increasing hostile media views around binary options” and the negatives far outweighing the positives for Vantage FX.
Instead, now the broker will turn its full attention to its ECN offering of forex, commodities and indices trading on MT4 and encourages its former binary options clients to seamlessly transition to those instruments.
“We always used binary options as a no-fuss market that new traders would start learning through and then transition to forex as they grew”, said David Bily – Director of Sales and Marketing at Vantage FX.
Vantage FX is based in Sydney and is regulated by the Australian Securities and Investments Commission (ASIC). Its customers can trade on all versions of the MT4 platform and automated trading through Myfxbook. There are also MAM/PAMM accounts and a 30-day free demo account. The minimum deposit is $100 and the maximum leverage is 1:500.
Vantage FX is one of the several brokers that have abandoned binary options in recent times. So far the news was predominantly about binary options brokers like 24option and Anyoption who decided to shut down their binary options business and start offering forex and CFD instruments instead.