This is a big news in the binary options industry : Banc De Binary has announced that the company would be closing because of “consistently negative press” coverage.
We’ve already written a review about Banc De Binary in the past, warning traders about them and it seems like we were right. Indeed, the main reason why Banc De Binary has decided to close down is because of its bad reputation and thousands of complaints from traders who have been scammed by this broker.
Banc De Binary finally surrendered its brokerage license with the Cyprus Securities and Exchange Commission (CySEC). This means that they are no longer allowed to legally trade in the European Union.
We also noticed that the company’s headquarters had been closed, the company’s name removed, and their building is now open for rental.
However, we remain skeptical about this announcement as Banc De Binary may just be relocating and changing its name in order to clear up their bad reputation. We will be watchful for the next weeks in order to find out if they re-open under a new name.