Is binary options better than forex factory
IG Group is a UK-based company providing trading in financial derivatives such as contracts for difference and financial spread betting and, as of 2014, stockbroking to retail traders. In July 2002, IG Group commenced trading in Australia after a change in the country’s financial services legislation made it possible is binary options better than forex factory offer contracts for difference to Australian residents. In October 2008, IG Group acquired FXOnline Japan KK, a Japanese retail FX business.
In June 2011, IG Markets shut down its traditional fixed-odds sports service extrabet, which had an emphasis on in-play betting. The fixed odds sport service was shut down to focus on financial wagers, after failing to find a buyer for the whole unit. In September 2014, the company started its own online stockbroking platform offering prices on some 4,500 stocks. In January 2015, the Swiss National Bank announced that it would be discontinuing its minimum exchange rate policy. They accused the company of breaching UK regulations by acting out of self-interest and alleged a failure by company to provide the best execution to everyone. Peter Hetherington was appointed CEO in December 2015 when Tim Howkins retired after nine years in charge. In December 2016, the FCA questioned whether binary bets “serve a genuine investment need” and defined them as more akin to gambling.
Aside from most consumers losing money, the FCA’s other concerns included the addictive nature of binary options betting, and inherent conflicts of interest. In January 2017, IG group announced their decision on withdrawal of the binary options betting product, admitting that the arrival of the regulator to the market would significantly worsen the company’s state of affairs. The director of IG corporate affairs stated: “I think that product will come under regulatory pressure in the future. In October 2018, IG Group appointed June Felix as CEO. In 2012, IG Group consolidated its business in the UK under one brand, IG.