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Finance Magnates Telegram Channel Online brokerage company 24option is preparing to leave the binary options industry. The company will stop accepting deposits from new traders residing in the European Union from this week.

The limitation will include new clients from the rest of the world from next week.

The changes are signaling a major shift for the operations of 24option, which is preparing to focus solely on expanding its forex and CFDs offerings. For the time being, the brokerage will continue accepting new deposits from existing clients keen on trading binary options.

Exclusive: 24option Leaves Binary Options Market, Focuses on FX and CFDs

The move represents a strategic shift for the company that is entering a competitive market place with a number of well established players in the industry.

At the time, the firm announced that it is on-boarding Alpesh Patel as brand ambassador.

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Mr Patel is a renowned analyst and former columnist at the Financial Times and Bloomberg. The company has recently outlined that it is focusing additional resources on compliance and its updated registration process will prevent clients with inadequate knowledge and experience from trading.

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It includes a buy and a sell button, the amount of risk per every pip of price movement 24option binary option stop loss and take profit fields. Share this article.

Accepted Countries 24Option were created in In the past, the main product offered has been binary options.