Russian AMarkets Formely Known as AForex Ditches Binary Options

After launching a new mobile platform version of its binary options service at the end of last week, Russian brokerage AMarkets has announced that it will be closing the access to the product for new traders. Existing clients will be able to continue their trading without interruption for the time being.

According to a representative of AMarkets, “Existing Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term traders are not expressing any interest in trading binary options, which can not be an alternative to traditional forex trading.”

Existing forex traders are not expressing any interest in trading binary options

This marks less than a year since the launch of the product after the brokerage announced the availability of the product in October 2014. AMarkets has been using a solution provided by BinaryStation where the broker gains access to a set of Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term tools.

In April this year, the brokerage launched an application for trading on Android devices, whilst only last week it announced the deployment of a mobile solution for Apple’s iOS.

Finance Magnates' reporters have contacted the firm for some clarifications on the matter and a representative confirmed, “Existing market mechanisms for hedging risks on binary options are still underdeveloped. This has an impact on the trading conditions offered to clients and as an effect on the final result from trading.”

“Consequently, binary options are not fully in sync with our company’s mission statement - to increase client profitability and to provide the best trading conditions,” the AMarkets' representative explained.

The binary options offering for the company has been deemed an “experiment”, which confirmed that forex traders have not expressed any material interest in trading binaries.