Brokers News

IG Group renames binary options to “Digital 100s”

Jan 12 2017 10:44:34 GMT
By
Jonathan Smith , Find me on Google+

 IG Group, one of Europe's largest forex, CFD and spread betting (UK only) brokers has rebranded its binary options products and now calls them “Digital 100s”.

 
In essence, the Digital 100s are the same product and let clients place binary bets on volatility by answering a yes/no question.  
 
They include the One touch, Ladder, Tunnel, Target, Hi-Lo and Up/Down types and have time frames from five minutes to a month. Clients can guess on movements of a whole set of assets: forex, commodities, indices and some economic news like US jobless claims and US non-farm payroll. Last year IG ventured into some political events binary options and offered betting on the outcome of the Brexit vote and the US presidential election.
 
IG Group was established more than 40 years ago and was the first financial services provider in the UK to launch spread betting. It also offers trading in forex, CFDs, stocks, bonds and cryptocurrencies like Bitcoin. 
 
IG is regulated by UK’s Financial Conduct Authority (FCA), but its subsidiaries are also regulated by the relevant authorities in the countries where they operate (Australia, Japan, South Africa, UAE and Singapore). Besides, IG is listed on the LSE, and is a member of the FTSE 250.  
 
Earlier on Thursday IG's US binary options exchange Nadex reported its December trading volumes set an all-time high.
 
IG's move to rename the binary options is understandable, considering that binary options are getting increasingly bad reputation both among clients and regulators, with the latter undertaking measures to curb the advertising or offering altogether of binary options. 
 
Even though those measures are mostly not yet implemented and are still in the discussion stages, their effect is already felt.
 
Earlier this week the largest and oldest regulated binary options broker Banc De Binary renounced its Cyprus license and closed up shop, leaving the industry experts speculating what its next move would be. According to sources from within the company, the main reason for the decision was the growing bad reputation surrounding Banc De Binary in 2016, but our guess is that the more likely reason are the hefty sums it had to pay in settlement - €350,000 to CySEC and $11 million to CFTC.
 
TAGS: ig  ig group  binary options  digital 100s 
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
US, UK, Australia CFTC/NFA, FCA, ASIC MT4, Web,
Mirror Trader,
Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA MT4, Web,
ProRealTime,
2Dealer
$1 Review Website
UK, Cyprus FCA, CySec MT4 $5 Review Website
UK, Cyprus FCA, CySEC MT4, MT5, Web,
cTrader,
SuperTrader,
FxPro Markets
$100 Review Website
Seychelles FinaCom MT4 $10 Review Website
UK, Bulgaria FCA, FSC Web $150 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website

More Forex Brokers News

Admiral Markets amends margin requirements

Jan 19 2017 14:59:35

Admiral Markets, a European forex and CFD broker, said it is amending the margin requirements on the instruments it offers on some of the live trading accounts.    According to the broker, the changes will apply to all positions opened on Admiral.Markets and Admiral. Read more

eToro takes ETFs to a next level of Copy Trading

Jan 18 2017 15:20:51

Innovative forex broker and social trading network eToro launched a new investment service called CopyFunds, which takes exchange-traded funds (ETFs) to a whole new level.   ETFs allow traders to invest in a whole sector or market trend, not just in one company or commodity. Read more

XM is only forex broker in World Finance 100 2016 list

Jan 18 2017 12:47:05

XM, a European forex broker regulated by UK's FCA and the Cyprus Securities and Exchange Commission (CySEC), said it has been included in the World Finance 100 list for 2016. Read more

Interactive Brokers’ income before taxes increases by 66.2% in 2016

Jan 18 2017 08:39:23

Multi-asset automated brokerage Interactive Brokers (NASDAQ GS: IBKR) announced key financial and trading metrics for 2016 on Tuesday.  Leading US broker and a market maker reported its income before taxes for 2016 came in at $761 million, which is a growth of 66.2% compared to 2015. Read more

Swissquote’s social network Pulse now available on iOS devices

Jan 17 2017 15:06:27

A bank, a major FX and CFD brokerage, as well as a fintech pioneer, Swissquote announced that its recently launched social network, called Pulse, is now available on iOS devices. Read more

Morgan Stanley raises its stake in Plus500

Jan 16 2017 15:31:23

Morgan Stanley, the US multinational financial company who is among the major stakeholders in the London Stock Exchange (LSE)-traded forex broker Plus500 (LON:PLUS) has raised its stake in the company to pass the 6% threshold. Read more

IG urges its clients to take a stand with regards to FCA’s proposals

Jan 13 2017 08:36:04

Major brokerage IG Group (LON:IGG) encourages its clients to share their opinions about the recent proposal from the Financial Conduct Authority (FCA) to raise margin requirements for CFDs and spread betting, among other things. Read more

FXCM sees December, Q4 2016, annual trading volumes fall

Jan 12 2017 14:31:39

FXCM, the leading US forex brokerage saw a double-digit decline in its December retail and institutional trading volumes both on a monthly and annual basis, show the officially released company metrics. Read more

It's official: Banc De Binary renounces Cyprus license

Jan 11 2017 12:43:49

 Banc De Binary, the largest and oldest regulated binary options broker has renounced its Cyprus license, several days after the first reports that it is planning to shutter its business and has stopped taking clients from the EU. Read more

Forex.com’s trading volumes drop by double digits in December

Jan 10 2017 15:17:56

According to the monthly metrics, provided on Gain Capital’s website, the over-the-counter (OTC) trading volume of its retail brand Forex.com dropped to $189.1 billion. The figure represents a decrease of 26.4% from previous month, and a drop by 33. Read more