YoutradeFX Group Launches New Binary Options Brand After Sale of Forex Clientbase

It has just been discovered that the youtradeFX group has launched a new Australian binary options brand tonight. Earlier this evening the group's global websites suffered an outage for about three hours due to maintenance work on the servers that we now know was probably needed to launch the website of the new brand.

All online traffic to the Australian offshoot of the group (www.ytfx.com.au) is now directed to a new binary options brand called Woojoo Trader. According to the website of the firm, the new brokerage is regulated by the Australian Securities & Investments Commission (ASIC ASIC The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the Read this Term) and powered by the platform of leading binary developer, SpotOption.

The fact that the group is trying to launch another broker brand in Australia is a bit odd one might say, as only last month, Ava Capital Markets Australia acquired the Australian client book of youtradeFX. According to the terms of the deal, youtradeFX clients under the broker’s Australian Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term were assumed by AvaTrade. As part of the transfer, former ytfx customers have gained access to trading with AvaTrade’s wider selection of platforms, including AvaTrade's binary options with which new WoojooTrader brand is now in direct competition. One wonders if AvaTrade did not include a clause in the deal preventing future competition regarding clients. At the time, youtradeFX presented the deal as part of consolidation efforts around its Cyprus license, which seems unlikely right now.