Fidelisco has just revealed to Finance Magnates that it purchased the binary options site, 365Trading.com, bringing it under Cyprus financial regulations. The Cypriot binary broker bought the domain from its previous owner, Old Dutch Trading, a company based in Barcelona, Spain.
365Trading is an online binary options site using its own proprietary binary options software and therefore not dependent on the big software companies. The site’s primary language is English, but also supports German, Dutch, French and Portuguese. As a relatively new domain, the acquiring firm sees a lot of potential to expand the business on the site.
Operating since 2013, Fidelisco Capital Markets Ltd (Fidelisco) is authorized and regulated by Cyprus Securities and Exchange Commission (CySEC). The company has mainly focused up until now on physical terminals offering binary options, therefore this move marks a change towards refocusing on the online binary options market.
Fidelisco explained that it chose to buy the brand because it had developed its own trading platform. The company plans to keep that proprietary platform, to expand on it and not replace it with a white label platform.
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The new 365Trading management says its plan going forward is to mainly target the European market with the CySEC license allowing passporting within the European Union, Germany, Netherlands, Scandinavia and others.
The firm plans to increase spending on marketing in order to expand the activities the site has been able to achieve so far. Fidelisco might also be planning on acquiring more online brands in the near future to further strengthen its expansion to the online industry.
Jaron Veelo, Executive Director, commented: “I am very excited with the acquisition of 365trading.com, an upcoming brand with focus the EU markets. We have been seeking to expand our business activities and scope, and the acquisition of 365Trading is an initial step in achieving this goal.”
“The corporate profile, branding and method of operations were what drew us to acquire 365Trading. Their culture, transparency, user-friendly and robust platform, client approach and service reflect an identity that we are proud to acquire and further develop enhance. With 365Trading we are opening a new chapter for the company and we are confident that we can build on the existing success of 365Trading in the markets we intend to focus on,” he added.