Leadtrade Ltd, the operator of multiple binary options brokerage brands, has relinquished its license authorization as a Cyprus Investment Firm (CIF), pulling out of binary options following a voluntarily business decision. CySEC originally slapped a suspension on Leadtrade over suspicions of a violation regarding lack of funds and inadequate Capital Adequacy Ratio back in late March. However, CySEC later redacted and withdrew its suspension just days later in April after asserting that Leadtrade had in fact complied with the provisions of the law, resulting in lifting of its suspension.
FX Veteran Hossain-Nelson Joins INFINOX to Ramp Up IX Prime OfferingGo to article >>
According to a regulatory manifest, as of April 28, 2017 Leadtrade has receded its license. This correlated to numerous site blackouts and other cessations of trading activity across its brands. Leadtrade had provided investment services across multiple domains including the following:
Finance Magnates has learned that the operations and trading services of several of these domains, including TopOption and Prestige Options, have been offline since May 1, 2017 – the Options Click site has been inactive for at least a few weeks. Following the announcement, Leadtrade will be required to settle all of its existing obligations within a period of three months, as well as addressing any client complaints. The group itself will remain under CySEC supervision during this time.