During the passing week the most interesting stories from the online trading world included major changes in the binary options industry as well as a couple of top executive moves.
Mastercard tightening the noose on binary options
On Monday we learned that the payments giant Mastercard now lists binary options as a brand damaging activity, alongside the sale of controversial products such as psychoactive “herbal” drugs and illegal ivory. It associates binary options with risk of fraud, deception and disputes.
According to our sources, Mastercard has issued a notice to its clients to make sure they understand and adhere to a number of restrictions on binary options transactions.
On Tuesday we reported that binary options technology provider SpotOption has successfully launched a Contracts for Difference (CFDs) trading platform. The CFD platform grants access to a variety of markets including stocks, commodities, currencies, and indices. SpotOption has also developed a new plug-in for MetaTrader4 which is focusing on delivering binary options trading via the most popular forex trading platform.
The following day the news broke that one of the biggest binary options brokerages in the world, 24option, has launched its own CFDs and FX trading platform. The trading brand operated by Rodeler Ltd has thus become the first major brokerage in the industry to use its own proprietary solution and broadly expand the asset offering of the company.
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Leads Protecting System
On Wednesday Finance Magnates exclusively reported about a new solution to leads theft that is being soft launched.
The LPS solution works by making sure the leads first get to the Leads Protecting System, which is hosted on the broker’s private cloud. They then send the leads to the CRM/Trading System, without the clients’ sensitive information. They also encrypt the sensitive data and save it on secured servers.
Sucden Financial hires Noel Singh
On Thursday it was reported that Noel Singh is preparing to join Sucden Financial as Head of e-FX Development. An industry veteran, Singh joins from the FX Clearing Department of Dutch bank ABN Amro, where he was Product Manager.
Mr Singh brings decades of experience in institutional level FX trading after 9 years at Dai-Ichi Kangyo in London, 5 years at EBS and various senior roles in the financial industry. He served as the Head of the FX Prime Brokerage business of SEB Merchant Group.
Anet Azrielant joins FXGlobe
On Friday we reported that Anet Azrielant has joined FXGlobe as its Chief Operating Officer. She joins FXGlobe having previously spent 10 years at easyMarkets, latterly as VP of Sales.
In her new role, Azrielant will be responsible for managing the operations of the HQ and leading the sales team by managing processes and performance, recruiting and training a team of account managers, cooperating with marketing for developing and implementing new campaigns and improving the technology infrastructure through development.