What’s an event without some bitcoin news. At the iFXEXPO, Forex Magnates had the chance to discuss IG Group’s bitcoin binary options trading product with company representatives at their booth. The firm had become the first broker to launch binary options trading in bitcoins back in April. Following up with company, we learned that the broker will not be releasing new contracts after their current options expire today, May 31st. Representatives mentioned that the product was welcomed by the sales team as it led to interest in the broker from a new audience. The bitcoin binary launch also brought them additional publicity towards the rest of their products. However, citing simply “management decisions”, the product will cease to exist.
Our opinion is that due to the headline risk of bitcoins, and the often quoted connotation to money laundering, IG’s management preferred to discontinue trading in the digital currency. With their exist, it leaves only Anyoption as the only binary options broker offering bitcoin derivatives. In terms of Anyoption, bitcoin trading is expected to exist until at least the summer, as their product feature expirations as late as July 15th.
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