Here is a list of news bulletins that we have released in the past regarding Cedar Finance, its innovations, new scam allegations involving it, and other important and relevant information about this binary options broker.
This record is presented with the latest article to have been removed from the homepage at the top of the current list:
Cedar Finance add Italian Language
As of June 2013, Cedar Finance has added the Italian language to its site. It is unclear why Cedar Finance has chosen this market as its next target. Binary options brokers have been under tight scrutiny on behalf of the Italian government.
CONSOB, formerly the national commission of companies and stock exchange, and practically the regulator of investment related topics in Italian legislation, has requested a general ban on unregulated binary options firms. As early as July 2012 CONSOB released a note obligating all binary firms to seek formal regulation.
As of April 2013, a judge in Rome has heeded to the request and many binary sites were immediately banned from operating in Italy. Therefore, the decision by Cedar Finance to enter the Italian binary options market while still being far from attaining regulation in the USA, let alone Italy, raises eyebrows.
Cedar Finance expands outreach
June 3rd, 2013
Cedar Finance have partnered with different companies offering additional payment services to European customers. Now, traders from the Netherlands, Germany, Belgium and the UK will have an easier time making deposits.
This follows the strategy launched by the company to increase its market share in several European countries. Unfortunately, still no word on when educational tools will be offered to its customers.
The recent additions to the payment possibilities include GiroPay, Sofort and iDeal.
Cedar Finance Add French, German on Their Site
February 25th, 2013
Cedar Finance have added French and German language sections to their site. Seeking to attract new traders and expand their operations, the choice of these markets as initial targets is hardly surprising.
While France is the largest binary options market worldwide, German is the fastest developing one. Until recently, German investors had been giving preference to Contracts For Difference (CFD’s), a more sophisticated online investment tool.
Nonetheless, this market is taking a fast turn towards binary options, and that rapidly growing customer base has attracted many binary brokers, including Cedar Finance.
While accusations of a Cedar Finance scam continue to grow, mainly an indication of a questionable quality of service, the company has preferred to broaden its appeal, as opposed to strengthening its image and reputation,
We will keep you posted about new developments concerning Cedar Finance, although a rapid visit to the French and German sites reveal the same technical issues and lack of commitment in informing clients about the risk of this investment.
Cedar Finance Regulation Scam?
During this month of October 2013, Cedar Finance are in the final process of obtaining regulation from the CySec (Cyprus Securities Commission). If you feel this is an assurance to the safety of your monies when opening an account with Cedar Finance, please take note:
The license offered by the CySec, which is in fact accepted by the E.U., is only valid when the client’s funds are deposited either in Cyprus, or at least a member country of the European Union. Funds that are in banks outside Europe are not under the supervision of the regulatory body.
Cedar Finance clearly state in their site that although they are a legal Cypriot company, their bank accounts are outside of this country. They conveniently do not inform where the money is…
This is a red flag that you should be very cautious about. Avoid fraud and unreliable binary brokers. For more information, read our homepage article.
Cedar Finance Aims at Expansion
Has Cedar Finance gone from being a local, US-based broker to a multinational corporation? Apparently, that is what the company is planning, as they attempt to expand their reach to new binary markets.
After uploading the German and French versions of the site, Cedar Finance unsuccessfully attempted a breakthrough into Europe through the Italian market. So far results have been meager, perhaps the effect of the many scam accusations the company has faced.
This has not stopped Cedar Finance from seeking new ways to increase its customer-base, and now the firm is offering a Russian version of its site. Russia is one of the most sought-after emerging binary markets. A very aggressive marketing campaign has helped in creating a buzz during the months of July and August, but assessing the ultimate results of this move will only be possible by the end of 2013.