Exclusive: OptionBit Cutting Staff to Optimize Costs

[kreslik.news]

OptionBit has substantially reduced its workforce in the European Union, sources with knowledge of the matter shared with Finance Magnates. The news comes after the introduction of stricter regulation of the binary options brokerages regulated by the Cyprus Securities and Exchange Commission (CySEC).

The binary options broker targets clients from all over the world and the cost optimization effort is likely to mainly affect the company’s operations that service European clients.

Cost optimization has been a major theme in the binary options industry since last year. The banning of deposit bonus practices by CySEC has substantially contributed to the downsizing ... (read more)