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One of the big binary options brokerages in Cyprus, OptionRally has suspended its 24-hour support services. The telephone support numbers of the company are not being picked up across the European Union. According to industry sources familiar with the matter, the company has laid off up to 120 employees.
The company has dramatically reduced its support staff at a time, when the CySEC has issued a series of circulars designated to point companies into a new business model, which is much less reliant on direct sales. Just like the bulk of the binary options industry, ... (read more)