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Why 24option stopped the trading competition?

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24option trading competition

Most of you guys might know about 24option trading contest. It was a great trading tournament for 60 seconds trades with really nice cash prizes. I was a regular participant in the contest and even won some prizes :) And this month I was really surprised to found out that from October 2016 the company won't offer competitions any more. So I asked support what is the reason and they explained to me that is a company decision and has nothing to do with CySEC regulations. But in my opinion this decision should be connected to some financial regulations otherwise why they stop it? I found out 24option just recently got some fines from CySEC and the broker is also shut down for France and Belgium.

I thought that FC Juventus was the sponsor of the competition and they simple cut the prize fund so that is why there is no more competition. If that was the case I would be really furious at my team, I am from Torino :) But it looks like FC Juventus is official sponsor of 24option and not in particular for the competition. Last Christmas they were running a great contest with a prize "Private Island in Nova Scotia" and it looks like we won't get any new competition for this year. What I see the last leaderboard is for September 2016. Anyway, if someone knows the real reason why 24option cut the contest please let me know. Thanks guys and happy trading :)

Comments

Bettercall's picture

Hi Giuseppe, I also think this ban is connected to regulations. As far as I know brokers will shut down bonus programs as well and all promotions that push traders to deposits.

Bettercall