A Cyprus Investment Firm that owns both binary options as well as forex online retail brands has decided to extend its operations in Russia by creating a Russian arm to its entity and has gained the relevant approval by CRFIN, i.e the Centre for Regulation in over the counter financial instruments, a non-profit, self-regulated partnership, playing a pivotal role in the monitoring of the FX and binary options markets in the Russian financial industry.
The approval is valid as of 13th October 2014 and it has been granted to Rodeler, which is regulated and licensed under the Cyprus Securities and Exchange Commission (CySEC), holding license number 207/13. What is fascinating with Rodeler is that it was one of the first firms to start off offering binary options services and then deciding to launch a forex brokerage as well, based on its success in the field of binary options.
Currently, Rodeler is the owner of three separate binary options brands, namely Grandoption, Zoneoptions and 24Option, having obtained the latter back in December last year from its previous owner and former CIF Cbay Financial Services Ltd, which renounced its own license soon after.
Rodeler then swiftly went on to launch 24FX, in order to provide retail forex services, capitalizing on the success of its binary options brands and especially of 24Option. Its move to obtaining the CRFIN licensing to operate in Russia reveals the firm’s next expansion plans, which seem not only to want to target the potentially very big and lucrative pool of prospective clients from Russia itself as well as all the neighbouring countries in the Commonwealth of Independent States, but also appears to be preparing itself to also venture into the Chinese and other Asian markets, taking advantage of the recent alignment and synergies developed between the economies and financial services industries of Russia and China.