Binary options broker EZTrader reports significant growth

EZTrader.com is a popular and highly visible binary options broker that is a wholly owned subsidiary of WGM Services Ltd., a financial services company that is registered in Cyprus and authorized by the Cyprus Stock Exchange Commission (CySEC). Since March 2014, CySEC has authorized EZTrader to provide its services in all European Union member states, it should be noted however that in order to comply with U.S. federal securities laws and the regulations of the U.S. Commodity Futures Trading Commission (CFTC), EZTrader does not allow U.S. and Canadian citizens to use its trading platform.

Around since 2008 and particularly proud of its self-developed proprietary technology, since unlike most of its competitors it does not rely on third-party software providers, this broker has demonstrated a rapid growth and it is admittedly constantly seeking opportunities in order to further enhance its presence throughout Europe. An enhanced brand visibility is aimed for and achieved through targeted and effective marketing and advertising efforts, which inter alia include sports sponsorships, such as the recent deals with two popular European football clubs; Germany's Bayer 04 Leverkusen and the Netherlands' Feyenoord Rotterdam.

Upon announcing its results for the first six months of 2014, EZTrader’s CEO Shimon Citron, pointed out that: "Internationally, we are seeing an increased interest in binary options as a popular type of global trading tool. Customers will continue to favor regulated online trading providers with a global reach. We continue to enhance and develop our existing trading platform to anticipate market trends and customer expectations."

And indeed they seem to be achieving this, since in the first half of 2014, they achieved a record in terms of customer growth with a remarkable increase of 145%, raising their figure to 7,854 new customers, up from 3,200 in the first half of 2013. What is more promising for the future is the fact that this appears to be a lasting trend, since the company managed to attract 6,660 new customers in July and August of 2014.

Moreover, according to a press announcement released in the U.S. yesterday, EZTrader Inc. reported a five-fold increase in total revenues for the six months ended June 30, 2014 to $7.95 million from $1.52 million for the period of six months ended June 30, 2013. Additionally, the Company announced that it has filed documentation with the U.S. Securities & Exchange Commission (SEC) to register its shares of common stock with the SEC to later allow re-quotation of such shares on the OTCQB market.

The announcement of the company’s financial Highlights for the six-month period which ended on June 30 2014 also referred to a significant growth in revenue to $7.95 million, compared to $1.52 million, during the same period last year, a marked increase in cash and cash equivalents and the fact that in May 2014 the company managed to raise $3.94 million at a price of $0.50 per share reflecting its growth and developing business.

Commenting their decision to re-register with the SEC and seek quotation of their shares on the OTCQB market, EZTrader’s CEO mentioned that: "Our growth strategy focuses on operating in fully regulated markets only, where greater awareness of binary option trading delivers significant results. We are on a solid strategic path and working to get our shares quoted again on the OTCQB is another important step that will bring increased visibility worldwide."

 

 

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George Milios

George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.

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