Binary options trading steadily becoming more popular among traders worldwide The market is constantly expanding to make space for new brokers and almost every day we hear something new happening on the market.
But where did it all began? If you are relatively new to the industry, you might not know the basics of its history. So we decided to take a look at the most important events that made binary options trading what it is today.
Chicago Board Options Exchange
The history of binary options trading officially began back in 1974 when the Chicago Board Options Exchange (CBOE) was launched. The creation of this body through the Board of Trade made binary options OTC transactions. At this point, trading was not standardized and was still to go many changes in the future. However, this was the first step in binary options trading becoming regulated and gaining respect.
SEC Binary Options Approval
Before 2008, binary options accounted for only a small part of trades. This quickly changed when the SEC (Securities and Exchange Commission) accepted the proposal created by the Options Clearing Corporations. This allowed binary options to finally gain importance on the exchange market. The American Stock Exchange provided binary options trading first, and others soon followed.
First Binary Options Platforms
Rapidly following the development on the market, 2008 was also memorable because of the first binary options trading platforms launching on the market. 24Option and AnyOption that are still on our recommended brokers list were among those first revolutionaries.
Popularity of Binary Options Worldwide
Since then, the popularity of binary options trading has skyrocketed. Already in 2015 there were 2,5 million binary options traders worldwide. Last year it was recorded that searches for “binary options” have doubled in the last three years. This phrase gets 110,000 searches on Google every month. And the popularity just keeps growing!
Another important development that we are currently facing is the increasing importance of mobile trading. As the world is speeding up, traders want to have an opportunity to have an excellent trading experience on the go. Luckily, many brokers have been understanding of this need and launched user-friendly apps.
So where will it all take us? Time will tell, but it is for sure that binary options trading is an important part of exchange market nowadays and its popularity increases rapidly.
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