More brokers warned against by regulators

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Brokers warnings by regulators
Brokers warnings by regulators

As the sector of online binary options trading moves closer and closer to getting fully regulated, binary options brokers are appearing on the warning lists of regulators as regularly as forex brokers.

Shortly before the end of 2015, the Commissione Nazionale per le Società e la Borsa (Consob), which is Italy’s financial markets regulator issued warnings against binary options broker OptionCM and Forex broker IFX4U, warning the public that these entities are not authorized to target Italian investors.

More specifically, according to the Italian regulator the companies Dgx System Ltd and Crlink Limited are not authorized to offer investment services in Italy in any way, including via the website www.optioncm.com and also the companies Ifx4u Ltd and Oklycapital Limited are not authorized to offer investment services in Italy in any way, including via www.ifx4u.com.

It is worth mentioning that IFX4U has already been featured on the warning lists of other European regulators as well, such as the French watchdog, the AMF which included this particular broker in its latest update of its  its “Black List” which lists the names of unauthorized Forex brokers targeting French investors.

In a similar spirit, Japan’s Financial Services Agency (FSA) has also recently updated its lists of unregistered entities that offer financial instruments services to Japanese investors, by adding to the list two Forex brokers and one binary options broker.

The three entities in question are:

Fox International Partners Ltd, also known as Fox Forex, which appears to be based in the Seychelles and which was found by the Japanese regulator to be associated with other businesses against which it has warned in the past, including: Round Mountain LTD, BinaryOptions Service Provider Ltd., B.O.M.STANDARD LTD. (Binaryoption Minute).

BM GROUP ASIA, INC, also known as FXBEST, which is incorporated in the British Virgin Islands.

Although both these brokers are registered overseas, the fact that they maintain Japanese websites and are targeting Japanese investors, requires them under Japanese law to also have a valid registration and license from the Japanese market regulators, which they do not have.

The third entity warned against is Sun Ford Biz, which is a binary options broker, operating under the name SSTrade. The exact address of this entity is unknown but since it also has a Japanese website targeting Japanese investors, it needs to be registered with Japanese regulators and the warning against it was issued to clarify that it has not done so.

1 COMMENT

  1. Tengo inversiones por un valor cercano a los 28.500 dólares en IFX4U y sus beneficiarios Eu Trading Group Inc, Okly Capital Limited, Capital Tradefx Ltd. desdeb junio 2015. Todo al comienzo iba muy bien, hasta que en junio 2016 se pierde contacto con Danny Mendez, Gestor de cuenta para inversores de habla hispana y portuguesa. A la fecha no ha sido posible retomar contacto con él y la Compañía IFX4U, debido a que no contestan teléfono, E mail, Skype, Unidad de Soporte, Backoffice, plataforma de mensajería. Creo que he caído en una estafa. El `problema que tengo es cómo poder recobrar esta inversión. Tienen una página WEB, operan con 3 tipos de cuentas y los depósitos y giros se hacen a través de bancos polacos. Es interesante saber cuantos han sido estafados en América Latina y Brasil.

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