List of companies offering services, all operating unlawfully in Belgium 

The Financial Services and Markets Authority (FSMA) has, on several occasions, warned the public against the activities of various providers of/intermediaries in binary options and forex products, as well as against the activities of various so-called “boiler rooms”, all operating unlawfully in Belgium.

As mentioned in these warnings, the providers/intermediaries/boiler rooms in question are not authorized investment firms or credit institutions in Belgium. They are therefore not allowed to provide banking and/or investment services in or from Belgium. Furthermore, they have not published, where applicable, a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.

It should be specified that at this stage, no offer of binary options fulfils the requirements of Belgian legislation.

The list below comprises all providers of/intermediaries in binary options and forex products, and all boiler rooms, that have been the subject of a warning published by the FSMA since 2013. The names indicated in bold are those of the new companies added to the list following the latest set of published warnings.

Please note that the fact that no warning has been published about a given company does not automatically mean that the latter company holds the authorization necessary to operate in Belgium. In spite of the FSMA’s efforts to publish warnings in a timely manner, it is not impossible that a company may be operating unlawfully even though no warning has been published. As a result, this list cannot be considered exhaustive, and investors are always advised to check if a company that is offering a financial service holds the requisite authorization by consulting the lists of persons authorized to provide regulated financial services, published on the FSMA’s website under the tab “financial service providers”.

AGFMarkets	www.agfmarkets.com	*
AJ Browder Capital		*
Algorates	www.algorates.com	*
Analysis Finance		*
Analyst Invest	www.analystinvest.com	*
Arian Financial		**
Assets Credit Union		**
Aston Forex	www.astonforex.com	*
Aston Markets	www.astonmarkets.com	*
Ate Binary Limited		*
Axis Investment Group	www.axisinvestmentgroup.com	**
B.H.Global France   (B.H.G. France)		**
B.H.N.V. online Ltd		*
B.P.Y Technologies Ltd		*
BANK & BINARY	www.bankandbinary.com	*
Bank Of Market	www.bankofmarket.com	*
Bankandcapital	www.bankandcapital.com	*
BanqofBroker		*
BarclaysBroker	www.barclaysbroker.com	*
BFBMarkets	www.bfbmarkets.com	*
BFM International Ltd		*
BfmMarkets	www.bfmmarkets.com	*
BforBroker	www.bforbroker.com	*
BFXOption	www.bfxoption.com	*
BH France		**
BHR Conseils		*
Binareo	www.binareo.com	*
Binaritrading	www.binaritrading.com	*
Binaroom	www.binaroom.com	*
Binary Forex Market VIP	www.bfmvip.com	*
Bo Bank	www.bo-bank.com	*
BoursoMarket	www.boursomarket.com	*
Boursoratrade	www.boursoratrade.com	*
Bridgestone Trading		**
Broker International Bank	www.brokerinternationalbank.com	*
Broker&Co	www.brokerandco.com	*
Burton Financial Partners		**
Capital Hill Group		**
Cardell Co limited	www.cardell-limited.com	*
Cartius Finance		**
CEA Finance	www.ceafinance.net	*
CFX Markets	www.cfxmarkets.com	*
Changsheng Associates		**
CO&H limited		*
COB Trading	www.cobtrading.com	*
Colbert Capital	www.colbertcap.com	*
Consortrade limited		*
Corolla Financial		**
CT-Broker	www.ct-broker.com	*
Dalerich ltd		**
Dashan International	www.dashaninternational.com	**
Denko Group		**
Ebinaires	www.ebinaires.com	*
Edmund Rome Corporate		**
Equity Capitals		*
Euro Asia Invest		**
European Commodities Commission (ECC)	www.europeancommoditiescommission.com	**
Excel Management		**
Experia Management Group	www.experia-group.com	**
F&C Investment		*
F&C Management Limited		*
Fi Options	www.fioptions.com	*
Fife Hamilton Associates		**
Financial Advisors Online		**
Financial Broker	www.financial-broker.com	*
Finanperf		*
FIPconseil		*
FISERVICES Ltd		*
ForexTrada	www.forextrada.com	*
FSI Union	www.fsi-union.com	*
Ftradition	www.ftradition.com	*
Futurmarket		*
FXbanque	www.fxbanque.com	*
FXCM (FXCManagement)	www.fxcmanagement.com	*
FXGL Capital	www.fxglcapital.com	*
FXNTrade	www.fxntrade.com	*
FXObank	www.fxobank.com	*
G.I. Technologies		*
G.O. LIMITED		*
Gemsasia Investments Corporation		**
Generaloptions	www.generaloptions.co	*
Genkai Securities		**
Global Strategy Capital Markets Ltd	www.gscm-limited.com	**
Golden-Bank	www.golden-bank.com	*
Good Option	www.good-option.com	*
Green Seed Capital en CDH Investments		**
Haussman Capital	www.haussmancapital.com	*
Hawk Trade	www.hawktrade.com	**
HCI Fund	www.hcifund.com	*
Herrington Global	www.herrington-global.com	**
ICMarkets (Invest Capital Markets)	www.investcapitalmarkets.com	*
Idelson Group		*
Ikkotrader	www.ikkotrader.com	*
Insta-trading	www.insta-trading.com	*
Inter Global Equity	www.interglobalequity.com	**
Invest-Binary	www.invest-binary.com	*
IP International Service		*
Ixitrade	www.ixitrade.com	*
Jones Falls Securities		**
Jones Shaw Capital Partners	www.jonesshaw-capitalpartners.com	**
KD Markets	www.kdmarkets.com	*
Legend Options	www.legendoptions.com	*
LIBServices ltd		*
Mascarene management		*
Maya Company Ltd		*
Mercuria Technologies LTD		*
Meta Capital Partners Ltd		**
Metacapital option	www.metacapitaloption.com	*
MIA 29 Ltd		*
Moss Securities	www.mosssecurities.com	**
Neuberger and Co. Wealth Management	www.neuberger-wealth-management.com	**
Newcastle Distributors		**
Next Binary	www.nextbinary.com	*
Norikura-Global	www.norikura-global.com et www.stemx.org	**
OBinary Corporation	www.obinarycorporation.com	*
OBmarkets	www.obmarkets.com	*
Opteck	www.opteck.com	*
Optionavigator	www.optionavigator.com	*
Optionsmarter	www.optionsmarter.com	*
OptionsXO	www.optionsxo.com	*
Peston & Sons Securities	www.peston-sons-securities.com	**
Prestige Banq	www.prestigebanq.com	*
Prime FMS	www.primefms.com	*
Privilege Trading	www.privilegetrading.com	*
Pro-Binary	www.Pro-Binary.com	*
Redford Option	www.redfordoption.com	*
Ridgewood Securities		**
Risk & Portfolio Management Ltd		**
Royal Broker	www.royal-broker.com	*
Royal de Bank	www.royaldebank.com	*
S&B Seven Ltd		*
Saito Mergers & Acquisitions	www.saitomergers.com	**
Scottoption	www.scottoption.com	*
Seattle Mercantile Exchange		**
Secure Invest	www.secureinvest.org	*
Sequoia Markets		*
SIA Europe Trade Services		*
Sigma Capital Advisors		**
Sisma Capital Ltd		*
Skyoptions		*
Taiwan Options and Futures Exchange		*
Technopers	www.technopers.com	*
Telcom Services Ltd.		*
Time Binary	www.timebinary.com	*
TJB Trading		*
Tradaxa	www.tradaxa.com	*
trader 369		*
Tradignition	www.tradignition.com	*
Trading Corporation		*
Tradmaker	www.tradmaker.com	*
Trebol Trading LLC	www.tt-fx.us	*
Triumph Option	www.triumphoption.com	*
Ubinary	www.ubinary.com	*
United Global Trading		**
Wagner Berne (represented by Matthew Goodman)		**
White-Miller Associates	www.white-miller-associates.com	**
Wiltshire Capital		**
XFR Finance Ltd		*
XFRoptions	www.xfroptions.com	*
XP Markets	www.xpmarkets.com	*
YA&Co Capital limited		*

* = companies offering binary options / forex products

** = boiler rooms

Source: FSMA

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