Belgian regulator warns against unauthorised Binary Options firms
The Financial Services and Markets Authority (FSMA) has issued a warning for the public against the activities of various providers of Belgium binary options. A number of companies offer these very risky investment instruments in Belgium without complying with the financial legislation, such as OBmarkets, Good Option, Ubinary, Triumph Option, Bo Bank/Analysis Finance and BforBroker.
Certain investment instruments offered by these companies, namely, binary options, are speculative and very risky. The investor risks losing the entire amount invested. The FSMA has in fact recently issued a warning against the risks associated with binary options.
The aforementioned companies 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.
Moreover, these companies have not published an FSMA-approved prospectus as required in order to offer investment instruments to the public within Belgium.
The FSMA thus strongly advises against responding to any offers of financial services or public offerings of investment instruments made by these companies and against transferring money to any account number they might mention.
Source: fsma
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