FSMA warns against unauthorised binary and forex firms
The Financial Services and Markets Authority (FSMA) issued a warning informing the public against the activities of various providers of binary options and forex products. The following foreign companies are offering these highly risky investment instruments in Belgium without complying with the relevant Belgian financial legislation: XP Markets, Tradmaker, Bank Of Market, Time Binary, Aston Markets / Aston Forex / Ebinaires, KD Markets and Tradaxa.
These 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.
Furthermore, a number of investment instruments offered by these companies, in particular binary options and forex products, are speculative and highly risky. Investors run the risk of losing the entire sum invested.
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.
The warnings concerning XP Markets, Tradmaker, Bank Of Market, Time Binary, Aston Markets / Aston Forex / Ebinaries, KD Markets and Tradaxa are available on the FSMA website.
Source: FSMA
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