FSMA Belgium reports unauthorised Forex and Binary Options providers
The Financial Services and Markets Authority (FSMA), a financial regulator of Belgium, has issued an announcement to warn investors and public against the activities of various providers of/intermediaries in binary options and Forex products, “recovery rooms” and “boiler rooms”, all operating unlawfully.
As mentioned in the warning, 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 fulfills the requirements of Belgian legislation.
As regards “recovery room”-type fraud, despite the promises made by the persons offering this service, the fees charged do not result in the victims recovering the lost funds, and the sums paid in the process by the client are thus also lost.
According the announcement, the FSMA has added new companies on the list of unauthorised firms.
The companies offering binary options / forex products / CFD / other derivatives, recently added on the list of companies operating unlawfully in Belgium are:
Benedict Morris – BMBOption – Log Trading Capital Ltd
BigOption – Wirestech Limited
Brevan Invest – Kasuar Ventures Ltd
City Bank CFD
Edgedale Finance – Gold Horizen Ltd
FMTrader – Terapad Services Ltd – FM Marketing Ltd
Financial Futures Ltd (cloned firm) – Digifirst Hungary Kft
Ivoryoption – Arya Group Ltd – Arianus Marketing Ltd
London Global Markets
Markets Central Investment
OptionXchange – Globe & co ltd – SC-Options
Pacific Sunrise UK Ltd – Aaoption – CFDStocks
Swiss Capital Invest (Swiss Capitalinvest/ Swiss-CapitalInvest.com/ Swiss-CapitalInvest) / Atlasreference Unipessoal LDA
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