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ASIC warns of 72Option, LCG clone

Jul 21 2017
By
Jonathan Smith

 The Australian Securities and Investment Commission (ASIC) has updated its warning list of unlicensed entities with the addition of the binary options broker 72Option and a clone of the forex broker London Capital Group (LCG).


72Option, also known as Epic Ventures Ltd., is based in Bulgaria, and is sharing the address with another unregulated binary options broker – IvoryOption.


72Option is not regulated by Bulgaria's Financial Supervision Commission, nor by any other entity. It seems the broker is targeting clients in Australia, Canada, Malaysia, New Zealand, South Africa and the UK. There has already been a warning against the broker from the British Columbia Securities Commission (BCSC) last December.


The other warning is of London Capital Group – a clone of the FCA-regulated forex broker of the same name. The fake company has a different business address and operates from the sites www.londoncgroup.com or www.londoncapitalgroupfx.com and neither of them is working. The site of the real LCG is simply www.lcg.com. UK's FCA has also warned of the fake LCG.


TAGS: asic  australia  72option  lcg  clone 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
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Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
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UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
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Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

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