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Belgium’s FSMA warned against binary options brokers Vipwayzone and Go Capital FX

Jul 18 2019
By
Jonathan Smith

 

Belgium’s financial regulator, the Financial Services and Markets Authority (FSMA) warned the public against Vipwayzone and Go Capital FX previous week. According to the FSMA, the two companies offer binary options without complying with Belgian financial legislation.

 

“… in the vast majority of cases, persons who invest in firms that do not hold the requisite authorization never recover the sums invested. These are cases of investment fraud,” we read in the official warning.

 

The regulator stated that Vipwayzone and Go Capital FX are not allowed to provide investment services in or from Belgium, and also reminded investors that binary options trading has been banned in the country since 18 August, 2016. So, the activities of those two unregulated brokers in Belgium are completely illegal, and therefore FSMA strongly advises against dealing with Vipwayzone and Go Capital FX.

 

The regulator also warned the public that in the majority of cases, brokers that do not hold legit licenses are engaged in investment fraud, and the persons who invested with them cannot recover any money.

 

Here are some more details about the two brokers blacklisted by the FSMA:

 

Vipwayzone is a trademark of Next Capital Group LTD. It uses the website www.vipwayzone.com and is registered offshore, on the Marshal islands. Brokers in this offshore zone are not obligatorily subjected to any licensing and oversight.

 

The situation of Go Capital FX is quite similar. The broker uses the websites www.gocapitalfx.com and www.gocapital123.com, and operates out of Dominica – a country where forex and binary options brokers are not subjected to any regulation.

TAGS: FSMA  warning  Vipwayzone  Go Capital FX  Belgium  scam  binary options 
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