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FCA warns against binary options brokers Stratx Markets and OptionStarsGlobal

The UK financial watchdog, FCA, added two binary options brokers to its warning list: Stratx Markets and OptionStarsGlobal. According to the regulator, they have been providing financial services or products in the UK without FCA’s authorisation, which is required by law.

 

The Financial Conduct Authority (FCA) advises UK traders to be “especially wary” of dealing with companies not regulated in the country, as some of them "knowingly run investment scams".

 

OptionStarsGlobal operates from the www.optionstarsglobal.com website and does not disclose the name of the company behind it. It claims to be based in Samoa, Polynesia, but provides a contact number in the UK.

 

Stratx Markets (www.stratxmarkets.com) is operated by Consultancy Ltd. - a company registered offshore, on the Marshall islands. It promises investment returns as high as 88%, which is typical for this sector. Binary options brokers usually offer high payouts, but the truth is that most of their clients lose a lot of money.

 

A recent survey of the FCA revealed that Brits lose an average of GBP 87 000 a day to binary options scams. No wonder the European Securities and Markets Authority (ESMA) announced three-month ban on the marketing, distribution or sale of binary options to retail investors in March this year.

 

TAGS: FCA  warning  UK  Stratx Markets  OptionStarsGlobal 
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