de | cn | ru

Market News

Hong Kong's SFC warns of 72Option binary options broker

Hong Kong's financial services regulator, the Securities and Futures Commission (SFC) has issued a warning against the unlicensed binary options broker 72Option.


According to SFC, the brand is owned by Epic Ventures Ltd. and uses a bank account in Hong Kong in the name of Luxury Billion Ltd for settlement.


According to its site, Epic Ventures is based in Bulgaria and is sharing the address with another unregulated binary options broker – IvoryOption.


Despite the legal requirements, 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.


According to its site, the broker caters to a wide range from professional day-traders, to part-time e-Traders, as well as novice investors.


There has already been a warning against the broker from the British Columbia Securities Commission (BCSC) last December and a more recent one from the Australian Securities and Investments Commission (ASIC).


As a general rule, it is better to avoid unregulated brokers, be they forex or binary options. Dealing with them is extremely risky, as often they are just a scam going after the clients' money.

 


TAGS: hong kong  sfc  72option 
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web $100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus FCA, CySec MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus CySec MT4, Web, Gwasy $100 Review Website
Cyprus CySEC in-house mobile
app
$50 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Market News

France's AMF warns of unlicensed binary options brokers

Dec 14 2017 15:58:31

 France's financial markets and services provider AMF has added three new unregulated binary options brokers to its warning list.    According to the regulator, www.capitaldeposit.net, www.emfi-placesecurity.com, www.xfr-financial. Read more

Austria's FMA warns of YesOption binary options broker

Dec 13 2017 16:25:32

 Austria's financial markets and services providers regulator FMA warned that the binary options broker YesOption is not licensed to offer its services in Austria. Read more

Hong Kong's SFC warns of unregulated trading in Bitcoin futures, risks

Dec 12 2017 16:05:09

 Hong Kong's financial markets and services provider regulator, the Securities and Futures Commission (SFC) has issued a warning against trading in Bitcoin futures through unregulated intermediaries. Read more

Forex

Belgium’s FSMA warns of 10 forex, binaries brokers – can be fraud

Dec 08 2017 14:29:06

 Belgium’s financial markets and services providers regulator FSMA, has issued a warning against 10 forex, CFD and binary options brokers who are not authorized to offer their services in Belgium. Read more

Hackers steal Bitcoins worth over $73 mln from NiceHash pool

Dec 07 2017 15:02:20

 NiceHash, one of the major bitcoin mining pools, reported a security breach resulting in hackers stealing a yet unestablished quantity of bitcoins. According to users, 4,736.42 BTC – an amount worth more than $73 million at current prices – has been stolen. Read more

Switzerland’s FINMA warns of UBSOption, Brokers Option binary options brokers

Dec 04 2017 13:29:35

 Switzerland’s financial markets and services regulator FINMA has warned against two unlicensed binary options brokers: UBSOption and Brokers Option. In its typical laconic style, the regulator does not provide further information, except that the two companies are not licensed. Read more

Denmark’s FSA warns of forex broker SolidCFD

Dec 01 2017 14:23:30

 Denmark’s inancial Supervisory Authority (FSA) has issued a warning that the offshore forex broker SolidCFD is not licensed to provide financial services in the country. The company, however, has been offering to carry out financial services, according to the regulator. Read more

Canada’s BCSC warns of uTrader forex, binary options broker

Nov 30 2017 14:49:43

 Canada’s regional regulator, the British Columbia Securities Commission (BCSC), has issued a warning against the forex, CFD and binary options broker uTrader and its owner Day Dream Investments Ltd. Read more

Poland’s KNF warns of binary options broker NobleOption

Nov 27 2017 14:17:07

 The Polish Financial Supervision Authority (KNF) has issued a warning against the binary options broker NobleOption. According to the publication, the company owner of the brand – Spot Capital Markets Ltd. Read more

UK’s FCA warns NBLFX forex broker is a clone

Nov 23 2017 14:18:27

UK’s financial markets and services regulator, the Financial Conduct Authority (FCA), has warned that the forex broker NBLFX and more precisely – its owner Niru Bala/Numex Foreign Exchange Corporation (UK) Ltd – is a clone of an FCA-regulated company. Read more

Forex
de | cn | ru