de | cn | ru

Market News

Japan's Finance ministry warns of HotForex, Monte Carlo Binary

 Japan's Finance ministry Kanto bureau has issued warnings against the forex broker HotForex and the binary options broker Monte Carlo Binary.


 

According to the regulator, the company HF Markets (SV) Ltd, incorporated in the offshore zone Saint Vincent and the Grenadines and operating as HotForex, is not authorized to provide financial services in Japan. Furthermore, the watchdog notes, the address and company name may be false.


 

According to our own review, HF Markets (SV) is an offshore unit of the HotForex group of companies. Two of the group's companies – HF Markets (Europe) and HF Markets (SA) are respectively licensed by the Cyprus Securities and Exchange Commission (CySEC) and the South Africa's regulator FSB. This, however, does not mean they, or any other member of the HotForex group, can provide services in Japan, as the local law requires all companies be authorized by the local authorities.


 

The other warning is of the binary options broker Monte Carlo Binary, operated by the Seychelles-based M Carlo Capital Limited. The Japanese regulator notes the company is not authorized to provide financial services in the country.


 

Our check revealed that Monte Carlo Binary is a new broker, but is not regulated anywhere. This suggests it may be a scam and hence should be avoided.

 

 

TAGS: japan  warning  hotforex  monte carlo binary 

Related forex news

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA 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, 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

More Forex Market News

German and Austrian police goes after several online financial scammers

Jul 15 2019 14:50:02

  Option888, XMarkets, TradeInvest90, ZoomTrader and TradoVest are being investigated by German and Austrian police for investment fraud and money laundering, the German public television reported, as quoted by the Times of Israel. Read more

ESMA warns forex brokerages not to circumvent its product intervention measures

Jul 12 2019 17:22:23

  The European Securities and Markets Authority (ESMA) has identified certain undesirable practices among CFDs providers, which raise concerns of non-compliance with the product intervention measures introduced a year ago. Read more

Spain’s CNMV blacklists Grand Capital, BinaryMate, FXTPremium, and more

Jul 11 2019 16:56:42

  Spain’s financial regulator, the CNMV, updated its warning list with a number of unregulated brokers on Monday: Grand Capital, BinaryMate, FXTPremium, VideForex, HQ BROKER, WellingtonInv, GlobalBCM. BitcoinTrader, and Smart Capital Advisor. Read more

Bitmarket closes up shop, hack suspected

Jul 10 2019 19:58:47

  Poland’s second-largest crypto exchange Bitmarket closed up shop on Tuesday, without any prior warning. According to a message posted a day earlier on the Bitmarket’s website, the exchange was forced to cease operations due to loss of liquidity. Read more

Austrian FMA flags unregulated brokerage Universe Markets

Jul 09 2019 15:31:55

    The Austrian Financial Market Authority (FMA) warns investors against dealing with Universe Markets and its parent WhiteSquare Trading Ltd. Read more

Capital FMI ends up on FCA’s warning list as a clone

Jul 08 2019 11:40:05

  Unregulated broker Capital FMI ended up on the warning list of UK’s Financial Conduct Authority (FCA) as a clone firm previous week. According to the regulator, the broker has been providing financial services or products in the UK, falsely claiming to be an authorised firm. Read more

CySEC blacklists FX Premium and a bunch of other unregulated brokers

Jul 05 2019 14:12:33

  The latest addition to the warning list of the Cyprus Securities and Exchange Commission (CySEC) are FX Premium and a bunch of other unregulated forex and binary options brokers. Read more

Spanish regulator updates its warning list with Traderia, Gainsy, ECNpremium, BinaryCent

Jul 04 2019 15:11:24

  The Comision Nacional del Mercado de Valores (CNMV) has updated its warning list with Traderia, Gainsy, ECNpremium, BinaryCent, Capital TradeFX, among others, earlier this week. Read more

FCA makes ESMA’s CFD restrictions permanent, but allows higher leverage on bonds

Jul 02 2019 18:53:27

UK’s Financial Conduct Authority (FCA) confirmed its decision to permanently restrict the sale of CFDs and CFD-like products on a national level earlier this week. Read more

The next big scam: Crypto exchange Bitsane vanishes

Jul 01 2019 16:31:49

Dublin-based cryptocurrency exchange Bitsane disappeared without a trace last week, leaving 246 000 clients unattended. Scammers are believed to have fled with cryptocurrency and cash worth millions of euro. Read more

de | cn | ru