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UK’s FCA warns against binary options brokers Polarity Index and AG Capitals

Nov 26 2018
By
Jonathan Smith

 

UK’s financial markets and services provider, the Financial Conduct Authority (FCA), blacklisted Polarity Index and AG Capitals on Friday. According to the regulator, these binary options brokers, that also offer account management services, are illegally targeting local citizens.

 

Polarity Index has a clear focus on cryptocurrencies.  In fact, this is the only asset class covered by this binary options broker. It is allegedly owned and operated by Alternative Investment Specialists Ltd., but its website www.polarityindex.com lacks any essential corporate information, such as headquarters, background, financial regulation, etc.

 

The situation with AG Capitals is not any different. The broker operates via www.agcapitals.com and is allegedly owned by AG Capital Ltd., a company registered offshore, on the Marshall Islands. It offers trading in binary options and wealth management services.

 

The marketing and sale of binary options to retail consumers is now banned in the UK and throughout the EU. That is why the FCA warns that that If you are a UK resident and you are offered binary options, it is probably a scam. 

 

Considering the how many con-artists are there on the forex and binary options market, you’d better deal only with financial services providers that are authorized by reputable financial agencies such as the UK’s FCA. The latter keeps a register where you can look up the broker’s name prior to opening an account with it. Doing a due diligence check before investing in a forex broker is also a good idea.



>> Check out our list of brokers licensed by the FCA <<

 

 

TAGS: FCA  warning  Polarity Index  AG Capitals  scam  binary options  UK 
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