Market News

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

Nov 26 2018
By Jonathan Smith , Find me on Google+

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

Broker	Advantages

	FXTM a regulated forex broker (regulated by CySEC, FCA and IFSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $5 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
	easyMarkets is a CySEC and ASIC regulated broker offering access to over 300 trading instruments, tight fixed spreads, no slippage and a 50% deposit bonus.
	HYCM is global forex broker with more than 40 years of operational experience, regulated by FCA in the UK. Trade Forex with spreads as low as 0.2 pip
	XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
	FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
	FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
	FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
	FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
	HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.

Broker	Country	Regulation	Platform	Min Deposit	Review
	US	CFTC, NFA	MT4, Web, in-house	$50	Review Website
	Cyprus, UK, Belize	CySec, FCA, IFSC	MT4, MT5, Web	$5	Review Website
	Cyprus, Australia	CySec, ASIC	MT4, Web, Mobile app	$100	Review Website
	UK, Cyprus, Hong Kong	FCA, CySEC, SFC	MT4, Web, PrimeTrader	$100	Review Website
	UK, Cyprus, Australia	FCA, CySec, ASIC	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, South Africa	CySec, FSCA, FSC	MT4, MT5, Web	$5	Review Website
	Cyprus	CySEC	MT4, Web	$25	Review Website

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