Exclusive: Unregulated Firm UK Options Closing Shop
- Binary options provider closes down, seemingly due to growing pressure from local regulator.
Regulatory pressure continues to affect Israeli binary options providers with yet another broker winding down. Finance Magnates has learned that UK Options, operating under an IP registered in Ireland, has stopped taking deposits, and all its employees were cut loose last week.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong
Recently UK Options gained entry to a notorious list – the American Commodity Futures Trading Commission Red List - after allegedly targeting US citizens unlawfully. Contained within the list are foreign entities acting in capacities that require registration but that are not appropriately registered with the commission.
Last week the Israeli parliament’s State Control Committee held its first discussion about an initiative to ban local binary options providers marketing abroad. The ISA Chairman, Prof. Shmuel Hauser, revealed at the meeting that a draft for an Israeli ban on marketing binary options overseas is expected soon.
Recently the ISA has taken a more active approach against unauthorized Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term activities in Israel, after licensing six Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers on the one hand and banning binary options on the other. Last November it fined an unlicensed binary options provider for the first time. D.G.I Media had to pay 500,000 NIS (over $125,000) for operating a binary options brokerage against regulations and its owner and CEO is now banned from holding a similar position for two years.
Regulatory pressure continues to affect Israeli binary options providers with yet another broker winding down. Finance Magnates has learned that UK Options, operating under an IP registered in Ireland, has stopped taking deposits, and all its employees were cut loose last week.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong
Recently UK Options gained entry to a notorious list – the American Commodity Futures Trading Commission Red List - after allegedly targeting US citizens unlawfully. Contained within the list are foreign entities acting in capacities that require registration but that are not appropriately registered with the commission.
Last week the Israeli parliament’s State Control Committee held its first discussion about an initiative to ban local binary options providers marketing abroad. The ISA Chairman, Prof. Shmuel Hauser, revealed at the meeting that a draft for an Israeli ban on marketing binary options overseas is expected soon.
Recently the ISA has taken a more active approach against unauthorized Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term activities in Israel, after licensing six Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers on the one hand and banning binary options on the other. Last November it fined an unlicensed binary options provider for the first time. D.G.I Media had to pay 500,000 NIS (over $125,000) for operating a binary options brokerage against regulations and its owner and CEO is now banned from holding a similar position for two years.