The Cyprus Securities and Exchange Commission (CySEC) issued a warning on Monday about Binarium Ltd and several of its websites that have not been granted authorization to provide investment services.

According to the advisory, the domains are binarium.com, binarium.link, binarium.click, binarium.global, binarium.trading and binarium.trade. “CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities,” the watchdog added in the statement.

As of press time, no comments came from Binarium, whose main domain remains online. The website operates under the license HE321566 and has offices in Nicosia, Cyprus. Binarium was founded in 2012 and provided little information on its homepage about its services to the public without specifying explicitly it offers binary options services.

Recent Warnings

Recently, CySEC raised red flags on four websites offering foreign exchange trading services to investors in the country. The websites are Crypto Banxa Trade (cryptobanxatrade.com), FX Wet (fxwet.com), Skype Crypto FX (skypecryptofx.com) and Capital Base FX (capitalbasefx.com). The Cypriot authority said the websites do not belong to an entity granted authorization under Article 5, Law 87 (I) of the country’s Investment Services and Activities and Regulated Markets Law of 2017.

The Cypriot financial industry watchdog said the websites are not permitted to provide or perform investment services or activities in the country. CySEC’s warning comes the same month the regulatory organization warned against fraudsters that it said were presenting themselves as its officers and representatives.

CySEC recently announced its enforcement action against two regulated companies, Ayers Alliance Financial Group Limited and BrokerCreditService (BCS) (Cyprus) Limited. While Ayers Alliance was found to be in violation of the regulator’s mandatory staffing requirements for its risk management department, BCS Cyrpus faced an administrative fine of €10,000 for non-compliance with the country’s market abuse laws.

The Cyprus Securities and Exchange Commission (CySEC) issued a warning on Monday about Binarium Ltd and several of its websites that have not been granted authorization to provide investment services.

According to the advisory, the domains are binarium.com, binarium.link, binarium.click, binarium.global, binarium.trading and binarium.trade. “CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities,” the watchdog added in the statement.

As of press time, no comments came from Binarium, whose main domain remains online. The website operates under the license HE321566 and has offices in Nicosia, Cyprus. Binarium was founded in 2012 and provided little information on its homepage about its services to the public without specifying explicitly it offers binary options services.

Recent Warnings

Recently, CySEC raised red flags on four websites offering foreign exchange trading services to investors in the country. The websites are Crypto Banxa Trade (cryptobanxatrade.com), FX Wet (fxwet.com), Skype Crypto FX (skypecryptofx.com) and Capital Base FX (capitalbasefx.com). The Cypriot authority said the websites do not belong to an entity granted authorization under Article 5, Law 87 (I) of the country’s Investment Services and Activities and Regulated Markets Law of 2017.

The Cypriot financial industry watchdog said the websites are not permitted to provide or perform investment services or activities in the country. CySEC’s warning comes the same month the regulatory organization warned against fraudsters that it said were presenting themselves as its officers and representatives.

CySEC recently announced its enforcement action against two regulated companies, Ayers Alliance Financial Group Limited and BrokerCreditService (BCS) (Cyprus) Limited. While Ayers Alliance was found to be in violation of the regulator’s mandatory staffing requirements for its risk management department, BCS Cyrpus faced an administrative fine of €10,000 for non-compliance with the country’s market abuse laws.