Belgian Regulator Updates List of Unauthorized Brokers

As usual, the focus of the Belgian authority is on binary options brokerages.

The Belgian Financial Services and Markets Authority (FSMA) has updated the list of unauthorized brokerages on its website. The watchdog has been at the forefront of the fight of European regulators against companies that are soliciting clients from the region illegally.

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The list which the FSMA is keeping on its website is regularly updated with the names of the latest firms which are deemed highly risky for clients. Looking at the new additions we are spotting several binary options broker brands.

In alphabetical order:

Binat Ltd under https://proinvest.trade

Broker Financial Ltd operating www.invest-option.com

Central Option and Central Provider Ltd which are the firms behind www.centraloption.com

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GN Capital Ltd which owns www.pwrtrade.com

Graham International Ltd which is the owner of https://proinvest.trade

Invest-Option which has the www.invest-option.com brand

Proinvest which is the company behind https://proinvest.trade and the owner of www.pwrtrade.com , PWRTrade.

The regulator also highlighted a clone company called Sterling Consultancy Options Ltd.

The Belgian authorities are amongst one of the more vigilant European regulators when it comes to maintaining a blacklist. The local watchdog is in tandem with the French Autorité des Marchés Financiers to tackle the issues on the market such as unregulated binary options firms operating all over Europe.

With the French authorities recently persuading the country’s parliament to vote on a law that bans the advertisement of highly risky products including forex and binaries, the Belgian watchdog could move on to attempt to limit the access of illegal operators to the Belgian market.

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