A duo of European regulators have highlighted the dangers which unregulated binary options and forex companies are posing to a fair market place.
The Belgian Financial Services and Markets Authority (FSMA) has published a warning message to the public about the services which a variety of providers of binary options and forex products offered to Belgian residents without authorization.
The list of companies provided by the FSMA is mainly comprised of clone companies and some binary options brokers who have become notoriously famous with their fraudulent business practices.
Here is the full list made public by the Belgian FSMA: Futurmarket, BanqofBroker, Royal De Bank, Colbert Capital, Privilege Trading, Binaritrading, COB Trading, Optionavigator, OptionsXO, Cardell Co limited, YA&Co Capital limited, CO&H limited, CEA Finance, FXObank, Binary Forex Market VIP, BarclaysBroker, AGFMarkets, ICMarkets (Invest Capital Markets), Prime FMS, Metacapital Option, FXNTrade and Scottoption.
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The regulator highlights the risks associated with trading OTC binary options and forex and explains that the fact that it hasn’t published a warning against a given provider of binary options does not necessarily mean that the provider in question does have a valid authorization.
At the same time, the French regulator Autorité des Marchés Financiers (AMF) has updated its seemingly endless list of entities providing their services in the country without authorization. Following is the full list of unregulated binary options brands provided by the AMF.