Japanese Ministry of Finance Issues Warnings Against OptionBit and FBS
- Unlicensed binary options and foreign exchange trading are forbidden in Japan.
The Japanese Ministry of Finance has targeted two companies from the industry with a client warning. The firms in focus are binary options brokerage OptionBit and foreign exchange broker FBS.
According to the warning, neither of the companies possesses a license to operate in the country. Japanese authorities are strict in allowing only regulated firms to target residents and have been active in taking action to protect the public.
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The international subsidiaries that are operating OptionBit and FBS are both identified as registered in St. Vincent and the Grenadines, an offshore destination that is frequently used by unregulated brokers that target global clients.
The companies which the Japanese Ministry of Finance identifies as the owners are Parallax Incorporated and Global View International Services.
Japan is one of the countries where unregulated binary options and 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 fraud has been widespread. Local regulatory authorities have introduced special regulations for the binary options industry in order to minimise the adverse effects of the product on traders.
The minimum timeframe for binary options trades is two hours and clients can close their positions at any point in time. The FFAJ publishes monthly stats on the profitability of clients and has limited the number of binary options operators in the country to seven companies.
The product has been gradually losing popularity in the country with the Japanese binary options industry being in decline since the strict regulations came into force. Japanese authorities are also tightly regulating the retail forex market, where the maximum Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term for retail clients is limited to 1:25.
The Japanese Ministry of Finance has targeted two companies from the industry with a client warning. The firms in focus are binary options brokerage OptionBit and foreign exchange broker FBS.
According to the warning, neither of the companies possesses a license to operate in the country. Japanese authorities are strict in allowing only regulated firms to target residents and have been active in taking action to protect the public.
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The international subsidiaries that are operating OptionBit and FBS are both identified as registered in St. Vincent and the Grenadines, an offshore destination that is frequently used by unregulated brokers that target global clients.
The companies which the Japanese Ministry of Finance identifies as the owners are Parallax Incorporated and Global View International Services.
Japan is one of the countries where unregulated binary options and 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 fraud has been widespread. Local regulatory authorities have introduced special regulations for the binary options industry in order to minimise the adverse effects of the product on traders.
The minimum timeframe for binary options trades is two hours and clients can close their positions at any point in time. The FFAJ publishes monthly stats on the profitability of clients and has limited the number of binary options operators in the country to seven companies.
The product has been gradually losing popularity in the country with the Japanese binary options industry being in decline since the strict regulations came into force. Japanese authorities are also tightly regulating the retail forex market, where the maximum Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term for retail clients is limited to 1:25.