The Financial Services and Markets Authority (FSMA) has issued a public warning against the unauthorized activities of nine Forex and binary options providers in Belgium after failing to register with the regulator.
Belgian-based FSMA has warned against XP Markets, Tradmaker, Bank Of Market, Time Binary, Aston Markets, Aston Forex, Ebinaires, KD Markets and Tradaxa. This is hardly the first such warning from FSMA, which has issued a number of such announcements earlier this year.
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FSMA dictates that all credit institutions or investment firms operating in the country must be authorized by the regulator – for the safety and security of investors. FSMA also advises against deposits and transferring of money to these entities, given the inherent risk involved. While previous warnings have centered on Forex firms in years last, a large majority of unregulated entities have recently been binary options providers.