Japanese regulators have added three new names to their list of brokers marketing in the company without proper regulation. Of the three, FXDD is the most notable, with binary options brokers BitPlutos and DashOption the other two.
The inclusion of FXDD on the warning list occurs as Japan has become one of the most active countries for FXDD. According to web statistics from SimilarWeb, visitors from Japan accounted for nearly 35% of the broker’s overall traffic to their multi-language site ,www.fxdd.com, for the three month period between November 2015 through January 2016. A major driver of Japanese traffic is the broker’s Japanese language trading blog, www.fxddjpblog.com, which provides support and customer information to traders.
What to Look for in a Liquidity ProviderGo to article >>
As seen in the accompanying chart of top 10 countries by web traffic, according to SimilarWeb, Japan is far and away the broker’s top country when ranked by traffic. The figures compared to 1.46% and 2.64% for BitPlutos and DashOption respectively. Of the two, BitPlutos is notable for aiming to distinguish themselves from other binary options brokers by being the first broker client of SpotOption to allow for bitcoin denominated accounts and deposits.
Not the first major broker getting a warning
While the vast majority of warnings on the Japanese regulator’s list relate to non-regulated brokers who don’t have licensing in Japan or any other jurisdiction such as for BitPlutos and DashOption, included are brokers who are regulated in other countries. In this regard, FXDD is far from the first time a major broker that is regulated has received a warning from Japan, with other firms such as Pepperstone and IronFX having been warned in 2014. In Pepperstone’s case, Japan was a major source of business for the broker before its exit from the country.