CySEC Warns Against Go Capital FX and World Binary Option

The Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) has posted two warnings on its website this Thursday, one against gocapitalfx.com and the other against www.worldbinaryoption.com.

In the first warning against gocapitalfx.com, CySEC states that this website does not belong to an entity that is authorized to provide investment services and/or perform investment activities.

Following the URL, the entity which goes by the name Go Capital FX, claims to be a trading provider and offers a number of assets such as foreign exchange (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), contracts-for-differences (CFDs) on metals, indices, shares and more as well as futures.

The alleged trading provider claims to give its clients access to the MetaTrader 4 platform, where they will have access to a range of instruments and trading opportunities.

On the website, the entity claims that Go Capital FX is the trading name of Lancelot Equity Ltd, which is located in the Commonwealth of Dominica.

“CySEC urges investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities,” the warning published states today.

CySEC: World Binary Option is Not Regulated

The second website www.worldbinaryoption.com also doesn’t belong to an entity which has the authorization to provide financial services in Cyprus, according to the Cypriot watchdog.

According to the website: “World Binary Option is an online Forex and CFD Broker providing traders across the globe with cutting edge technology to trade the world’s markets. Since 2010, our focus has been to change the way people trade forex.

“We are driven to provide traders with incredibly low-cost pricing across all FX, CFDs and Commodities with the security of financial regulation and industry leading customer support.”

On its website, the entity claims to be based in the United States and states that it is regulated by the Commodity Futures Trading Commission (CFTC), the International Financial Services Commission (IFSC) in Belize, the Financial Conduct Authority (FCA) in the United Kingdom and by CySEC.

However, the regulator states: “Information in the above mentioned website, which suggests that it belongs to an entity that is regulated by CySEC, is misleading and does not correspond to reality.”