The Financial Services and Markets Authority (FSMA), the Belgian market watchdog, today issued a warning against the activities of Trade Invest 90, a company that offers binary options without authorisation.
Trade Invest 90 is not authorised to offer any financial product or investment services to the people of Belgium. It operates through its website tradeinvest90.com and offers trading in binary options, CFDs and forex. The company claims to have a presence in the UK, Canada, Australia, Switzerland, Austria, Germany and the Netherlands.
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The warning said that the company sends spam emails to the Belgian public with the goal of convincing them to invest in binary options. The spam emails featured the name and logo of the journal ‘De Standaard’, adding ‘De Standaard Middag Update’ to make it more convincing to the users.
The regulator’s statement reads: “The FSMA thus strongly advises against responding to any offer of financial services made by Trade Invest 90 and against transferring money to any account number it might mention.”
Since August 2016, the FSMA has banned investment firms (authorised or not) from actively distributing binary options and any other derivative instruments whose maturity is less than one hour and/or that directly or indirectly use leverage (including forex derivatives and CFDs) within Belgium.
The FSMA strongly advises the public to refrain from transacting with unauthorised firms, as in the vast number of cases, people never recover their investments. The regulator also encourages people to crosscheck the details of all firms on the FSMA website before investing any money.