Re: Brokers regulation ...

#51
Denmark’s inancial Supervisory Authority (FSA) has issued a warning that the offshore forex broker SolidCFD is not licensed to provide financial services in the country.
The company, however, has been offering to carry out financial services, according to the regulator. According to its clients, the company is a scam - here are the usual complaints: refusing withdrawals, draining people’s credit cards and not returning calls and e-mails.


Re: Brokers regulation ...

#53
FrancoisT wrote:
Wed Dec 13, 2017 2:15 am
It is amazing, how naïve the people could be - to send funds to broker with no regulations, with no participation in ICF and practically with no protection over clients funds.
Newbies are often terribly naive and have no idea what they are doing. I was that way as a newbie too, a few years ago - I trusted a broker on the recommendation of a friend without researching them at all, and then we both got scammed.

Re: Brokers regulation ...

#54
You are right guys, unregulated brokers could certainly cause confusion with new traders and people who are just starting to act in the financial sector. IT is really risky to sign up with a broker who is not regulated as the safety of our funds and personal information are of utmost importance.

Re: Brokers regulation ...

#55
Austria's financial markets and services providers regulator FMA warned that the binary options broker YesOption is not licensed to offer its services in Austria.
According to FMA's announcement, the broker is owned by the company Diamond Global Solutions SRL, with an address in Romania. According to the broker's site, however, the company is registered in the offshore zone Marshall Islands.

When I see a broker "registered" on some island in the middle of the ocean I already know one should stay as far away as possible from them.


Re: Brokers regulation ...

#56
IQ Option, one of the major binary options brokers regulated by the Cyprus Securities and Exchange Commission (CySEC) has joined the Serenity Financial blockchain-based settlement system.



According to the official announcement, IQ Option will be among the first brokers that will increase security for their binary options trading clients by providing services through Serenity platform.



The platform unites forex brokerages and cryptocurrency exchanges from all jurisdictions. It is based on the blockchain technology and records all transactions, trades and withdrawals, thus guaranteeing fairness of all trades and withdrawals. The trading history is recorded in public blockchain, preventing any forgery. Additionally, the Serenity Financial platform can act as an arbitrator and can settle disputes between brokers and traders.



According to Dmitry Zaretsky, Founder of IQ Option, their team always invests in fintech development and supports everything that can replace the outdated standards of the financial industry. In his words, the Serenity project has come up with a great idea of how to utilize blockchain in the Forex and Binary Options industry to protect funds and increase transparency.



IQ Option started off as a binary options broker, but the increasing regulatory pressure has prompted it to expand its offering. Currently the broker offers trading in forex, CFDs, cryptocurrencies and binary options. According to its own estimates, it has a monthly trading volume of USD 11 billion.



The company is regulated by CySEC and is authorized to provide investment and ancillary services in the European Economic Area (EEA – EU states, Iceland, Norway and Liechtenstein) and cross border services to countries outside the EU – Australia, Canada, China, New Zealand, Singapore, South Africa, South Korea, Russia and Ukraine. IQ Option Europe is also registered by UK’s FCA, authorized by Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) and regulated by the French Financial Agents Register (Regafi).

https://www.forexbrokerz.com/news/IQ-Op ... ent-system

Re: Brokers regulation ...

#57
Belgium’s financial markets and services providers regulator FSMA has issued a warning against 10 forex, CFD and binary options brokers who are not authorized to offer their services in Belgium.
According to FSMA, people who have invested with those companies have never recovered their money and most likely have become victims to fraud. Hence, the regulator “strongly advises” against responding to offers or investing with them.

Re: Brokers regulation ...

#58
Spain’s financial markets and services regulator CNMV has issued warnings against two unregulated offshore entities: the forex broker Trade12 and the Binomo binary options broker.
This is hardly the first warning against Trade12. New Zealand's FMA, Italy's CONSOB and from CySEC have also issued such, while Russia's self-regulatory organization KROUFR blacklisted Trade12 over client complaints. More recently Australia’s Securities and Investment Commission and Brazilian Securities Commission (Comissão de Valores Mobiliários – CVM) have also warned against Trade12 and its owner company Exo Capital, registered on the Marshall Islands.
The other entry on CNMV’s warning list is an offshore binary options broker – Binomo – owned by an entity called Tiburon Corporation Limited registered in the Seychelles.

Re: Brokers regulation ...

#60
The Cyprus Securities and Exchange Commission (CySEC) said it has fined EUR 30 000 the owner of theiTrader forex and CFD broker – Hoch Capital Ltd.
The reason for the fine are violations of the Investment Services and Activities and Regulated Markets Law of 2007 in its part regarding the professional competence of investment firms and their employees.
The CySEC board decision was in fact taken last November, but only announced now.


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