July 6, AtoZForex - Back on the 20th of June, ASIC released a report about the Compliance review of the retail OTC derivatives sector and emphasized a rise in the activity of unauthorized binary options providers. In relation to this report, ASIC has now issued a warning upon its concern of about 40 unlicensed binary options providers or affiliates websites. According to ASIC Binary Options Warning, the majority on the list are binary options firms. While the remainder consists of binary options broker affiliate websites, binary option review websites, margin FX providers, FX service providers and binary options trading signal providers.
Details of ASIC Binary Options Warning
Based on the ASIC Binary Options warning, about 21 binary options have decided to collaborate with the regulator and adjust their activities to guarantee that they will not provide financial services in Australia until they have acquired the appropriate license or authorization. Some of the corrective steps include:
- Deleting references that point to Australia on their website;
- Stopping marketing campaigns that target Australian investors;
- Adding disclaimers to websites and mobile apps;
- Blocking sign-up access to Australian investors;
- Shutting down existing Australian accounts;
- Notifying Australian investors that the entity does not have an appropriate license in Australia.
Which companies agreed to implement adjustments?
Here is the list of binary options providers and websites that agreed to take corrective steps:
| Name of the Broker | Country | Website |
| IQ Option | Cyprus | https://iqoption.com |
| Rodeler Limited as 24Option | Cyprus | http://www.rodeler.com/ |
| BDB Services Ltd trading as Banc de Binary | Belize | https://bancdebinary.com/ |
| AnyOption | Cyprus | http://www.anyoption.com/ |
| Stockpair.com | Cyprus | https://www.stockpair.com/ |
| OneTwoTrade | Malta | https://www.onetwotrade.com |
| AM Capital | Hong Kong | http://www.amcapital.hk/ |
| Centralspot Trading | Cyprus | http://www.centralspottrading.com/ |
| Nuntius Brokerage & Investment Services S.A. | Greece | http://nuntiusbrokers.com/en/ |
| Market Punter Limited | New Zealand | http://www.marketpunter.com/ |
| FMTrader | Belize | https://fmtrader.com/ |
| Growell Capital Ltd | INDONESIA | http://www.growellcapital.com/ |
| Blackwell Global Investments | Cyprus | http://www.blackwelltrader.com/ |
| Tradersasset | - | https://www.tradersasset.com/ |
| Binary Options Pty | - | http://binaryoptionsptyltd.com.au/ |
| Best10binarybrokers | - | Not working |
| 10bestbinarybrokers | - | Not working |
| Binaryoptionrobot | - | Not working |
| Diamond Managed FX | - | http://www.diamondmanagedfx.com/ |
| CherryTrade | - | http://www.cherrytrade.com/ |
Brokers which have not directly reacted to ASIC concerns, but have made some corrections are:
| Name of the Broker | Country | Website |
| No1Options | United Kingdom | http://www.no1options.com/ |
| AutoTradingBinary | UK | http://www.autotradingbinary.com/ |
| AAOption | UK | https://www.aaoption.com/ |
| Trades Capital | UK | https://www.tradescapital.com/ |
| Finpari | UK | https://www.finpari.com/ |
| Binary Tilt | UK | https://www.binarytilt.com |
| Peter Knight Advisors | Australia | http://www.kfadvisors.com.au/ |
| Banc de Options | China | http://www.bancdeoptions.com/ |
| Ayrex | Saint Kitts and Nevis | https://www.ayrex.com/ |
How to protect yourself as an investor?
As advised by ASIC, Australian clients should check their brokers with professional registers to verify if the firm is licensed or not to provide financial services.
Moreover, any company that operates or gives advice in binary options in Australia needs to possess Australian financial services (AFS) license or be authorized by an AFS licensee.
Think we missed something? Let us know in the comments section.