ASIC Binary Options Warning: Banc de Binary, 24Option included

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:

Multibank Review
Visit Site
4.8/5 Review
Visit Site
4.8/5 Review
Visit Site

Name of the Broker Country Website
IQ Option Cyprus
Rodeler Limited as 24Option Cyprus
BDB Services Ltd trading as Banc de Binary Belize
AnyOption Cyprus Cyprus
OneTwoTrade Malta
AM Capital Hong Kong
Centralspot Trading Cyprus
Nuntius Brokerage & Investment Services S.A. Greece
Market Punter Limited  New Zealand
FMTrader Belize
Growell Capital Ltd INDONESIA
Blackwell Global Investments Cyprus
Tradersasset  -
Binary Options Pty  -
Best10binarybrokers  - Not working
10bestbinarybrokers  - Not working
Binaryoptionrobot  - Not working
Diamond Managed FX -
CherryTrade  -

Brokers which have not directly reacted to ASIC concerns, but have made some corrections are:

Name of the Broker Country Website
No1Options United Kingdom
AutoTradingBinary  UK
AAOption UK
Trades Capital UK
Finpari UK
Binary Tilt UK
Peter Knight Advisors Australia
Banc de Options China
Ayrex Saint Kitts and Nevis

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.

Leave a Reply

Your email address will not be published. Required fields are marked *