9 June, AtoZForex — In an attempt to safeguard the investors in Australia, the Australian Securities and Exchange Commission (ASIC) investigated a great number of Binary Option brokers. In its recent public warning, the ASIC register alerts UK brokers Max Options, Porterfinance and Boss Capital of targeting Australian investors without a due license.
ASIC register alerts UK brokers: No Authorisation
According to ASIC, none of UK-registered firms have the official authority or the required licenses to carry out their financial services in Australia. The ASIC warning against Max Options, Porterfinance and Boss Capital comes from their concern for the safety and security of traders and residents. ASIC believes that the firms are attempting to acquire Australian clients by pretending to be regulated legitimate firms.
The websites of Max Options, Porterfinance and Boss Capital allow investors from Australia to register live trading accounts. Hence, for ASIC this meant a potential risk due to their unregulated status. Based on these discoveries, ASIC has issued a warning concluded that based on these criteria while bearing in mind the safety of all its residents, that they are suggested to avoid these entities until they get appropriate licenses.
Max Options is headquartered in Singapore
Changecapital SM Ltd is the parent and servicing firm behind Max Options, a binary options broker that utilizes Spot Option. Although the website of Max Options discloses that they are headquartered in Singapore, the parent firm is registered in 152-160, City Road, London, EC1v 2NX, the UK.
Boss Capital operated by Cheshire Capital Ltd
According to its website, the binary options broker Boss Capital was founded back in 2014. The broker is operated by Cheshire Capital Ltd, which is based in the UK. The broker aims to provide its clients an enjoyable and rewarding trading experience.
Porterfinance is owned by Oracle Stone
The last UK broker that received a warning from ASIC is Porterfinance. The UK-based broker is run by Oracle Stone Limited and was founded back in 2015. Remarkably their website is currently not accessible, in the attempt to reach the page it a pop-up now displays “Access Denied”.
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