Trading Binary Options? Belgian regulator blacklisted 5 brokers

The Belgian Financial Services and Markets Authority (FSMA) blacklisted 5 brokers, updating its exhaustive warning list. The blacklisted companies include binary options as well as Forex products. Which brokers got added to warning list? 

10 August AtoZForex — Recently, local financial regulators in Europe have taken various steps against binary options brokers that solicit for European investors without authorization or license. The French regulator has initiated to ban forex and binary options online advertising, whereas the Danish FSA issued a warning against binary options affiliate. Following those actions, yesterday the Belgian regulator blacklisted 5 brokers, of which the majority are binary options brokers.

The FSMA supervises the financial markets in Belgium and is considered to be one of the most watchful financial regulators in Europe when it comes to unlawful Forex or binary options brokers. The most recent update of the warning list was made yesterday and the Belgian regulator blacklisted 5 brokers, including binary options and Forex Brokers brokerages:

Company Website (Claimed) Registered Address
Broker Financial Ltd / Invest-Option London, United Kingdom
Central Provider Ltd / Central Option Suite 50, 2 Old Brompton Road, London SW73DQ, UK and 280 Gloucester Road, 2G-42G, Hong Kong
Graham International Ltd / Binat Ltd (Proinvest)  145-157 St John Street, London, EC1V 4PW, England
GN Capital Ltd / PWRTrade No 75518, Trust Company Complex, Majuro, Marshall Islands
Sterling Consultancy Options Ltd (cloned firm) / SC-Options The clone assumed the identity of Sterling Consultancy Options Ltd, a firm with registered offices in Glasgow and Hamilton (22 Arrol Wynd, Cambuslang, Glasgow, G72 7UX, UK, and 8 Douglas Street, Hamilton, ML3 0BP, UK)

If you decide to commit your funds with any broker, it is recommendable to always double check if the broker is not blacklisted. For investors in Belgium, the FSMA advises interested investors to consult the full list of brokers that were warned by the financial regulator.

Will FSMA follow the French regulator?

Recently, the French Authorities proposed to ban Forex and Binary Options online advertising. Considering that the FSMA closely controls the activity of unlawful firms, it is possible that the regulator will take similar steps to further restrict the access of unauthorized firms to the Belgian market.

See also: Nukkleus IronFX acquisition update: New Board of Directors

What is your opinion in regards to Binary Options? Let us know down in the comments section.

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