FCA has issued yet another warning against an unregulated Binary Options firm. Now, the CWA Options is under the spotlight. Is CWA Options scam or reliable?
29 March, AtoZForex – The UK financial regulator, Financial Conduct Authority (FCA) has warned investors’ community in the UK against the unauthorized company. The UK watchdog brought to the public attention the name of the Binary Options firm CWA Options.
Is CWA Options scam or reliable?
The UK financial markets regulator claims that CWA Options has been providing financial products and services to the UK residents without any authorization to do so. Thus, the FCA has cautioned investors against dealing with this firm.
The Binary Options brokerage is operating online via https://cwa-options.com and www.cwaoptions.com. The regulator has published the following address, referring to the fraudulent firm: 122 Leadenhall Street, London EC3V 4AB. CWA options displayed the phone numbers 020 7060 6358 and 020 3733 1271 on their official website. Moreover, the firm has listed a long list of emails.
After visiting CWA Options’ website, I did not find the proper licensing proof. The UK regulator has highlighted that according to the current Binary Options regulations in the UK, CWA Options should possess the license from the UK Gambling Commission. However, this license neither was found.
High growth in Binary Options related enquiries
In the end of last month, the FCA has reported a significant increase in the Binary Options related enquiries. The UK watchdog has published a report, which highlights that the Binary Options were the type of investment products that experienced the most growth in enquiries for the period from December 1, 2015, to November 30, 2016.
As per the official FCA report, Binary Options investment products related enquiries totaled at 17%. Other investment products, such as shares, Forex, and bonds, stood at 14%, 13%, and 10%, respectively. The report states that the clients were mostly contacting the FCA to double check the reliability of the Binary Option firms.
Additionally, the regulator reminds investors that almost every firm and individual intending to offer financial services and products across the UK has to have the FCA license. Moreover, the financial authority stresses that while dealing with unregistered firms, investors will not be protected by the regulator.
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