The New Zealand FMA 24Option warning is the latest Forex regulator alert against the Binary Options broker. Why has the New Zealand regulator issued a warning against 24Option?
12 June, 2017 | AtoZ Forex – The Financial Markets Authority (FMA) of New Zealand has published a warning notice for the investors’ community.
The latest warning from New Zealand regulator features the name of the Binary Options brokerage 24Option. The FMA reports that its warning is stemming from the previous regulatory alerts about 24Option.
Previous warnings against 24Option
Previously, the Australian Securities and Investments Commission (ASIC) and the Autorité des Marchés Financiers (AMF) of France have issued warnings against 24Option.
Back in July 2016, the Australian regulator has released ASIC Binary Options Warning. ASIC issued the warning upon its concern of about 40 unlicensed binary options providers or affiliates websites. The warning included a list of binary options providers and websites. 24Option appeared on this list as well. In fact, the company’s name emerged in the list of the firms that have decided to collaborate with the regulator. 24Option agreed to adjust its activities to guarantee that it will not provide financial services in Australia until the firm has acquired the appropriate license or authorization.
Almost a year ago, in August 2016, the French regulator AMF has warned the investors’ community against dealing with 24Option. In its statement from July 29, 2016, the French watchdog said that 24Option did not comply with specific “professional obligations”. The regulator ordered 24Option to abort its operations in France, stop soliciting and accepting new French customers and put existing customers on withdrawal and liquidity mode only.
Is 24Option a reliable broker?
As New Zealand FMA 24Option warning came out, the regulator also specified the details of the brokerage. The Binary Options broker is operating online via https://www.24option.com. The firm is one of the largest Binary Options brokerage in the world. Also, the owner of this Binary Options broker is the company that goes under the name Rodeler Limited.
The New Zealand’s FMA advices citizens to exercise caution when considering the services offered by this broker. Moreover, the FMA notes that 24Option has no registration or authorization to operate in New Zealand.
In fact, the broker possesses the trading license from CySEC with number 312820. However, this does not imply that this Binary Options brokerage can operate in other jurisdictions.
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