A new FCA Binary Options broker warning got issued today and traders need to be watchful of Sigma Option. What has the UK regulator discovered about the binary options broker?
19 December, AtoZForex – The UK financial regulator Financial Conduct Authority (FCA) issued a warning against an unregulated financial services provider today. As the FCA is suspicious of Sigma Option's activities and believes that the broker has been targeting UK investors without authorization. Based on these reasons, the FCA issued a warning today against Sigma Option, which offers Binary Options trading services through the website sigmaoption.com.
FCA Binary Options broker warning against Sigma Option
The FCA stated that the firm has no authority to provide financial services to investors in the UK. According to the broker’s website, Sigma Option / BR23 Ltd. operates through the website sigmaoption.com which is owned and operated by BR23 Ltd. Vintage House, 36 – 37 Albert Embankment, London, SE1 7TL, UK. Aside the warning, the FCA has also disclosed the contact details of Sigma Option:
- 20-22 Wenlock Road, London, N1 7GU
- Suite 2, 5 St Vincent Street, Edinburgh, EH3 6SW, Scotland
- First Floor, 85 Great Portland Street, London, W1W 7LT
Additionally, I have tried to reach out to Sigma Option more than once to ask for a comment from them. But nobody answered the phone number stated on their website.
What does the FCA advice?
FCA states that the Sigma Option lacks the proper authorization to be targeting British customers. Additionally, the watchdog states that they strongly advise investors to deal with only financial firms that have authorization. Moreover, the watchdog advises investors to check the Financial Services Register to make sure of the company’s authorization.
Previous FCA warnings that you cannot ignore
Earlier this month, the UK regulator issued a clone entity warning against Algo Capitals. The clone firm presents itself as the legitimate Algo Capital Management Ltd. Moreover, the clone company claims to be a Forex and Binary Options brokerage. Also, the firm claims its address to be the Portland House, Bressenden Place, London, UK. Additionally, the clone firm operates through the website www.algocapitals.com.
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