3 March AtoZForex.com, Lagos –The Japanese regulators have again displayed their no-nonsense approach towards activities of Forex and Binary Options brokers operating within its region. In the latest case, the FSA warning list now includes three firms: BitPlutos, DashOption and FXDD, with FXDD being the most striking name on the list.
BitPlutos has a website with multiple language functionality, incuding Japanese, German, Polish, Russian and English. On its web page, it claims to be the first ever binary options platform. It is also stated that: “BitPlutos is a brand operated by Exclusive Ltd, a EU company with REID number: GICO.109205-40, located at 50 Town Range, Suites 7b & 8b, Gibraltar.”
DashOption is also a binary Options trading platform. This firm seems to be more concerned with Asian clients, claiming operations in China, Honk Kong, Japan, Philipines and the UK. It also states its business address as: Address: United Kingdom: 159, Kenmore avenue Harrow England HA3 8PB. Without making specific mention of its regulatory license number or region, it claims on its website that:
"DashOption complies with regulatory capital requirements. No leverage, zero spread, consistent payouts and personal account managers to assist your trading 24/7."
The most interesting addition to this list by the Japanese regulators is FXDD. The broker is a well known regulated firm, however, it is apparent that its regulation does not adequately cover its operations in the Japanese region. This should be a major concern for the firm as data shows that the major bulk of its traffic comes from the Japanese region, with over 34% of overall visitors to its website coming from Japan for the last three months. With its multi-language website, a major attraction for these Japanese visitors seems to be its Japanese language trading blog on www.fxddjpblog.com, which provides a platform for easy support and customer information to traders.
This firm has been in the news lately for a different unrelated matter. After Joseph Botkier, the chief operating officer of retail broker FX dealer direct, FXDD CEO is charged with assault after an alteration with his wife. He was arrested by the police and subsequently charged with assault and possession of a gun after the incident. FXDD is Headquartered in Malta, offer trading solutions to individual and institutional traders, hedge funds, money managers, white labels, and introducing brokers.
These firms have now been included in the FSA warning list, hence, individuals and businesses in Japan are cautioned against dealing with any of these firms,
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