Is your broker regulated? IFSC unveils BinaryOptionInvestors false claims

The recent report of the IFSC unveils BinaryOptionInvestors false claims. What are those fake statements? Why is it so important to trade with the regulated broker?

19 October, AtoZForex – The Belizean regulator, International Financial Services Commission (IFSC), has recently reported that the brokerage BinaryOptionInvestors Inc is providing deceptive information. In particular, the company claims to be located at the address Leninsky Prospekt 34 Moscow Russia 117912 and to hold the license issued by the IFSC. However, these statements are false.

The Belizean regulator

The IFSC is a self-regulatory authority that supervises non-banking sector in Belize. It issue licenses to international services providers in order to guarantee that only ‘fit and proper persons’ are permitted to offer, perform or transfer international financial services in or from Belize. Also, the regulator is now creating a statutory Code of Conduct for international financial service providers with the aim to guarantee that the companies comply with internationally approved practices.

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IFSC unveils BinaryOptionInvestors false claims

According to the IFSC, BinaryOptionInvestors Inc. does not hold the license of the regulator or of any other regulatory authority in Belize. Therefore, the company is not authorized to engage in any type of trading business. Furthermore, the Belizean regulator has reported that the Licence No. IFSC/60/138/BCA/10 indicating the IFSC’s name and claiming to be signed by Mr. Gian C Gandhi, the former Director General of the IFSC, is a counterfeit.

Prior to this warning, the regulator terminated the license of BDB Services (Belize) Limited, the Belize subsidiary of Binary Options broker Banc de Binary. The license was revoked due to the fact that the brokerage did not adhere to some terms indicated in the annex attached to the license issued. The regulator’s report states that BDB Services Limited “is no longer licensed by the IFSC due to non-compliance with some conditions, without giving further details.”

Consequently, the IFSC advises investors to be wary of using services of BDB Services Ltd as well as of BinaryOptionInvestors Inc.

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