June 15, AtoZForex – The Hong Kong Securities and Futures Commission (SFC) has been updating its SFC Brokers warning list. The blacklist contains names of unlicensed Hong Kong-based brokers, which have been soliciting to Hong Kong investors. In the same vein, SFC adds Central Option and Sachs International to its alert list.
Central Option’s unregulated activities
Central Provider Limited, operating as Central Option is a Binary options trading platform provider. The broker claims to be located in Hong Kong, London, China, and Toronto. As it appears, the firm has no license offer any finance related activities across Hong Kong.
Aside being marked on the SFC Brokers warning list, earlier this year Central Option was also alerted by two Canadian watchdogs. Central Option has been blacklisted by the British Columbia Securities Commission (BCSC) for soliciting to BC-based investors. Also, the Manitoba Securities Commission (MSC) found out that Central Option was targeting local investors. Considering that the senior MSC investigator got a call from the unregistered broker suggesting an ‘’amazing investment opportunity’’.
Unregistered broker Sachs International
Sachs International is a commodities options broker and claims to be located in London, England. Sachs International has been recently blacklisted by the Hong Kong SFC. Similar to the case of Central Option, Sachs International also got added to the warning list of the British Columbia regulator. Based on the findings, for promoting its financial services, while not being authorized to do so. Sachs International provides research, media and PR, trading services as well as account opening opportunities.
The commodities broker has been soliciting investors in Hong Kong without any permission from the local Officials. The company uses the bank account in Hong Kong in the name of Citadel Consultancy Ltd to facilitate establishment. As the SFC adds Central Option and Sachs International to its warning list, two more brokers got red-flagged today.
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