5 October, AtoZForex.com, Lagos – Fundsaver has had an ample dose of negative PR lately, judging from the consistent warnings against the firm from The Cyprus Securities and Exchange Commission (CySEC).Marking already the third CySEC warning against Fundsaver.
CySEC has again published another warning against a Fundsaver Services Ltd subsidiary. This warning is against EveryOption, a binary options outfit owned by Fundsaver. Apparently, EveryOption is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:
- It has never been authorized by the Commission
- Ιt is not a bank or a cooperative firm, established in the Republic and unauthorized to provide such services.
- No notification has been received by a competent authority of another Member State,
The bottom line is that it Is not regulated by the Commission.
An earlier warning against Fundsaver was against the 500option brand. The regulators clearly stated that 500options has never been authorized by the Commission. Ιt is not a bank or a cooperative firm, established in the Republic and authorized to provide such services. No notification has been received by a competent authority of another member state, pursuant to sections 77 and 80 of the Law.
The firm claims to have been formed by a group of traders, investors and technology experts, who have combined their skills and knowledge of the highly exciting financial market. In order to build a company of excellence. The regulator has warned the public not to risk doing business with such a firm, irrespective of its claims. Hence, prompting the warning against 500option and Fundsaver.
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