The Swiss Financial Market Supervisory Authority has warned the public against Swiss Royal Banc. What are the reasons behind?
27 October, AtoZForex – The Swiss Financial Market Supervisory Authority (FINMA), the financial regulator of Switzerland, has added another Binary Options brokers to its warning list, as Swiss Royal Banc was blacklisted by the watchdog.
Swiss Royal Banc activities
The firm under the spotlight is Swiss Royal Banc, which is a Binary Options online trading platform, operating online via swissroyalbanc.com. The firm is offering a range of financial services on the website, including the trading platform, the education, the research and the access to trading Currencies, Commodities, Indices, and Stocks.
The firm is appearing to be owned and operated by GreenTree Holdings at the following address: Office 7,35-37 Ludgate Hill, London, ECM4 7JN, UK.
Why did the warning take place?
The firm has been added to the warning list of FINMA, where one of the possible reasons for this could be the name of the online trading platform. The firm’s name is reportedly misleading as it contains word Swiss, where the company is not incorporated in Switzerland and the word bank, where it is not one.
However, in the footnote section of the Binary Options online trading platform the following can be read:
“Swiss Royal Banc is not a commercial bank and it is not incorporated in Switzerland.”
AtoZForex has reached out to the regulator for further comments, and currently, is waiting for the official response. We will update you as soon as we get the information.
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