30 October, AtoZForex.com, Lagos – The Hong Kong financial regulator (SFC) has bolstered its warning list with the addition of another firm. HongKong ToOptions Limited, is the latest addition to the exhaustive blacklist of SFC.
Why Hong Kong SFC blacklisted ToOptions
The local authority has discovered ToOptions to be operating without due authorization, which is contrary to the binary options broker’s claim to be licensed. Hence, the Hong Kong SFC has not only denied affiliation with this firm, but also warned investors against doing business with the binary options firms.
Hong Kong ToOptions Limited operates via the web address www.tooptions.com and states its address as Unit 17, 9/F, Tower A, New Mandarin Plaza, No 14 Science Museum Road, Tsim Sha Tsui, Kowloon, Hong Kong.
On its website, the company states the following: “From our main office in Australian and Hong kong, we strive to provide our clients with the very best service and the most competitive conditions in the industry. We strive to bring you a user friendly and enjoyable Binary Options trading experience”.
A similar case over recently
Not too long ago, the Hong Kong financial regulator also warned against CMIS Global Limited / CMIS Trader. This firm provides services in a range of financial products including: FX, CFDs, precious metals, futures and indexes. CMIS Global offers these trading products through the MT4 platform.
For registration purposes, the firm stated its address of operations at: Suite 2602-3, BEA Tower (APM), 418 Kwun Tong Road, Kwun Tong, Kowloon, Hong Kong. However, the SFC has discovered that the firm is actually not located at the mentioned address. Therefore making its operations in Hong Kong illicit.
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