News 

FCA to include binary bets in “designated investment” definition

“Binary options are also regulated as investment products in many other European Union (EU) countries” reports financefeeds.com. The FCA has earlier this year confirmed that it will be supervising firms offering binary options from January 3, 2018.This is about to change, as, effective January 3, 2018, the the definition will be updated to refer to binary bets.If they are, they will appear on the FCA Register of financial services firms. Source: financefeeds.com Share This:

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UK clampdown on binary options continues, as Metro Options gets wound up

“The UK authorities continue their onslaught against binary options firms, with Metro Options Limited (Metro Options) being the latest fraudulent binary options firm to be wound up” reports financefeeds.com. At the end of October, the UK High Court wound up binary options scam firms behind Magnum Options, following an investigation by the Insolvency Service.And early this month, the UK Insolvency Service announced that two binary options firms – Right Corp Limited and Curve Point Limited, had been placed in provisional liquidation.The website and company sales representatives offered members of the public…

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Binary options remain among key enquiry topics for Spanish investors, CNMV data show

“The FCA has reiterated its warning about binary options scams and the high risks associated with trading binary options” reports financefeeds.com. In the UK, the Financial Conduct Authority (FCA) is about to take over the regulation of binary options firms but protection is set to remain limited, as there will be no compensation for investors for any losses from trading binary options. In the UK, a total of 2,065 people have reported being a victim of binary options fraud to Action Fraud since 2012, with the amount lost exceeding £59…

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Markets News 

British FX hedge fund managers favor ICOs because they remove binary options fraudsters from electronic trading

“ICOs are the absolute antitheses of anything that relates to genuine financial market investment, or established methods of private equity” reports financefeeds.com. This removes them entirely from any association with financial markets.Unlike the street culture and violent behavior of the binary options rabble, London’s astute, experienced and often highly educated hedge fund managers are of the absolute opinion that by natural progression, something else will rise up and they will seize that instead. The next step is to stop our own fraternity, be it media, marketing or branding, from placing…

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Crypto News 

FCA Takes Charge of Binary Options, Warns Against Crypto CFDs

“According to the FCA, there are major concerns associated with binary options trading” reports financemagnates.com. The UK FCA has issued a communique highlighting that it is taking over the regulation of binary options starting from 2018.The regulator highlights that not only do the majority of consumers lose money while trading the product, but that binary options also cause clients to become addicted.Elaborating on the potential for fraud and the conflicts of interest between clients and their brokers, the FCA highlights that since 2012, binary options fraud has caused 2,605 victims…

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Binary options regulation in the UK to change from Jan 2018 but protection to remain limited

“The FCA reiterates its warning about binary options scams and the high risks associated with trading binary options” reports financefeeds.com. Today’s FCA warning about the binary options was accompanied by one about cryptocurrencies, indicating that, exactly as FinanceFeeds predicted, the FCA lumps cryptocurrency investment into same category as binary options fraud.From January 3, 2018, firms offering binary options will be authorised and supervised by the Financial Conduct Authority.And early this month, the UK Insolvency Service announced that two binary options firms – Right Corp Limited and Curve Point Limited, had…

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GMO Click Securities to retire GMO-FX Dash mobile app

“GMO Click Securities, a part of GMO Internet Inc. (TYO:9449), has delivered a somewhat surprising announcement to its clients, as the company said it would stop supporting the GMO-FX Dash mobile app” reports financefeeds.com. Talking of mobile apps, let’s recall that GMO Click’s binary options mobile apps were affected by the latest changes in the policy of Apple’s App Store .The announcement by GMO Click Securities concerning its binary options mobile apps came along with one from YJFX, a subsidiary of Yahoo Japan Corporation (TYO:4689).That is why, GMO Click is…

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UK High Court winds up binary options firms behind Magnum Options

“The UK High Court has wound up binary options scam firms behind Magnum Options, following an investigation by the Insolvency Service” reports financefeeds.com. Hampshire Capital, followed by Solaris Vision Ltd, operated using the brands Magnum Options and Magnum Options EU, via a trading platform, using the websites www.magnumoptions.eu and www.magnumoptions.com.The websites, offering binary options trading, made numerous claims as to possible investment returns, with an 81% return rate per trade typically touted.Neither of the binary options firms cooperated with the investigation.These companies targeted customers worldwide, giving the impression that they…

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Judge denies CFTC request to drop mediation in binary options fraud case

“Scharf et al (3:17-cv-00774), include Jason B. Scharf, doing business as Citrades.com and AutoTradingBinary.com, his companies CIT Investments LLC, a Nevada limited liability corporation; Brevspand EOOD, a Bulgarian business entity; CIT Investments Ltd., a Marshall Islands business entity; CIT Investments Ltd., an Anguillan business entity; and A & J Media Partners, Inc., a California corporation” reports financefeeds.com. According to the CFTC allegations, from June 2013 through the present the Citrades Defendants ran a massive scam in which they fraudulently solicited customers to enter into illegal, off-exchange investments in binary options. Source:…

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CFTC asks Florida Court to withdraw binary options fraud case from mediation

“Of those funds, $7,381,148.82 were in accounts of the Zilmil Defendants, and $217.46 were in accounts of the Citrades Defendants” reports financefeeds.com. According to the allegations, from June 2013 through the present the Citrades Defendants operated a massive scam in which they fraudulently solicited customers to enter into illegal, off-exchange investments in binary options.The legal proceedings in the binary options fraud case captioned Commodity Futures Trading Commission v. Source: financefeeds.com Share This:

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