Brokers News 

One year after binary options ban implementation, fraudsters keep targeting Belgians

“Apparently, however, this fraudulent approach continues to be widely adopted amid binary options firms” reports financefeeds.com. Binary options brokers like Stockpair, for instance, have continued to promote their offering via football partnerships on their French-language website.The latest additions to the Belgian black list of binary options firms that illegally target Belgian residents features nine websites.Some binary options brokers have chosen to switch to other fraud areas, like diamonds and rare earths scams.A year has passed since Belgium implemented drastic measures with regard to certain online trading instruments, including a ban…

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UK Financial Ombudsman reports no foreign currency enquiries received from consumers in April-June 2017

“The zero such enquiries for the period in question compare to 252 foreign currency enquiries received during the whole year to March 31, 2017” reports financefeeds.com. The UK Financial Ombudsman Service reports no enquiries about foreign currency products & services were received from consumers in the quarter from April 1, 2017 to June 30, 2017, according to the latest statistics published by the body today.Consumers have been contacting the FCA mainly to verify whether firms offering binary options are regulated. Source: financefeeds.com Share This:

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Futures News 

Florida court issues order for preliminary injunction against binary options fraudsters

“Defendants Jason B. Scharf, A&J Media, Michael Shah, and Zilmil consented to the entry of the order for preliminary injunction, whereas defendants CIT Investments, Brevspand, and CIT Anguilla have failed to appear or show cause why a preliminary injunction should not be issued against them” reports financefeeds.com. The fraudulent practices of the above-mentioned binary options firms included promises of artificially high returns, bonuses and happy life.Zilmil, which directed customers to binary options websites, for instance, sent more than 60 million fraudulent emails to more than 1.4 million unique email addresses…

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Number of newly registered Scottish Limited Partnerships, often used as binary options fronts, declines

“A report by the Scottish Herald from May this year claims that 43 Scottish shell companies act as corporate fronts for binary options sites” reports financefeeds.com. As FinanceFeeds has noted in earlier reports, SLPs are often used as binary options fronts.In November last year, the number of SLPs fronting for binary options websites was around 30. Source: financefeeds.com Share This:

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Markets News 

Binary options crooks run Israel’s government: Largest binary options market maker is prominently involved in ruling Likud party

“It also explains why the response given to anyone who questions binary options firm owners is often peppered with threats of physical retribution, with no consequences” reports financefeeds.com. Instead, binary options in its OTC form bears no relation whatsoever to genuine financial markets activity.Once again, this entire structure, if accurate, reflects the findings of former US secret agent Haggai Carmon, who described the operations of binary options firms as being similar to terrorist and espionage entities in the way that they layer their organizations, without any retribution from the authorities.When…

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Israel’s long-awaited ban on binary options is absolute hogwash and smacks of corruption

“Binary options companies, 90 percent of which, Mr Carmon estimates, operate from Israel, similarly hide behind layers of false identities” reports financefeeds.com. Mainstream news sources have made large investigations into the activities of these brands and their respective platform providers which are also market makers, as absolutely no binary options business has any connectivity to a live market.In essence, had this gone ahead properly, it would have put a complete stop to any Israel-based entity doing any binary options business anywhere in the world, from anywhere in the world.The sheer arrogance…

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Apple, Google Block Binary Trading Apps Over Scams

“Apple and Google just pulled 330 hundred binary option financial trading apps from their app stores after discovering they were scams” writes Jeff Gamet for macobserver.com. Apple has since updated its developer guidelines to prohibit binary options trading apps, according to Bloomberg.Trading binary options is legal and common, but in the case of the pulled apps was used as a ruse to steal money from victims.In simple terms, binary options are bets on whether or not stock shares and currencies will be above a certain value at a specific time.The…

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Apple Removed Some Risky Trading Apps From App Store in Accordance With New Guidelines

“Apple and Google have recently removed over 300 binary options trading apps from the App Store and Google Play store respectively, according to the Australian Securities and Investments Commission A spokesperson for Apple said it removed the apps globally in accordance with its recently updated App Store Review Guidelines MacRumors easily discovered at least five apps that still appear to facilitate binary options trading on the App Store” writes Am Pdt for macrumors.com. Apple’s guidelines clearly state that binary options trading apps are no longer permitted on the App Store,…

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Bank of Russia prepares framework distinguishing binary options from derivatives

“Russia, where the binary options segment is not regulated, is a lucrative target for binary options fraudsters” reports financefeeds.com. The document will cover the binary options problem, as binary options have to be differentiated from the “normal” financial derivative instruments.That is why, the Bank of Russia plans to outline a framework for legislative changes concerning the regulation of derivatives.One of the problems highlighted by the official is that binary options in theory are like financial derivatives but in practice work like gambling instruments.Speaking to Financial One magazine, Mr Lyakh confirmed…

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Abuses Hide in the Silence of Nondisparagement Agreements

“Caldbeck worked at Lightspeed Venture Partners, he attended board meetings at the e-commerce company Stitch Fix, on behalf of the firm” writes Katie Benner for nytimes.com. They are increasingly found in standard employment contracts in many industries, sometimes in a simple offer letter that helps to create a blanket of silence around a company. Source: nytimes.com Share This:

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