The binary options broker is targeting Japanese investors without being authorized by Japan’s regulators, the Financial Services Agency warns.
Japanese regulator warns against BinaryFX
Japan’s Financial Services Agency (FSA) has updated its list of investment companies that are not authorized to target Japanese clients but nevertheless do so.
The latest addition to the list is BinaryFX, a binary options broker operating via https://www.binaryfx.info.
The watchdog states that the company lacks the necessary authorization to provide OTC derivatives trading services to Japanese clients – and we should recall at this point that binary options are treated like financial instruments in Japan and require obtaining specific licenses from Japanese regulators. The requirement applies to overseas brokers that wish to offer their services to Japanese investors too.
Talking of regulation of binary options in Japan, let’s also mention that short-term options are not allowed, but BinaryFX is offering options with expiries of 60 seconds. This is another example of inconsistencies with Japanese laws.
To view the original text of the warning at the website of Kanto Finance Bureau, click here.
For the full list of unauthorized binary options brokers in Japan, click here.
David Hobart
David Hobart is Managing Director of FinAffiliates Limited, the UK media group behind LeapRate, AskTraders and a network of more than 30 financial and trading titles published across several languages and regulated markets. He writes on the commercial side of the industry: broker marketing, client acquisition, affiliate strategy and the editorial standards that hold it together. He is based in North Norfolk.
