Hong Kong financial regulator SFC has issued a warning regarding Up & Down Marketing Limited, the parent company of binary options broker OneTwoTrade.
OneTwoTrade operates from website onetwotrade.com and shows having addresses at Cobalt House, Level 2, Notabile Road, Mriehel, Birkirkara BKR 3000, Malta and 6 Thomas More Street, London, E1W 1 YW, United Kingdom.
According to the SFC, OneTwoTrade in not licensed in Hong Kong and appears to target Hong Kong investors. OneTwoTrade has previously received similar warnings from Ontario financial watchdog OSC and from Australia’s ASIC, for improperly targeting traders in those jurisdictions.
The SFC notes that unlicensed entities often use names similar to legitimate companies to confuse investors.
The complete Hong Kong SFC ‘Alert List’ can be seen here.