In one of the more interesting Forex Industry News weeks of the year, we reported on angry clients taking employees of a Forex brokerage hostage in Shanghai - an episode which lasted a full five days. We also had more standard stuff - FX broker results and analysis, a major Forex Sports Sponsorship announced, management…
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Cyprus financial regulator CySEC has issued another warning against impersonators trying to use CySEC credentials in order to scam money from traders and investors. We had reported on previous such warnings on several occasions. Most recently in October, CySEC reported that it became aware of an unknown company based in the Caribbean which was presenting itself as…
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LeapRate Exclusive... LeapRate has learned that the new binary options industry association EUBOA held its third board meeting last week, this time in Israel. The first two EUBOA meetings, exclusively reported by LeapRate, took place in Cyprus. The EUBOA founders - which include some of the leading regulated binary options brokers and platform providers -…
Read moreBelize financial regulator IFSC (International Financial Services Commission) has announced that BDB Services (Belize) Limited, the Belize subsidiary of binary options broker Banc de Binary, is no longer licensed by the IFSC due to non-compliance to some conditions, without giving further details. The IFSC put out the following warning notice on the matter, which can also be…
Read moreAs pressure mounts on unregulated and improperly regulated binary options firms from well documented public outcry, we learned over the weekend that Premier League squad Southampton FC has backed out of a recently signed marketing deal with binary broker Banc de Binary. Banc de Binary in the past has been fined upwards of $11m from…
Read moreThe purpose - save the Binary Options sector, move trading volumes to regulated brokers
Read moreASIC has warned of a dramatic increase in the extent of unlicensed conduct by retail OTC derivative providers seeking to expand their market with new customers for their complex and risky products such as binary options. ASIC has raised its concerns with more than 40 unlicensed providers. The majority are binary option issuers but also…
Read moreThe US Securities and Exchange Commission (SEC) today confirmed LeapRate's earlier report (from February 26) that it had reached an $11 million settlement with unregistered binary options broker Banc de Binary. However the SEC noted that some impersonators claiming to be affiliated with the SEC or other government agencies have recently been contacting harmed investors…
Read moreThe Wall Street Journal has reported that binary options broker Banc de Binary has agreed to an $11 million settlement with U.S. authorities, following allegations that Banc de Binary illegally signed up U.S. investors to its binary options trading platform. The CySEC-regulated company, which also has operations in Israel and the Seychelles, reached the agreement after being…
Read moreWe said that this was coming. Following a wave of reviews of some of the largest Cyprus-based regulated forex and binary options brokers undertaken by financial regulator CySEC over the past few months, we reported in late November on a number of fairly large (by Cyprus standards) > €100,000 fines and settlements issued to a…
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