Industry Insights

Canadian Securities Administrators (CSA) Logo

Canada Bans Binaries

Congratulations to Canada, which has now become the latest country to adopt regulations that are designed to cripple fraudulent online binary options schemes.

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What Does the UK Regulator Say about Unlicensed Forex Brokers?

The FCA warns that many bogus trading and brokerage firms claim to be licensed to conduct business in the United Kingdom when in fact they are not. Others may usurp a real firm registration number (FRN), corporate address and names of employees of a legitimate company that is indeed are FCA authorized. These are known as “clone firms.”

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Financial Services Board (FSB) Logo

Are Unregulated Forex Brokers Targeting South Africa?

Following a series of complaints, South Africa’s Financial Services Board (FSB) has found that a local forex trading platform has been operating even though it never conducted any trading. Approximately 3,000 people had paid 52 million rand into what they believed was a legitimate brokerage but, in reality, was a Ponzi scheme.

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Singapore Police Force logo

Is Sinagpore Cracking Down on Binary Options?

The Monetary Authority of Singapore (MAS) reports that more than 40 Singapore residents have reported losses in excess of $1.7 million after being lured to take part in unregulated binary options trading. One of them lost $693,000 of that total. The smallest sum lost was $250.

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A Warning from the FBI

The Federal Bureau of Investigations isnt known for mincing its words. Today it issued a blunt announcement that binary options fraud is a growing problem and one that the FBI currently has in its crosshairs.

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Beautiful city before the rain

Go After These Guys

Last December, just before Christmas, a Canadian retiree and father of four named Fred Turbide entered his Edmonton, Alberta garage and shot himself to death. He entrusted his entire life savings to an unlicensed and unregulated online binary options broker and lost it all.

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