Russia’s Commission for the regulation of relations in the financial market (KROUFR) keeps updating its “Black List” of companies that exhibit characteristics of investment scams.
The latest addition to the “Black List” is Interactive Option, a binary options firm registered in Cyprus.
KROUFR has received numerous complaints from clients of Interactive Option regarding unfair practices concerning their accounts and funds.
Early this month, the Cyprus Securities and Exchange Commission (CySEC) has announced another extension to the suspension of the Cyprus investment firm (CIF) license of Pegase Capital Limited, which owns the Interactive Option brand.
The regulator initially suspended Pegase Capital’s license on March 4, 2016, referring to numerous numerous violations of Cypriot investment laws. In November last year, CySEC imposed a fine of EUR 300,000 on the broker.
Interactive Option has sparked concerns of other regulators too. The British Columbia Securities Commission (BCSC) has warned against the binary options firm, saying it is not allowed to target BC investors.