Cypriot regulator warns of unauthorized binary options broker TradersKing


The Cyprus Securities and Exchange Commission (CySEC) today published a warning regarding binary options broker TradersKing.

The company, offering its services via www.tradersking.com, claims to have “sister offices in Cyprus and Holland” but CySEC notes that the broker is not authorized to provide investment services in Cyprus. The watchdog notes that it does not regulate TradersKing and has not regulated it ever before.

cysecLet’s mention here that Cyprus treats binary options as financial instruments and demands from binary options brokers to obtain licenses of Cyprus Investment Firms in order to provide such services in the country.

On the “Contact Us” page of its website, the broker says it has addresses in the UK and Anguilla. The FCA register for UK financial services firms shows no results for TradersKing – hence, the company has no registration in the UK either.

CySEC encourages investors to consult its website to check whether a given investment firm is regulated.

To view the official text of the warning (in Greek), click here.

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Cypriot regulator warns of unauthorized binary options broker TradersKing

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