The Cyprus Securities and Exchange Commission (CySEC) today issued a public warning against dealing with binary options broker TD Options Limited.
The watchdog cautions investors that the company is not authorized to provide investment and related services in Cyprus, pursuant to Investment Services and Activities and Regulated Markets Law. That is because the broker was never authorized by the CySEC nor by any other member state of the EEA, and is neither a bank or a cooperative firm, established in the Republic and authorised to provide such services.
The website of the broker (www.basicventure.com/abouttdoption), which is obviously targeting English-speaking traders, along with investors in China, Hong Kong and Malaysia, offers misleading information about a license obtained from CySEC. You can view a screenshot displaying the “certificate” with the old CySEC logo on it.
As usual, the regulator urges investors, before conducting business with Investment Institutions, to consult its website to check whether the entities are authorised to provide investment services in the Republic.
The official announcement by the Cypriot regulator can be read here.