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Screenshot of a breaking news alert e-mail from Q2 2017
Hong Kong’s Securities and Futures Commission (SFC) has earlier today added one more company to its Alert List, which includes the names of firms that are not authorized in Hong Kong but nevertheless target Hong Kong investors.
The newest addition to the Alert List is HongKong Tooptions Limited, a company operating via www.tooptions.com. Through this website, the company offers a range of binary options trading services.
The company says it has the following address: Unit 17, 9/F, Tower A, New Mandarin Plaza, No 14 Science Museum Road, Tsim Sha Tsui, Kowloon, Hong Kong. However, the regulator notes that the broker is not located there.
Investors are urged to exercise caution, as this entity is unlicensed to market its services in Hong Kong. Furthermore, the SFC notes that unlicensed entities often use names similar to legitimate companies to confuse investors – a practice known as cloning.
To view the full Alert List on the website of the Securities and Futures Commission, click here.