LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Earlier today, Japan’s Financial Services Agency (FSA) published an updated list of financial services providers offering their services to Japanese investors without authorization.
The latest addition to the list is binary options broker TFO (aka TFO Administration Office) which operates via https://www.tfo2580.com.
The company targets Japanese clients, without the proper authorization to do so and the regulator warns that much of the information regarding the address and registration of the broker may be incorrect.
A couple of things to note here: even if a binary options broker is registered overseas, if it wishes to offer its services to Japanese investors, it has to obtain necessary licenses with the Japanese regulators.
One more thing to mention is that the lineup of binary options that can be offered to Japanese clientele is restricted by the law – it prohibits short-term options. But TFO promotes 60-second binary options on its Japanese website, in breach of the regulatory requirements.
Japan’s FSA is very active in updating its warning list when it comes to binary options providers. Earlier this month it warned of BinaryFX .
To view the full text of the warning against TFO, click here.
To view the latest version of the warning list composed by Japan’s FSA, click here.