Japan’s FSA warns of unauthorized broker Binary777

Japan’s Financial Services Agency (FSA) today updated its list of companies that offer trading in derivatives to Japanese clients without having the necessary authorization.

The latest addition to the warning list is binary options broker Binary777 (also presenting itself as Binry-777), operating via www.binary-777.com/ja/.

As per Japanese laws, binary options are treated as derivatives and providers of such services are required to obtain registration in Japan. The requirement also concerns overseas businesses that wish to offer binary options trading to Japanese clients. As Binary777 is not authorized, it made it to the warning list.

logoOne more thing to note about the menu of trading instruments on Binary777’s website is that it includes short-term options with expiry times of 60 seconds. The latter are banned under Japanese laws.

The Kanto Local Finance Bureau, which works along the FSA regarding investment caution lists, reiterates that customers should not respond to solicitations from businesses and individuals that are not authorized to provide the respective services in Japan.

To view the full text of the warning (in Japanese), click here.

To view the full list of unlicensed businesses offering derivatives trading to Japanese clients, click here.

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