Swiss FINMA adds binary options broker TradeSolid to Warning List

The Swiss Financial Market Supervisory Authority (FINMA) on Thursday updated its Warning list, which contains the names of companies that might be operating without a licence although their service requires authorisation and should be supervised by FINMA.

The latest addition to the list is TradeSolid, a binary options broker, offering its services via The company claims to be headquartered in the UK and to have branches in Hong Kong and Switzerland. The latter claim must have drawn the attention of the Swiss regulator.

FINMA notes that when it receives information that a provider, consciously or not, is operating without authorisation, it launches an investigation into the matter. If initial suspicions are confirmed, FINMA can initiate enforcement proceedings and impose measures of varying severity, including closing the company down.

To view FINMA’s warning against TradeSolid, click here.

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