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
The Swiss Financial Market Supervisory Authority (FINMA) has just updated its warning list and the newest additions include binary options broker Get Binary.
The company, which is not included in the Commercial register and is not authorized to offer investment services in Switzerland, is nevertheless targeting Swiss investors. The Customer support phone numbers include one in Switzerland – a fact that partially explains the regulator’s concerns.
Get Binary offers binary options trading services from https://www.getbinary.com/. The firm claims to have a main office in the UK, but this still does not mean that the broker is regulated there. In fact, there is no such name on the list of the Gambling Commission, which is (still) the body responsible for regulating binary options providers in the UK.
FINMA reiterates that the fact that a company is on the warning list does not automatically mean that its activities are unlawful. However, by including companies like this in the list, FINMA is highlighting the lack of authorisation of the respective entity.
To view the full Warning List, click here.