Buyer Beware: FXStreet Clone, FXstreetoption.com Springs up in Bulgaria

With many market participants still picking up the pieces from the CHF tempest, FX and binary scammers were out in full force, this time targeting FX media outlet FXStreet, launching a fraudulent site tapped FXstreetoption.com.

The overt use of FX clones and other deployment of seemingly ‘reputable’ entities in the binary options industry has certainly become a widespread pandemic leading into 2015. This is the first such instance targeting FXStreet, with the company maintaining it has nothing to do with FXstreetoption.com.

FXstreetoption.com users have already reported the seizure of client funds with deposits that have not been returned. Presently, Fxstreetoption.com is operated by Absolute Entrepreneurs Ltd, 17A Simeonov vek street, Fl. 5, App. 25. Sofia, Bulgaria 1142 and is set up on a white label with SPOTOPTION.

According to Carolina May, CEO of FXStreet, in a recent statement to Forex Magnates, “We want to make sure that traders make informed decisions when choosing a broker. In this sense we feel important to let people know we have nothing to do with this company. We are in touch with lawyers in Bulgaria and will proceed to take necessary actions in order to keep our brand clean. As an independent portal we don't provide trading services and all links to opening accounts are done through advertising deals.”