Japan's Kanto Bureau adds 7 FX and Binary Options Firms to Warning List

According to information updated on the Japanese regulator's website, the Kanto finance bureau of Japan’s Ministry of Finance (MoF) today added seven firms to its warning list and cited that the entities lacked registration in Japan, while at the same time warning the public in the updated advisory.

The seven firms cited had either made solicitations or offered their services online in Japan and/or in Japanese, and include the following company names and brands or aliases: Trading Point (Seychelles) Limited (XM.com), TO88 LTD. (Trend Option), Star Material Asset Management.LTD (i Trader FX), Gallop Sea Limited (GALAXY Markets), Chemmi Holdings Limited (BinaryTilt), Brilliant Stage Limited (Brilliant One Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term), and BINEXT SOLUTIONS SRL LTD (GBinarys). The entities had addresses listed in the warning from countries including the UK, Marshall Islands, BVI, Romania, and New Zealand.

Firms not regulated in Japan

The agency noted that the information used in the warnings was obtained from solicitation materials, and therefore may be inaccurate while at the same time noting that the companies added to the warning indeed did not have the required licenses in Japan. In addition, investors are able to check on the Japanese Financial Services Authority (JFSA) website to confirm if a company is registered and regulated in the country.

Such warnings from the Kanto finance bureau cite local supervision rules supporting the advisory warning to clients since the firms are not permitting to offer such services without a license in Japan, and as customers are not afforded the protections available to firms properly licensed and regulated in Japan.

In addition, firms on the list may have Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term in other jurisdictions, for example, while this is not sufficient for Japan as no such passports are recognised and firms need to also obtain JFSA authorization in order to do business in the country.