Binary Options from Royal De Bank and Futur Markets Blacklisted by FINMA

Following a revelation of fake registration addresses in Luxembourg by the local financial authority, Commission de Surveillance du Secteur Financier (CSSF), the Swiss Financial Market Supervisory Authority (FINMA) is the next official regulatory body to scrutinize Royal De Bank and Futur Market. The watchdog has put both binary option brokerages on its negative list of unauthorized institutions.

The list states that both Royal De Bank and Futur Market are not listed in the commercial registry and have no physical presence in Switzerland despite what their websites alleges. In an earlier report by 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 Magnates, we highlighted that the companies have been engaging in questionable business practices, claiming to have offices in Geneva, New York and Bahrain.

The latest confirmation by FINMA clarifies that the companies have no registration status in Switzerland. Both companies have been listed on the French regulatory body “Autorité des Marchés Financiers) AMF of unauthorized websites offering binary options trading, regularly updated by the French watchdog.