Breaking: A Dozen Unregulated Binary Options Brokers Bank Accounts Frozen, May Face Closure

Approximately a dozen Israel and Cyprus-based binary options brands are in the process of freezing or closing their corporate bank accounts without prior warning, according to reports from several independent sources made directly to 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. The brokers in question are unregulated, and mostly target the French market. Forex Magnates has learned that in several cases the step was preceded by clients’ complaints.

This report comes amid constant warnings by financial watchdogs against unregulated binary options trading providers. In May, The French financial regulator, the Autorité des Marchés Financiers (AMF), issued an updated list of binary options providers who are unauthorized in France. The AMF accuses the brokers of aggressive internet advertising campaigns, which claim to offer exceptionally high yields in very short periods of time.

Forex Magnates is working to verify more details, including the names of the brands and will update accordingly.