New Zealand's Watchdog Warns Against Binary Options Broker Titan Trade

New Zealand’s Financial Markets Authority (FMA) has updated its warning list to include Titan Trade, a binary options broker offering investors the opportunity to trade in a variety of assets including stocks, commodities, currencies and indices.

The inclusion of Titan Trade in the FMA’s warning list follows last month’s addition of InterRock Capital, a brokerage flagged for soliciting its services without a licence.

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No Licence

Titan Trade operates online via the website https://titantrade.com/ and is located at 35 Barrack Road, Belize City, Belize. The brokerage also lists a UK address at 31 Southampton Row, London, UK which serves as a payment service provider but it is not under the jurisdiction of the UK’s FCA.

According to the FMA’s website, Titan Trade is categorised both as an "unregistered business" and a "business to be wary of". This is because businesses or individuals offering financial products or services in New Zealand must be registered on the Financial Service Providers Register (FSPR) and Titan Trade is not.

For this reason, the FMA has recommended that potential investors do not invest money through this business.

ASIC ASIC The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the Read this Term Warning

This is the second time Titan Trade has come up against the financial industry watchdogs. The brokerage was also flagged by the Australian Securities and Exchange Commission (ASIC) last month as a company not to do business with, as reported by Finance Magnates.

The FMA’s updates are part of the watchdog’s attempts to clamp down on unregulated financial services activities where it believes investors may be at risk.

Businesses and individuals highlighted and listed by the FMA if they are not registered to provide financial services in New Zealand, have had the FMA enforce action against them for misconduct, have either not responded or not provided a satisfactory response to a request for information, or have received a warning notice from the FMA.