Japan’s Watchdog Warns Against FXDD, XM.COM, Tradeview and OptionRally

The Kanto finance bureau of Japan’s Ministry of Finance (MoF) has updated its warning list to caution potential investors against trading with several 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 binary options brokers, including some firms authorized by well-known regulators in other jurisdictions.

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The new blacklisted companies include some famous brands such as FXDD, XM.COM, TRADEVIEW MARKETS, among many others.

The firms on Kanto’s 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, but this is not sufficient as no such passports are recognised and firms need to also obtain JFSA authorization in order to do business in Japan.

Additionally, Kanto added additional binary options brokers to the list as part of the agency’s ongoing attempts to clamp down on unauthorised trading. OptionBit, OptionRally, Speed ​​Option and ROYAL OPTION are the latest binary options brands to be added to Kanto’s caution list.

The firms cited have either made solicitations or offered services online in Japan and/or in Japanese while not being permitted to do so. Japanese customers of these firms are not afforded the protections available to customers of firms properly licensed and regulated in the country.

The Japanese watchdog confirmed that registration under the Financial Instruments and Exchange Act is required in principle, even for overseas operators, for offering financial instruments for Japanese residents or for transacting with them as counterparties.

The agency noted that the information used in the warnings was obtained from solicitation materials, and therefore may be inaccurate. 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.

The latest warning, dated June 9, includes the following names: