Swirzerland’s FINMA adds binary options company Bloombex Online to warning list

Swirzerland’s FINMA adds binary options company Bloombex Online to warning list

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Switzerland’s financial watchdog, the Financial Market Supervisory Authority (FINMA), has included binary options company Bloombex Online to its warning list, according to data from the regulator’s website.

The company operates via the websites www.bloombexonline.com and www.bloombex-options.com, the FINMA added. No further details were provided, nor did the regulator explain its motives for the warning alert.

Bloombex Online is a Swiss-based provider of platform for trading with binary options on more than 80 instruments, including forex, stocks, indices and commodities. It operates a single subsidiary – Bloombex Options.

The inclusion of Bloombex Online into the FINMA’s warning list might mean the regulator suspects it operates in Switzerland without the required authorization. The local regulation forbids entities to target Swiss citizens without the proper license. If the watchdog finds a company is in breach with the laws, it can initiate an enforcement proceeding and impose measures, such as closing the entity down.

Investors can look up whether an entity is licensed or not on the FINMA’s website. The regulator keeps a register with licensed investment service providers and a separate one with unauthorized companies.

We strongly advice you to be cautious regarding your investments and to only choose brokers and investment companies that are regulated by reputable financial watchdogs, such as the CFTC, CySEC, FINMA, FCA, etc.

Source: FINMA

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