Switzerland’s FINMA warns of Option888 binaries broker

Switzerland’s FINMA warns of Option888 binaries broker

- in All News, Warnings
Foto: © Philipp ZinnikerFoto: © Philipp Zinniker

The Swiss financial regulator FINMA has issued a warning that the Option888 binaries broker is not listed in the country’s commercial register. The notice refers to Option888 VIP service in particular, but an SMN check revealed the entire brokerage service is not regulated.

Instead, the company operating the site www.option888.com, Capital Force Ltd, has a business address on the Pacific island of Samoa. The company claims it is registered there, but neither its name, nor its registration number checks out in the company registry of the island state.

The broker provides customer service numbers in the UK, Germany, Italy, Austria, Switzerland, Cyprus, Hong Kong and Canada, where, as the provincial regulators already warned, are no regulated binaries brokers. According to the broker’s site, it was founded in 2014, is headquartered in Malta and has offices in Sweden, Germany, Holland, Spain and France. An SMN check did not find neither Option888, nor Capital Force Ltd. on the list of financial services providers registered in Malta.

The broker claims its trading platform has been ranked the best in 2013 and 2014 and is the “go-to binary options brokerage for many investors who are looking for an easier, more effective investment platform offering more binary option versions than anyone else, including stocks, currencies, commodities and indices”.

Oddly enough, however, Option888 is a partner of the Italian football team Bologna FC, which provides a link to www.option888.eu on its site, but the link appears to be dead.

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