UK’s Financial Conduct Authority (FCA) has issued a warning that the Limited Binary binaries broker is not authorized to offer its services in the UK, but has been targeting people in the UK nevertheless.
According to its website, www.limited-binary.com, the binaries broker is located in London, right behind the Tower of London. Its website is in French only and the language setting button does not work. Neither do the links to the broker’s social network pages.
At the bottom of the site the broker claims it has 23 585 traders, of which 17 596 are winning. Limited Binary claims it is registered with the FCA with the number 45796, but an SMN check in the Financial Services Registry revealed it was assigned to one Caroline Powell, who used to work for the company Advice Times, but is no longer working there.
Also at the bottom the Limited Binary site designer has deemed appropriate to place some smudgy decals promising “money back guaranteed”, “trusted genuine” and “2013 top broker”. Considering the bad rap binary options brokers are getting, especially the unregistered ones, the promise of paying back the clients money is a really important one, but it is rather dubious.
Strangely enough, the Limited Binary website designer otherwise suffers from serious lack of imagination and the page looks almost identical to that of several other binaries brokers the French regulator AMF has warned about back in March and who also have identical design. The sites of two of them are already offline, but Option Capital Market is still up and running.