Do not invest more money than you can afford to lose.
The Australian Securities and Investments Commission (ASIC) published on Thursday, through its consumer website MoneySmart.gov.au, alerts against non-licensed forex broker Ashton Cole Global Investments (aka AC Global) and binary options broker HongKong Tooptions, trading as ToOptions.
Both brokers are based in Hong Kong. Ashton Cole Global Investments operates via the website www.acglobalinc.com, and ToOptions does business using www.tooptions.com. The regulator warned that the two entities could be involved in a scam and investors should think twice before engaging with them.
ToOptions is owned and operated by Australian-based Marketag PTY Ltd.On its website, the broker says its parent company is licensed and regulated by the ASIC. Indeed, the Australian financial services (AFS) register indicates that the company obtained a forex license in 2008 and it is still active. However, the license mentions nothing regarding the ToOptions brand.
ToOptions’ product portfolio consists of binary options on forex, commodities, indices or stocks.
Meanwhile, Ashton Cole Global Investments offers forex and equities trading, as well as advisory programs, structured investments, and private client services. The broker provides no information regarding licensing or regulation on its website.
In Australia, financial investment companies, including forex brokers, are forbidden to operate without a local license. Investors who engage with unregulated brokers put their funds at risk. The regulator maintains a register with all authorized entities and regularly issues warnings against unauthorized entities.
We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.