New Zealand’s financial regulator, the Financial Markets Authority (FMA), has added the forex broker Trade12 and the binary options broker Option Giants to its list of businesses to be wary of.
According to FMA and Trade12’s website, it is based on the Marshall Islands and is owned by Exo Capital Markets Limited. The New Zealand regulator notes that its warning is prompted by a warning from Italy’s regulator CONSOB. It was published back in the spring.
The other warning of FMA is about Corporate Enterprises PTY Limited trading as the binary options broker Option Giants. The New Zealand regulator notes it has received complaints that Option Giants withholds client funds.
Option Giants claims it is “the World’s Market Leader in Binary options”. According to its website, it is based in London, but does not provide regulatory information whatsoever.
It appears that neither Trade12, nor Option Giants, are properly regulated and licensed.