Swiss financial regulator FINMA has added the binary options broker Swiss Royal Banc to its list of unregulated entities.
Perhaps the reason is the presence of “Swiss” in the name, as the broker claims it is based in London and states it is not a commercial bank and it is not incorporated in Switzerland, but is “inspired by many world renowned Swiss financial institutions”.
An SMN check revealed that neither Swiss Royal Banc, nor its owner GreenTree Holdings is listed in the UK Financial Services Registered administrated by the FCA.
The broker offers “trading” on High/Low, Pairs, Long Term, 60 Seconds, One Touch, Ladder binary options on the SpotOption platform. It claims that “Swiss Royal Banc is a sophisticated online trading platform that is changing the landscape of trading”.
It is the first time Swiss Royal Banc pops up on a warning list, but is probably not going to be the last.