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The Swiss financial regulator FINMA has issued a warning that the BankingOption binary options broker, with an address in Basel, is not entered in the commercial register of Switzerland.
True to its laconic style, the regulator does not provide any additional information. An SMN check on the BankingOption’s site revealed that it claims to be fully regulated and registered in Switzerland.
Oddly enough, the word “binary options” does not appear anywhere on the site, but the company claims to be “world’s leading derivative trading provider”. The graphics published on the site, however, suggest that BankingOption is yet another unregulated binary options broker. According to some videos in the registration section, the site has had a facelift changing the logo and replacing “binary options” with “derivative trading”. The Twitter page of the broker also states it is the “world’s leading binary options provider”.
BankingOption promises one hour withdrawal time, 20% refund on every lost trade and an 80% winning rate in auto trading. There are more than 100 instruments and the minimum deposit it $2000.