Do not invest more money than you can afford to lose.
The Japan Financial Services Agency (JFSA) has updated its list of unregulated financial services providers operating in the country by adding IVA Gold ltd., operating the binary options broker Banco Capital.
According to the broker’s site, the company is registered and has a business address in Bulgaria’s capital Sofia, but is not present in the country’s list of registered financial intermediaries maintained by the Financial Supervision Commission. IVA Gold also provides an address in London and UK phone numbers.
According to the JFSA, Banco Capital was soliciting Japanese residents via the internet to trade in OTC derivative products.
On its site the broker displays a certificate from the Russian Financial Market Relations Regulation Center (FMRRC) – a self-regulatory organization (SRO) that was “created to regulate the quality of services provided by brokers and dealing centers.” On its site, the SRO states its mission is to provide traders with maximum security of transactions and certifies brokers. Obviously, the FMRRC is not a proper financial services provider regulator, as in Russia regulation and licenses are issued by the country’s Central Bank.
Either way, Banco Capital’s FMRRC’s certificate has expired in September.
At the same time, traders are complaining on some internet forums that they have trouble withdrawing their funds and Banco Capital is not answering their calls and e-mails.
