The International Financial Services Commission (IFSC) of Belize has issued a warning against binary options brokerage TitanTrade. The broker falsely claims to be based and regulated in the country, when it is not.
The IFSC wanred the representations TitanTrade made on its website are inaccurate and misleading. All investors should warned take note and be extremely caution when dealing with the broker.
“We confirm that TitanTrade is not registered as a company nor licensed by the International Financial Services Commission of Belize or any other competent authority in Belize to engage in any type of trading business,” Belize’s regulator noted.
TitanTrade, operating via www.titantrade.com, provides several types of binary option trading – 60-second, long-term, one-touch, pairs and ladders.
The broker has made its way to the warning lists of the regulatory bodies of several countries – Denmark (FSA), Italy (CONSOB), the US (CFTC), New Zealand (FMA), Australia (ASIC), and Russian self-regulatory organization KROUFR has received complaints from clients who said they were unable to withdraw funds.
When engaging with unauthorized and non-regulated brokers, traders are putting their investments at higher risk. We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.