The Hong Kong financial markets regulator, the Securities and Futures Commission (SFC) has added the Suisse Option binary options broker and the Juno Markets forex broker to its alert list of unregulated entities.
Both have been targeting Hong Kong residents without having the proper license for the purpose. Additionally, Suisse Option falsely claims to have an address in Hong Kong, the SFC notes.
On its site it claims it is the “leading binary options platform” and promises “security, features, user-friendliness, tools, and education”. There is no information about licensing and regulation.
Canada’s provincial regulator BCSC has also warned that Suisse Option is not regulated.
Juno Markets, on the other hand, is a forex broker based in Vanuatu and regulated by the local Financial Services Commission and. It is also a member of the dispute resolution organization FinaCom. Juno Markets says it is mostly targeting clients in Asia.
It is highly advisable that clients avoid dealing with unregulated brokers or ones supervised by offshore regulators like Vanuatu, Saint Vincent and the Grenadines and the likes.