Environment for the financial services remains strict in the European Union, what an Austrian respective body, the Austrian Financial Market Authority (FMA) confirms. FMA warned about two binary options entities providing financial services without obtaining respective license.
First of the two binary options brokers is UK options with its official website www.ukoptions.com. The company declares itself as a UK-based legal entity with an official address at Worldwide Tech Limited, 1st Floor, 2 Woodberry Grove, London, being a subsidiary of Smartech Ltd. Truth is that UK options have never been declaring their licesne.
Second warning is related to a binary options robot provided by an entity promoting its services via the website www.100percentprofitbot.com. Traders can learn from the website only that the other binary options robots are scam but declaring at the absolute end that results provided by them do not have to be real.
Besides the above-mentioned, the most important for the regulator is that these binary options services providers do not have a respective license needed to provide services and so the FMA was entitled to issue a warning about them. Entities thus are not allowed to provide any portfolio management for any of its clients, even when they authorize them to manage it with any financial instruments.
FMA explained its warning, stating that pursuant to the 2007 Securities Supervision Act, it discloses to the general public by publication on the Internet, in the official gazette “Amtsblatt zur Wiener Zeitung”, or and additional newspaper with nationwide circulation, that a particular natural or legal person is not entitled to carry out certain investment services, provided this person has given cause for such action and informing the general public is deemed necessary and reasonable in the light of possible disadvantages for those concerned.
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