The Swedish regulator FI (Finansinspektionen) warns against GFTrades

Finansinspektionen

The Swedish financial markets regulator, FI known under its original name “Finansinspektionen”, that has the same role in Sweden in the supervision of the financial industry as regulators like the CySEC in Europe, the AMF in France, the CNMV in Spain, the CONSOB in Italy or the FCA in the UK, has released a warning against the GFTrades binary options broker; the latter is thus not allowed to provide its investment services to traders in Sueden since it has received no authorization, license or permit from the local financial regulator.

The warning of the Finansinspektionen regulator

In a few lines written by the Swedish financial regulator that comprise the warning which we are referring to herein, the latter emphasizes the fact that regardless of the Swedish authorities, the GFTrades broker does not have the required authorizations to enable it to offer financial services in any country within the European Economic Area (EEA). This comment by the FI should not be neglected, it is very important because it indicates that the broker is simply not in compliance with the MiFID (Markets in Financial Instruments Directive) relating to the financial instruments markets and thus it is not entitled to provide its services to European traders.

Active international financial regulators

One of the things that we need to emphasize here is that international financial regulators continue to reign as a firm master in the binary options industry; many financial regulators all over the world have undertaken a number of enforcement actions against less serious binary options brokers in this industry. For example, the Cyprus regulator, the CySEC, in charge of overseeing the overall financial industry at the European level has recently been quite severe over the past weeks, and hence it still maintains the license of the Cedar Finance broker suspended.

The French regulator AMF has also been particularly active in publishing a black list of 75 brokers in the same way as CONSOB has recently warned traders against 5 binary options brokers, together with the FSMA’s warnings against EZ Trader or the OSC’s warning against RBOptions. This wave of enforcement measures by the authorities shows that they are determined to enforce the financial laws pertaining to binary options and attempts to discourage dishonest brokers or those that do not have any authorization from carrying out their activities under penalty to be reprimanded.

The GFTrades broker and its alternatives

For more than two years, the GFTrades broker has illegally been offering its clients a platform for trading binary options, which we have tried in the past. We remember it to be a very simple and intuitive work environment that offered the high / low type binary options trading through a wide variety of markets, such as forex currency pairs, commodities, stock indices or shares of publicly traded company. It should also be noted that this is not the first time that the GFTrades broker is making news with this warning from the Swedish regulator; this broker has also attracted the attention of the French financial authorities, the AMF, since as we can see from the AMF’s black list comprising 75 binary options brokers to avoid, the GFTrades name and website appear therein.

Unlike the GFTrades broker, there are a lot of other brokers with the necessary authorizations that enable them to provide financial services to European investors. These brokers are also called “regulated binary options brokers”; they have a long-term proven track and thus convinced the European financial regulators of their quality and reliability. Among these regulated brokers, we can note the example of the TopOption and OptionTime brokers; these two brokers belong to the same company that has twelve authorizations from European financial regulators. Such authorizations, obtained from competent authorities and recognized in the world of finance, demonstrate that the practices of these brokers are in full compliance with the financial laws of European countries. They also make these two brands the most regulated binary options brokers in the binary options industry and also the most secure brokers.

The BonusBinaryOptions.net advantages

By choosing to register with a binary options broker through this website, each trader will receive additional benefits that are otherwise not normally offered. The first benefit that is possible to take advantage of here is a bonus on deposit that has been exclusively negotiated by our team with brokers such as TopOption and OptionTime mentioned here-above. It is for example possible to enjoy a bonus of 100% instead of 0% upon opening a TopOption account or a bonus of 100% instead of the 25% that is normally granted at OptionTime opening account. The other advantage that we offer our readers is the bonusbinaryoptions.net guarantee which makes it possible to obtain our assistance in case of conflict encountered with a broker.

0 0 0 0 0

Comments

*

Subscribe now and receive a free ebook on the best strategies to gain in binary options!

TOP 3 BROKERS
1
24 Option
0/5
0 Reviews
2
TopOption
0/5
0 Reviews
3
AnyOption
0/5
0 Reviews
Brokers Selection
ALL BROKERS
This month's offer logo 24options

100% exclusive bonus (instead of 20%) on your 1st deposit from €250 on the best regulated broker 24 Option! (Bonus terms and conditions apply)