The CySEC’s warning against the LBinary broker

lbinary cysec

The CySEC is a regulator of the financial markets that is based on the Mediterranean island of Cyprus. One of its missions is to oversee binary options brokers and other financial institutions at the European level. It has just officially published a warning to the attention of investors against the LBinary broker.

LBinary, a broker to avoid 

This broker has never been regulated and is not intended to be opposed to other unregulated brokers. It seems that a company outside Cyprus is hiding behind the LBinary broker. The regulator of Cyprus has published a warning in order to keep the public informed that the company is not allowed to offer the trading of binary options in the European jurisdiction and therefore one should avoid LBinary and move towards regulated binary options brokers.

societe broker Lbinary

The official statement of the CySEC evokes that the company is not based in Cyprus and does not in any case have the license of the local regulator. Also, please note that the information related to this broker is rather vague because it is contradictory. On the broker’s website, when we go back to the “contact us” section we can clearly see that the LBinary brand is the property of the company Live Binary Ltd based in the Seychelles, whereas if we examine the broker’s website in a little more detail and we observe very carefully the lower portion of the main page, we can see that this time around that the LBinary brand is indicated to be owned by the company Targaryen Holdings Limited which is based in Gibraltar. LBinary lacks sharpness in its explanations; we do not know which information is good and which are false, hence this leads us to ask ourselves certain questions regarding the seriousness of this broker.

The CySEC, an authoritarian regulator

The Cypriot regulator of the financial markets seems determined to intensify its efforts and to continue its crusade against the bad binary options brokers and other non-regulated entities in 2014 just as it did in 2013. This warning against the LBinary broker comes in the wake of the previous warnings from the regulator against brokers such as TraderXP, NRGbinary or ZoomTrader.

Remember also that other radical events have recently occurred against some brokers; for example, the CySEC decided to partially revoke the license of the Cedar Finance broker that has committed some infractions that strongly disagree with the European financial regulation. The CySEC reigns on the binary options industry with an iron hand; it is on the lookout for illegal behavior and white collar crimes and does not hesitate to crack down in order to lead by example and to protect traders and their interests, hence deterring fraudsters from engaging in the binary options business.

Choosing a regulated binary options broker

In order to prevent traders from getting ripped off by ill-intentioned brokers or companies of contenders, regulators of the financial markets oversee the trading industry in general and therefore the activity of binary options brokers. Among these regulators, we have previously noted the European regulator, CySEC, to which we can add its French counterpart (the AMF “Financial Markets Authority”), and the British (FCA “the Financial Conduct Authority”), and the Spanish (CNMV “National Stock Market Commission”) and the Italian (CONSOB “National Commission for Enterprises and the Stock Market”), which cover almost the entire European territory and enforce the financial regulation by controlling brokers.

 In order to make the distinction between the good and bad binary options brokers, these key regulators grant licenses to the best brokers among them and the ones who have proven themselves both in their trading conditions as well as their credibility and relationships with their clients. At the present time, brokers such as AnyOption, OptionWeb or TopOption have ten licenses from international regulators and are therefore the preferred type of brokers. These brokers have a very good reputation and have nothing more to prove and nothing to do with LBinary which is not a regulated broker and therefore does not really inspire confidence.

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The name given to this website was not chosen by chance; as you may have noticed, the main theme here is the bonus given to traders by binary options brokers. Please be aware that our team has negotiated special bonuses on deposit which are not offered by brokers under normal circumstances. For example, the binary options broker OptionWeb offers a 20% bonus on deposit to its new traders but thanks to our relationship with the broker we have managed to negotiate a 100% bonus thus allowing to double your deposit instead of the 20% that is granted under normal circumstances when opening an OptionWeb account. Similarly, when opening an account with TopOption you can benefit from a 100% bonus as a BonusOptionsBinaires.net reader whereas the broker does not offer any bonus on its website.

The second advantage that we offer to our readers is the BonusOptionsBinaires.net guarantee; it is a protection that is offered when opening an account with a binary options broker. Hence, in case you encounter a conflict with your broker, we will actively use our influence with the staff of the broker in order to find a quick and honest solution to the problem in question.

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Comments

  1. Albert Yome said: 11/02/2014

    Targaryen Holdings Limited

    Please note that a ‘Statement that the company does not have authority to maintain registered office at specified premises’ has been filed at Companies House (Gibraltar) in relation to its registered office address at Suites 41/42 Victoria House, 26 Main Street, Gibraltar.

    The LBinary website referred to “cooperated with Hortense Holdings Limited”. Please see http://www.fsc.gi/enforcement/fscwarning0050.htm.

  2. Rick said: 19/01/2015

    LBinary is a complete SCAM. If you win trades consistently and are able to take a significant profit, be forewarned : THEY WILL NOT PAY YOU. After winning over $4,500 in approximately 3 weeks trading on their platform (and being a “fully verified” client) on December 12, 2014 I requested a full withdrawal of my funds. It’s been well over a month now and I’m still waiting for my money. They’ve used every excuse possible in not paying out, including ignoring my requests outright. After notifying these scammers of my intention to pursue legal and criminal complaints against them I received a payout of ONLY my initial deposit on 1/13/15. The battle will continue. I’ve also come to realize that these guys probably don’t even have the money to pay me. I’m sharing my story in the hopes of preventing other people from falling for this ponzi scheme. I have reason to believe they are really located in Israel, not Gibraltar or Cyprus as stated on web sites, and am gathering information for a class action lawsuit.

  3. ERIK said: 24/01/2015

    lBINARY IS FUCKING SCAMMMM THEY TOOK MY MONEY

  4. Mark said: 04/02/2015

    I am attempting to get my money back from LBinary with no luck as of yet. Rick (above post) mentioned legal and criminal action against them, does anybody have good contacts in the legal business? I would like to pursue action against LBinary if they do not return my money. Any help would be appreciated.

  5. Deedee said: 04/03/2015

    Lbinary biggest thieves I have ever come across. A bunch heartless lieing assholes whom don’t even care if a child’s life has been compromised.

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