The FSMA’s warning against the EZ Trader broker

fsma

The Belgian financial services and financial markets authority, known as the FSMA, whose principal mission is to oversee the financial industry in Belgium, including the supervision of binary options brokers, has just warned traders and other investors against the EZ Trader binary options broker, through an official statement published on its website.

The FSMA’s warning against EZ Trader

In the official statement prepared by the FSMA, the authority has warned the public against the broker, and therefore discourages anyone from using the services offered by EZ Trader in case of solicitation on its part, given that it has no permit nor license authorizing it to provide its investment services in Belgium. The FSMA regulator also states that the sector in which the broker operates (the binary options) is a highly speculative environment and therefore it is risky. Hence, it is better to choose a regulated binary options broker that will be transparent vis-à-vis the trader and whose practices are consistent with the local financial regulations. Obviously, the Belgian financial regulator focuses more and more on binary options. As we have seen in December 2013, the FSMA has issued a warning against the brokers Banq of Broker, IkkoTrader and AJ Browder Capital, hence showing its intention to protect the interests of traders within its jurisdiction.

Lack of clarity in the binary options regulations

The EZ Trader broker does not have any license from the Belgian regulator. However, we may note that this is a binary options broker that is regulated by the CySEC, the Cyprus regulator in charge of regulating binary options at the European scale. The CySEC license has been awarded to the company WGM Services Ltd., behind which lies the EZ Trader brand. As a result, the broker can theoretically offer its services without any problem in all the countries of the European Union, and therefore offering services in Belgium should pose no problem. However, the FSMA regulator thinks otherwise and believes that the EZ Trader broker does not respect the Belgian financial regulation and the broker must accordingly be avoided.

Several other international financial regulators and particularly members of the European Union have also decided to take restrictive measures against the EZ Trader binary options broker. This is for instance the case of the French regulator the AMF (Financial Markets Authority); the broker has recently published a black list of 75 brokers to avoid. This list includes the EZ Trader broker. A few weeks ago, we have published an article due to the fact that the Italian financial regulator CONSOB issued a warning against five binary options brokers. In this article, we have briefly discussed the measures taken by the regulator in 2013 against EZ Trader. CONSOB had managed to obtain an order to restrain the website throughout Italy which prevented Italian internet users to access the services the broker after blocking their ip addresses.

The various financial market regulators seem here to express divergent views on the regulation of the EZ Trader broker. Some regulators such as the FSMA, the AMF and CONSOB clearly show us their negative view regarding EZ Trader while the CySEC does not seem to pay special attention at the moment. Faced with this complex situation, traders can be confused when they are looking for a quality binary options broker that is in line with the financial regulations of key financial regulators. In the paragraph below, we offer you our recommendation when selecting the best binary options brokers.

Choosing the most regulated brokers!

In the binary options industry, there are brokers that are regulated by almost all regulatory bodies of the European Union. For example, the most regulated broker at the moment is the binary options broker TopOption. In total, there are less than 12 regulators that have granted it their license thus authorizing its activities in view of its full compliance with the financial regulations and laws of many European countries. With regard to the TopOption broker, the position of the regulators is clear, whether it relates to the FSMA, the AMF, the CNMV, the FCA, the CONSOB or the CySEC. These regulators have all granted their license to this broker. There is no lack of clarity contrary to the EZ Trader broker as we have seen previously. TopOption has nothing to prove regarding its seriousness; no warning has been issued against this broker since its arrival into the world of binary options. This is a broker of choice which traders can opt for with no worries.

The bonusbinaryoptions.net advantages

Our team has been able to negotiate exclusive bonuses with most binary options brokers. For example, we have negotiated with the TopOption broker a 100% bonus upon opening a trading account via this internet website, while under normal circumstances this broker does not offer any bonus to its new traders. One of the other advantages that each trader can benefit from as a reader of this website is the bonusbinaryoptions.net guarantee for opening an account with a binary options broker. In case of any conflict with a broker, we will provide protection to you and assist you resolve the problem in question.

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