The Financial Services and Markets Authority (FSMA) has, on several occasions, warned the public against the activities of various providers of/intermediaries in binary options and forex products, “recovery rooms” and “boiler rooms”, all operating unlawfully.

As mentioned in these warnings, the providers/intermediaries/boiler rooms in question are not authorized investment firms or credit institutions in Belgium. They are therefore not allowed to provide banking and/or investment services in or from Belgium. Furthermore, they have not published, where applicable, a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.

It should be specified that at this stage, no offer of binary options fulfils the requirements of Belgian legislation.

As regards “recovery room”-type fraud, despite the promises made by the persons offering this service, the fees charged do not result in the victims recovering the lost funds, and the sums paid in the process by the client are thus also lost.

The list below comprises all providers of/intermediaries in binary options, forex products, CFDs and other derivatives, “recovery rooms” and boiler rooms that have been the subject of a warning published by the FSMA since 2013. It also names the holders of the bank accounts used by those companies. The names indicated in bold are those of the new companies added to the list following the latest set of published warnings and/or following new information received by the FSMA about companies that have already been the subject of a warning by the FSMA.

Please note that the fact that no warning has been published about a given company does not automatically mean that the latter company holds the authorization necessary to operate in Belgium. In spite of the FSMA’s efforts to publish warnings in a timely manner, it is not impossible that a company may be operating unlawfully even though no warning has been published. As a result, this list cannot be considered exhaustive, and investors are always advised to check if a company that is offering a financial service holds the requisite authorization by consulting the lists of persons authorized to provide regulated financial services, published on the FSMA’s website under the tab “financial service providers”.

10 Spheres Media Ltd *
2M Venture Partners Limited *
Aaoption is external) et is external) *
Abena Invest Ltd *
Able Century Limited **
Action Presta Services SL ***
ADEF ***
Advanced Global Securities Corporation (AGS Corporation) (cloned firm) (link is external) **
AEG Financial (link is external) **
AGFMarkets is external) *
Aichi BMO International (ABMOI) is external) **
AJ Browder Capital *
Al Global Impex Ltd ***
Alborg Trading Inc. *
Alfa One Corporation (link is external) **
Al Global Impex Ltd ***
Algorates is external) *
AMF Capital Limited *
Amicus Investment (link is external) **
Amj Imp & Exp International Co. Ltd **
Analysis Finance *
Analyst Invest is external) *
Aoguan HongKong CO., Limited **
Apex Alliance (link is external) **
Apex Equities (link is external) **
Arian Financial (cloned firm) **
Arianus Marketing Ltd *
Arma LPB S.R.O *
Asashi Mergers & Acquisitions Group (link is external) **
Asia Pacific Brokerage Services Limited (link is external) **
Asia Pacific Ltd (cloned firm) **
Asicon Trading Limited **
Assets Credit Union **
Aston Forex is external) *
Aston Invest Ltd *
Aston Markets is external) *
Axel Neumann (cloned firm) (link is external) **
Ate Binary Limited *
Atlantic Global Asset Management (link is external) **
Axis Investment Group is external) **
AXN Trading (link is external) **
B.H.Global France   (B.H.G. France) **
B.H.N.V. online Ltd *
B.P.Y Technologies Ltd *
BANK & BINARY is external) *
Bai Xin Cheng Limited **
Bank Of Market is external) *
Bankandcapital is external) *
BanqofBroker *
Banque Centrale d’Europe (link is external) *
Banque Investissement (link is external) *
BarclaysBroker is external) *
Bauway Technology Limited **
Bayside Financial Services (link is external) **
Belmont Financial Group (link is external) **
Bellmore Group is external) **
Benedict Morris – BMBOption – Log Trading Capital Ltd (link is external) *
BFBMarkets is external) *
B.F. Capital Ltd *
BFM International Ltd *
BfmMarkets is external) *
BforBroker is external) *
BFXOption is external) *
BH France **
BHM26 Services Ltd *
BHR Conseils *
BigOption – Wirestech Limited www. *
Binareo is external) *
Binaritrading is external) *
Binaroom is external) *
Binary Forex Market VIP is external) *
Binary Stock Market Bank (BSMB) (link is external) *
Binarynvest (link is external) *
Binat Ltd (link is external) *
Blue Fox Consulting Ltd *
BNK Trading ***
BNRMARKETS (link is external) *
Bo Bank is external) *
Boltin Limited **
Bourke Ltd **
BoursoMarket is external) *
Boursoratrade is external) *
Bow Financial (link is external) **
Brandt-Swift Associates (link is external) **
Brevan Invest – Kasuar Ventures Ltd (link is external) *
Bridgestone Trading **
Bright Sheen Limited **
Brilliant Sheen Limited **
Broker Financial Ltd (link is external) *
Broker International Bank is external) *
Broker&Co is external) *
Brookfield99/ Brookfield Investment Management (Cloned firm) (link is external) **
Burton Financial Partners **
Caïs Capital LLC ***
Capital Epargne (link is external) *
CapitalCourtage (link is external) *
Capital Hill Group **
Capital Invest Europe (link is external) **
Capital Markets Ltd *
Capital Precision Belgium **
Cardan Ltd **
Cardell Co limited is external) *
Carmann Consultancy Services ***
Carmann Reed Edwards Associates (link is external) ***
Cartius Finance **
CC Manuel Trading **
CCMGT Management Consultancy **
CDH Investments **
CEA Finance is external) *
Cedan Ltd **
Centrale Bank Europe (link is external) *
Central Option (link is external) *
Central Provider Ltd (link is external) *
CFX Markets is external) *
Champion Luck Enterprises Limited **
Changsheng Associates **
Charles van Deursen (link is external) **
CIA.De Star Mega LDA **
Cit Markets (Citmarkets) (link is external) *
Citic Tokyo International (link is external) **
City Bank CFD (link is external) *
Clewis Financial (link is external) **
CME Global Corporation **
CTI China Renaissance (CTICR) (link is external) **
CO&H limited *
COB Trading is external) *
Colbert Capital is external) *
Cole & Rushton LLC (link is external) ***
Comex Partners (link is external) *
Condor Capital Management (link is external) **
Consorfx (link is external) *
Consortrade limited *
Coral Azul O Sp.z.o.o *
Corolla Financial **
Counting House Services Ltd ***
CRE Group INC (C.R.E. Group INC) ***
Cressman Financial Group/ Tian Xi Fu Limited/ Hongkong Ztwow Trade Limited (link is external) **
CT-Broker is external) *
CTPP Investment Limited **
Cunningham Mutual **
CVCoption Ltd *
Daikyo Brokerage Limited (link is external) **
Dalerich ltd **
Dashan International (link is external) **
Dealinpro (link is external) *
Deniver Limited **
Deniver Limited **
Denko Group **
DeutscheMarkets (link is external) *
Devin Consultants is external) **
Direct Epargne *
DNT Limited *
Dodson Norwood (link is external) **
Drukenmiller Investment Services (link is external) **
E New Sp Z.o.o. *
E Trade Securities is external) *
Earnest & Medwell International (link is external) **
East Tech Trad. ***
Eastern Quay Asset Management (link is external) **
Ebinaires is external) *
Edgedale Finance – Gold Horizen Ltd (link is external) *
Edmund Rome Corporate **
EF Investing (link is external) *
EFT Global Limited *
Eich Invest Ltd *
EKL International CO., Limited **
Elantra Limited **
Electro Discount SA *
Ephraim Global (link is external) **
Equity Capitals *
Ernst & Taylor LLP (link is external) ***
Escrow Service Group (link is external) **
Estcomm International Ltd *
EasyGestions is external) *
Euro Asia Invest **
European Commodities Commission (ECC) is external) **
E Trade Securities (link is external) *
Eventus Alternatives Commercial Broker LLC **
Excel Management **
Excon Fuji Securities is external) **
Experia Management Group is external) **
Expert Data (link is external) ***
Expert Finance (link is external) *
F247 Services Limited *
F Financial (link is external) *
F&C Investment *
F&C Management Limited *
Fi Options is external) *
Fi-Corporation (link is external) *
Fi Services *
First Consulting SCS *
Fonds d’investissement Liège 2015 *
Fife Hamilton Associates **
FMTrader – Terapad Services Ltd – FM Marketing Ltd (link is external) *
Finance Academy (link is external) *
Finance Academy Trading (link is external) *&***
Finance International (link is external) *
Finances Capital (link is external) *
Financial Advice (link is external) *
Financial Advisors Online **
Financial Broker is external) *
Financial Futures (link is external) *
Financial Futures Ltd (cloned firm) – Digifirst Hungary Kft (link is external) *
Financial International (link is external) *
Financial Strategie (link is external) *
Finanperf *
Finsolved Management & Consultancy ***
FIPconseil *
Forex Club (Forex Club International Limited) (link is external)  *
ForexTrada is external) *
Fortune 2014 Ltd *
Fortune Banque (link is external) *
Frank Bossuyt & Partners (cloned firm) (link is external) **
Franklin Transfer Services **
Friedman Global is external) (offline) ***
FSI Union is external) *
Ftradition is external) *
Fuji Credit Asset Management (Fuji Credit J-LLC) (link is external) **
Fujitsu Global/ Asian Mercantile Exchange/ Centric Limited (link is external) **
Futurmarket *
FX Capital Bank (FXCB) (link is external) *
FXbanque is external) *
FXCB Capital Markets Limited *
FXCB Limited *
FXCM (FXCManagement) (cloned firm) is external) *&***
FXGL Capital is external) *
FXNTrade (link is external) *
FXObank is external) *
FXSEP (link is external) *
G.A. and M.A. Solutions Limited ***
GCI (link is external) *
GCI Financial LLC (link is external) *
G.I. Technologies *
GDPX Assets Ltd *
Gemini Acquisitions (link is external) **
Gemsasia Investments Corporation **
General Options is external) *
Genkai Securities **
Gerard & Alterman (G&A) (cloned firm) (link is external) **
Geyser Bank *
GFS Limited *
GFS Securities *
GHY Partners Limited (link is external) **
Global Capital Ltd *
Global Consulting Europe is external)  **
Global Secure Ltd *
Global Strategy Capital Markets Ltd is external) **
Globstate Assets Holdings Limited *
Glory Jet Limited **
G.M. Marketing Group Limited (link is external) *
G.M. Software Solutions Limited *
GMT Private Broker (link is external) *
GMTInvest (link is external) *
GN Capital Ltd (link is external) *
Golden-Bank is external) *
Golden Promise Group Ltd *
Good Option is external) *
Graham International Ltd (link is external) *
Grandwic Ltd **
Great Raise Ltd **
Greenberg International Law & Tax Advisory **
Green Seed Capital **
Groupe Markets Ltd *
GS Info **
H & G Publisher Ltd *
Hadid Ravan CO., Limited **
Hamberg Ltd **
Hamburg Limited **
Hampstead Worldwide Limited **
Hamtron Ltd **
Hansen Peters Ltd **
Hasegawa Financial Holdings (link is external) **
Haussman Capital is external) *
Hawk Trade is external) **
HCI Fund is external) *
Hedge Funds Liège 2015 (link is external) *
Herrington Global is external) **
Highfrequency (link is external) *
Hong Kong Raeat Holdings Limited **
Hoover Bright Independent Finance Advisor (link is external) **
HSB Group Ltd *
Hubstone Capital LP *
Hubstone Holdings Ltd *
Iaccount Services (HK) Limited *
ICMarkets (Invest Capital Markets) is external) *
ICSID (International Centre for Settlement of Investment Disputes ***
Idelson Group *
Ikkotrader is external) *
Insta-trading is external) *
Inter Global Equity is external) **
Invest-Binary is external) *
Invest-Option (link is external) *
IP International Service *
IP Media and Co Ltd *
Ivoryoption – Arya Group Ltd – Arianus Marketing Ltd (link is external) *
Ixitrade is external) *
JEC Investment Limited **
JH Trading **
Jin Yam Trade Co. Limited (HK) **
Jones Falls Securities **
Jones Shaw Capital Partners (link is external) **
Jordan Group Financial (link is external) **
Justrader (link is external) *
Kalahouse Limited *
KD Markets is external) *
Kimball Group International Ltd **
Kingsburg Inc Ltd **
Lau Global Services Corporation (link is external) *
Leeden Limited **
Legend Options is external) *
Leiyu Trade Limited (link is external) **
Leston Ltd **
Lexus Group (link is external) **
LIBServices ltd *
Lilikol SA *
LiveTrader (link is external) *
London Capital Group (cloned firm)
London Global Markets (link is external) *
Manniworth Co Ltd (link is external) **
Manrich Ltd **
Market Capital Sp Z.O.O *
Markets Central Investment (link is external) * is external) *
Mann Morkes Inc. *
Mascarene management *
Maya Company Ltd *
Mayfair Funds (link is external) *
MCA Advisors (link is external) **
Mercuria Technologies LTD *
Mestoz Ltd **
Meta Capital Partners Ltd **
Metacapital option is external) *
MIA 29 Ltd *
Micron Associates is external) (offline) **
Ming Fu (HK) Industrial Limited **
Mitsui Credit Global (Mitsui Credits) **
Monex Financial/ Monex BMO Securities/ Symando Corporation Limited/ DFAN Limited (link is external) **
Moss Securities is external) **
MPT Max *
MT Capital Partners *
Mutual Hope Ltd **
MXTrade (link is external) *
Myfair 23 *
Mypal International Co. Limited **
My Private Trade *
Nakitrade (link is external) *
Neuberger and Co. Wealth Management (link is external) **
Newcastle Distributors **
Newton Invest (link is external) **
Neywway Holdings Limited *
Next Binary is external) *
NG-Bank (link is external) *
Nikko Desjardins Asset Management/ Xieze International Trading Limited/Gradual Investments Limited (link is external) **
Nippon Holdings (Nippon Capital Asset Management) (link is external) **
Nomura Bank (cloned firm) (link is external) **
Norikura-Global is external) et (link is external) **
Norite Capital Ltd **
Nyt Trading ***
OBinary Corporation is external) *
OBmarkets is external) *
Olivier and Mann is external) **
One Two Trade is external) *
Opteck is external) *
Option500 (link is external) *
Option Bank (link is external) *
Option Pros (link is external) *
Optionavigator is external) *
Option-Direct (link is external) *
Optionsmarter is external) *
OptionXchange – Globe & co ltd – SC-Options (link is external) *
Option Solution Group Limited *
Option Solution Online Limited *
OptionsXO is external) *
Osaka Financial (link is external) **
Oshiro Associates (link is external) **
Orix Capital Trading is external) **
Owpremium (link is external) *
Oxred Ltd **
Pacific Sunrise UK Ltd – Aaoption – CFDStocks is external) et (link is external) *
Parkwell & Company Inc. (link is external) ***
Peredic Limited **
Peston & Sons Securities (link is external) **
Plea (UK) Limited *
POB Holdings Ltd *
Prestige Banq is external) *
Prestige Equity (link is external) **
Primary Stream Limited *
Prime FMS is external) *
Privilege Trading is external) *
Pro-Binary is external) *
Proinvest (link is external) *
Pro-Nice Limited **
Pro-Nice Ltd **
Pulchira View Trading **
PVSS Holdings Ltd **
PWL Trading ***
PWRTrade (link is external) *
Quantum Group Invest (link is external) *
Raiser Limited ***
RBOptions (link is external) *
RBCT Trading ***
RB Secured Processing Ltd *
Redford Option is external) *
Redington Limited **
Redlane LTD *
Red Shield Financial /Rong Aviva Limited (link is external) **
Redstart Navigator Ltd *
Resona Corporate Partners (link is external) **
Ridgewood Securities **
Risk & Portfolio Management Ltd **
Royal Broker is external) *
Royal de Bank is external) *
RT Trading **
Rubin Dunn (link is external) **
S&B Seven Ltd *
Saito Mergers & Acquisitions is external) **
Sarandon Asia Ltd **
SC-Options (link is external) *
Scottoption is external) *
Seattle Mercantile Exchange **
Secure Invest is external) *
Secure Soft Service Ltd *
Sep Society *
September Investments Limited *
Service Qualité des plateformes Boursières *
Sequoia Markets *
Shaily Global Option Ltd *
Shangai Derivatives Exchange (SHDEX) is external) (offline) ***
Shaw, Edwards, Emmerson & Knight (link is external) ***
Shinshiro International (link is external) **
SIA Europe Trade Services *
Sigma Capital Advisors **
Sino Link Japan (link is external) **
Sisma Capital Ltd *
Skyoptions *
Soft Service Ltd *
Software Solutions Limited *
South-East Asia Registrar (link is external) **
South-East Asia Traders (link is external) **
Starbust Limited *
Sterling Consultancy Options Ltd (cloned firm) (link is external) *
Stock Binary (cloned firm) (link is external) *
Surekeep Marketing ***
Suisse Option is external) *
Swiss Capital Invest (Swiss Capitalinvest/ Swiss-CapitalInvest) / Atlasreference Unipessoal LDA (link is external) *
Swiss Investment (cloned firm) (link is external) *
SwissPartners AG (link is external) *
Taiwan Options and Futures Exchange *
TAML Trading ***
Tareno (cloned firm) *
Taris Financial Corp. *
Tatsuno Intenational (link is external) **
Technopers is external) *
Telcom Services Ltd *
Tenjin & Associates (link is external) **
The Associate & Trading Solution *
The Southwoud Group is external) (offline) **
Thornwood Financial/ Long Will Limited (link is external) **
Time Binary is external) *
TJB Trading *
Tian Xi Fu Limited **
Timmermans Asia Ltd **
TorOption is external) *
Toshikatsu Group (link is external) **
Tradaxa is external) *
Tradaxa Venture Ltd *
Trade Invest Group *
trader 369 *
Tradesolid (link is external) *
Tradignition is external) *
Trading Company *
Trading Corporation *
Trading Expertise *
Trading Technologies Ltd (link is external) *
Tradmaker is external) *
Trebol Trading LLC is external) *
Treetop Business Management Consultancy **
Tricorp limited **
Triumph Option is external) *
TST International (link is external) **
Tp-markets is external) *
Tunner Grant & Associates ***
T.T.F *
Ubinary is external) *
Ultra Secure Group *
United Equity Clearing Limited **
United Global Trading **
Up & Down Marketing Ltd *
Valuewell Assets Ltd **
Versailles Finances (link is external) *
VIP Markets Limited is external) *
Voth Nixon Group (link is external) **
Waldmann Asset Management (link is external) **
Wallace Associates Inc. (link is external) **
Wagner Berne (Matthew Goodman) **
Warick Limited **
Well Investments Ltd *
Westward Holdings is external) **
West Pacific Dealers (link is external) **
White-Miller Associates is external) **
William Paulstern (link is external) **
Williams Corporation Ltd *
Wiltshire Capital **
Wirestech Limited *
Woori Bridgewater Brokerage (link is external) **
XFR Finance Ltd *
XFR Financial (clone firm) *
XFRoptions is external) *
XP Markets is external) *
XW Technology Hong Kong Limited **
YA&Co Capital limited *
YJ Concept *
Zeriten Limited **
Zulutoys Ltd *

* = companies offering binary options / forex products / CFD / other derivatives

** = boiler rooms

*** = recovery rooms


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