ASIC public warning’s main purpose is to inform customers to avoid signing on the website to any binary options services promoted there as the watchdog sees this as a possibility for misleading clients to suffer detriment. Top Ten Binary Brokers websites’ (there are three in Australia) objective is to provide a review and comparison of existing binary options brokers with their services, provided to Australians.
The regulator has reported that it was trying to contact Top Ten Binary Brokers, but no representative of the website was willing to respond.
ASIC warns that there are reasons why to be cautious to Top Ten Binary Brokers and its indirect offering of unlicensed financial services in Australia via its official website and:
- http://www.toptenbinarybrokers.com
- http://www.toptenbinarybrokers.com/au
- http://www.toptenbinarybrokers.com/au2 (Top Ten Binary Brokers Websites)
Furthermore, ASIC suspects the entities mentioned on the Top Ten Binary Brokers review website to be all or most of not licensed to provide financial services in Australia.
ASIC warns that the Australian public to avoid signing up for any of the financial services offered through these websites until respective entities obtain adequate license for Australia.
ASIC believes that such promotion by Top Ten Binary Brokers together with the information on the Top Ten Binary Brokers websites is able to mislead the Australian public into believing the entities listed there obtained adequate license and are regulated in Australia. The public should not try to click on that advertising.
Moreover, ASIC believes as well, that it is in the public interest to warn the public about the conduct of Top Ten Binary Brokers.
To see the full ASIC warning announcement, related to the Top Ten Binary Brokers, click here.
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