The Cyprus Securities and Exchange Commission (CySEC), which is the regulator of the financial markets in Cyprus has recently issued another public warning against TD Options Limited, a company which claims to possess a license to provide binary options services to traders.
Operating online through a website under the name Basic Venture (www.basicventure.com), this firm falsely claims to be providing regulated binary options services and it is primarily targeting prospective clients from Asia through the Chinese language version of its site. Moreover, it appears to be falsely claiming to be located at the London Stock Exchange, although the address it cites is not the same as the one of the LSE. It should also be mentioned that this entity has no connection or affiliation with TD Ameritrade, which is a firm regulated by CFTC in the US.
As always in this kind of warnings, CySEC says that TD Options has never been registered nor licensed to operate in Cyprus, and isn’t authorized to provide investment and ancillary services within the jurisdiction. Moreover, it clarifies that the firm in question is not established in Cyprus and that no notification has been received that it is licensed by any other EU regulator either.
In the warning CySEC urges investors to always consult its webpage where it lists all the firms that are authorized in its jurisdiction, before conducting any investment business with a firm.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.