Japanese financial watchdog adds Brilliant One Forex to warning list

Japan is a big market for the online retail trading industry, but it is also strictly regulated. In fact, Japan’s Financial Services Agency (FSA), which is the industry watchdog, has been highly active and vocal in recent months in its attempt to protect Japanese residents from unregistered investment companies that target them.

Under the provisions of the relevant Japanese law, even if a derivatives and other financial services provider is located outside of Japan, in case they are offering their services to Japanese investors via online means, they still have to obtain the necessary registration and licenses from the pertinent Japanese authorities. Not having such regulatory permissions lands companies on the list of unregistered businesses, which is regularly updated by Japan’s FSA.

 

Amid the latest additions to the list is Brilliant Stage Limited, operating as Brilliant One Forex, an FX services provider that purports to be based in the Seychelles at Sertus Chambers, PO Box 334, Suite3, 1St Floor, La Ciotat Building, Mont Fleuri, Mahe, Seychelles. The company offers its services via the website http://brilliantoneforex.com, which also has a Japanese version, which is indicative of the fact that the broker is targeting Japanese clientele, without being properly licensed and registered to do so.

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George Milios

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.

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