AnyOption Admonishes their Affiliates – CySec Unsuspends Brokers

AnyOption to Affiliates: Sign this Letter

AnyOption to affiliaties: “Sign this letter to confirm you are not using the name and picture of the German TV Star Robert Geiss in your advertisements”. We are already familiar with fake and exaggerated advertisement that pretty much makes you think binary options is going to change the world. This time however, LeapRate published; one or several AnyOption affiliates have been wrongfully using Robert Geiss and his family to advertise binary options trading. Therefore, AnyOption sent an email with a document attached where the affiliates are demanded to sign that not only will they not use the Geiss family name but neither shall they use any other famous persons. In another email earlier, AnyOption also asked all its affiliates to remove any information regarding bonuses. The latter is due to the new CySec rules which prohibits regulated brokers to offer bonuses tied to trading volume.

Binary Options Broker Warned by FCA

FCA warns CWA Options for offering unlicensed financial activities to UK citizens reports Financemagnates. According to FCA, people should not trust most unlicensed financial services because they are likely to run scams. In addition, some firms may claim to be FCA regulated but in reality do not hold a license. One such incident was reported last year where FCA reported about a cloned firm that claimed to be FCA regulated.

CySec Suspends and Unsuspends CIF Licenses

CySec originally suspended the licenses belonging to TTCM owner of TradersTrust and LeadTrade Ltd owner of; TopOption, Prestige Option, Excellence Option and Platinum Option – writes LeapRate. The reason was that the firms “own funds” and “capital adequacy ratio” were not separated according to CySec regulations. However, this suspension was later revoked due to both firms complying with the regulator – writes Financemagnates.

Another two brokers that got suspended were ProOptions by Gametech and Dragon Options by Dragon Options Ltd. The latter was also lucky enough to have their suspension revoked but LeapRate reports that clients will still be forwarded to another company named Rainbow Capital which is not CySec-regulated. Whether this is a move to avoid the new and stricter CySec regulations or not, remains to be seen.