Swirzerland’s FINMA adds binary options platform provider Bloombex Online to warning list

Swirzerland’s FINMA adds binary options platform provider Bloombex Online to warning list

The Financial Market Supervisory Authority (FINMA), the Swiss financial regulator, has added binary options company Bloombex Online to its warning list, data from the watchdog’s website indicated. The regulator did not explain why it has decided to include the broker to the list.

The broker provides servces via the websites www.bloombexonline.com and www.bloombex-options.com.

The Swiss financial watchdog indludes entities into its warning list when it suspects a company is targeting Swiss citizens and offering them financial services without having the required license. Under the local regulations, if an investment company wants to operate in Switzerland, it needs to acquire a bank license from the relevant authorities.

Zurich-based Bloombex Online is a binary options trading platform provider. It provides trading of over 80 tradable forex pairs, stocks, commodities and indices.

Bloombex Options is an affiliate of Bloombex Online.

The FINMA maintains an updated list of companies that might be operating without a license although their service requires authorization and should be supervised. If FINMA’s investigation shows a company is indeed providing unauthorized services, the regulator can initiate enforcement proceedings and impose measures, including closing the company down.

The regulator advices investors to be cautious and check companies and their licenses before engaging with them. They can do so by checking FINMA’s warning list and the Commercial Register for Swiss providers. A good rule of thumb is to always diversify investments and to remember that high returns usually go hand in hand with high risk.

We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.

Source: FINMA

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1 Comment

  1. Doreen Edmundson

    Bloombex took $500 out of my bank account and then insisted that I give them $5000 to invest or else they would just refund my money. I said yes please refund it. This has been a good month and I’ve not seen that refund. The original person was HAILEY Stone. Please see that they refund my money! I need that money!

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