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IMPORTANT UPDATE AND WARNING:

We have recently received complaints and read many negative reviews on the internet about regulated binary options brokers using indecent practice towards traders. Although some binary brokers may be regulated, we do not recommend opening a trading account with ANY broker, be it a regulated broker or a non regulated broker, as THEY ALL seem to be unethical and non-trustworthy, even the regulated ones! If you have been scammed by such a company you can check out our RECOVER FUNDS FROM BINARY SCAMS section.

Also, instead of trading binaries which are mostly scams, you can trade with a trustworthy and popular FOREX broker such as FXORO.



FINMA – Swiss Financial Market Supervisory Authority Adds Geneva Option (genevaoption.com) to Public Warning List

Swiss Financial Regulator VS Geneva Option

Just in time for Christmas. The Swiss financial watchdog “FINMA” has added an unregulated binary options brokerage to its public warning list. The broker “Geneva Option” states on their website that they have offices in Switzerland but also state that “The website is operated by HAS Group Ltd, 96960, Majuro, Trust Company complex, Republic of the Marshall Islands”. They also have a UK address on their website.


screenshot-genevaoption.com
Screenshot from GenevaOption.com Website

Apparently though they are NOT regulated by the Swiss regulator and have gotten themselves on the public warning list, probably by soliciting traders from Switzerland without having the proper license from FINMA or from any European regulator that would allow them to passport into Swiss territory. The fact that they use the name of the second most populous city in Switzerland (Geneva) in their brand-name, without having a Swiss license, is somewhat amusing but also shows to what lengths unregulated brokers are ready to go – when they are under the radar.

Is It Dangerous to Trade With Geneva Option?

It is safe to say that if you live in Switzerland you should probably stay away from this broker. Although they do not have many complaints on forums or review boards it seems that they are a new broker and their website is only 8 months old and already they are on a warning list. The fact that they are not regulated by ANY regulatory watchdog AT ALL is also up a big red flag. So our verdict is that you should probably stay away from Geneva Option!


View original warning post on FINMA website here.

geneva-option-warning
GenevaOption Warning on FINMA Website