Financial Brokers Limited

[volumeprofile]

Hi to all,

I received a call the other day froma a binary/digital options firm, called "Financial Brokers Limited", webpage: http://fb-limited.com/en/

Has anyone heard of this firm or tried their Managed accounts?

They claim to be "the market leader in Europe in the online trade in Digital Option" but when google:ing them there is very little information about the company.

They have a London, UK adress and the guy who callad were from UK, but there isn´t much info on the webpage. You can also read on the page, under "Privacy Policy" the following:

"19.Governing Law and Exclusive Courts

This Agreement will be governed by in accordance with the laws of SEYCHELLES without regard to its choice of law principles. Any legal action or proceeding arising in connection with this Agreement will be brought exclusively in courts of SEYCHELLES, and the parties irrevocably consent to such personal jurisdiction and venue."

It could mean the company is an Offshore company, but they have an adress and work from UK.

They also claim to be FCA registered, and if you search on FCA you find this: http://fca-consumer-credit-interim.force.com/CS_RegisterSearchPageNew?accId=643566

How to interpret this? Is this a full license or what to make of it?

Also, does anyone know if FCA also have licenses for the Seychelles and other "British islands" that offer the same protection, or is it bascially real crap if it isn´t the UK FCA rules?

They claim to have Managed accounts, were you can receive possible good trading setups, which you chose to "put in play" or not. If you do, they will handle the setup and they claim to few setups (maybe once a week) but with a high hitrade (approx. 85 % according to the guy who called). They only risk 3,2 % of the account each time and the uppside should be approx. 80-85 % which sounds to good to be true, but I have seen it before from some real good news trader managers with extremely good R/R-ratio.

I don´t know what to make of this, so please reach out if you have tried it or have any other info?

Best regards,

 

[Pharaoh]

Seychelles gives no confidence. That FCA link mentions fbl.co.uk. Check there and ask if fb-limited.com is the same company.

 

[volumeprofile]

Interesting. This is the one I got from the company: http://c2n.me/3nE5UKn.png
You can see it´s the same ref. number.

However, if seachring myself on the FCA webpage, this is what I find: http://clip2net.com/s/3nE64h3

Same reg. number, but if you check the e-mail adress it goes to a house broker company with the web adress: http://www.en.ifbl.co.uk/

Could it be that they have fabricated the statement for themselves, and hoping that clients would miss the detail that this is in fact another company, and therefore belive they are registered with the FCA?

 

[Pharaoh]

The FCA has issued many warnings about clone companies. Contact the address that correlates to the company registered with the FCA and ask them. If they deny any link to the other website, let the FCA know right away.

 

[volumeprofile]

Update!

Reply from FCA:

"Financial Brokers Limited
I can confirm we do authorise a firm called Financial Brokers Limited. However the firm does not appear to be the same firm that you are looking to conduct business with. The firm we authorise has a website address of www.ifbl.co.uk. We do NOT regulate the firm fb-limited.com.

Binary Options
Binary options trading isn’t considered a regulated investment, so firms may not need to be authorised by us to carry out this type of activity in the UK. This means our rules don’t apply to them, and we don’t have the power to look in to their actions. You may wish to contact the Gambling Commission to see if they regulate fb-limited.com or if they can give you any more information about the firm. I have attached their contact details below for your convenience:"

This goes against what they have told me, so it doesn´t look good at all. I will look into this further, but as for now I would not place any funds there.

Take care and let me know if anyone else has any experience with this company.