Watch Out Grandoption Scam

Ed_Forex

Private, 1st Class
Messages
240
A Binary option scam broker https://www.grandoption.com/ claiming to be regulated by the FCA, the worst is using the same license number of CySec and advertising it is the same one used for FCA and MIFID regulation!!!

Not just that, grandoption employees and cheaters assure that in total insolence when contacting investors by email and phone, saying why FCA didn't act against them if they are not regulated by it?!

Jackson Ray (jackson.r@grandoption.com) and Tommie Green (tommie.g@grandoption.com) confess their cheat in emails and phone calls.

FCA official reply to the issue:

" I have searched for the firm Grand Option under our financial services register. I can confirm Grand Option are not regulated by the Financial Conduct Authority.

Binary options are a form of fixed-odds bets on financial markets. In Great Britain, the way they are addressed in legislation means they are regulated and supervised as gambling transactions. We would suggest you contact the gambling commission for assistance. The Gambling Commission was set up under the Gambling Act 2005 to regulate commercial gambling in Great Britain. For more information, I have attached a link below.

The page cannot be found

I can confirm the information you have provided has been forwarded to the unauthorized business department within the Financial Conduct Authority (FCA). To manage your expectations, In these situations, although we would often like to, we are unable to come back to you on an individual basis about how this information will been used as we are unable to share confidential information with the public due to section 348 of the Financial Services and Markets Act. "


Conclusion, watch out the Scam Grandoption, if it is cheating investors from the beginning by pretending to be what it is actually not, how when they become clients, scamming clients money will be the definite next step.regulationbanneren.jpg
 

Ed_Forex

Private, 1st Class
Messages
240
Discovered so far that most regulators are not tightening on scam brokers, that's one of the basic reasons of scam brokers found anywhere running an illegal business, nobody asking.

Not sure but maybe regulators like FCA find it not important that a broker posts FCA logo as if regulated and continue marketing for it, or maybe FCA have no time and money to waste on courts against the scam brokers?!!

Regulators seem preferring to wait for problem to occur then act after receiving thousands of complaints than acting before scam time!
 
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