Fraud Accusations Mountain Against Fx Broker Option500 Equally Hong Kong Sfc Issues Alert

The Hong Kong SFC has levied penalties against multiple Forex brokers this twelvemonth too the means has warned against several unlicensed FX draw solid this month, which convey names resembling reputable brokers similar Plus500.

For instance, concluding week, the SFC sent out a alarm against Option500 (www.option500.com), which has been soliciting investors inwards Hong Kong too overseas. The unlicensed fellowship claims to move based inwards the Great Britain too has a real similar-sounding mention to British FX broker Plus500 - a regulated entity too a recognizable build mention inwards the industry.

SFC's alarm reads:

The fiscal regulator inwards Cyprus, the CySEC, too warned nearly Option500 inwards Oct of concluding year, maxim the fellowship “is non permitted to supply investment too ancillary services inwards the Republic, pursuant to Investment Services too Activities too Regulated Markets Law.”

Several old clients convey too defendant Option500 of fraud too complaints convey been lodged amongst the United Kingdom of Great Britain too Northern Ireland Financial Conduct Authority (FCA), according to a forum thread on ForexPeaceArmy.

One old customer alleges that Carl Ericcson too Alan Jones, compliance managing director at Option500, scammed him to the melody of $18,700 via document forgery too unauthorized trading.