CySEC Fines Binary Options Broker Opteck €50,000

Following an investigation, the CySEC is imposing a €50,000 fine on the binary options brokerage for non-compliance with the regulatory framework. The company violated the terms of outsourcing its services to third parties and at times was misrepresenting the qualifications of its personnel to clients and prospective clients.

2 thoughts on “CySEC Fines Binary Options Broker Opteck €50,000

  1. Anthony

    I need to know if you can help me . I was sucked into Opteck promising big returns incurring a loss of 19,000 USD. I have never traded in my life, was guided by one of their managers. Their trend is to fleeced you of your funds by encouraging you invest more on falling stocks. Being fearful of losing what I had in vested, I obliged and continued pumping more. not realizing that is part of the scam. I am the firm belief that their trading platform is rigged, because I tried closing trade when I saw the losing trend, but the platform will not respond. This happened two Fridays ago, when they encouraged me to invest 1000 shares in Gold knowing fully well that gold was losing value. That same day, they asked for a further 5k to maintain my margin. They claim that trade closes off daily, but lo and behold the following Monday, I realized that trade continued over the weekend without my being able to monitor it. Now I am heavily in debt to my bank, for credit card transfer. After the trade was closed because I couldn’t maintain my margin, and being unable to close the trade , a small amount was in my account. A new manger contacted me,yet they still wanted me to pumped more money in, I refused because my bank did not authorize any more transfer. Upon his advice he said id I am not trading again, he suggested i closed my account. I did, and requested the remainder to be remitted. They have since refuse to acknowledge my request and have removed from the system. Please is there any international body that can assist me and stop these people from scamming others.

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