FMA Issues Warning Against Unlicensed Firm

The Zealands Financial Market Authority (FMA) issued a warning against an unauthorized broker called Option2Trade. The authority said We recommend caution when dealing with the online trading platform Option 2 Trade or its website, option2trade.io.

Details-

WEBSITE: www.option2trade.io

ADDRESS: The Sotheby Building, Rodney Bay, Gros-Islet, Saint Lucia P.O. 838, Saint Lucia

According to the FMA, The platform claims to be licensed and regulated by the Mwali International Services Authority (MISA), within the Union of the Comoros. However, the Central Bank of Comoros has confirmed that MISA has no authority to authorise or licence financial institutions operating in the Union of Comoros.

Investors should be careful when dealing with any organization that claims to be licensed or regulated by MISA. Option 2 Trade is not registered to offer financial services in New Zealand.

WikiFX Review

When we checked the status of the option2trade on WikiFX, we found it is an unlicensed broker with an extremely low score. Also, WikiFX issued a warning against the broker stating that

Warning: Low score, please stay away!

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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