Binary Stock Market Bank (BSMB) and Kalahouse Limited
The Financial Services and Markets Authority (FSMA) warns the public against the activities of Binary Stock Market Bank (BSMB), a company that offers highly risky investment instruments in Belgium without complying with Belgian financial legislation.
Binary Stock Market Bank (BSMB) is not an authorized investment firm or credit institution in Belgium. It is therefore not allowed to provide banking and/or investment services in or from Belgium.
Furthermore, certain investment instruments that this company offers, i.e. binary options, are speculative and involve significant risks, with the investor in such products running the risk of losing the entire amount invested. The FSMA already published a warning in May 2014 about the risks associated with binary options.
Finally, Binary Stock Market Bank (BSMB) has not published a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.
The FSMA therefore strongly advises against responding to any offers of financial services or to any public offers of investment instruments made by Binary Stock Market Bank (BSMB) and against transferring money to any account number it might mention.
Binary Stock Market Bank (BSMB) uses the website www.binarystockmarket.com and also uses a British bank account, purportedly opened in the name of Kalahouse Limited.
Moreover, the FSMA has evidence that this bank account was also used to commit “recovery room” fraud. For more information about this type of fraud, please see the warning of 16 March 2015.
The FSMA recommends vigilance with regard to companies such as this one which offer binary options or other risky investment instruments. Always verify that any company which is offering you financial services has the requisite authorization. For more recommendations, please consult the general warning published by the FSMA on 25 September 2015 on its website.
If you wish to check in general whether a proposed transaction complies with the financial regulations, please use the search function (available in Dutch and French only) on the website of the FSMA. You can also contact the FSMA (email address: firstname.lastname@example.org).