The Financial Services and Markets Authority (FSMA) warns the public against the activities of FXObank, a company that offers highly risky investment instruments to the public in Belgium without complying with the Belgian financial legislation.
FXObank 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 very risky. Investors in these products run the risk of losing the entire sum invested. The FSMA has, moreover, issued a recent warning about the risks associated with binary options.
Finally, FXObank has not published a prospectus, approved by the FSMA, as is required before a public offering of investment instruments may be made within the territory of Belgium.
The FSMA thus strongly advises against responding to any offers of financial services or public offerings of investment instruments made by FXObank and against transferring money to any account number it might mention.
The FSMA recommends vigilance with regard to similar companies that offer binary options or other risky investment instruments. Always verify that any company which is offering you financial services has the requisite authorization. To do so, please use the search function on the FSMA website.
Would you like to enquire more generally as to whether a transaction being proposed is compliant with the financial legislation? If so, please contact the FSMA (email address: firstname.lastname@example.org).