The Financial Services and Markets Authority (FSMA) warns the public against the activities of GTX Options, a company that unlawfully offers binary options on the Belgian market.
The FSMA reminds the public that since 18 August 2016, no investment firm is permitted actively to distribute binary options within the territory of Belgium.
GTX Options does not comply with this rule.
Moreover, consumers who have invested in GTX Options never recovered their investment. Therefore, such activities most likely constitute a case of investment fraud.
The FSMA therefore strongly advises against responding to any offers of financial services made by GTX Options.
GTX Options uses the website www.gtxoptions.com and the following contact details:
Address: 901 Arcola Ave, Silver Spring MD 20906, USA
Tel.: +44 16 1850 3416, +44 15 1329 0052
The FSMA wishes to recall that investment fraud often lies behind firms that are active in the binary options sector. Anyone who wishes to invest in these firms thus runs the risk of never recovering the sums invested.
In order to avoid this type of fraud, the FSMA reiterates its recommendation to investors always to check the identity (company name, home country, registered office, etc.) of the company offering them an investment. If the company cannot be clearly identified, it should not be trusted.
Investors are also urged always to verify if the company in question has the requisite authorization. To this end, a quick search can be conducted on the FSMA’s website.
Investors should also beware of cloned firms: companies that pass themselves off as different, lawful companies even though they have no connection with them. A close look at the email addresses or contact details for the companies in question may prove useful in order to detect this type of fraud.
More than ever, then, prudence is necessary. In case of any doubt, and before making any (more) payments, don't hesitate to contact the FSMA using the consumer contact form. As well, please feel free to notify it of any suspicious company that has not yet been the subject of a warning by the FSMA.
For more recommendations aimed at avoiding investment fraud, the FSMA invites investors to consult the 'How to recognize and avoid fraud' page on its website.
For more information on binary options, the FSMA invites investors to consult the 'Binary options and forex' page of its website.