The Financial Services and Markets Authority (FSMA) warns the public against the activities of VIP Markets, a company that offers binary options without complying with Belgian financial legislation.
VIP Markets is not allowed to provide banking and/or investment services in or from Belgium.
Furthermore, the FSMA reminds the public that since 18 August 2016, no investment firm (authorized or not) is permitted actively to distribute, within the territory of Belgium, binary options or any other derivative instruments whose maturity is less than one hour and/or that directly or indirectly use leverage (including forex derivatives and CFDs).
The FSMA thus strongly advises against responding to any offer of financial service made by VIP Markets and against transferring money to any account number it might mention.
The FSMA also reminds the public that in the vast majority of cases, persons who invest in firms that do not hold the requisite authorization never recover the sums invested. These are cases of investment fraud.
VIP Markets uses the website www.vvipmarkets.com and the following coordinates:
Address: 23890 IBC 2017 Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmonth Kingstown St. Vincent and the Grenadines
Tel.: +44 203 807 4606
It also uses three bank accounts which it claims were opened in the name of Newway Holdings Limited, Market Capital Sp. Z.O.O and Arma LPB S.R.O., respectively.
It also seems to have links to Markets Premium (www.markets-premium.com) and Tp-markets (www.tp-markets.com), two online trading platforms about which the FSMA has previously issued warnings.
Would you like to enquire more generally as to whether a transaction being proposed complies with the financial legislation? Please use the search engine on the FSMA website. You can also contact the FSMA directly via the consumer contact form.