Binary Options Broker Binary777 Added to Japan’s FSA Warning ListBy Annie Reona | Friday, July 24th, 2015
Today, Japan’s Financial Services Agency (FSA) updated their list of companies that are offering various financial trading options to citizens in Japan without the proper authorization. This update saw the addition of the binary options broker Binary777. It can also be seen listed as Binary-777 and is operating from the website binary-777.com/ja/.
The Japanese financial laws state that binary options should be considered derivatives. Under the law, any company that is offering derivatives is required to be registered in Japan. This law includes any international company that is specifically targeting or offering services to individuals in Japan.
Because Binary777 is not registered with the proper authorities, Japan’s FSA has included it on the warning list. Japanese citizens who are looking to invest in binary options are encouraged to check the list carefully before doing business with any companies to make sure that the binary options broker they’re going with may not be authorized.
Another reason why the company is on the warning list is that they include short-term options that have 60-second expiry times. This specific type of trading option is banned by Japanese laws. For Binary777, this means that the company may never be able to get the authorization necessary to reach out to prospective clients in Japan.
Some of the other companies included on Japan’s FSA’s list are Hitachi IDI Holding, Traop Secretary Office, Guardlife, SimpleTrade Service Office, Millionaire Road Service Office, NZ Financial Capital Limited, Apuro Holdings Limited, FinanceJapan, Premium Trading Services Inc., Bunny-Trade, NextTrade Management, Option99 Management Company.
It is important to also note that simply because a company is listed on Japan’s FSA list does not necessarily mean that they are doing anything illegal in other countries. In some cases, they simply have not taken the proper steps to register in Japan, and would be removed from the list if they were able to register with Japan.Published in News & Analysis