British Columbia Warns About Opteck
Opteck Appears to Consider Regulatory Warnings as an Occupational Hazard
Having attracted warnings from the The Australian Securities & Investments Commission (ASIC) , the Autorité des Marchés Financiers (AMF), the French financial regulator, and already on the Canadian Securities Administrators ‘Black List’, Opteck has once again drawn attention to its practices.
The British Columbia Securities Commission has been made aware that Opteck have solicited a British Columbia citizen whom was in turn able to open a trading account with Opteck. Since Opteck is not registered to trade in, or advise on, securities or exchange contracts in British Columbia, Opteck is breaking the law.
If one were to visit the Opteck Review it is evident that Opteck is running a pretty dodgy shop. This site has contacted the CEO of Opteck in December 2015 to establish what regulation Opteck is operating under. Opteck has CySEC regulation but allures to a Belize licence on its European Opteck.com site which is clearly unnecessary. One can’t help but assume there is some kind of ‘smoke and mirrors’ scam operating here and that if a client did have an issue with Opteck then they would most likely argue they’re under the Belize regulator.
From ‘About Us’ on the Opteck.com site:
Regulations, money protection and company information
Opteck.com is a trading name of Centralspot Trading Ltd, regulated by the Cyprus Securities and Exchange Commission (“CySEC”), under authorization number 238/14. The postal address of the office is:
Lophitis Business Centre
249, 28th October Street
Limassol 3035, Cyprus
Please find a list of our services on CySEC’s CIFs public registry: CySEC
Opteck.biz is a trading name of CST Financial Services Ltd, regulated by the International Financial Services Commission (“IFSC”), under authorization number IFSC/60/377/TS/15. The postal address of the office is:
35 Barrack Road, Third Floor
Belize City, Belize
Please find a list of our services on IFSC’s public registry: IFSC
When it was suggested to the Opteck CEO, that any reference to Opteck.biz and/or IFSC is an unnecessary appendage he came back with spurious arguments.
CySEC has developed quite an appetite of late for fining CySEC regulated binary options operators and this site’s money is on Opteck being right now in CySECs line of fire.