FOREX AND CFDs TRADING
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ASIC is warning the public not to click on any advertising being marketed under the brand 'Titantrade', a titantradecom phone number by which trading in binary options is being offered.
A binary option is a financial product, in titantradecom phone number a derivative, under the Titantradecom phone number Act. Binary options are a type of option where you try to predict the short-term movements of a share price, currency, index or commodity.
They are a speculative, high risk product. Any entity that deals in, or provides advice about, binary options to Australian investors must hold an Australian financial services AFS licence, or be authorised by an AFS licensee.
The public should avoid using the Titantrade website www. Unless an Australian licence has been obtained by the operators of the Website, the Australian public should avoid signing up for any of the financial services listed on the Website. We believe the information and advertising contained on the Titantradecom phone number is likely to mislead the Australian public.
ASIC is titantradecom phone number that potential investors titantradecom phone number likely to suffer detriment as a result of being misled. On 26 JulyASIC took action in the Federal Court of Australia to restrain the operators of the Website from carrying on a financial services business whilst unlicensed. The Court made orders prohibiting the operators of the Website, and other persons and entities who may have received funds from the Website, from:. ASIC has recently identified a further website https: In addition to the orders titantradecom phone number parties from operating the Website, the Court expanded the orders to prohibit the operation of:.
At the hearing on 2 Februarythe orders of 15 November were further extended to 5 May while ASIC continues its investigation. At the hearing on 5 Maythe orders were further extended to 31 August while ASIC continues its investigation. On 1 MayASIC has also issued an application for contempt charges against some defendants to this proceeding and former solicitors of certain defendants - namely Melbourne-based law firm, Kalus Kenny Intelex refer: Find a media release.
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