Binary Options broker, Titan Trade has made it onto yet another country’s list of brokers to avoid. New Zealand’s watchdog FMA has blacklisted the company, which provides services to trade a range of assets.
Titan Trade was found to have breached a number of regulations, including being unlicensed and not registered to do business in New Zealand. While claiming to have business addresses in both Belize and London, they appear to share the latter with another company, Dom Technology Services, according to England’s company registry.
The broker has faced disapproval from a number of other regulatory bodies; it was also recently given a red flag from Australia’s ASIC, as well as from Italy’s CONSOB and last year, from Canadian regulator, the Ontario Securities Commission.
Additionally, they are notorious on social media sites for having an aggressive approach and even known to engage in cold calling. Comments on Google Play for the company’s mobile app advised customers not to trade with Titan Trade as they are very likely to get scammed.
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