After receiving several complaints, Austria’s Financial Markets Authority (FMA) today warned investors against being offered products and services from The Swiss Method, a binary options broker offering investors the opportunity to trade in a variety of assets.
The inclusion of Swiss Method in the FMA’s warning list follows last week’s addition of Werner Stocker, another investment provider that was flagged for advertising its services without a licence.
Swiss Method operates online via two websites – http://www.theswissmethod-de.com.trade/ and http://www.autotraderbot.com/de/theswissmethod/access.html – the latter of which is inaccessible although it’s not clear if the site was taken down as a result of the warning or leading up to it.
The FMA is an integrated supervisory authority established in 2002. It brings together the supervision of all financial providers and functions in Austria under a single roof. The regulator is focused on identifying and blacklisting any individual or entity that is operating in Austria without a licence or authorisation, where that is required by law.
The FMA updates the public by means of warnings and alerts when it believes that investors may be at risk. Businesses and individuals are named on this list if they are not registered to provide financial services in Austria and/or had the FMA enforce action against them for misconduct.