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Scottish shell companies are being used as fronts for unregulated and unlicensed binary options trading platforms, many of which have been condemned as internet scams, according to a report today in Herald Scotland.
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International watchdogs, including Britain’s Financial Conduct Authority (FCA), have published warnings about such internet sites in recent weeks amid concerns that consumers are losing “substantial sums of money” executing high-risk trades.
Huge Financial Losses
The Herald’s investigation found that some binary options websites are trading using controversial Scottish limited partnerships, known as SLPs, a ... (read more)