Swiss Assets Management (formerly PlatinuMarkets) is an unlicensed binary options broker that looks like they started operations in July 2016. Their ownership information was not available on their website, however they list an address of 788-790 Finchely Road, London NW11 7TJ, England. The phone number listed is: +44 203 608 0412.
The email address for withdrawals is: firstname.lastname@example.org, and you should see typical broker complaints, look here.
Scam Automated Trading Robots
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Swiss Assets Management Forbids Using Trading Robots!
The terms and conditions says;
1.5. Robotic Trade Execution or Outside Execution System, Non authorized Automatic or semi automatic trading mechanism integrated by the client on the browser or client side, that does not involve human execution, will be considered back door API or system abuse and the positions that were taken in this way are resulted in prices that wouldn’t have been accepted or filled in the general market therefore result in cancellation or permanent account suspension.
This mean if you were introduced to Swiss Assets Management via trading software, using that account is already against their terms and conditions.
Swiss Assets Management Review
The binary options trading platform Swiss Assets Management operates with is called Tradestation by Hello Markets. Investors have about 55 assets for trade binary options in Currency Pairs, Commodities and Market Indices and Shares.
Option expiry times are slightly different than you will find at other brokers. For example; the 15 minute option, expires at 15 minutes of the hour, and a one hour option expires on the hour. They have minor currency crosses available, including the Polish Zloty, Indian Rupee & Mexican Peso, also built into the trading software a various trade alerts and signals. Minimum trade size is $5, and the maximum trade size is $10,000.
Swiss Assets Management License Check
When researching a binary options broker to determine if they are legitimate or a scam, we look for a brokerage firm license. The licensed could come from FSB in South Africa, ASIC in Austarlia or the NFA in the United States.
Swiss Assets Management does not have a license.
FINRA published an investor alert regarding offshore binary options brokers. Read the alert on FINRA’s website here.
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence or is authorised by an Australian financial services licensee and regulated by ASIC.”