24Option Operator Fined By Dutch Regulators
24Option Owner Fined By Dutch Regulators
Rodeler Moderate, the troupe behind 24option.com, has been fined €15k for failing to comply with an investigation aside the European country financial supervisory agency. The governor decided not to impose the maximal penalty of €2 million, citing the company's present-day financial condition. Take on for the details.
More Bad News For 24Option
The administrative fine was levelled against Rodeler Limited and its local anaesthetic entity, Rodeler (NL) BV, for violating the country's Miscellaneous Administrative Law Act. The Netherlands Confidence for the Financial Markets (AFM) began investigating the today debunked CFD trading platform for engaging in unfair commercial practices. The regulator also sought to determine whether the steel needed an AFM license to offer retail trading services.
During the investigation, the AFM requested recordings of telephone conversations between Rodeler and its clients. However, the unfaltering unsuccessful to provide the requested recordings, breaching its regulatory obligations.
The fine was imposed on the Cyprian raise governing body as the AFM believed the direction team at Rodeler Limited played a headstone role in the local Dutch violations.
This isn't the first restrictive issue Rodeler has encountered. The company voluntarily withdrew its Cyprus Fund license earlier this twelvemonth following a serial of issues and complaints. Rodeler has also been on the receiving end of triune fines from the Cypriot regulator for a variety of conformity breaches.
Alternatives To 24Option
With 24Option showing no signs of overcoming its regulative hurdles and having compressed its trading doors to retail clients, investors are understandably looking for option providers. Fortunately, several reputable brokers offer a like-minded selection of trading assets and tools with competitive fees:
- Plus500 – The multi-organized trading firm offers CFDs on a orbit of popular fiscal markets, including stocks, indices, commodities, and cryptocurrencies. Commission-free trading alongside skintight spreads has made Plus500 a top-rated world broker.
- AvaTrade – The online brokerage is thermostated in Australia, the UK, and Europe, among others. Leveraged CFD trading is available on the popular MetaTrader 4 platform with social trading services also offered to beginners.
- eToro – The multi-asset trading firm provides accession to hundreds of stocks, as well as crypto assets and forex. Trading fees are low and eToro offers a easy mobile app for investing on the go.
With 24Option no more yearner a viable option for ambitious traders, the platforms above are a good place to originate for beginners and veteran investors alike. Each brand is regulated by top-tier agencies and offer inexpensive trading along major financial markets.
aside DayTrading.com
Source: https://www.daytrading.com/24option-owner-fined-dutch-regulators
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