Finance Ministry Warning: HotForex + Monte Carlo Binary

Japan's Finance ministry warns of HotForex, Monte Carlo Binary

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I’m very glad that gradually more and more authorities issue such warnings. People should be aware of such new scam brokers especially for binary bucket shops. What is worse is that they are not even regulated but offer bonus programs and other promotions for loyal clients. I am wondering since they are a new broker, how can they have loyal clients but obviously it’s a misleading campaign. Hopefully after this warning, no one will be “tempted” to trade with these guys.

Doubt there is any connection between Hotforex and Monte Carlo since Hotforex ceased services from its Binary Options branch Optiontrade.

Looks a bit confusing though.