72Option, owned and operated by Epic Ventures Ltd.
- Warnung BCSC Canada
72Option, owned and operated by Epic Ventures Ltd. (together, the Parties)
Date added:December 08, 2016
Background:72Option claims to be a binary options trading brokerage based in Sofia, Bulgaria, and offers an online binary options trading platform.
A binary option is a type of option whose payout depends on whether the underlying asset (such as a stock, a commodity, a currency pairing, etc.) increases or decreases in value. Options are considered to be securities under the securities legislation in British Columbia (BC).
We recently became aware of 72Option and that a BC resident was able to open a trading account with 72Option.
The Parties are not registered to trade in, or advise on, securities or exchange contracts in BC.
We urge BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
ASIC advises this company could be involved in a scam. Do not deal with this business as it is unlicensed in Australia.
The business listed below has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) licence or an Australian Credit licence from ASIC.
More information on dealing with investment scams and banking and credit card scams.
72Option Also known as Epic Ventures Ltd
14 Tsar Osvoboditel Blvd, 5th Floor,
1000 Sofia Bulgaria
P: (+61) 283 174 989
Name: (New) 72Option
Type: Unlicensed entities
Remarks: The company represents that it is a brand owned and operated by Epic Ventures Ltd. It uses a bank account in Hong Kong in the name of Luxury Billion Ltd for settlement.
Add date: 11 Aug 2017
Note: Unlicensed entities often use names similar to legitimate companies to confuse investors.
2017-11-27, Public warning CNMV Spain
CNMV ISSUES WARNING TO THE PUBLIC ON UNREGISTERED FIRM
Pursuant to the second paragraph of Article 17 of the Securities Markets Law (recast text approved by Royal Legislative Decree 4/2015, of 23 October), the Comisión Nacional del Mercado de Valores (National Securities Market Commission) warns that:
EPIC VENTURES LTD
is not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, which include investment advice, or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the said Law, including, for those purposes, foreign currency transactions.
For any enquiries, please contact the Comisión Nacional del Mercado de Valores enquiry line on 900 535 015 or visit CNMV’s website (www.cnmv.es).
27 November 2017.
2018-03-15, Public warning by FCA UK gainst Epic Ventures Ltd
Amadicia Ltd/ Epic Ventures Ltd t/a 72 Option
Warnings Published: 15/03/2018 Last updated: 15/03/2018
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.
However, some firms act without our authorisation and some knowingly run investment scams.
This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.
Amadicia Ltd/ Epic Ventures Ltd t/a 72 Option
Address: Amadicia Ltd, 1 Whitehall Quay, Leeds LS1 4HR
Epic Ventures Ltd, Ivan Dimov Nenov 7 Sofia Bulgaria 1360
How to protect yourself
We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.
If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register (link is external).
If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.
There are more steps you should take to avoid scams and unauthorised firms.
You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service (link is external) or Financial Services Compensation Scheme (link is external) (FSCS) if things go wrong.
Report an unauthorised firm
If you think you have been approached by an unauthorised firm or contacted about a scam, you should contact our Consumer Helpline on 0800 111 6768. If you were offered, bought or sold shares, you can use our reporting form.