FSC reminds people to use a legal channel when trading in overseas futures to avoid the fraud risk
Recently, some people reported that they had remitted margin of futures contracts overseas and conducted foreign exchange margin trading through a foreign exchange trading platform provided by an overseas company but had been unable to take their money back. As such trading platforms have not been approved to conduct futures trading business in Taiwan, if transaction disputes occur there is often no way of seeking compensation. Therefore the FSC reminds people that futures trading should be done through a legal domestic futures business operator to protect their rights and interests. In recent years, there were fraud cases of Binary Options through Internet platforms. The trading of Binary Options usually takes place online or through unregulated channels. Many cases of fraud and disputes involving Binary Options had happened overseas and therefore the FSC reminds people to be careful.