RBinary joins a host of firms added to the UK regulator’s warning list in recent weeks. The British regulator has been in rapid-fire mode in the past month, adding five firms in one day last week.
This reporter is already familiar with RBinary, the Marshall Islands-registered binary options dealer. The firm shares a UK address with another unscrupulous financial services provider, the CFD broker SolidCFD. It doesn’t appear that there is any connection between the two firms but it is doubtful either company has a genuine physical presence in the UK.
RBinary’s billing services are run by a company called HSCOM Ltd. The company is also based in the UK but it is unclear, from Companies House documents, who actually operates it. Someone named Daniel O’Donoghue is supposedly director but the same person is director of over fifty companies, making it difficult to determine how involved with the company they actually are.
The founder of HSCOM is a Hungarian-Israeli, Harel Avraham Graf. Graf appears to now be CEO of a company called Graphtrader but, other than guessing based on its name, it is unclear as to what that company does.
Given its dodgy set up and the FCA warning, it’s unsurprising that nearly all of the reviews pertaining to RBinary are awful. This author was unable to find a single piece of positive feedback, with all reviewe describing the pushy salesmen, missing cash and lost savings.