The Australian Securities and Investments Commission (ASIC) published on Thursday, through its consumer website MoneySmart.gov.au, alerts against non-licensed forex broker Ashton Cole Global Investments (aka AC Global) and binary options broker HongKong Tooptions, trading as ToOptions.
Both brokers are based in Hong Kong. Ashton Cole Global Investments operates via the website www.acglobalinc.com, and ToOptions does business using www.tooptions.com. The regulator warned that the two entities could be involved in a scam and investors should think twice before engaging with them.
ToOptions is owned and operated by Australian-based Marketag PTY Ltd. On its website, the broker says its parent company is licensed and regulated by the ASIC. Indeed, the Australian financial services (AFS) register indicates that the company obtained a forex license in 2008 and it is still active. However, the license mentions nothing regarding the ToOptions brand.