BaFin intervenes against UB4Trade

The German financial regulator BaFin has taken measures against the broker UB4Trade that is run by Finatex.

UB4Trade is a binary options broker. This broker has a bad reputation, for example last year the FMA from New Zealand warned that UB4Trade is not letting its clients withdraw money.

The broker is not regulated, yet it is soliciting residents of regulated countries. Because is offering its services to residents of Germany without being authorized, BaFIN ordered UB4Trade to cease this activity.

For trading use regulated brokers.