Binary options firm Delta Capital Markets disappears with investors’ money

Delta Capital Markets was an unregulated firm offering binary options to UK investors.

While the firm was active, a number of complaints were made by disgruntled investors on Moneysavingexpert.com and Trustpilot complaining of losing money on trades (which is to be expected with binary options) and being unable to withdraw the money they hadn’t yet lost (which isn’t).

The website has now been offline for several days, and forum users report that they are unable to contact Delta Capital Markets via phone.

It appears that the owners of Delta Capital Markets have disappeared with any remaining money.

Who were Delta Capital Markets?

No information was provided on Delta Capital Markets’ website as to who were behind the business. According to a disclaimer, Delta was a trading name of Annax Global Ltd registered at Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH96960. The identity of the owners of this company remains unknown.

The UK registered address of Delta Capital Markets was a virtual office.

Addendum 23.2.18 Delta Capital Markets did in fact have a UK registered entity: Delta Market Limited. Its registered address of 86-90 Paul Street, London is the same as that given for Delta Capital Markets on numerous business listing websites, which confirms Delta Capital Markets and Delta Market Limited are one and the same.

Darren Symes was recorded as director and owner of Delta Market Limited from its incorporation in May 2015 until March 2017, at which point Thomas Cowell became director and owner (aged 22). At time of writing this remains the case according to Companies House.

Delta Market Limited is due to file its next accounts by 28 February; it seems likely that it will miss that deadline.

The website deltacapitalmarkets.com was registered by an Alan Curran of Axium Corporate. Axium Corporate Limited was a UK company that was dissolved voluntarily in December 2017, just under two and a half years after it incorporated in August 2015. It never filed accounts as an active company. Alan Curran resigned as sole director in August 2017 at the age of 85 and was replaced by another. Whether Curran was involved with the running of Delta Capital Markets or only registered the website on their behalf is unknown.

Can I get my money back?

Delta Capital Markets was not regulated by the Financial Conduct Authority. If you were advised to invest with Delta Capital Markets by an FCA-regulated adviser, you may have a claim against them – but that appears to be unlikely.

In the absence of any regulated claim, recovering the money appears to be highly unlikely.

Investors should beware of “fraud recovery fraud” where someone claims they can recover your investment if you pay “legal fees” or “liquidation fees” or other upfront fees. If someone contacts you claiming they can get the money back, it is almost certainly a scam. If you want to pursue a claim via the courts, use a reputable solicitor of your own choice. Bear in mind there is no point throwing good money after bad by paying legal fees to pursue money that cannot realistically be recovered.

Delta Capital Markets investors should be aware that they are now probably on a “suckers list” and therefore highly likely to receive calls attempting to subject them to fraud recovery fraud or other scams.

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