Trading binary options canada
For Immediate Release March 9, Winnipeg — The Canadian Securities Administrators CSA are warning investors to exercise caution when considering an investment in binary options. The CSA has become aware of multiple websites promoting binary options trading platforms that are soliciting Canadians.
Despite listing Canadian contact information, many binary options trading platforms are based overseas purportedly in countries like Cyprus, Belize and the Seychelles, and the companies managing these platforms are often not registered to conduct business in Canada. Offering investment services or products, whether online or in person, is a regulated activity.
Investing with offshore companies operating outside of Canada can be risky and is a common red flag of investment fraud.
Binary Options Laws & Regulations in Canada | seboxinero.web.fc2.com
Once offshore, it can be nearly impossible for an investor to recover their money. This is not an exhaustive list.
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The CSA encourages all investors to visit aretheyregistered. Anyone who has invested with these or other offshore binary options trading platforms should contact their local securities regulator.
March is Fraud Prevention Month. Binary options are highly volatile and can produce wins or losses quickly, and because they are often traded in currency markets, they can present a high level of risk for many investors. There are several websites that allow users to trade binary options.
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Some may claim that these investments are risk-free or that the site will reimburse investors for lost wagers. However, these claims are inherently too good to be true; all investing involves some amount of risk, and most site disclaimers will clearly state that investors could stand to lose their entire investment. Many binary trading platforms are based overseas, despite listing a Canadian phone number or address.
The companies operating these platforms may not be registered to conduct business in Canada, and all investors are encouraged to check the registration of a broker or firm before investing by visiting aretheyregistered. Twitter LinkedIn Youtube Email Alerts Rss Feeds.
OSC in the Community. JavaScript is disabled or not supported by this browser. This website works best with JavaScript enabled. Mark Dickey Alberta Securities Commission Carolyn Shaw-Rimmington Ontario Securities Commission Richard Gilhooley British Columbia Securities Commission Kevan Hannah Manitoba Securities Commission Andrew Nicholson Financial and Consumer Services Commission, New Brunswick Tanya Wiltshire Nova Scotia Securities Commission Janice Callbeck PEI Securities Office Office of the Attorney General Don Boyles Office of the Superintendent of Securities Newfoundland and Labrador Rhonda Horte Office of the Yukon Superintendent of Securities Louis Arki Nunavut Securities Office Gary MacDougal Northwest Territories Securities Office Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan s.