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. Many of these websites are trying to lure investors by making untrue and/or misleading statements about Canadian securities regulators’ oversight of binary options.
Binary options are essentially “bets” on how a particular underlying asset will perform in a limited amount of time. 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. Once offshore, it can be nearly impossible for an investor to recover their money.
Unregistered trading platforms currently soliciting Canadians:
10trade.com fmtrader.com option.fm
24option.com goptions.com poweroption.com
247binary.com grandoption.com rboptions.com
24winner.com gtoptions.com redwoodoptions.com
amberoptions.com leaderoption.com stockpair.net
anyoption.com lionlive.com sycamoreoptions.com
bancdebinary.com no1options.com topoption.com
binareo.com onetwotrade.com traderush.com
binarytilt.com opteck.com tradersking.com
bosscapital.com optionfair.com triumphoption.com
cedarfinance.com optionrally.com ubinary.com
cherrytrade.com optiontime.com
dragonoptions.com optionweb.com
