The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, has added Suisse Option, a binary options trading system, to its growing ‘Investment Caution List’, according to a BCSC statement.
According to the Canadian provincial regulator, Suisse Option solicited a British Columbia (BC) resident and the company opened a trading account for him, without being authorised to do so. The BCSC has therefore urged investors to use caution when dealing with this brand.
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Getting to back to the BCSC warning, Suisse Option, operating online under the url http://www.suisseoption.com, is a binary options firm allegedly operating out of Hong Kong and China.
After briefly explaining binary options and certain risks and features with these types of products, the BCSC noted that while some binary options are listed on exchanges and traded by registered individuals, these represent only a portion of the market, while a large portion of binary options are illegally traded through unregulated online platforms.
The BCSC is the independent provincial government agency responsible for regulating securities trading in British Columbia through the administration of the Securities Act. The regulator website provides information, tools and resources for investors, including investor warnings about individuals and companies that appear to be engaging in unauthorized activities.