The British Columbia Securities Commission (BCSC), one of Canada’s thirteen provincial financial regulators, has again updated its Investor Caution List, including binary options broker Binary Uno.
Today’s warning comes just a day after the regulator warned investors against the online forex services being offered by Edgedale Finance which was flagged for unlawfully soliciting its offerings to the BC public.
Binary Uno is not registered to trade in or advise on securities or exchange contracts in BC.
Binary Uno is owned and operated by DOM Technology Services Ltd and is located in Glasgow, UK. On its website, the company is described as an online trading platform that offers advanced online FX, CFDs and commodities brokerage platforms and services to investors globally.
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However the broker, which trades using the website url www.binaryuno.com, has allegedly been soliciting financial services to British Columbia residents.
The financial watchdog became aware of Binary Uno when it found out that the company had been soliciting a BC resident. Upon further investigation, it was found that Binary Uno is not registered to trade in or advise on securities or exchange contracts in BC.
Furthermore, there is no evidence online of regulation by any other jurisdiction which may raise concerns about the authenticity of this firm.
The BCSC is the independent provincial government agency responsible for regulating capital markets in British Columbia. Its Investor Caution List contains individuals and companies that appear to be engaging in activities that may pose a risk to investors.
As with all brokers included on the list that are not registered to trade in and advise on securities or exchange contracts in BC, the Canadian watchdog has warned that trading with this broker may present a risk to investors and has therefore urged the public to use caution when dealing with Binary Uno.