Quebec’s Autorité des marchés financiers (AMF) has issued another warning against unauthorized binary options groups, adding thirteen websites to its list of companies illegally providing services to domestic clients.
Presently, there are no authorized groups providing or marketing binary options services in Quebec – the region has cracked down on the practice and instrument in recent years, given the danger to customers. The AMF has repeatedly warned against websites illegally offering such services, as well as articulating the risks of binary options trading for traders.
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This stance was reiterated by Jean-François Fortin, AMF’s Executive Director, Enforcement, who clarified: “Despite our many appeals to be wary of promises of payouts associated with binary options, we continue to receive reports and requests for information from the public. Our Case Assessment and Cybersurveillance teams are keeping a watchful eye on binary options trading platforms in Québec, in anticipation of the implementation of appropriate statutory measures. Moreover, we are working with other Canadian regulators to co-ordinate our efforts.”
Consequently, AMF has updated its list of unauthorized trading websites in Quebec: