The British Columbia Securities Commission (BCSC), one of Canada’s thirteen provincial financial regulators, has added binary options broker Redwood Options to its Investor Caution List.
Redwood Options operates from the website www.redwoodoptions.com and is based in Norwich, England. It claims to be “today’s leading binary options broker” and offers a range of assets to trade, as well as education services. No mention of regulation is made on its website.
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According to the BCSC website, the regulator has become aware that the firm “may be operating in or from BC.” The BCSC is an independent provincial government agency responsible for regulating the market in British Columbia.
Redwood Options is not authorised or licensed to trade in, advise on, or exchange financial products in this region of Canada.
The regulator urges BC residents to exercise caution when dealing with the firm, and recommends that customers only deal with firms that are regulated.