The British Columbia Securities Commission (BCSC), one of the thirteen provincial financial regulators in Canada, has added Edgedale Finance to its ‘Investment Caution List’, according to a statement issued by the watchdog today.
Edgedale Finance, which operates under the website https://edgedalefinance.com, offers binary options trading services on a variety of assets including currencies, commodities, stocks and indices, and claims to be located at One Paddington Central, Kingdom St, London, UK.
The BCSC, which recently warned against XForex for similar offences, as reported by Finance Magnates in July, became aware of Edgedale Finance after finding out that a local resident was able to open a trading account with the brokerage.
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The regulator therefore red-flagged Edgedale Finance since it is not registered to trade in, or advise on, securities or exchange contracts in BC. The warning is one of many alerts issued by the BCSC which involve unauthorised soliciting or contact with retail investors in Canada by unlicensed brokers.
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 unauthorised activities.
In parallel to today’s warning against Edgedale Finance, the BCSC has reminded BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.