Canada’s Regulators Continue Fight vs Binary Options, MSC Warns on TorOption

Canadian provincial regulator, the Manitoba Securities Commission (MSC), has issued an alert, warning the public against investing with unregistered binary options broker TorOption, according to a regulatory statement.

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The brokerage, which operates online at www.toroption.com and is owned and operated by Smart Choice Zone LP provides investors and traders with the ability to trade stocks, currency pairs, commodities and indices on the exotic options market.

TorOption is, however, not registered to sell securities in Manitoba, or anywhere else in Canada, and has therefore failed to comply with provincial securities laws.

In its capacity as one of Canada’s provincial regulators, MSC seeks to protect investors while promoting fair and efficient capital markets throughout the province. 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.

In response to escalating binary options scams, provincial and territorial securities commissions across Canada have formed a task force and launched a new dedicated website to crack down on its aggressive Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term tactics, cloning and false claims of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term.

In addition to the Binary Options Task Force, the Canadian Securities Administrators (CSA), comprised of the country’s thirteen key financial market regulators across their respective provinces, launched a new resource site, www.BinaryOptionsFraud.ca. The move is part of a campaign to educate Canadians about the binary options scams.

The initiative against binary options activities comes after the Canadian watchdogs received more than 800 reports and inquiries from investors in 2016 alone, saying the schemes have the become nation’s most widespread securities fraud targeting the general public, namely to retail investors.