A new warning on the website of the Ontario Securities Commission (OSC) highlights Anyoption as a company which has been providing its services to Canadian residents as an unregistered company. The warning also concerns Ouroboros Derivatives Trading Ltd, which is a Cyprus-based company listed on some of the websites of the binary options brokerage.
According to Canadian laws, all financial services providers who are willing to deliver their services to residents of the country need to be licensed. With the regulatory structure in the country fragmented, every provincial regulator issues separate warnings about companies which it considers are not complying with rules and regulations.
The announcement on the website of the OSC states that Anyoption Ltd., Anyoption Payment Services Ltd. and/or Anyoption Holdings Limited, which are using two websites to provide their services in the country, namely www.anyoption.ca and www.anyoption.com, are not registered in Canada.
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The OSC clarifies that the Cyprus regulated brokerage is not registered to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities.
The regulator has added the binary options brokerage to its list of companies and individuals which are risky for investors.
“The OSC urges investors to be cautious about these individuals and companies,” an announcement reads on the regulator’s website.