British Columbia Securities Commission (BCSC), one of Canada’s thirteen provincial financial regulators, has issued a warning to investors about two binary options brokers, adding Ivory Option and Trades Capital to its growing list of companies to beware of.
The latest additions follow the inclusion of another binary options broker, Magnum Options, which was added to its list earlier this month for soliciting to British Columbia (BC) residents.
Ivory Option: unauthorised solicitation of services
The first warning was issued to Arianus Ltd, operating as Ivory Option under the website www.ivoryoption.com. Ivory Option claims to be based in London, and its website also lists an address in Sofia, Bulgaria. The company, which offers an online binary options trading platform, was added to the warning list when the BCSC became aware that a British Columbia (BC) resident was able to open a trading account with it.
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As is the case with all brokers included on the BCSC’s warning list, Ivory Option is not registered to trade in, or advise on, securities or exchange contracts in BC. The company also does not appear to be regulated under any jurisdiction.
Trades Capital: unauthorised advertisment
BCSC has also warned about Trades Capital Ltd (www.tradescapital.com) which is operated by TTN Marketing Ltd. The company claims to be based in Glasgow, and offers an online binary options trading platform.
BCSC was alerted to the company after being made aware of an advertisement placed by Trades Capital in BC when it was not authorised to do so.
BCSC’s warning list contains the names of individuals and companies that appear to be engaging in activities that may pose a risk to investors. The regulator confirms that both these firms are not registered to trade in, or advise on, securities or exchange contracts in BC and urges investors to use caution when dealing with them.