Canadian Watchdog MSC Warns About Binary Options Broker B4Binary
B4Binary has made it onto the Canadian watchdog’s caution list after violating its rules and regulations.
Canadian provincial regulator, the Manitoba Securities Commission (MSC), has issued an alert, warning the public against investing with unregistered binary options broker B4Binary.
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The brokerage, which operates online at www.b4binary.com and is owned and operated by SG 55 Ltd, Building 3, City West Business Park, Gelderd Road Leeds, West Yorkshire, UK, provides investors and traders with the opportunity to trade stocks, currency pairs, commodities and indices on the exotic options market.
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Not Licensed
B4Binary 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, the Manitoba Securities Commission seeks to protect investors while promoting fair and efficient capital markets throughout the province. B4Binary is the latest binary options broker to be added to its warning list and follows a growing number of complaints regarding binary option firms, including the recent addition of PWR Trade and Ivory Option as reported By Finance Magnates last month.
According to recent figures revealed by the MSC, Manitobans has so far lost over $160,000 this year to unregistered, offshore binary options brokers trading under a variety of names, adding that losses are likely to be higher due to unreported cases.
that article sounds like the scam in the UK Stoxmarket. I was scammed by about $5,000.
Are those off shore investment companies all scams?
I’m sorry for all you folk that have lost money here my £350 is small in comparison to many of you. I was directed to B4Binary by another trader and deposited the £350, I immediately had a phone call requesting me to deposit more, which I did not have surplus. I never traded and after 6 weeks requested my £350 be refunded. This was rejected as I had not traded. I emailed day after day and eventually one day a new trader phoned me trying to get me to send more funds. I said no just refund me which he… Read more »