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Canadian regulator BCSC warns against binary options broker BigOption

BCSC

Canadian securities regulator the British Columbia Securities Commission (BCSC) has issued a warning to investors regarding binary options broker BigOption, operated by Wirestech Limited.

Most of warnings of this type involved unauthorized advertising to or contact with retail investors in Canada by unlicensed brokers, and this one is no different.

According to the BCSC, BigOption claims to be based in London, England. The BCSC became aware that a British Columbia resident was solicited by a representative of BigOption, and was able to open a trading account with BigOption.

BigOption is not registered to trade in, or advise on, securities or exchange contracts in BC or elsewhere in Canada.

BigOption received a similar warning from the Ontario Securities Commission (OSC) last month. It was also named in the US to the CFTC’s initial ‘RED list’ of foreign brokers targeting US clients.

Paul

The author Paul