The British Columbia Securities Commission (BCSC) on Friday updated its Investment Caution List, which features the names of unregistered foreign brokerage firms that have solicited investors to open trading accounts, offered them unqualified investments and the names of businesses connected, or purporting to be connected, to British Columbia that have solicited investors in other jurisdictions to purchase unqualified investments.
Magnum Options, operated by Hampshire Capital Ventures Ltd, is the latest addition to the list. Operating via www.magnumoptions.eu and claiming to be based in England, the firm offers a variety of binary options services.
BCSC recently became aware that a resident of the province was able to open an account with Magnum Options.
The regulator notes that Magnum Options and Hampshire Capital Ventures Ltd are not registered to trade in, or advise on, securities or exchange contracts in British Columbia and urges residents to exercise caution.