Canadian officials are becoming increasingly cautious with regard to warning potential investors as to the presence of unregulated electronic trading firms targeting clients in Canada.
In the case of the Ontario Securities Commission (OSC), a provincial regulator which oversees all non-bank financial markets activity in the province of Canada which is home to Toronto, North America’s third largest financial center, the warnings are becoming more commonplace.
Today, the OSC has published a warning to potential investors regarding OTC binary options firm Markets The World Ltd, trading as MarketsWorld which operates from the website www.marketsworld.com and purports to be based in the British territory of the Isle of Man.
In contrast to the somewhat more comprehensive regulatory structure south of the border, off exchange binary options trading is legal in all Canadian provinces whereas in the United States OTC binary options trading is not legal and firms are required to process all order flow via Cantor Exchange or NADEX, however the OSC is focusing particularly on the lack of an OSC licenses in these cases as opposed to the type of business being operated.
The OSC warning states that Markets The World Ltd is not registered to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities in Ontario.
To read the warning, click here.