Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List unregulated binary options broker B4Option.
B4Option has claimed to provide an online binary options trading platform.
Spain’s securities market regulator CNMV already warned against B4Option two years ago.
A binary option is a type of option whose payout depends on whether the underlying asset (such as a stock, a commodity, a currency pairing, etc.) increases or decreases in value. Options are considered to be securities under British Columbia’s securities legislation.
BCSC recently became aware of B4Option and that a BC resident was able to open a trading account with B4Option.
B4Option is not registered to trade in, or advise on, securities or exchange contracts in British Columbia (BC).
BCSC urges BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
The BCSC warning against B4Option can be seen here.