Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List unregulated binary options broker Hedgestone Group, owned and operated by Nevski Ps Ltd. from website hedgestonegroup.com.
According to the BCSC, Hedgestone Group and a related brand Icon Markets Limited claim to be based in Belize City, Belize, and offer an online binary options and contracts for difference (CFD) trading platform. Nevski Ps Ltd. claims to be based in Petarch, Bulgaria.
The regulator became aware of Hedgestone Group and that a Canadian resident was able to open a trading account with Hedgestone Group.
Hedgestone Group is not registered to trade in, or advise on, securities or exchange contracts in BC or elsewhere in Canada.
BCSC urged BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
The BCSC warning against Hedgestone Group can be seen here.