Canadian regulator BCSC warns against iqtrade24 operated by B.O. Tradefinancials Ltd.


fma warning

Canadian securities regulator the British Columbia Securities Commission (BCSC) has just announced that it has become aware of a suspicious entity, B.O. Tradefinancials Ltd. (the Company), which claims to operate iqtrade24, an online binary options trading platform provider.

The regulator has recently become aware of iqtrade24 and that it made an unsolicited offer to a British Columbia (BC) resident to trade with iqtrade24.

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 BC’s securities legislation.

The Company and iqtrade24 are not registered to trade in, or advise on, securities or exchange contracts in BC.

BCSC urged BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.

The official warning can be seen here.

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Canadian regulator BCSC warns against iqtrade24 operated by B.O. Tradefinancials Ltd.

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