Binary Options Scam Watch: BCSC warns against Opteck

The British Columbia Securities Commission (BCSC) on Friday issued a warning against binary options firm Opteck, thus taking the number of participants in its Investment Caution list to 155.

Opteck, a brand of CST Financial Services Ltd, offers its services via The broker claims to be based in Belize City, Belize.

The regulator has become aware that a British Columbia resident was solicited by a representative of Opteck, and was able to open a trading account with the firm.

The watchdog stresses that Opteck is not registered to trade in, or advise on, securities or exchange contracts in British Columbia and encourages investors to exercise caution when dealing with unauthorized firms.

This is not the first time Opteck gets into the focus of regulators’ attention. In March 2015, the broker was included in the Canadian Securities Administrators’ “Black List” of unauthorized binary options brokers. The Australian Securities & Investments Commission (ASIC) and France’s AMF have also voiced their concerns regarding Opteck.

You can view the full warning from the BCSC by clicking here.

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