The British Columbia Securities Commission (BCSC) keeps adding companies to its Investment Caution List, which features the names of unregistered brokerage firms unlawfully targeting British Columbia investors or falsely claiming to be associated with the Canadian province.
The latest addition to the Investment Caution List is CTOption, a binary options broker operating via www.ctoption.com. The company is owned and managed by InfiniCore Ltd., which claims to have offices in London, England, and Kingstown, Saint Vincent and the Grenadines.
The BCSC recently became aware that a British Columbia resident was able to open an account with CTOption.
The watchdog notes that CTOption and InfiniCore are not registered to trade in, or advise on, securities or exchange contracts in British Columbia.
March is Fraud Prevention Month in Canada. On March 16, 2016, the Canadian Securities Administrators (CSA), the council of the 10 provincial and three territorial securities regulators in Canada, marked Check Registration Day, encouraging investors to check whether investment services providers have the proper authorization. The regulators reiterated the risks associated with trading binary options and using the services of unauthorized binary options brokers.
You can view the full warning by clicking here.