Canadian regulator BCSC warned that Redwood Options claims to be a binary options trading brokerage based in Norwich, England, and offers an online binary options trading platform.
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 the securities legislation in British Columbia (BC).
BCSC recently became aware of Redwood Options and that it may be operating in or from BC.
The Parties are not registered to trade in, or advise on, securities or exchange contracts in BC.
Redwood Options is operating at www.redwoodoptions.com.
BCSC urges BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
To see the official warning, click here.