Canadian regulator BCSC warns against Binary Options broker BSDOption

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 binary broker BSDOption at website, operated by Lybss Ltd. and owned by YDBM Ltd.

According to the BCSC, BSDOption claims to be a binary options trading brokerage based in Liverpool, England, and offers an online binary options trading platform.

The regulator recently became aware of BSDOption, and that Canadian residents were able to open a trading account with the broker.

BSDOption is not registered to trade in, or advise on, securities or exchange contracts in Canada. The BCSC urges residents to exercise caution when dealing with firms that are not registered to trade or advise.

BSDOption was also recently mentioned in a list of unregulated forex and binary options brokers published by Cyprus financial regulator CySEC.

The BCSC warning against BSDOption can be seen here.

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