Canadian regulator warns against unregulated binary options brokers OptionMint, OptionQueen and BinaryPays


Increasingly vigilant Canadian provincial regulatory authority, the Ontario Securities Commission (OSC), has issued a warning to potential investors about a series of binary options brands which are not licensed to operate or conduct business in the province of Ontario.

In this particular case, the binary options brands concerned are listed under one entity, Binary Investments Global Ltd, which operates from 2 Woodberry Grove, Finchley, London N12 ODR, United Kingdom.

Under the moniker of Binary Investments Global Ltd are several brands, which the OSC lists as optionmint.com, optionqueen.com and binarypays.com, all of which are not authorised by the OSC to engage in the business of trading in securities or advising anyone with respect to investing in, buying or selling securities.

Contrary to the regulatory stance with regard to off-exchange binary options in the United States, which states that all binary options transactions must be conducted via either of two NFA regulated, US based dedicated binary options exchanges, those being NADEX or Cantor Exchange, off-exchange binary options trading is legal in Ontario, however all entities providing the service must be regulated by the OSC.

For the official announcement from the OSC, click here.

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Canadian regulator warns against unregulated binary options brokers OptionMint, OptionQueen and BinaryPays

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