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Screenshot of a breaking news alert e-mail from Q2 2017
The financial markets watchdog of Canada’s Ontario has earlier today updated its Warning List, with the latest addition being Chelestra Limited, operating as LBinary.
Chelestra, which gives an address in Gibraltar, offers a raft of binary options trading services via Lbinary (lbinary.com).
The Ontario Securities Commission (OSC) warns that Chelestra/LBinary is not registered in Ontario, Canada to engage in the business of (i) trading in securities or (ii) advising anyone with respect to investing in, buying or selling securities.
It is useful to note that trading in binary options OTC is permitted in Ontario, but the companies willing to offer such services to Ontario residents should have the necessary authorization from the local regulators. As Chelestra/LBinary lacked such permissions, it made it to the Warning List.
This is not the first time that this binary options broker attracts the attention of regulators. The Cyprus Securities and Exchange Commission (CySEC) published a warning regarding Chelestra/LBinary in August 2014.
To view the text of the warning from the OSC, click here.