Are you trading or planning to commit funds with PWR Trade or IvoryOption? The Canadian MSC binary options broker warning against these two brokers should be consulted.
16 November, AtoZForex – The Canadian regulator, Manitoba Securities Commission (MSC), has issued warnings against two binary options brokers. The brokerages appear to be providing services to Canadian investors without being authorized by the regulator. The blacklisted companies are PWR Trade and Ivory Option.
Canadian MSC binary options broker warning: PWR Trade and IvoryOption
The MSC's warning states that PWR Trade is a brand owned by GN Capital Limited and GN Management. GN Capital is a company allegedly functioning from the Marshall Islands, whereas GN Management allegedly runs its operations from Bulgaria. None of the companies mentioned are registered with the regulator. Therefore, are not allowed to engage in trading securities or providing advising services in buying or selling of securities. The binary options brokers are operating through www.pwrtrade.com.
IvoryOption is a brand run by Arya Group Ltd, allegedly operating from the UK and Sofia, Bulgaria. Neither IvoryOption nor Arya Group Ltd have been registered in Manitoba. Hence, they can’t be involved in trading securities. The brokerage runs its operations via https://ivoryoption.com.
According to the websites of both Binary options brokers, the entities offer trading in a variety of financial instruments, including forex and binary options. Nevertheless, there is no information indicating any regulatory authority that supervise IvoryOption or PWR Trade.
How can investors use the MSC's website?
Being one of the thirteen Canadian provincial regulators, MSC aims to provide protection for investors, at the same time facilitating the fair and efficient functioning of capital markets in the province. On the regulator’s website investors can find useful information and tools, see warning list where entities that are not authorized by the regulator are indicated as well as to check the registration of a company or individual offering securities in Manitoba.
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