AtoZForex.com Amsterdam — Following last month, with British Columbia Securities Commission’s warning against Eco Money Broker for unauthorized practices within its jurisdiction, another case has been red flagged. This time the BCSC has spotted that the online Binary Options brokerage, Citrades scam was targeting investors within the Canadian province with any proper license. Hence, the British Columbia Securities Commission has blacklisted Citrades, while the Canadian regional authority also has issued a public warning against the online binary options broker.8
In more detail, Citrades was founded back in 2011 by a group of Wall Street brokers, with the intention to provide a user-friendly platform with educational elements. Focusing its offerings mainly on binary options the online brokerage is globally active, with offices throughout Asia, Africa, Europe and the US. The firm’s trading services are offered through the Citrades.com website and claims to be a hundred percent secure. However, various sources online have exposed lots of complaints and scam accusations upon Citrades.
Aside this matter, there haven’t been any proof of Citrades to possess over any license in the given regions of operations. Questioning its credibility, the BSCS investigated the online binary options broker and found out that Citrades have illegally solicited for traders in its jurisdiction. Considering the fact that Citrades is not registered or licensed at all to offer its trading services in the region of British Columbia, the online binary options brokerage has been blacklisted.
Logically, the BCSC wants to warn the general public and its investors within the British Columbia jurisdiction against any business commitments with Citrades, due to the fact that is unlicensed. Together with the various critical comments about the online binary options brokerage, beware of the financial firm. From today’s published statement, BSCS communicated the following: “We urge BC residents to exercise extreme caution when dealing with firms that are not registered to trade or advise in BC.”