The Canadian regulator has issued yet another Binary Options warning. This time, the firm under the spotlight is Hedgestone. Is Hedgestone scam or reliable?
3 May, AtoZForex – The Canadian securities regulator, British Columbia Securities Commission (BCSC), has issued a warning to investors’ community. On the 1st of May, the Canadian supervisor has cautioned investors against dealing with Binary Options brokerage Icon Markets Limited operating under the name Hedgestone.
Is Hedgestone scam or reliable?
In the beginning of the trading week, the Canadian regulator has added yet another broker to its warning list. The Binary Options broker Icon Markets Limited that is operating as Hedgestone is providing services via https://www.hedgestonegroup.com/.
The brokerage is offering an online Binary Options and contracts for difference (CFD) trading platform. The visit to the official website of the broker has revealed the following information:
“Although users of Hedgestone’s services ultimately receive the services from a company licensed by the IFSC under license number IFSC/60/461/TS/17, Nevski Ps Ltd is the primary service provider and is fully liable for all operations, services, employee actions, and complaints.
Nevski Ps Ltd’s offices are located at 4 Rabotnik Street, Kostinbrod Municipality, Petarch, Bulgaria.”
Apparently, the firm has the license from the Belize financial regulator, International Financial Services Commission of Belize (IFSC). Moreover, the firm is claiming to have the office in Belize City, Belize.
The previous BCSC Binary Options warning
The warning from the Canadian watchdog states that it found out about the Binary Options broker Hedgestone when it became aware that a BC resident was able to open a trading account with the brokerage. The regulator has stated it the official announcement:
“The Parties are not registered to trade in or advise on, securities or exchange contracts in BC.
We urge BC residents to exercise caution when dealing with firms that are have no registration to trade or advise in BC.”
The same day, the BCSC has warned the public against one more Binary Options broker – BinaryTilt. BinaryTilt is operating online via binarytilt.com. Moreover, the parent company of the brokerage is Chemmi Holdings Ltd. The Binary Options broker claims to have an office at the following address: Suite 5 Courtyard The Old Monastery, Windhill Bishops Stortford, Essex, England, CM23 2ND.
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