Trading with B4Binary? Early in November, the Ontario Securities Commission (OSC) warned investors against the binary options brokerage. Following this alert, the Manitoba watchdog has also cautioned investors.
9 December, AtoZForex – Canada’s financial regulator has updated its warning list by adding binary options broker, B4Binary. The brokerage has been red flagged by the Manitoba Securities Commission (MSC). Because it has been soliciting Canadian clients without being registered with any of the Canadian watchdogs.
Trading with B4Binary? MSC warns investors
B4Binary runs its operations through an online website www.b4binary.com. According to the firm’s website, B4Binary is an options trading platform providing investors and traders the possibility to trade currency pairs, stocks, commodities, and indices on the exotic options. The binary options brokerage is owned and operated by SG 55 Ltd,Building 3, City West Business Park, Gelderd Road Leeds, West Yorkshire, LS12 6LX, United Kingdom.
The Canadian MSC alerted investors against the entity because neither B4Bimary nor its holding company is registered to sell securities in Manitoba or any other province in Canada. Hence, the brokerage failed to adhere to the provincial securities laws.
Canadian MSC's alerts
The warning against B4Binary is one of the recent ones, following the alerts issued last months. In November, the MSC cautioned investors against two binary options brokers, PWR Trade and Ivory Option. Since the brokerages appeared to be providing services to Canadian investors without being authorized by the regulator.
The regulator attempts to safeguard investors and promote fair and efficient capital markets in Manitoba province by fighting with unregistered entities. As the recent data reported by the MSC has indicated that Manitobans have lost more than $160,000 this year to unregistered, offshore binary options brokers that operate under a variety of names.
Is your broker regulated?
Consequently, investors should make a research on a broker they are planning to commit their funds with. Also, only to trade with regulated entities to protect their funds. We recommend to check the list of AtoZ Approved Forex Brokers which have been tested by AtoZForex’s team of experts. With Some of the aspects examined included regulation, withdrawal procedures, execution, and compliance.
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