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Is Binary Brokerz scam or reliable? BCSC Binary Brokerz warning

Is Binary Brokerz scam or reliable? BCSC Binary Brokerz warning

The British Columbia Securities Commission has warned investors against dealing with Binary Brokerz. Is Binary Brokerz scam or reliable?

10 May, AtoZForex The British Columbia Securities Commission (BCSC) is Canada’s provincial financial regulator. The regulatory agency is responsible for regulating capital markets in British Columbia. BCSC has recently published a warning against Binary Brokerz.

Is Binary Brokerz scam or reliable?

The entity Binary Brokerz is a Binary Options broker that claims to have an office in London, UK. The brokerage is providing an online binary options trading platform. Moreover, the Binary Brokerz is operating online via website www.binarybrokerz.com. The parent company of Binary Brokerz is DSMG Ltd.

The Canadian regulator has warned the investors’ community against dealing with this particular firm. In the official announcement, BCSC has stated:

'A binary option is a type of option whose payout depends on whether the underlying asset (such as a stock, a commodity, a currency pairing, etc.) increases or decreases in value. Options are considered to be securities under British Columbia’s securities legislation.'

The regulator explained that it became aware of Binary Brokerz after one of the BC residents was able to open a trading account with the broker. I have tried to access the official website of Binary Brokerz. However, the page seemed to be taken down and the following message was displayed:

Is Binary Brokerz scam or reliable?

The regulator was also states that the firm has not authority to trade in, or advise on, securities or exchange contracts in BC. Additionally, BCSC urged BC residents to exercise caution when dealing with firms that have no registration to trade or advise in BC.

Latest BCSC warning

Just some days ago, The Canadian financial watchdog has warned the investors’ community against dealing with B4Option. The entity is claiming to provide an online Binary Options trading platform. The Binary Options broker was operating online via https://www.b4option.com/. However, currently, the website is not in operation.

Also, Two years ago, Comisión Nacional del Mercado de Valores (CNMV), Spanish financial regulator, has warned against dealing with B4Option. The regulator stated that the entity was carrying out financial; activities with no authority to do so.

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