Investor alert binary options and fraudcom
Once offshore, it is often impossible for investors to recover their money. Businesses illegally offering Canadians the chance to make quick and easy money from binary options are operating all over the world. CSA members are working together and with other regulators to share best practices in order to counter these widespread illegal activities.
The CSA encourages all investors to visit aretheyregistered. Anyone who has invested with, or has concerns about, an offshore binary options trading platform should contact their local securities regulator. Always check registration and enforcement history before investing.
Be wary of giving out personal information including credit card information over the phone or internet. Take some time to research the opportunity and review it with an independent third party. Ask to have written information about the investment sent to you. Make sure you fully understand an investment. They may misrepresent where they are calling from for example, pretending that they are in the U.
If you are considering investing money with a binary options website, look out for these red flags:. In addition to perpetrating fraudulent investment schemes, the operators of binary options websites may be violating the federal securities laws through other illegal conduct, including:. Furthermore, if any of the products offered by binary options trading websites are security-based swaps , additional requirements will apply. Banc de Binary , the binary options seller allegedly solicited U.
Some safeguards and remedies are available only to purchasers of securities in registered offerings. In addition, individual investors may not be able to pursue, on their own, some remedies that are available for unregistered offerings.
Canadian Securities Administrators Investor Alert: Unregistered binary option platforms target Canadians. Report possible securities fraud to the SEC.