Ontario Securities Commission (OSC) today issued a public warning regarding the activities of Up & Down Marketing Limited, operating two binary options brands: OneTwoTrade and HasOptions.
The company offers a variety of services concerning binary options via two websites: www.onetwotrade.com and www.hasoptions.com, claiming the business is fully licensed and regulated.
LeapRate check has shown that although Up & Down Marketing Limited is registered in Malta (Company ID: C 50369), it does not have any license issued by the Malta Financial Services Authority. We should stress here that Malta is amid the first countries in Europe (and the world) to start treating binary options like financial instruments, so a securities firm license is necessary provide such services in Malta. Up & Down Marketing Limited does not hold one.
The company does not have the necessary license to offer its services in Ontario either. In its warning, the OSC says that Up & Down Marketing Limited is “not registered in Ontario, Canada to engage in the business of (i) trading in securities or (ii) advising anyone with respect to investing in, buying or selling securities.”
This is not the first time that Up & Down Marketing Limited has clashed with Canadian securities regulators. In March this year, OneTwoTrade was amid the companies blacklisted by the Canadian Securities Administrators (CSA).
To view the original OSC warning regarding Up & Down Marketing Limited, click here.
