The British Columbia Securities Commission (BCSC) has just updated the Investment Caution List, which features the names of companies that unlawfully target residents of the Canadian province and/or offer unqualified investments.
The latest addition to the list is Binex Markets, a company which offers binary options services via https://www.binexmarkets.com. The company purports to have an office in the United Kingdom.
The BCSC notes that there are a couple of other firms associated with Binex Markets. The watchdog has become aware that Vision Trading Advisors (VTA), a firm that claims to be located in Fort Lauderdale, Florida, had contacted a British Columbia resident about opening an account with Binex Markets. VTA instructed the resident to send funds to the bank account of Vision Financial Partners, LLC.
The regulator stresses that Binex Markets, Vision Trading Advisors (VTA) and Vision Financial Partners, LLC, are not registered to trade in, or advise on, securities or exchange contracts in British Columbia.
The warning against Binex Markets is published several days after the British Columbia regulator included four other binary options brokers: ZenithOptions, InvestingCI, Option Orbit and LBinary, to its Investment Caution List. For that matter, let’s note that OTC binary options trading is permitted in Canada but binary options brokers wishing to offer their services to Canadian investors should obtain authorization from local securities regulators.
You can view the BCSC warning against Binex Markets by clicking here.