Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List binary broker BinaryOnline at website binaryonline.com, owned and operated by Zola Ltd.
According to the BCSC, BinaryOnline claims to be a binary options trading brokerage based in Sofia, Bulgaria, and offers an online binary options trading platform.
The regulator recently became aware of BinaryOnline, and that Canadian residents were able to open a trading account with the broker.
BinaryOnline is not registered to trade in, or advise on, securities or exchange contracts in Canada. The BCSC urges residents to exercise caution when dealing with firms that are not registered to trade or advise.
The BCSC warning against BinaryOnline can be seen here.