Continuing its string of warnings against unregulated brokers and other scams targeting people in Canada, Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List two more binary options brokers.
Joining the BCSC’s Investment Caution List are an entity called Novox Capital Ltd., which operates the OptionStars binary options brokerage brand from websites optionstars.com and optionstarsglobal.com. And, Titan Trade at titantrade.com.
According to the BCSC, OptionStars claims to be based in Bulgaria and Samoa, while Titan Trade claims to be based in Belize City, Belize, with each offering a online binary options trading platform.
The regulator recently became aware of OptionStars and Titan Trade, and that Canadian residents were able to open a trading account with each broker.
The companies are 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 OptionStars can be seen here.
The BCSC warning against Titan Trade can be seen here.