BCSC warns against Option Financial Markets, IvoryOption and Trades Capital

BCSC warns against Option Financial Markets, IvoryOption and Trades Capital

Canada’s provincial regulator, the British Columbia Securities Commission (BCSC) has warned that three binary options brokers: Option Financial Markets, IvoryOption and Trades Capital are not licensed to trade in, or advise on, securities or exchange contracts in British Columbia.

Option Financial Markets is operated by B.O. Technologies and offers trading in binaries from the website Option.fm. It claims to be based in Hong Kong and is regulated by Belize’s International Financial Services Commission (IFSC) since 2015, but has no license for neither Canadian province.

Trades Capital, owned by TTN Marketing Ltd, offers trading in binaries on the website www.tradescapital.com and, according to the BCSC, has advertised its services within British Columbia. The broker provides a business address in Glasgow, but does not appear to be regulated by UK’s Financial Conduct Authority.

IvoryOption, owned by Arianus Ltd., operates the website  www.ivoryoption.com. It does not provide neither business address, nor regulation information. Strangely enough, however, it claims its billing is handled by the company Arya Group Ltd., with an address in a residential area in downtown Sofia, Bulgaria. Besides, Arya Group Ltd. seems to be an Indian steel and ship recycling company. Furthermore, IvoryOption was recently added to the RED warning list of unauthorized brokers of the US Commodity Futures Trading Commission (CFTC).

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