The Ontario Securities Commission (OSC) just warned investors against BigOption, WinOptions and OptionRidge. These three binary brokers are operating without the necessary authorisations. The OSC is the most powerful financial regulator in Canada and investors should carefully pay attention to its warnings. The regulator added the three binary option brokers to its investor warning list. As a matter of fact, the US CFTC already added BigOption to its RED list earlier this year. This means that two of the most reliable financial regulators of the North American continent have now expressed their concerns regarding BigOption. We highly recommend you to avoid this broker and stick with the ones that are officially regulated and authorised to operate in Europe either by the CySEC or the FCA.
BigOption, WinOptions and OptionRidge are not regulated
According to the OSC statement, BigOption, WinOptions and OptionRidge are engaging in trading activities that may pose a risk to investors in its jurisdiction. These three brokers are not regulated or authorised to offer their services in Canada. Since some of these webistes are also available in English, French and Italian, we deemed it important to warn you against the announcement. More and more scam binary option websites are trying to take advantage of beginners in trading. Most of these websites are operated by companies that are not regulated and not authorised to propose their trading services to retail investors.
Always check your regulator website
If you want to avoid any problem, we highly recommend you to have a look at the website of your domestic regulator before signing-in with any broker. All the most relevant regulators (FCA in the UK, AMF in France, CONSOB in Italy, CFTC in the US…) regularly update a blacklist of the brokers you should avoid. You can also determine if a broker is regulated on each regulator’s register. If you are new to trading and want to be sure to trade with a regulated and reliable broker, we can only encourage you to stick to our list of recommended brokers. They are the best binary options brokers and propose the highest standards of security and compliance with the European financial regulation.
Do not hesitate to have a look at our 24option review and our OptionRally review. They are the leaders of our ranking and they propose the best trading platforms for beginners. Do not hesitate to ask us any question on the comment section below if you need further information.