One of the most active Canadian regulators in tracking online trading scams just warned against binary options broker Option Financial Markets operating under the name Option.fm. In an official statement, the BCSC (the British Columbia Securities Commission) warned Canadian investors against Option Financial Markets and even added the binary options broker to its Investment Caution list. This list includes all the brokers that are operating in Canada or trying to attract Canadian investors without the necessary authorizations to do so.
Option Financial Markets (Option.fm) is not authorised in Canada
As explained by the BCSC, Option Financial Markets (operating under the brand name option.fm) pretends to be registered in Hong Kong and to focus on the Asian market. The broker proposes an online investment platform for binary options trading with multiple maturities. According to the regulator, Canadian investors have recently been solicited by the broker and some of them managed to open a trading account with Option Financial Markets. However, neither Option Financial Markets nor B.O. Technologies Limited, the holding company behind the option.fm trading brand are registered or authorised to operate in Canada.
Only trade with fully regulated binary option brokers
As always, this is another countless examples of brokers trying to attract investors from jurisdictions where they are not authorised to offer trading services. We recommend investors to exercise an extreme caution with such caution. Remember that you must always check that your broker is regulated in Europe (most of the time by the CySEC in Europe) and that it is authorised to operate in your country. You can easily find this information on the website of your domestic financial regulator (FCA in the United Kingdom, AMF in France, CONSOB in Italy…). We highly recommend you to stick to our list of recommend brokers that all received all the necessary authorisations and trading license to offer their services across Europe. They are the best binary options brokers out there with comparative advantages: Topoption offers the lowest minimum binary options deposit, Banc De Binary offers the best binary options bonus…