BCSC Adds Eight New Entities to the Investment Caution List

The BC SecuritiesCommission (BCSC) proactively helps protect BC investors by publishing an Investment Caution List. In this blog post, we highlight eight entities that were added to the Investment Caution List between May and July 2016.

None of the entities listed below are registered to trade in, or advise on, securities or exchange contracts in BC:

XForex claims to be a contracts for difference (CFDs) broker based in Cyprus. CFDs are a type of derivative security. XForex is owned and operated by XFR Financial Ltd. Although XFR Financial Ltd. is registered in Cyprus, it is not registered in BC.  Commission staff became aware of XForex after a representative of the firm solicited a BC resident who was able to open an account.

D.G.I. Market Ltd. offers an online binary options trading platform and claims to be based in Bulgaria.  BCSC became aware of DGI Market and that a BC resident was able to open a trading account with DGI Market 

BigOption, operated by WiresTech Limited, claims to be based in London, England, and offers an on-line binary options trading platform. The BCSC became aware of BigOption when a BC resident was solicited, and was able to open an account with the firm.

Magnum Options, operated by Hampshire Capital Ventures Ltd., which claims to have an office in Norwich, England, purports to be a binary options trading platform provider. The BCSC became aware that a BC resident was able to open an account with Magnum Options.

Trades Capital, operated by TTN Marketing Ltd., appears to be based in Glasgow, Scotland, and offers an on-line binary options trading platform. The BCSC became aware of an advertisement placed by Trades Capital in BC.

IvoryOption claims to be based in London, England, and offers an on-line binary options trading platform. The BCSC became aware of IvoryOption when a BC resident was able to open a trading account with them.

Option Financial Markets, operated by B.O. Technologies Limited, claims to be based in Hong Kong, China, and offers an on-line binary options trading platform. The BCSC became aware of the firm when a BC resident was solicited by a representative of Option Financial Markets, and was able to open a trading account with them.

Ava Trade Ltd. claims to be a regulated on-line broker, based in the British Virgin Islands. The BCSC became aware of a recent advertisement placed by Ava Trade Ltd. in BC.

If you have any questions about any of the companies listed on our Investment Caution List, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 (toll free), or through email at [email protected].

Suggested Reading

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How to Seek Financial Compensation After Filing a Complaint

More Resources

Better Business Bureau Top 10 Scams: Binary Options

Protect yourself from all types of scams

Be careful of investment seminars

There are a lot of lessons to be learned from reading the Canadian Securities Administrators’ 2010 Enforcement Report. Read, for example, the Alberta case called Kustom Design Financial Services Inc. This is a company which held seminars supposedly offering financial education. It was, instead, a cover for the illegal selling of securities to vulnerable investors. […]