BCSC Investment Caution List: Five New Binary Options Trading Entities Added
The British Columbia Securities Commission (BCSC) has added five new entities to the Investment Caution List, all of which are involved in binary options trading.
Edgedale Finance, Binary Uno, PrimeBrokerz, Crown Managers, and Millionaires Blueprint were added to the Investment Caution List in September and October 2016.
None of these organizations are registered to trade in, or advise on, securities or exchange contracts in BC. We urge investors to exercise caution when dealing with firms that are not registered to trade or advise in BC.
If you have been contacted by or have an account with one of these firms, please let us know immediately.
To learn more, visit the Investment Caution List on the BCSC’s public website. You can also sign-up for alerts when new entities are added to the list.
About each addition to the Investment Caution List
Edgedale Finance claims to be based in London, England, and offers an online binary options trading platform. The BCSC became aware of Edgedale Finance after a BC resident was able to open an account with the firm.
Binary Uno, operated by DOM Technology Services Ltd., claims to be based in London, England, and offers an online binary options trading platform. The BCSC became aware of Binary Uno after a BC resident was solicited to invest with the firm.
PrimeBrokerz, owned by Danesi Global Ltd., offers an online binary options trading platform and claims to be based in London, England. The BCSC became aware of PrimeBrokerz after a provincial resident was able to open an account with the firm.
Crown Managers claims to have offices in China, Norway, the United Kingdom, and the United States. It offers an online binary options trading platform. A BC resident was solicited to invest with the firm, after which the BCSC became aware of Crown Managers.
Millionaires Blueprint claims to provide a fully-automated trading software for online binary options trading. The BCSC became aware of this entity after a BC resident was able to open a trading account with the firm.
About Binary Options
A binary option is a type of option whose payout depends on whether the underlying asset (such as a stock, a commodity, a currency pairing, etc.) increases or decreases in value. Options are considered to be securities under BC’s securities legislation.
The Canadian Securities Administrators (CSA) issued an Investor Alert about its concerns with the growth in the number of offshore websites promoting binary options in March 2016. We encourage you to read the alert on the CSA website.
It’s also important to note that no business in Canada is registered or authorized to market or sell binary options in Canada.
Report a Concern
If you have any concerns about a person or company offering an investment opportunity, please contact BCSC Inquiries at 604-899-6854 or 1-800-373-6393 or through e-mail at [email protected]. You can also file a complaint or submit a tip anonymously using the BCSC’s online complaint form.
InvestRight.org is the British Columbia Securities Commission’s investor education website.