It will all add up to fewer Canadians being exposed, and fewer Canadians being cheated. Binary options take the form of a wager in which investors bet on the performance of an underlying asset, often a currency, commodity, stock index, or share. The timeframe on this bet is typically very short, sometimes hours or even minutes. When the time is up, the investor either receives a predetermined payout or loses the entire amount. In many instances, however, no actual trading occurs and the transaction takes place for the sole purpose of stealing money.

In addition, those who have provided credit or personal information to binary options sites frequently fall victim to identity theft. The firms and individuals involved in the operation of binary options trading platforms are often located overseas. Or you lose your money altogether. In September the Canadian Securities Administrators participating jurisdictions banned the offering, selling or otherwise trading of Binary Options shorter than 30 days to individuals.

For more information on the ban, visit the website of your local securities regulator. They place ads online, typically directing you to a well-designed website that seems legitimate. Then they ask for your own money via credit card, pre-loaded card, or money transfer — with promises of easy, impressive returns. In fact, they may use your credit or personal information to access even more funds without your knowledge. After they steal as much of your money as they can, they disappear.

This fact should be a clear warning to stay away from them. The majority of binary options operations are based in out-of-reach places overseas with few or no financial regulations. The fact is, you never know who you are dealing with. These criminals are aggressively targeting Canadians and others around the world, swindling them out of billions of dollars. Victims have been defrauded of their life savings, RRSPs, and money set aside for post-secondary education. Calgary —The Canadian Securities Administrators CSA today announce the implementation of Multilateral Instrument Prohibition of Binary Options , which makes it illegal to advertise, offer, sell or otherwise trade binary options shorter than 30 days with any individual.

It conveys a clear message that these products are unsuitable for individuals because of their risky characteristics and that their trading is illegal.

It will all add up to fewer Canadians being exposed, and fewer Canadians being cheated. Binary options take the form of a wager in which investors bet on the performance of an underlying asset, often a currency, commodity, stock index, or share. The timeframe on this bet is typically very short, sometimes hours or even minutes. When the time is up, the investor either receives a predetermined payout or loses the entire amount.

In many instances, however, no actual trading occurs and the transaction takes place for the sole purpose of stealing money. In addition, those who have provided credit or personal information to binary options sites frequently fall victim to identity theft.

Calgary —The Canadian Securities Administrators CSA today announce the implementation of Multilateral Instrument Prohibition of Binary Options , which makes it illegal to advertise, offer, sell or otherwise trade binary options shorter than 30 days with any individual. It conveys a clear message that these products are unsuitable for individuals because of their risky characteristics and that their trading is illegal. It will all add up to fewer Canadians being exposed, and fewer Canadians being cheated.

Binary options take the form of a wager in which investors bet on the performance of an underlying asset, often a currency, commodity, stock index, or share. The timeframe on this bet is typically very short, sometimes hours or even minutes. When the time is up, the investor either receives a predetermined payout or loses the entire amount.

In many instances, however, no actual trading occurs and the transaction takes place for the sole purpose of stealing money. In addition, those who have provided credit or personal information to binary options sites frequently fall victim to identity theft.

The firms and individuals involved in the operation of binary options trading platforms are often located overseas. Investing offshore is a common red flag of fraud, as it may be impossible for investors to get their money back if something goes wrong. Anyone who has invested with, or has concerns about, an offshore binary options trading platform should immediately contact their local securities regulator. Before making a decision to invest in any product, the CSA encourages all investors to visit aretheyregistered.

ca to check the registration of a person or company offering the investment. There are no registered individuals or firms permitted to trade binary options products in Canada. Any firm or individual selling investments or offering advice must be registered in the province where they do business. Registration helps protect investors because regulators will only register firms and individuals that are properly qualified. Janine Allen Kaiser Lachance Communications T: allen kaiserlachance.

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Did you find what you were looking for? The Financial and Consumer Affairs Authority of Saskatchewan FCAA has issued cease trade orders against two foreign companies. The fact is, you never know who you are dealing with. These criminals are aggressively targeting Canadians and others around the world, swindling them out of billions of dollars. It will all add up to fewer Canadians being exposed, and fewer Canadians being cheated.

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