Canada explicitly bans binary options

The Canadian Securities Administrators (CSA) – the body unifying all regional financial markets and services regulators – has announced the implementation of Multilateral Instrument 91-102 Prohibition of Binary Options. This makes it illegal to advertise, offer, sell or otherwise trade binary options shorter than 30 days with any individual residing in Canada.

“Binary options are the leading type of investment fraud facing Canadians today, and the impact of this kind of scam on individuals is staggering,” said Louis Morisset, Chair of the CSA and President and Chief Executive Officer of the Autorité des marchés financiers, quoted in a CSA official statement.

Re: Canada explicitly bans binary options

One by one the reputable authorities is banning the binary option services. What biggest sign is needed for those who is still depositing funds in the BO brokers and soon or later start to complains and searches for advices how to withdrawal their money :)

Re: Canada explicitly bans binary options

The Nova Scotia Securities Commission has issued a warning that the binary options broker AshfordInvestments is not authorized to sell securities in the Canadian province.
According to the regulator, however, at least one Nova Scotia investor has lost money with this company. He was intending to do business with Quantum Code and his credit card was charged by Ashford Investments. Both Quantum Code and Ashford Investments are companies soliciting the sale of binary options to Nova Scotians, and neither are registered to sell securities in Nova Scotia.

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