New warning against binary firm by Canada’s Ontario Securities Commission

Ontario Securities Commission (OSC) warning

Being one of Canada’s thirteen provincial regulators, the Ontario Securities Commission (OSC) is one of the most proactive financial industry watchdogs, which pays particular attention to its mandate of seeking to protect investors while at the same time promoting the operation of fair and efficient capital markets throughout its province. Within this framework, it maintains a regularly updated website which provides information, tools and resources for investors, including investor warnings about individuals and companies that appear to be engaging in unauthorized activities.

The latest addition to this warning list, warning the Canadian public against a firm that is not authorized by the watchdog, has been issued against a firm under the name B4Binary, which operates through the website and is owned by Service Global 52 Ltd. Issuing the warning against this entity, the OSC explained that the brand B4Binary operates a binary options website offering related trading services, without holding the appropriate licenses or authorization to do so in Ontario.

Visiting the particular broker’s website one can find that it offers trading facilities on a wide range of binary options instruments. ‎Although, it doesn’t claim a specific regulatory status in any jurisdiction we can assume that the warning by the OSC has been issued within the framework of its vigilant approach towards unauthrorised firms and also as a response to the growing number of recent complaints regarding forex and binary options firms being received by Canada’s thirteen provincial watchdogs.