A number of Canadian provincial financial regulators have already gave warnings concerning the binary options markets, thus reminding that there aren’t any entities authorized to ensure trading in binaries in this country.
The given notice was released by the CSA (Canadian Securities Administrators). It’s a controlling organization of the country’s provincial as well as territorial securities regulators. In its notice, the CSA informed that the regulators are currently concerned with the soaring number of websites, which promote offshore binary options trading platforms, targeting Canadians.
Therefore, any trading platforms or brokers, offering trading in binary options in this country are doing it absolutely illegally.
When signing up for these suspicious platforms, the citizens of Canada are exposing themselves to the high danger of fraud or identity theft. Such trading software tools often request credit card information. The CSA officially warns traders that they are putting themselves at risk of losing thousands of bucks in illegal withdrawals on their credit cards. Furthermore, they might have to deal with high-interest payments for a false investment.