BCSC warns about four binary options brokers

bcscThe British Columbia Securities Commission (BCSC) has issued a warning about RBOptions.com, 24options.com, GOoptions.com, TradeRush.com.

The most serious warning concerns RBOptions, that is according to the BCSC pretending to operate from Toronto, Ontario, which is not the case. That is why the BCSC calls for „extreme caution“ if approached by this company.

The warning about 24options.com, GOoptions.com, TradeRush.com is less serious and concerns only the fact, that these brokers are not registered in Canada. In Canada the same rules apply as in the United States, which means that any binary options broker offering its products in Canada has to be registered there.

You might wonder how we can recommend 24option despite this warning. But 24option did nothing wrong, it is just that it cannot operate in Canada, that is all that BCSC is saying. But 24option is a company regulated in the EU and has a very good reputation with traders, that is why it remains one of the best brokers.

2 thoughts on “BCSC warns about four binary options brokers

  1. Hi John! thanks for all the information you provide on your website! I am interested in the law about regulation of brokers in Canada. Do you have/know by any chance which law/article says that brokers not regulated in Canada cannot operate in Canada? I recently fell for the Virtnext scam, as it was promoted on BinaryOptionsWatchDog website. I lost all my investment ($250 USD, close to $350 CAD) within an hour or two. The broker was OptionFM and after some research, I found out that they were not regulated in Canada. I would like to file a complaint to my credit card company, as well as the Royal Canadian Mounted police (RCMP) for Scamming (Internet Crime), and it would be great if I could cite that law. Thank you!

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