Canadian regulators warn about Boss Capital, Toroption, Binary Corporate a CFD Corporate

Financial Authorities from Manitoba and Saskatchewan have warned the public about four binary options brokers.

Currently there are no regulated binary options brokers in Canada. Regulated companies from other countries respect the law and don’t offer their services in Canada, however unregulated companies continue to solicit Canadian residents.

Financial authorities often warn about these companies and the latest entries to their black lists are:

  • Boss Capital
  • Toroption
  • Binary Corporate
  • CFD Corporate

Links: http://www.saskatchewan.ca/government/news-and-media/2017/april/21/cease-trade-order and http://www.mbsecurities.ca/complaints-guidance/alert-warnings/alerts/

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One thought on “Canadian regulators warn about Boss Capital, Toroption, Binary Corporate a CFD Corporate

  1. Hi
    (CFD Corporate, previously known as Binary corporate)
    I was approached by a broker from then called binary corporate by the name of Dan Morgan, I was hesitant to deposit any funds as it did not seem to be legitimate. I spent more than an hour on the phone him convincing me that I would not lose my money & then asked his manager to speak to me who assured me that my money would not be lost. i also asked them if this company was regulated by ASIC, and he falsely lied to me that it was. If I had known they were not regulated by the Australian trading body I would have not deposited any funds to this company. I took his word which is something I regret. This is money I had saved for to pay my mortgage, bills and to fix up my house . Dan Morgan then did a few trades with me of which he asked me to download team viewer and he was trading on my behalf…for the first week it was profitable and everything seemed ok until a week later he rang me and told me that there was a promotion going on whereby whatever amount I deposited the company would match it, & he would trade on long term trades only. I told him I did not have money as the money I had was for my mortgage and he said not to worry as he told me that when he did the long trades he would transfer back profits made by end of week to my account to pay for the mortgage & whatever amount I deposited the company would match it and in this case I had made a total deposit of $5145 US, so my understanding I thought my account would have a total balance of $10 290 US, and he would do long term trades. None of this happened, 1. The company did not match the funds I had deposited, and he did not do long term trades and basically in a space of 7 minutes I lost all my money. I was devastated, and my mortgage was due and I did not have any money as I had also deposited my pay for the fortnight. I then rang the company to put a complaint in and I spoke to Steven Baxter who then told me that he would transfer me $900 to my account so I could pay my mortgage which was due, I then went into overdraft. He then said they would transfer $4000 of the company’s money to my account to do some trades and recover my losses. I was now working with another broker who was really helpful and did his best but he suggested that I deposit more of my own money so he can use it to trade but at this stage I have lost trust and faith in the whole company, I am now thinking of taking legal action and reporting them to ASIC so that they are barred from trading within Australia, now that I know they are not regulated by ASIC.

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