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Canada's BCSC warns of binary options broker 332option

Sep 08 2017
By
Jonathan Smith

 Canada's provincial regulator, the British Columbia Securities Commission (BCSC) has added the binary options broker 332option to its warning list.


 

According to the BCSC, the owning company Blueport Investment Services Ltd. (BIS) is not registered to trade in, or advise on, securities or exchange contracts in BC.


 

BCSC notes that BIS claims to be registered in Cyprus and our check in the Cyprus Securities and Exchange Commission revealed that it this is indeed the case. According to its website, the BIS is an asset management company based in Nicosia. It provides investment advice and portfolio management.


 

This, however, does not mean it can provide its services in Canada, as it does not have a local license. As per Canadian legislation, the companies providing financial services in the country have to be licensed by the relevant provincial regulators, like the BCSC.

 

 

TAGS: canada  bcsc  332option   

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