For the last year, the British Columbia Securities Commission (BCSC) has been making a list of personae non gratae brokers in order to keep unauthorized companies out of the Canadian province. This week, the two companies that are being shown the door are Binary Brokerz and TorOption, both of which claim to have headquarters within the UK.
Binary Brokerz claims to have its home base in London, England, while TorOption’s official website claims an office in Glasgow, Scotland. The BCSC has released statements on its website, noting that it became aware of and banned both companies because “[British Columbia (BC) residents were] able to open a trading account with TorOption [and Binary Brokerz]”. This statement may be interpreted as the BCSC watching online trading companies trying to access Canadian clients like a hawk.