The Global Crackdown on Binary Options
Binary options brokers are now ordering their marketers to stop all marketing efforts targeted at Canadian investors. The global binary options crackdown is working and brokers without a Canadian license are taking the crackdown seriously, as it seems.
Canadian regulators such as the OSC and BCSC have been key players in the recent global crackdown and are taking matters into their hands, adding unregulated binary options brokers to their alert and warnings lists, publishing public warning for investors and urging the public to not trade binary options on unregulated brokerage websites.
- British Columbia Securities Commission (BCSC) Warns Against Binary Uno
- OSC (Ontario Securities Commission) Adds RBOptions to Investors Warning List Index
Canadian Investors Money
People that are making money from the unregulated binary options schemes are not only the brokerages themselves but also online marketers who are paid up to $600 for each investor that they bring to the broker. Canadian investors have been widely known as having deeper pockets than investors from most other countries in the world and were sought after by binary options brokerages and marketers for their ability to bet (and loose) large sums of money on unregulated binary options websites, bringing in large profits to brokers and marketers alike.
Canadian investors up until now have lost tens if not hundreds of millions of dollars betting on binary options websites, most of those websites and brokerages perhaps if not likely used indecent practices and sales techniques in order to lure the investor in, unknowingly, of the huge potential risk in binary options trading. How much exactly has been “taken” in this way from the Canadian public, it is hard to say. What we know for sure now is that the crackdown is happening and regulators that have been taking there time up until now have begun to take notice of these occurrences as of late and are now pushing back and the unregulated brokers have been made fully aware of this, enough to take the steps needed to stop trying to solicit Canadian investors in the near future.