We have recently received complaints and read many negative reviews on the internet about regulated binary options brokers using indecent practice towards traders. Although some binary brokers may be regulated, we do not recommend opening a trading account with ANY broker, be it a regulated broker or a non regulated broker, as THEY ALL seem to be unethical and non-trustworthy, even the regulated ones! If you have been scammed by such a company you can check out our RECOVER FUNDS FROM BINARY SCAMS section.

Also, instead of trading binaries which are mostly scams, you can trade with a trustworthy and popular FOREX broker such as STR Capital.

Redwood Options Added to BCSC (British Columbia Securities Commission) Investment Caution List

Canada VS Binary Options

Redwood Options, operated by Hampshire Capital Ventures Ltd. (together, the Parties)

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Date added:January 20, 2017
Background:Redwood Options claims to be a binary options trading brokerage based in Norwich, England, and offers an online binary options trading platform.

A binary option is a type of option whose payout depends on whether the underlying asset (such as a stock, a commodity, a currency pairing, etc.) increases or decreases in value.  Options are considered to be securities under the securities legislation in British Columbia (BC).

We recently became aware of Redwood Options and that it may be operating in or from BC.

The Parties are not registered to trade in, or advise on, securities or exchange contracts in BC.

We urge BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.

Redwood Options

In Canada the BCSC has posted a warning against unregulated binary options broker Redwood Options. The regulator have stated that this brokers is not licensed or regulated to trade in British Columbia (Canada) and is warning investors to exercise caution when dealing with firms that are not registered to trade or advise in BC .

So Why The Warning?

Apparently Redwood Options has been accepting Canadian clients although it does NOT have a BCSC license, this is a big problem  right now in the binary options industry. Unregulated binary options brokers are practicing illegally in many countries and regulators are fed up.

Criminal Activity

The fact is that what these brokers are doing is criminal activity, giving them a “small slap on the wrist” does not even begin to solve the issue, as long as brokers are allowed to get away clean, while practicing in criminal activities, the problem will not change or even begin to be fixed. Posting a “public warning” is just not enough.

How to Make a Complaint

Canada: Complaints about unsolicited calls from binary options brokers or about scam / fraud or indecent practice can be made officially to BCSC on the page in this link.