BCSC warns against binary options trading platform Opteck
The British Columbia Securities Commission (BCSC) has issued a warning to inform regarding CST Financial Services Ltd., operating as Opteck.
According to BCSC, Opteck claims to be based in Belize City, Belize, and offers an on-line binary options trading platform.
BCSC became aware that a British Columbia (BC) resident was solicited by a representative of Opteck, and was able to open a trading account with Opteck.
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 BC.
Opteck is not registered to trade in, or advise on, securities or exchange contracts in BC.
BCSC urges BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
Source: BCSC
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Reading this post reminds me of my previous room mate!
He always kept chatting about this. I will forward
this post to him. Fairly certain he will have a good read.
Thanks for sharing!