BCSC issued a warning against Binary Options provider Magnum Options
British Columbia Securities Commission (BCSC) has issued a warning to inform investors and public regarding binary options trading platform provider Magnum Options.
Hampshire Capital Ventures Ltd., which claims to have an office in Norwich, England, operates Magnum Options. Magnum Options purports to be a binary options trading platform provider.
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).
BCSC recently became aware that a BC resident was able to open an account with Magnum Options.
The Parties are 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
