BCSC warns for a Binary Options provider based in Bulgaria
The British Columbia Securities Commission (BCSC) has issued a warning to inform public and investors for 72Option, owned and operated by Epic Ventures Ltd (together, the Parties).
72Option claims to be a binary options trading brokerage based in Sofia, Bulgaria, and offers an online binary options trading platform.
According the warning, BCSC recently became aware that a British Columbia (BC) resident was able to open a trading account with 72Option.
The Parties are not registered to trade in, or advise on, securities or exchange contracts in BC.
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 urges BC residents to exercise caution when dealing with firms that are not registered to trade or advise in BC.
Source: BCSC
